Chapter 19 Vocab Flashcards
Authorization of employees to make decisions or take actions on their own
Empowerment
Groups of employees with freedom to function without direct supervision, but with responsibility for results
Self-Managed work teams
A manager who uses systematic, analytical methods of management
Professional Manager
A firm’s overall plan for the future
Long-Range Plan (Strategic Plan)
A plan that governs a firm’s operations for one year or less
Short-Range Plan
A document that expresses future plans in monetary terms
Budget
The process of developing workable solutions through discussions or interactions
Negotiation
A Small Business Association sponsored group of retired executives who give free advice to small business owners
Service Corps of Retired Executives (SCORE)
University Affiliated centers offering consulting, education, and other support to small business owners
Small Business Development Centers (SBDCs)
The process of developing and engaging in mutually beneficial relationships
Networking
The official, vertical channel of communication in an organization
Chain of Command
A simple organizational structure in which each person reports to one supervisor
Line Organization
An organizational structure that includes staff specialists who assist management
Line-and-staff Organization
The number of employees who are supervised by one manager
Span of Control
Granting subordinates the right to act or make decisions
Delegation of authority
