Unit 3 - Company Structure Flashcards
a system in which members of an organization or society are ranked according to relative status or authority.
(flat/steep) hierarchy
the process or work of keeping financial accounts.
accounting
the process or activity of running a business, organization, etc.
administration
a person who is in charge of a worker or organization
boss
the amount of money you are allowed to spend for a particular purpose
budget
the maximum amount that something can contain
capacity
a system in a military or civil organization by which instructions are passed from one person to another.
chain of command
the top-ranking person in a business organization, ultimately responsible for taking managerial decisions
chief executive officer (CEO)
a person with whom one works in a profession or business.
colleagues
a division of a large organization such as a government, university, or business, dealing with a specific area of activity
department
a person employed for wages or salary, especially at non-executive level.
employee
a person or organization that employs people.
employer
the management of large amounts of money, especially by governments or large companies
finance
an activity that is natural to or the purpose of a person or thing
function
A design that groups similar or related occupational specialties together.
functional structure
the personnel department of an organization
human resources (HR)
done or existing within an organization
in-house
a complete list of items such as property, goods in stock, or the contents of a building
inventory
The power to give orders to subordinates.
line authority
a person with direct managerial responsibility for a particular employee
line manager
is a direct linear relationship of command and deference between superiors and their subordinates
line structure
the portion of a market controlled by a particular company or product
market share
the action or business of promoting and selling products or services, including market research and advertising.
marketing
is the practice of managing individuals with more than one reporting line
matrix management
department of all operational corporate areas
operating division
obtain (goods or a service) by contract from an outside supplier
outsourcing
the action of making or manufacturing from components or raw materials, or the process of being so manufactured
production
the amount by which revenue from sales exceeds costs in a business.
profit margin
change the way in which (something) is organized
reorganization
work directed towards the innovation, introduction, and improvement of products and processes.
research and development (R&D)
the exchange of a commodity for money
sales
a sales team
sales force
lower in rank or position.
subordinate
higher in rank, status, or quality.
superior
a company that provides a product, or the materials to make a product
supplier
having an obligation for something
to be responsible for
work jointly on an activity or project
to collaborate
to reduce something
to cut back
entrust (a task or responsibility) to another person, typically one who is less senior than oneself
to delegate
be responsible to
to report to
