BE 3.02 Terms

Human resources

People who work to produce goods or services.

Management function

Groups of activities related to management (i.e., planning, organizing, staffing, directing, and controlling).

Controlling

The management function that monitors the work effort.

Directing

The management function of providing guidance to workers and work projects.

Organizing

The management function of setting up the way the business’s work will be done.

Planning

The management function of deciding what will be done and how it will be accomplished.

Staffing

A human resources management activity that involves recruiting, interviewing, hiring, orienting, and dealing with job changes for a company’s employees.

Conceptual skills

The ability to see the “big picture” and think about how things will work together.

Interpersonal skills

The ability to communicate, interact, and build relationships with others.

Technical skills

Ability to understand the specialized aspects of jobs.

First-line management

Supervisors who work directly with the employees who carry out the business’s routine work.

Mid-level management

Managers who report to top-level management and who have supervisors who report to them.

Top-level management

All managers who are responsible for the operation of the company or a business unit.

Strategic planning

Long-range planning (three to five years) for the company as a whole.

Tactical planning

Short-range planning (one year) of specific actions the business will take.

Professional development

Steps that an individual takes to enhance or improve skills or traits that are needed to excel in her/his career/profession.

Benefits

Advantages or payments employees receive in addition to their wages (e.g., sick time, holiday pay, health insurance).

Compliance

Fulfilling the requirements of the law.

Material resources

Equipment and supplies used by businesses in their operation.