Management A Practical Introduction CHAPTER 1 Terms – Flashcards
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Competitive Advantage
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Is the ability of an organization to produce goods or services more effectively than competitors do, thereby outperforming them.
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Innovation
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Finding ways to deliver new or better goods or services
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Internet
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The global network of independently operating but interconnected computers, linking hundreds of thousands of smaller networks around the world.
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e-commerce
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The buying and selling of goods or services over computer networks.
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e-business
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using the internet to facilitate every aspect of running a business.
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email
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text message and documents transmitted over a computer network
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Project management Software
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Programs for planning and scheduling the people, costs, and resources to complete a project on time.
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database
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Computerized collections of interrelated files.
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telecommute
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Working from home or remote locations using a variety of information technologies.
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video conferencing
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using video and audio links along with computers to let people in different locations see, hear, and talk with one another.
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Collaborative Computing
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Using state of the art computer software and hardware, will help people work better together.
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knowledge Management
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The implementing of systems and practices to increase the sharing of knowledge and information throughout and organization
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Sustainability
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Economic development that meets the needs of the present without compromising the ability of future generations to meet their own needs
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Management Process
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Also called the four management functions: Planning, Organizing, Leading, and Controlling.
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Planning
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Setting goals and deciding how to achieve them.
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Organizing
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arranging tasks, people, and other resources to accomplish the work.
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Leading
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Motivating, directing and otherwise influencing people to work hard to achieve the organizations goals.
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Controlling
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Monitoring performance, comparing it with goals, and taking corrective action as needed.
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Top Managers
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make long term decisions about the overall direction of the organizations and establish the objectives, policies, and strategies for it.
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Middle Managers
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implement the policies and plans of the top managers above them and supervise and coordinate the activities of the first line managers below them.
