Test 2

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  1. MANAGEMENT: The process used to accomplish organizational goals through planning, organizing, leading, and controlling people and other organizational resources.
    • Planning.
    • Organizing.
    • Leading.
    • Controlling.
  2. PLANNING: A management function that includes anticipating trends and determining the best strategies and tactics to achieve organizational goals and objectives
    • Setting organizational goals.
    • Developing strategies to reach those goals.
    • Determining resources needed.
    • Setting precise standards.
  3. ORGANIZING: A management function that includes designing the structure of the organization and creating conditions and systems in which everyone and everything works together to achieve the organization's goals and objectives.
    • Allocating resources, assigning tasks, and establishing procedures for accomplishing goals.
    • Preparing a structure (organization chart) showing lines of authority and responsibility.
    • Recruiting, selecting, training, and developing employees.
    • Placing employees where they'll be most effective.
  4. LEADING: Creating a vision for the organization and guiding, training, coaching, and motivating others to work effectively to achieve the organization's goals and objectives.
    • Guiding and motivating employees to wrok effectively to accomplish organizational goals and objectives.
    • Giving assignments.
    • Explaining routines.
    • Clarifying policies.
    • Providing feedback on performance.
  5. CONTROLLING: A management function that involves establishing clear standards to determine whether or not an organization is progressing toward its goals and objectives, rewarding people for doing a good job, and taking corrective action if they are not.
    • Measuring results against corporate objectives.
    • Monitoring performance relative to standards.
    • Rewarding outstanding performance.
    • Taking corrective action when necessary.
  6. VISION: An emcompassing explanation of why the organization exists and where it's trying to head.
  7. MISSION STATEMENT: An outline of the fundamental purposes of an organization.
    • The organization's self concept.
    • Its philosophy.
    • Long term survival needs.
    • Customer needs.
    • Social Responsibility.
    • Nature of the product or service.
  8. GOALS: The broad, long-term accomplishments an organization wishes to attain.
  9. OBJECTIVES: Specific, short-term statements detailing how to achieve the organization's goal.
  10. SWOT ANALYSIS: A planning tool used to analyze an organization's strengths, weaknesses, opportunities, and threats.
  11. STRATEGIC PLANNING: The process of determining the major goals of the organization and the policies and strategies for obtaining and using resources to achieve those goals.
  12. TACTICAL PLANNING: The process of developing detailed, short-term statements about what is to be done, who is to do it, and how it is to be done.
  13. OPERATIONAL PLANNING: The proces of setting work standards and schedules necessary to implement the company's tactical objectives.
  14. CONTINGENCY PLANNING: The process of preparing alternative courses of action that may be used if the primary plans dont achieve the organization's objectives.
  15. DECISION MAKING: Choosing among two or more alternatives.
Card Set:
Test 2
2011-10-23 01:28:06
Intro Business

Chapter 7, 8, 9, 10, 11, 13, 14
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