Ch. 19 Professional Management and the Small Business Flashcards
Authorization of employees to make decisions or take actions on their own.
empowerment
The process of granting to subordinates the right to act or make decisions.
delegation of authority
The official, vertical channel of communication in an organization.
chain of command
A document that expresses future plans in monetary terms.
budget
An organizational structure that includes staff specialists who assist management.
line-and-staff organization
A firm’s overall plan for the future.
long-range plan (strategic plan)
The process of developing workable solutions through discussions or interactions.
negotiation
The process of developing and engaging in mutually beneficial informal relationships.
networking
Managers who use systematic, analytical methods of management.
professional managers
An SBA-sponsored group of working and retired executives who give free advice to small business owners.
Service Corps of Retired Executives (SCORE)
A plan that governs a firm’s operations for one year or less.
short-range plans
SBA-sponsored centers offering consulting, education, and other support to small business owners.
Small Business Development Centers (SBDCs)
The number of employees who are supervised by one manager.
span of control
