flash cards

business exam ch.6 words only

Term Definition
management process designed to achieve an organization's objectives by using its resources effectively and efficiently in a changing environment
managers those individuals in organizations who make decisions about the use of resources and who are concerned w/ planning, organizing, staffing, directing and controlling
mission statement of an organization's fundamental purpose and basic philosophy
strategic plans those plans that establish the long-range objectives and overall strategy or course of action by which a firm fulfills its mission
tactical plans short-range plans designed to implement the activities and objectives specified in the strategic plans
operational plans short-term plans that specify what actions individuals , work groups, or departments need to accomplish in order to achieve the tactical plan and ultimately the strategic plan
crisis management an element in planning that deals with potential disasters such as product tampering, oil spills, fire, earthquake, computer virus, or airplane crash
middle managers responsible for tactical planning that will implement the general guidelines established by top management
networking building of relationships and sharing of information w colleagues who can help managers achieve the items on their agendas
analytical skills the ability to identify relevant issues, recognize their importance, understanding the relationship between them and perceive the underlying causes of the situation
conceptual skills the ability to think in abstract terms and to see how parts fit together to form a whole
employment empowerment when employees are provided with the ability to take on responsibilities and make decisions about their jobs
production and operation managers those who develop and administer the activities involved in transforming resources

Leave a Reply

Your email address will not be published. Required fields are marked *