Business Chapter 14 – Flashcards
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achieving the goals of an organization through planning, organizing, leading, and controlling organizational resources, including people, money, and time
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management
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determining organizational goals and action plans for how to achieve those goals
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planning
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determining a structure for both individual jobs and the overall organization
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organizing
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directing and motivating people to achieve organizational goals
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leading
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managers who the overall direction of the firm, articulating a vision, establishing priorities, and allocating time, money, and other resources
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top management
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managers who supervise lower-level managers and report to a higher-level manager
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middle management
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checking performance and making adjustments as needed
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controlling
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managers who directly supervise nonmanagement employees
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first line management
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expertise in a specific functional area or department
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technical skills
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the ability to work effectively with and through other people in a range of different relationships
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human skills
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the ability to grasp a big picture view of the overall organization
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conceptual skills
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motivation theory that suggests that human needs fall into hierarchy and that as each need is met, people become more motivated to meet the next-highest need in the pyramid
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maslow's hierarchy of needs theory
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physiological, safety, social, esteem, self actualization
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maslow's hierarchy
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workers dislike work and will do everything they can do avoid it, fear is motivating, people prefer to be directed
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theory x
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work is as natural as play or rest, different rewards can be motivating, people can accept and seek responsibility
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theory y
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motivation theory that concerns the relationship among individual effort, individual performance, and individual reward
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expectancy theory
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a motivation theory that proposes that perceptions of fairness directly affect the worker motivation
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equity theory
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high level, long term planning that establishes a vision for the company, defines long terms objectives
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strategic planning
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more specific, shorter term planning that applies plans to specific functional areas
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tactical planning
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very specific short term planning that applies tactical plans to daily, weekly and monthly operations
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operational planning
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planning for unexpected events, usually involving a range of scenarios and assumptions that differ from the assumptions behind the core plans
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contingency planning
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definition of an organization's purpose, values, and core goals, which provides the framework for all other plans
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mission
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strategic planning tool that helps management evaluate an organization in terms of internal strength and weakness, and external opportunities and threats
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SWOT analysis
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concrete benchmarks that managers can use to measure performance in each key area of the organization
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strategic goals
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action plans that help the organization achieve its goals by forging the best fit between the firm and the environment
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strategies
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a visual representation of the company's formal structure
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organization chart
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the extent to which decision making power is held by a small number of people at the top of the organization
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degree of centralization
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span of management, refers to the number of people a manager supervises
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span of control
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the division of workers into logical groups
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departmentalization
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organizations with a clear simple chain of command from top to bottom
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line organizations
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organizations with line managers forming the primary chain of authority in the company and staff departments working alongside the departments
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line and staff organizations
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managers who supervise the functions that contribute directly to profitability
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line managers
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managers who supervise the functions that provide advice and assistance to the line departments
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staff managers
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organizations with a flexible structure that brings together specialists from different areas of the company to work on individual projects
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matrix organization
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leaders who hoard decision making power for themselves and typically issue orders without consulting their followers
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autocratic leaders
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leaders who share power with their followers
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democratic leaders
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leaders who set objectives for their followers but give them freedom to choose how they will accomplish those goals
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free rein leaders
