Midterm: Ch: 6-9 Flashcards
Management
Process used to accomplish organizational goals through planning, leadership, and organizational research.
Vision
An encompassing explanation of why a corporation exists and where it is trying to head.
Mission Statement
An outline of the fundamental purposes of an organization.
Ex: Self concept, philosophy, long term survival needs, social responsibility, exc
Goals
Broad long term accomplishments an organization wishes to obtain
SWOT Analysis
A planning tool used to analyze an organizations strengths, weaknesses, opportunities, and threats.
Top management
Highest level of management (President, CEO, COO, CFO)
Make strategic plans.
Supervising/First Line Management
Managers who are directly responsible for supervising workers and evaluating performance.
Middle Management
The level of management that includes general managers and division managers. Responsible for tactical planning.
Strategic Planning
Process of determining major goals of the organization and the policies and strategies for obtaining and using resources to achieve these goals.
Tactical 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.
Operational Planning
The process of setting work standards and scheduled necessary to implement company’s tactical objectives.
Contingency Planning
Process of preparing alternative course of action for when first objective plan fails.
Fayol’s Concept
Principles of Organization Unity of Command (one boss) Hierarchy of Authority (known manager) Division of Labor (division by specialization) General interest (workers thing of themselves as a team) Authority Degree of Centralization Clear communication Order Equity to peers Pride for firm (Esprit de corps)
Weber’s Concept
Organizational Theory Included Job descriptions Written rules, guidelines, and records Consistent procedures, regulations, and policies Promotion based on qualifications
In favor of bureaucracy
Chain of Command
Line of authority that moves from the top to of a hierarchy to the lowest level.
Centralized/Corporate Authority
An organizational structure in which decision making authority is maintained at the top level of management at the company headquarters.
Decentralized Authority
An organizational structure in which decision making authority is relegated to lower level managers more familiar with local decisions than HQ management could.