Intro to Business Management. Midterm study guide-Chapter 6

quality
A measure of how closely a product conforms to predetermined standards and customer expectations
top managers
Those at the highest level of the organization’s management hierarchy; they are responsible for setting strategic goals, and they have the most power and responsibility in the organization
corporate culture
A set of shared values and norms that support the management system and that guide management and employee behaviour
conceptual skills
The ability to understand the relationship of parts to the whole
decision making
The process of identifying a decision situation, analyzing the problem, weighing the alternatives, choosing an alternative and implementing it, and evaluating the results
democratic leaders
Leaders who delegate authority and involve employees in decision making
crisis management
A system for minimizing the harm that might result from some unusually threatening situations
interpersonal skills
Skills required to understand other people and to interact effectively with them
mentor
An experienced manager or employee with a wide network of industry colleagues who can explain office politics, serve as a role model for appropriate business behaviour, and help other employees negotiate the corporate structure
situational leadership
A variation on contingency leadership in which the manager adapts his or her style based on the readiness of employees to accept changes or task responsibilities
organizing
The process of arranging resources to carry out an organization’s plans
autocratic leaders
Leaders who do not involve others in decision making
transactional leaders
Leaders who focus on meeting established goals and making sure current business operations run smoothly
operational plans
Plans that lay out the actions and the resource allocation needed to achieve operational objectives and to support tactical plans; usually defined for less than one year and developed by first-line managers
Transformational leaders
Leaders who can reshape the destinies of their organizations by inspiring employees to rise above self-interest and create new levels of success for the company as a whole
management
Process of coordinating resources to meet organizational goals
mission statement
A statement of the organization’s purpose, basic goals, and philosophies
middle managers
Those in the middle of the management hierarchy; they develop plans to implement the goals of top managers and coordinate the work of first-line managers
contingency leadership
Adapting the leadership style to what is most appropriate given current business conditions
controlling
The process of measuring progress against goals and objectives and correcting deviations if results are not as expected
vision
A viable view of the future that is rooted in but improves on the present
roles
Behavioural patterns associated with or expected of certain positions
planning
Establishing objectives and goals for an organization and determining the best ways to accomplish them
laissez-faire leaders
Leaders who leave the actual decision making up to employees
total quality management (TQM)
A comprehensive strategic management approach that builds quality into every organizational process as a way of improving customer satisfaction
tactical plans
Plans that define the actions and the resource allocation necessary to achieve tactical objectives and to support strategic plans; usually defined for a period of one to three years and developed by middle managers
First-line managers
Those at the lowest level of the management hierarchy; they supervise the operating employees and implement the plans set at the higher management levels; also called supervisory managers
standards
Criteria against which performance is measured
management pyramid
An organizational structure comprising top, middle, and lower management
strategic plans
Plans that establish the actions and the resource allocation required to accomplish goals; usually defined for periods of two to five years and developed by top managers
coaching
Helping employees reach their highest potential by meeting with them, discussing problems, and offering suggestions and encouragement
technical skills
The ability and knowledge to perform the mechanics of a particular job
leading
The process of guiding and motivating people to work toward organizational goals
participative management
Sharing information with employees and involving them in decision making
administrative skills
Technical skills in information gathering, data analysis, planning, organizing, and other aspects of managerial work
SWOT analysis
Analyzing a company by identifying the strengths, weaknesses, opportunities, and threats
objective
A specific, short-range target or aim
goal
A broad, long-range target or aim