Ch 1 Key Terms Flashcards
conceptual skills
ability to think through complex systems and problems
Controlling
process of monitoring activities, measuring results and comparing them with goals, and correcting performance when necessary
creativity
generation of meaningful ideas by individuals or teams
critical thinking
ability to diagnose situations and predict patterns of behaviors, which result in better decision-making
decisional roles
managerial roles in which managers are responsible for making judgements and decisions based on available information and analysis of the situation
effectiveness
level to which people or organizations achieve agreed-upon goals
efficiency
means of using the smallest amount of resources to achieve the greatest output
entrepreneur
Individuals who plan, organize, and lead high-risk business opportunities
entrepreneurial mindset
ability to quickly sense opportunities, take action, and get organized under uncertain conditions
first-line managers
managers who direct daily activities for producing goods and services
fixed mindset
belief that talents, intelligence, and abilities are set traits
growth company
organization that increases its annual revenue faster than its competitors in the same industry or market
growth mindset
belief that talent, intelligence, and abilities can be developed through dedication, effort and persistence
habit
something that is done often and regularly, sometimes on an unconscious level
improvisation
art of spontaneously creating something without preparation
informational roles
managerial roles in which managers gather, assess, and communicate information to individuals and teams in support of the organization’s values, mission, vision, and goals
interpersonal roles
managerial roles in which managers build relationships with the people they work with and act as a public symbol for the many people they represent
large organizations
orgs with more than 500 employees
leading
process of effectively motivating and communication with people to achieve goals
management
process of working with people and distributing an org’s resources to achieve goals efficiently and effectively
managerial roles
organizational expectations that determine the actions of managers, including interpersonal, informational, and decisional roles
middle managers
managers who direct the work of first-line managers and are responsible for divisions or departments
midsize organizations
orgs with between 100 and 500 employees
mission
org’s central purpose, why it exists and what type of org it is (for-profit or nonprofit)
Multinational corporation
org with operations in multiple countries and usually more than 10,000 employees that designs, develops, and sells products and services to customers all over the world
Nonprofit organization
orgs that are required by IRS to reinvest all profits back into the org as apposed to distributing money to investors or employees
organization
group of people working together to achieve specific goal
Organizing
process of orchestrating people, actions, resources, and decisions to achieve goals
planning
process of setting goals for the future, designing strategies, and deciding on the actions and resources needed to achieve success
relational skills
ability to collaborate and communicate effectively with others
self-efficacy
belief and confidence in our own abilities to deal with certain situations
self-leadership
process through which people intentionally influence their thinking and behavior to achieve their objectives
skills
talents or abilities that enable a person to complete a particular task, interaction, or process effectively and efficiently
small organizations
orgs with fewer than 100 employees
start-up
newly formed org with limited or no operational history
student organization
org formed to engage students further in the college experience through academic, political, religious, sports, environmental, and social action
technical skills
ability to perform job-specific tasks
top managers
managers who set the org’s direction and make decisions that affect everybody
values
core ethics and principles of an org through meaningful statements and beliefs
vision
description of what the organization hopes to achieve in the long term
