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Management
The pursuit of organizational goals efficiently and effectively by connecting people to purpose, resources, and each other
Division of Labor
A productive way organizations get things done by distributing tasks among individuals.
Organizational Goals
Provide purpose and direction, leading to better performance when set and achieved.
Effectiveness
Doing the right things to achieve organizational goals.
Efficiency
Doing things right by using resources without waste.
Competitive Advantage
The need for organizations to maximize finite resources to survive in competitive markets.
Sustainability
Economic development that meets present needs without compromising future generations' ability to meet their own needs.
Ethical Standards
The consideration of ethics in business practices, which may conflict with profit motives.
Top Managers
Responsible for long-term decisions and establishing objectives, policies, and strategies for the organization.
Middle Managers
Implement policies and plans from top managers and supervise first-line managers.
Front-Line Managers
Make short-term operating decisions and direct daily tasks of non-managerial personnel.
Team Leader
A manager facilitating team activities to achieve key results.
Functional Manager
Responsible for one specific organizational activity.
General Manager
Oversees several organizational activities.
Technical Skills
Job-specific knowledge needed to perform well in a specialized field.
Conceptual Skills
The ability to think analytically and understand how different parts of an organization work together.
Human/Soft Skills
The ability to cooperate, motivate, and communicate effectively with others.
Interpersonal Roles
Managers interact with people inside and outside their work units (e.g., figureheads, leaders).
Informational Roles
Managers receive and communicate information (e.g., monitor, disseminator).
Decisional Roles
Managers use information to make decisions and solve problems (e.g., entrepreneurs, negotiators).
Entrepreneurship
The process of taking risks to create a new business or opportunity.
Entrepreneur
An individual who identifies a new opportunity for a product or service and starts a business.
For-Profit Organizations
Entities focused on making money.
Nonprofit Organizations
Entities focused on offering services rather than profit.
Mutual-Benefit Organizations
Organizations aimed at aiding their members.
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