Unit 4 Definitions Flashcards
Organizing
• The process of arranging people and other resources to work together to accomplish a goal.
Organization Structure
•System of tasks, reporting relationships, and communication channels that link together diverse individuals and groups.
Functional structures
• People with similar skills and tasks are grouped together into formal work units.
• Members work in their functional areas of expertise. Eg. Accountant in finance
Divisional structures
• Group together people who work on the same product or process, serve similar customers, located in the same geographical region.
• eg product division-groceries(whole foods)
• Electronics
Product structures
focus on a single product or service
geographical structures
focus on the same location or geographical region.
customer structures
focus on the same customers or clients.
process structures
focus on the same processes.
bureaucracy
• A form of organization based on logic, order, and the legitimate use of formal authority.
• Formal rules and procedures.
Centralization
is the concentration of authority for making most decisions from the top levels of the organization
Decentralization
is the dispersion of authority to make decisions throughout all levels of the organization.
Sustainable innovation
creation of new products and processes that have lower environmental impacts than the available alternatives. –e.g. eco-friendly products, EV’s
Green innovation
• The process of turning new/existing products into innovations that reduce the carbon footprint of an organization or its products. minimizes the use of fossil fuels, reduces air pollution, conserves water, or reduces waste
• E.g. solar panels –efficient clean energy
Social entrepreneurship
• Pursues creative and innovative ways to solve pressing social problems.
Sustainable competitive advantages
Sustainable competitive advantage relies on creativity and innovation.
Innovation is the process of creating new ideas and putting them into practice
