Key Terms Chapter 1

Question 1

Conceptual skills

Answer 1

The ability to think through complex systems and problems.

Question 2

Controlling

Answer 2

The process of monitoring activities, measuring results and comparing them with goals, and correcting performance when necessary.

Question 3

Creativity

Answer 3

The generation of meaningful ideas by individuals or teams.

Question 4

Critical thinking

Answer 4

The ability to diagnose situations and predict patterns of behaviors, which result in better decision-making.

Question 5

Decisional roles

Answer 5

Managerial roles in which managers are responsible for making judgements and decisions based on available information and analysis of the situation.

Question 6

Effectiveness

Answer 6

The level to which people or organizations achieve agreed-upon goals.

Question 7

Efficiency

Answer 7

The means of using the smallest amount of resources to achieve the greatest output.

Question 8

Entrepreneur

Answer 8

Individuals who plan, organize, and lead high risk business opportunities.

Question 9

Entrepreneurial mindset

Answer 9

The ability to quickly sense opportunities, take action, and get organized under uncertain conditions.

Question 10

First-line managers

Answer 10

Managers who direct daily activities for producing goods and services.

Question 11

Fixed mindset

Answer 11

The belief that talents, intelligence, and abilities are set traits.

Question 12

Growth company

Answer 12

An organization that increases its annual revenue faster than its competitors in the same industry or market.

Question 13

Growth mindset

Answer 13

The belief that talent, intelligence, and abilities can be developed through dedication, effort, and persistence.

Question 14

Habit

Answer 14

Something that is done often and regularly, sometimes on an unconscious level.

Question 15

Improvisation

Answer 15

The art of spontaneously creating something without preparation.

Question 16

Informational roles

Answer 16

Managerial roles in which managers gather, assess, and communicate information to individuals and teams in support of the organization’s values, mission, vision, and goals.

Question 17

Interpersonal roles

Answer 17

Managerial roles in which managers build relationships with the people they work with and act as a public symbol for the many people they represent.

Question 18

Large organizations

Answer 18

Organizations with more than 500 employees.

Question 19

Leading

Answer 19

The process of effectively motivating and communicating with people to achieve goals.

Question 20

Management

Answer 20

The process of working with people and distributing an organization’s resources to achieve goals efficiently and effectively.

Question 21

Managerial roles

Answer 21

Organizational expectations that determine the actions of managers, including interpersonal, informational, and decisional roles.

Question 22

Middle managers

Answer 22

Managers who direct the work of first-line managers and are responsible for divisions and departments.

Question 23

Midsize organizations

Answer 23

Organizations between 100 and 500 employees.

Question 24

Mission

Answer 24

An organization’s central purpose, why it exists and what type of organization it is (for-profit or nonprofit).

Question 25

Multinational corporation

Answer 25

An organization with operations in multiple countries and usually more than 10,000 employees that designs, develops, and sells products and services to customers all over the world.

Question 26

Nonprofit organizations

Answer 26

Organizations that are required by the IRS to reinvest all profits back into the organization, as opposed to distributing that money to investors or employees.

Question 27

Organization

Answer 27

A group of people working together to achieve a specific goal.

Question 28

Organizing

Answer 28

The process of orchestrating people, actions, resources, and decisions to achieve goals.

Question 29

Planning

Answer 29

The process of setting goals for the future, designing strategies, and deciding on the actions and resources needed to achieve success.

Question 30

Relational skills

Answer 30

The ability to collaborate and communicate effectively with others.

Question 31

Self-efficacy

Answer 31

The belief and confidence in our own abilities to deal with certain situations.

Question 32

Self-leadership

Answer 32

A process through which people intentionally influence their thinking and behavior to achieve their objectives.

Question 33

Skills

Answer 33

Talents or abilities that enable a person to complete a particular task, interaction, or process effectively and efficiently.

Question 34

Small organizations

Answer 34

Organizations with fewer than 100 employees.

Question 35

Start-ups

Answer 35

A newly formed organization with limited or no operational history.

Question 36

Student organization

Answer 36

An organization formed to engage students further in the college experience through academic, political, religious, sports, environmental, and social action.

Question 37

Technical skills

Answer 37

The ability to perform job-specific tasks.

Question 38

Top managers

Answer 38

Managers who set the organization’s direction and make decisions that affect everybody.

Question 39

Values

Answer 39

The core ethics and principles of an organization through meaningful statements and beliefs.

Question 40

Vision

Answer 40

A description of what the organization hopes to achieve in the long term.