Key Terms Ch 1 Flashcards
Skills pertaining to the ability to identify and resolve problems for the benefit of the organization and its members.
Conceptual and Decision Skills
The management function of monitoring performance and making needed changes.
Controlling
Keeping costs low to achieve profits and be able to offer prices that are attractive to consumers.
Cost Competitiveness
The skills of understanding yourself, managing yourself, and dealing effectively with others.
Emotional Intelligence
Lower-level managers who supervise the operational activities of the organization.
Frontline Managers
The introduction of new goods and services.
Innovation
People skills; the ability to lead, motivate, and communicate effectively with others.
Interpersonal and communication skills
Practices aimed at discovering and harnessing an organization’s intellectual resources.
Knowledge management
The management function that involves the manager’s efforts to stimulate high performance by employees.
Leading
The process of working with people and resources to accomplish organizational goals.
Management
Managers located in the middle layers of the organizational hierarchy, reporting to top-level executives.
Middle-level managers
The management function of assembling and coordinating human, financial, physical, informational, and other resources needed to achieve goals.
Organizing
The management function of systematically making decisions about the goals and activities that an individual, a group, a work unit, or the overall organization will pursue.
Planning
The excellence of your product (goods or services).
Quality
the speed and dependability with which an organization delivers what customers want.
Service
Goodwill stemming from your social relationships.
Social Capital
Fast and timely execution, response, and delivery of results.
Speed
The effort to minimize the use of resources, especially those that are not polluting and nonrenewable.
Sustainability
The ability to perform a specialized task involving a particular method or process.
Technical skill
Senior executives responsible for the overall management and effectiveness of the organization.
Top-level managers
The monetary amount associated with how well a job, task, good, or service meets user’s needs.
Value
