Chapter 7 Flashcards
The process of utilizing company resources to accomplish company goals
Management
Creating ways to reach goals
Planning
Creating best conditions to achieve goals
Organizing
Creating a vision for the organization and guiding, training, coaching, and motivating others to work effectively to achieve the organization’s goals and objectives.
Leading
Establishing clear standards to determine whether or not an organization is progressing toward its goals and objectives, rewarding people for doing a good job, and taking corrective action if they are not.
Controlling
Outlines firms fundamental purposes
Mission Statement
Highest level, consists of the president and other key company executives who develop strategic plans.
Top Management
Includes general managers, division managers, and branch and plant managers who are responsible for tactical planning.
Middle Management
Directly responsible for supervising workers, evaluating daily work activities, and operational planning
Supervisory Management
Recruiting, hiring, and retaining the best people available to accomplish the company’s objectives
Staffing
Giving workers the education and tools they need to make decisions.
Enabling
Giving employees the authority to make decisions on their own without consulting a manager
Empowerment
Choosing amount 2 or more alternatives
Decision Making
The process of determining the major goals of the organization and the policies and strategies for obtaining and using resources to achieve those goals.
Strategic Planning
The process of developing detailed, short-term statements about what is to be done, who is to do it, and how it is to be done.
Tactical
