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What is an organization?
A social entity that is goal directed and deliberately structured.
the process of working with people and resources to accomplish organizational goals.
What are management resources?
People, money, knowledge, information, technology, physical resources
List 4 key elements that make the current business landscape different from the past.
- Technological change.
- The importance of knowledge and ideas.
- Collaboration across organizational "boundaries."
List 8 advantages of the internet.
- Means for manufacturing goods and services.
- Distribution channel.
- An information service.
- Drives down costs.
- Speeds up globalization.
- Improves efficiency of decision making.
- Facilitates design of new products, from pharmaceuticals to financial services.
Define knowledge management.
Practices aimed at discovering and harnessing an organization's intellectual resources
The introduction of new goods and services.
It is the excellence of your product. Referred to as attractiveness, lack of defects, reliability, and long-term dependability.
The speed and dependability with which is organization delivers what customers want.
Fast and timely execution, response, and delivery of results
Define cost competitiveness
Keeping costs low to achieve profits and be able to offer prices that attractive to consumers.
List the 4 functions of management.
Planning, Organizing, Leading, Controlling
Systematically making decisions about the goals and activities that an individual, a group, a work unit, or the overall organization will pursue.
Assembling and coordinating the human, financial, physical, informational, and other resources needed to achieve goals.
Stimulating people to be high performers.
Monitoring performance and making needed changes.
Define top level managers.
Senior executives responsible for the overall management and effectiveness of the organization
Define middle level managers
Managers located in the middle layers of the organizational hierarchy, reporting to top-level executives.
Define front line managers.
Lower-level managers who supervise the operational activites of the organization.
What are the 3 main skills managers need to have?
Technical, conceptual & decision, and interpersonal and communication
Define technical skill.
The ability to perform a specialized task involving a particular method or process.
Define conceptual and decision skills.
Skills pertaining to the ability to identify and resolve problems for the benefit of the organization and its members.
Define interpersonal and communication skills.
People skills; the ability to lead, motivate, and communicate effectively with others.
Define emotional intelligence.
The skills of understanding yourself, managing yourself, and dealing effectively with others.
Define social capital.
Goodwill stemming from your social relationship