Organisational Structure, Production, Management, Leadership, CSR & Financial Vocabulary - Review

Vocabulary flashcards covering organizational structure, production processes, management roles, leadership styles, Maori concepts, CSR, and financial concepts.

Organisational structure

The way a business arranges people, roles and reporting relationships to achieve its goals.

Organisational chart

A diagram showing the organisation's structure with standard symbols for roles and lines of authority.

Line of reporting (chain of command)

The path from top management down through the levels showing who reports to whom.

Levels of hierarchy

The number of management layers in an organisation.

Span of control

The number of direct reports a manager has.

Subordinate

An employee who reports to a supervisor or manager.

Bureaucracy

Excessive paperwork and checks that slow operations due to too many levels of hierarchy.

Decentralised

Authority is moved from the top to lower levels of the hierarchy.

Outsourcing

Hiring an external organization to perform a business function.

Tall structure

A management structure with many levels of authority.

Flat structure

A structure with few management levels and a wider span of control.

Matrix structure

An organisation where employees report to more than one manager and work across functions.

Shamrock Structure

Organisation with three types of workers: core staff, contract workers, and flexible part-timers.

Core workers

Full-time, essential employees who provide stability and reliability.

Contractual fringe

Freelancers/contractors/specialists hired for specific tasks.

Flexible workforce

Part-time or temporary workers used to provide flexibility.

Promotion opportunities

chances for employees to advance to higher-level positions.

Empowerment

Giving employees authority to make decisions and act without constant approval.

Local responsiveness

Ability to respond to local market needs by moving decision-making closer to the customer.

Narrow span of control

A manager has few direct reports, leading to more levels of supervision.

Wide span of control

A manager has many direct reports, leading to a flatter structure.

Inputs

Resources used in the production process (materials, energy, information, etc.).

Capital

Financial assets or equipment used to produce goods and services.

Natural resources

Raw materials provided by nature used in production.

Human resources

People and their skills/workers contributing to production.

Enterprise (entrepreneurship)

The initiative to combine resources to produce goods/services and take risks.

Transformation process

The sequence of activities that converts inputs into outputs.

Job production

Producing customized products one at a time from start to finish.

Batch production

Producing a group of items in a batch before switching to another batch.

Flow production (continuous/line production)

A continuous production system where products move through stages on a line.

Productivity

Output per unit of input; the efficiency of production.

Lean production

A system to minimise waste and maximise value in production.

Transportation

Movement of raw materials and goods between locations.

Inventory

Stock of raw materials, work-in-progress and finished goods.

Service

An intangible product produced and consumed during interaction with the customer.

Intangible

Characteristic of services; cannot be physically touched.

Simultaneous

Produced and consumed at the same time in services.

Inseparable

The service provider is a core part of the product and cannot be separated.

Perishable

Services cannot be stored for later use or sale.

Proximity to the customer

Delivering services close to the customer in time and place.

Productivity and efficiency

Measures of how effectively inputs are turned into outputs.

Job production (definition)

Producing customized products from start to finish.

Plan (planning)

Setting goals and deciding what needs to be done to achieve them.

Organising

Arranging resources and tasks to implement plans.

Leading

Motivating and guiding people to achieve objectives.

Controlling

Monitoring progress toward goals and taking corrective action.

Frontline managers

Direct managers of frontline staff who handle daily operations.

Middle managers

Managers who oversee frontline managers and coordinate activities.

Senior managers

Top-level managers (e.g., CEO, CFO) who set strategy.

Autocratic (authoritarian) leadership

Manager makes all decisions with little input from others.

Democratic leadership

Manager involves the team in decision making and seeks opinions.

Laissez-Faire leadership

Manager gives employees a high degree of freedom to make decisions.

Formal leaders

Officially appointed leaders within an organization.

Informal leaders

Not officially appointed but influential due to personality or expertise.

Transactional management

Management focused on routine, clear structures, and rewards/punishments.

Transformational leadership

Leadership that inspires change, motivation and momentum.

Kaitiakitanga

Guardianship of natural resources and environment; sustainable use.

Rangatiratanga (self-determination)

Ownership, leadership and decision-making that reflects values and empowers the community.

CSR (Corporate Social Responsibility)

Business approach that considers social and environmental impacts and engages stakeholders long-term.

Stakeholders

Individuals or groups affected by business decisions (employees, customers, suppliers, community, shareholders).

CSR benefits

Improved brand image, customer loyalty, staff morale and local community investment.

CSR costs/risks

Costs and resource use; potential conflicts with profitability or risk of greenwashing.

Policies

Statements of expectations and rules guiding decisions and behaviour.

Procedures

Step-by-step instructions showing how tasks should be done.

Values

Core beliefs that guide behaviour and decision-making in a business.

Vision statement

A description of what the organization aspires to become.

Mission statement

A statement of the organization’s purpose and primary objectives.

Corporate governance concepts (Tiranga context)

Values-guidelines that frame operations, including statements of purpose and priorities.

Budget

Planned financial figures for revenues, expenses, and capital over a period.

Revenues

Monies received from sales of goods or services.

Expenses

Costs incurred in earning revenues (payments to suppliers, staff, etc.).

Assets

Resources owned by the business with future economic benefits.

Liabilities

Obligations owed to others (debts, payables).

Equity

Owner’s share of the business; capital invested plus retained earnings.

Income statement (Profit and Loss)

Financial statement showing revenues minus expenses to determine profit or loss.

Balance sheet (Statement of financial position)

Snapshot of assets, liabilities and equity at a point in time.

Statement of cash flows

Details cash inflows and outflows during a period.

Variance analysis

Investigation of differences between actual results and budgets/standards.

Contingency plans

Plans to respond to unexpected events or variances.

Policies and procedures (P&P)

Formal rules and step-by-step processes guiding daily activities.

Strategic planning

Long-term planning to set direction and allocate resources to achieve goals.

Stakeholder engagement

Actively involving stakeholders to understand needs, concerns and opportunities.