7-9 Flashcards
What is a hierarchy
A system in which one person is at the top of the organization and there is a ranked or sequential ordering from the top down of managers and others who are responsible to that person
What is chain of command
The line of authority that moves from the top of the hierarchy to the lowest level
What is bureaucracy
The term for an organization with many layers of managers
What is decentralized authority
When decision-making is delegated to lower-level managers and employees more familiar with local conditions
What is centralized authority
Decision-making is concentrated at the top level of management
What is a tall organizational structure
Adding layer after layer of management
What is flat organizational structure
Fewer layers of management and abroad span of control
What is production
The creation of finished goods and services using the factors of production which are land labor capital entrepreneurship and knowledge
What are the factors of production
Land labor capital entrepreneurship and knowledge
What is production management
Describing production management activities that help firms create goods
What is operations management
Specialized area in management that converts or transforms resources including human resources like the logical skills and innovations into goods and services
What is form utility
The value producers add to materials in the creation of finished goods and services such as by transforming silicon into computer chips or putting services together to create a vacation package
What is C a D or computer aided design
Computers helping to design products in a process called computer aided design
What is CIM
Computer integrated manufacturing
What is lean manufacturing
The production of goods using less of everything that in mass production