DEFINITIONS

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Mitzi
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277075
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DEFINITIONS
Updated:
2014-06-18 21:23:07
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MANAGEMENT
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DEFINITIONS
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DEFINITIONS
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  1. RESOURCES
    An organization’s assets-financial, physical (tangible), human, intangible-used to develop, manufacture, and deliver products or services to customers.
  2. CAPABILITIES
    An organization’s skills and abilities that enable it to do the work activities needed in its business.
  3. CORE COMPETENCIES
    An organization’s major value-creating skills, capabilities, and resources that determine its competitive weapons.
  4. QUALITY MANAGMENT (TQM)
    A philosophy of management driven by continual improvement and responding to customer needs and expectations.
  5. STRENGTHS
    Any activities the organization does well or any unique resources that it has.
  6. WEAKNESSES
    Activities the organization does not do well or resources it needs but does not possess.
  7. OPPORTUNITIES
    Positive trends in external environmental factors.
  8. THREATS
    Negative trends in external environmental factors.
  9. SWOT
    An analysis of the organization’s Strengths, Weaknesses, Opportunities, and Threats.
  10. PROCEDURE
    Series of interrelated sequential steps.
  11. RULE
    Explicit statement that tells decision maker what he or she can or cannot do.
  12. POLICY
    A guideline for making a decision.
  13. LINE AUTHORITY
    • Responsible for the essential activities of the
    • organization, including production and sales. Line managers have the authority to issue orders to those in the chain of command. The president, the production manager, and the sales manager are examples of line managers.
  14. STAFF AUTHORITY:
    Work in the supporting activities of the organizations, such as HR or accounting. Staff managers have advisory authority and cannot issue orders to those in the chain of Command (except their own dept.) The VP of accounting, HR manager, and the marketing research manager are examples.
  15. FUNCTIONAL STRUCTURE:
    Grouping similar or related occupational specialties together.
  16. SIMPLE STRUCTURE:
    An organizational structure with low departmentalization, wide spans of control, authority is centralized in a single person, and little formalization. Most commonly used by small businesses in which the owner and manager are one in the same.
  17. DIVISIONAL STRUCTURE:
    • An organizational structure that consists of separate business units or divisions.
    • Each unit or division has relatively limited autonomy, with a divisional manager responsible for performance who has strategic and operational authority over his/her unit.
  18. JOB ANALYSIS:
    An assessment that defines jobs and the behaviours necessary to perform them.
  19. LABOUR UNION
    An organization that represents employees and seeks to protect their interests through collective bargaining.
  20. COLLECTIVE AGREEMENT:
    Special type of commercial agreement, usually as one negotiated “collectively” between management and trades unions. It regulates the terms and conditions of employees in their workplace.
  21. CHAIN OF COMMAND:
    The continuous line of authority that extends from upper organizational levels to the lowest levels and clarifies who reports to whom.
  22. PERT:
    is a method to analyze the involved tasks in completing a given project, especially the time needed to complete each task, and to identify the minimum time needed to complete the total project. It was developed primarily to simplify the planning and scheduling of large and complex projects.
  23. CONTROL:
    The process of monitoring activities to ensure that they are being accomplished as planned, and correcting any significant deviations.
  24. PRODUCTIVITY:
    • The overall output of goods or services produced divided by the inputs needed to
    • generate that output.
  25. RECRUITMENT:
    The process of locating, identifying, and attracting capable applicants.
  26. HR PLANNING:
    Process by which managers ensure that they have the right number and kinds of people in the right places, who are capable of effectively and efficiently performing assigning tasks.
  27. JOB SPECIFICATION:
    • A statement of the minimum qualifications that a person must possess to perform a
    • given job successfully.
  28. JOB DESIGN:
    The process of looking at a job to determine what set of tasks is required, how they are done, and in what order.
  29. SELECTION PROCESS:
    Screening job applicants to ensure that the most appropriate candidates are hired.
  30. BENCHMARKING:
    search for the best practices of competitors and non-competitors giving superior performance.
  31. SCHEDULING:
    The process of listing of necessary activities, order of accomplishment, and time need.
  32. ORGANIZATION:
    A deliberate arrangement of people who act together to accomplish some specific purpose.
  33. CORPORATE GOVERNANCE:
    the system used to govern a corporation so that the interests of corporate owners are protected.
  34. ORGANIZATIONAL CULTURE:
    Consists of the organization’s set of beliefs, values, and norms. Provides many benefits to the org through loyalty, commitment, direction, productivity and retention.
  35. MISSION STATEMENT:
    A written declaration that sets out or defines an organization’s purpose.
  36. BUSINESS MODEL:
    A strategic design for how a company intends to profit from its strategies, work processes, and work activities.
  37. HEURISTICS:
    Simplify decision making. Rules of thumb that managers use to simplify decision making.
  38. EMPOWERMENT:
    another term for decentralization where more decision making authority is given to employees.
  39. ENVIRONMENTAL SCANNING:
    • ‘the study and interpretation of the political, economic, social and technological events and trends which influence a business, an industry or even a total market’.
    • [2] The factors which need to be considered for environmental scanning are events, trends, issues and expectations of the different interest groups. Issues are often forerunners of trend breaks.
  40. ETHICS:
    Rules and principles that define right and wrong behavior.
  41. GAANT CHART:
    Illustrate the start and finish dates of the terminal elements and summary elements of a project. Terminal elements and summary elements comprise the work breakdown structure of the project. Modern Gantt charts also show the dependency (i.e. precedence network) relationships between activities. Gantt charts can be used to show current schedule status using percent-complete shadings and a vertical "TODAY" line as shown here.

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