Organisation and Management Flashcards
Organisational structure
the formal, internal framework of a business that shows how it is managed and organised
Functional departments
the main activities of business: finance, marketing, operations, human resources and research and development
Hierarchy
the number of levels in an organisational structure
Chain command
the route through which authority is passed down through an organisation
Subordinate
an employee who is below another employee in the organisation’s hierarchy
Span of control
the number of subordinates reporting to each supervisor/manager
Delayaring
reducing the size of the hierarchy by removing one or more levels
Centralised organisation
one where all the important decision-making power is held at head office or the centre
Decentralised organisation
one where the decision-making powers are passed down the organisation to lower
Directors
elected or appointed members of the company with the responsability for determing and implementing the company’s policy. Some also have management roles.
Annual General Meeting (AGM)
a meeting for shareholders that limited companies must hold once a year
Chief Executive Officer (CEO)
the most senior manager, responsible for the performance and success of a company
Manager
an individual who is in charge of a certain group of tasks or a certain area or department
