Chapter 7 Mgmt and Leadership Flashcards
Controlling
Function of evaluating an organization’s performance against its objectives.
Corporate culture
Organization’s system of principles, beliefs, and values,
Decision making
Process of recognizing a problem or opportunity, evaluating alternative solutions, selecting and implementing an alternative, and assessing the results.
Delegation
Managerial process of assigning work to employees.
Departmentalization
Process of dividing work activities into units within the organization
Directing
Guiding and motivating employees to accomplish organizational objectives.
Empowerment
Giving employees authority and responsibility to make decisions about their work
Leadership
Ability to direct or inspire people to attain certain goals
Management
Process of achieving organizational objectives through people and other resources.
Mission statement
Written explanation of an organization’s business intentions and aims.
Objectives
Guide posts by which managers define the organization’s desired performance in such areas as new-product development, sales, customer services, growth, environmental and social responsibility, and employee satisfaction.
Organization
Structured group of people working together to achieve common goods.
Organizing
Process of blending human and material resources through a formal structure of tasks and authority; arranging work, dividing tasks among employees, and coordinating them to ensure implementation of plans and accomplishment of objectives.
Planning
Process of anticipating future events and conditions and determining courses of action for achieving organizational objectives.
SWOT analysis
Strengths, weaknesses, opportunities, and threats. By systematically evaluating all four of these factors, firms can then the best strategies for gaining a competitive advantage.
