Organization and Management Flashcards
Financial Bottom Line
Focuses on maximizing the organization’s financial well-beings
Triple Bottom Line
Enhances organization’s well being by reducing the negative socio and ecological aspect
Early Management Thought
They achieve business goals by suggesting and guessing
Scientific Management Era
Through observation, experimentation, and analysis, you can work on building an efficient environment.
Social Person Era
PURPOSE is a better motivation than money. People productivity is dependent on relation and attention.
Modern Era
Managers need to find out what motivates employees to implement strategies to support skill development over time
Strategic plan
long term plans that your business would want to achieve
Strategic plan
Tactical Plan
Short term steps to achieve a strategic plan
Operational Plan
1 yr plan to support the tactical plan
Decision Making Roles
Entrepreneur and negotiator
Informational Role
interpreting plans and giving them to the lower mgt
interpersonal role
create a vision and inspire others
conceptional skills
being able to analyze a business and create good decision
human skills
managing, leading, and motivating groupmates
Environmental Forces and scanning
gathering info about events and relationships within an organization’s internal and external environment
economic growth
increase in GDP
economic development
structural transformation of the economy
Structural Transformation
Change in GDP due to jobs and agricultural activities
Demographic transition
Fertility and death rates; life expectancy and population
Process of urbanization
demographic transition and moving from a rural area to an urban area
Sole proprietorship
owned by 1 person and owns all the assets, profits, and even liabilities
partnerships
owned by 2 or more people. Agrees on decisions, and profits and losses to be shared
communication
knowledge in business English
organization
efficient use of time and resources
agility
critical thinking
domain knowledge
understanding the process from the bottom up
service business
providing service to customers such as a spa
manufacturing business
creating their own products with raw materials
merchandising business
purchasing products and selling them
hybrid business
combination of all three classification of business
