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Conceptual Skills
The ability to think through complex systems and problems
Controlling
The process of monitoring activities, measuring results and comparing them with goals, and correcting performance when necessary
Creativity
The generation of meaningful ideas by individuals or teams
Critical Thinking
The ability to diagnose situations and predict patterns of behaviors, which result in better decision-making
Decisional Roles
Managerial roles in which managers are responsible for making judgments and decisions based on available information and analysis of the situation
Effectiveness
The level to which people or organizations achieve agreed-upon goals
Efficiency
The means of using the smallest amount of resources to achieve the greatest output
Entrepreneur
Individuals who plan, organize, and lead high-risk business opportunities
Entrepreneurial Mindset
The ability to quickly sense opportunities, take action, and get organized under uncertain conditions
First-Line Managers
Managers who direct daily activities for producing goods and services
Fixed Mindset
The belief that talents, intelligence, and abilities are set traits
Growth Company
An organization that increases its annual revenue faster than its competitors in the same industry or market
Growth Mindset
The belief that talent, intelligence, and abilities can be developed through dedication, effort, and persistence
Habit
Something that is done often or regularly, sometimes on an unconscious level
Improvisation
The art of spontaneously creating something without preparation
Informational Roles
Managerial roles in which managers gather, assess, and communicate information to individuals and teams in support of the organization’s values, mission, vision, and goals
Interpersonal Roles
Managerial roles in which managers build relationships with the people they work with and act as a public symbol for the many people they represent
Large Organizations
Organizations with more than 500 employees
Leading
The process of effectively motivating and communicating with people to achieve goals
Management
The process of working with people and distributing an organization’s resources to achieve goals efficiently and effectively
Managerial Roles
Organizational expectations that determine the actions of managers, including interpersonal, informational, and decisional roles
Middle Managers
Managers who direct the work of first-line managers and are responsible for divisions or departments
Midsize Organizations
Organizations with between 100 and 500 employees
Mission
An organization’s central purpose, why it exists and what type of organization it is (for-profit or nonprofit)
Multinational Corporation
An organization with operations in multiple countries and usually more than 10,000 employees that designs, develops, and sells products and services to customers all over the world
Nonprofit Organizations
Organizations that are required by the Internal Revenue Service (IRS) to reinvest all profits back into the organization, as opposed to distributing that money to investors or employees
Organization
A group of people working together to achieve a specific goal
Organizing
The process of orchestrating people, actions, resources, and decisions to achieve goals
Planning
The process of setting goals for the future, designing strategies, and deciding on the actions and resources needed to achieve success
Relational Skills
The ability to collaborate and communicate effectively with others
Self-efficacy
The belief and confidence in our own abilities to deal with certain situations
Self-leadership
A process through which people intentionally influence their thinking and behavior to achieve their objectives
Skills
Talents or abilities that enable a person to complete a particular task, interaction, or process effectively and efficiently
Small Organizations
Organizations with fewer than 100 employees
Start-up
A newly formed organization with limited or no operational history
Student Organization
An organization formed to engage students further in the college experience through academic, political, religious, sports, environmental, and social action
Technical Skills
The ability to perform job-specific tasks
Top Managers
Managers who set the organization’s direction and make decisions that affect everybody
Values
The core ethics and principles of an organization through meaningful statements and beliefs
Vision
A description of what the organization hopes to achieve in the long term