Chapter 6 Terms

Management
The process of coordinating people and other resources to achieve the goal of an organization
Human Resources
The people who staff an organization and uses the other resources to achieve the goals of the organization
Material Resources
The tangible physical resources an organization uses
Financial Resources
The funds an organization uses to meet its obligation to investors and creditors
Information Resources
The information about external business environmental conditions that a firm uses to its competitive advantage
Planning
establishing organizational goals and deciding how to accomplish them
Mission
A statement of the basic purpose that makes an organization different from others
Strategic Planning Process
The establishment of an organization’s major goals and objectives and the allocation of resources to achieve them
Goal
An end result that an organization is expected to achieve over a one to ten year period
Objective
A specific statement detailing what an organization intends to accomplish over a shorter period of time
SWOT analysis
The identification evaluation of a firms strengths, weaknesses, opportunities, and threats
Core competencies
Approaches and processes that a company performs well that may give it an advantage over its competitors
Plan
An outline of the actions by which an organization intends to accomplish its goals and objectives
Strategic Plan
An organization’s broadest plan, developed as a guide for major policy setting and decision making
Tactical Plan
A smaller scale plan developed to implement a strategy
Operational Plan
A type of plan designed to implement tactical-plan
Contingency Plan
A plan that outlines alternative courses of action that may be taken if an organization’s other plans are disrupted or become ineffective
Organizing
The grouping of resources and activities to accomplish some end result in an efficient and effective manner
Leading
The process of influencing people to work toward a common goal
Motivating
The process of providing reasons for people to work in the best interests of an organization
Directing
The combined processes of leading and motivating
Controlling
The process of evaluating and regulating activities to ensure that the goals are achieved
Top manager
An upper level executive who guides and controls the overall fortunes of an arganiaztion
Middle Manager
A manager who implements the strategy and major policies developed by the top manager
First Line Manager
A manager who coordinates and supervises the activities of operating employees
Operations Manager
A manager who manages the systems that convert resources into good and services
Marketing Manager
A manager who is responsible for facilitating the exchange of products between and organization and its customers or clients
Financial Manager
A manager who is primarily responsible for and organization’s financial resources
Human resources manager
A person charged with managing an organization’s human resources program
Administrative Manager
A manager who is not associated with any specific functional area but who provides overall administrative guidance and leadership
Conceptual Skills
The ability to think in abstract terms
Analytic Skills
The ability to identify problems correctly, generate reasonable alternatives, and select the “best” alternative to solve problems
Interpersonal Skills
The ability to deal effectively with other people
Technical skills
Specific skills needed to accomplish a specialized activity
Communication Skills
The ability to speak, listen, and write effectively
Leadership
The ability to influence other
Autocratic Leadership
Task-orientated leadership style which workers are told what to do and how to accomplish it
Participative Leadership
Leadership-style in which all members of a team are involved in identifying essential goals and developing strategies to reach those goals
Entrepreneurial Leadership
Personality-based leadership style in which the manager seeks to inspire workers with the vision of what can be accomplished to benefit stakeholders
Decision making
The act of choosing one alternative from a set of alternatives
Problem
The discrepancy between and actual condition and a desired conditions
Total Quality Management (TQM)
The coordination of efforts directed at improving customers satisfaction, increasing employee participation, strengthening suppliers partnership, and facilitating an organizational atmosphere of continuous quality improvement
Benchmarking
A process user to evaluate the products, processes, or management practices of another organization that is superior in some ways in order to improve quality