Essentials of Contemporary Management 5th Ed (CHAPTER 1)

Competitive Advantage
The ability of one organization to outperform other organizations because it produces the desired goods or services more efficiently and effectively than they do.
Conceptual Skills
The ability to analyze and diagnose a situation and to distinguish between cause and effect.
Evaluating how well an organization is achieving its goals and taking action to maintain or improve performance; one of the four principal tasks of management.
Core Competency
The specific set of departmental skills, knowledge and experience that allows one organization to outperform another.
A group of people who work together and possess similar skills or use the same knowledge, tools, or techniques to perform their jobs.
A measure of the appropriateness of the goals an organization is pursuing and of the degree to which the organization achieves those goals.
measure of how well or productively resources are used to achieve a goal.
The expansion of employees’ knowledge, tasks, and decision-making responsibilities
First-line manager
A manager who is responsible for the daily supervision of non-managerial employees.
Global organizations
Organizations that operate and compete in more than one country.
Human Skills
The ability to understand, alter, lead and control the behavior of other individuals and groups.
The process of creating new or improved goods and services or developing better ways to produce or provide them.
Articulating a clear vision and energizing and enabling organizational members so that they understand the part they play in achieving organizational goals; one of the four principal tasks of management.
The planning, organizing, leading and controlling of human and other resources to achieve a organizational goals efficiently and effectively.
Middle Manager
A manager who supervises first-line managers and is responsible for finding the best way to use resources to achieve organizational goals.
Organizational Performance
A measure of how efficiently and effectively a manager uses resources to satisfy customers and achieve organizational goals.
Organizational Structure
A formal system of task and reporting relationships that coordinates and motivates organizational members so they work together to achieve organizational goals.
Collections of people who work together and coordinate their actions to achieve a wide variety of goals or desired future outcomes.
Structuring working relationships so organizational members to work together to achieve organizational goals; one of the four principal tasks of management.
Contracting with another company, usually abroad, to have it perform an activity the organization previously performed itself.
Identifying and selecting appropriate goals; one of the four principal tasks of management.
Downsizing an organization by eliminating the jobs of large numbers of top, middle, and first-line managers, and non-managerial employees.
Self-Managed Teams
A group of employees who assume responsibility for organizing, controlling and supervising their own activities and monitoring the quality of the goods and services they provide.
A cluster of decisions about what goals to pursue, what actions to take and how to use resources to achieve goals.
Technical Skills
The job-specific knowledge and techniques required to perform an organizational role.
Top manager
A manager who establishes organizational goals, decides how departments should interact, and monitors the performance of middle managers.
Top Management Team
A group composed of the CEO, the COO, and the heads of the most important departments.
Turnaround Management
The creation of a new vision for a struggling company based on a new approach to planning and organizing to make better use of a company’s resources to allow it to survive and prosper.
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