Chapter 1 Flashcards
Conceptual and Decision Skills
Skills pertaining to the ability to identify and resolve problems for the benefit of the organization and its members.
Controlling
The management function of monitoring performance and making needed changes.
Cost Competitiveness
Keeping costs low to achieve profits and be able to offer prices that are attractive to consumers.
Emotional intelligence
The skills of understanding yourself, managing yourself, and dealing effectively with others.
Frontline managers
Lower-level managers who supervise the operational activities of the organization.
Innovation
The introduction of new goods and services.
Interpersonal and communcation skills
People skills, the ability to lead, motivate, and communicate effectively with others.
Knowledge Management
Practices aimed at discovering a harnessing an organization’s intellectual resources.
Leading
The management function that involves the managers efforts to stimulate high performance by employees.
Social Capital
Goodwill stemming from your social relationships..
Technical skill
The ability to perform a specialized task involving a particular method or process
Acquision
One firm buying another
Benchmarking
The process of comparing an organization practices and technologies with those of other companies.
Buffering
Creating supplies of excess resources in case of unpredictable needs.
Competitive Enviornment
The immediate environment surrounding a firm includes supplies customers rivals
