Introduction to Business Administration Practice Flashcards

This set of vocabulary flashcards covers introductory business administration concepts including management functions, historical theories, managerial roles, environmental analysis, and business organization forms.

Management

According to Frederick Winslow Taylor, the art of knowing what to do, when to do, and seeing that it is done in the best and cheapest way; it is the science of making people and resources productive.

Planning

The determination of the course of action to achieve desired results, involving forecasting general and specific framework references for efficiency and economy.

Organizing

Entails arranging and allocating human and non-human resources, designing structures, establishing lines of authority, and ensuring roles and responsibilities are understood.

Directing or Leading

The process of guiding, motivating, and influencing individuals and teams toward the achievement of defined organizational goals and objectives.

Controlling

The management process of measuring and correcting activities by monitoring and evaluating performance to ensure alignment with missions and goals.

Classical Management Theory

Developed during the Industrial Revolution, it focuses on job content, standardization, division of labor, and a scientific approach toward the organization.

Behavioral Management Theory

An approach focused on understanding and influencing employee behavior, motivation, and satisfaction to enhance organizational productivity.

Quantitative School of Management

Involves using quantitative techniques such as statistics, information models, and computer simulations to improve decision-making.

Systems Management Theory

Encourages a broad perspective of the organization consisting of four elements: inputs, transformation processes, outputs, and feedback.

Contingency School of Management

An "it all depends" approach that recognizes the need to understand situational differences and respond appropriately rather than following a "one best way" argument.

Frederick Taylor

Often called the "Father of scientific management," he believed organizations should study tasks and develop precise procedures.

Gantt chart

A bar graph developed by Henry Gantt that measures planned and completed work along each stage of production.

Division of work

One of Fayol's $14$ principles where employee specialization increases output by making workers more skilled and efficient.

Unity of Command

A principle stating that employees should have only one direct supervisor.

Unity of Direction

A principle where teams with the same objective work under the direction of one manager using one plan to ensure coordinated action.

Esprit De Corps

A principle suggesting that organizations should strive to promote team spirit and unity.

Hawthorne studies

Experiments by Elton Mayo concluding that productivity increases resulted from supervisory arrangements rather than lighting or changes in worker benefits.

Figurehead

An interpersonal role where managers symbolize their organization, represent it at ceremonial events, and serve as a face of authority.

Monitor

An informational role where managers gather data from internal and external sources to stay informed about industry changes and performance.

Resource Allocator

A decisional role where managers assign budget, time, and personnel to different projects and tasks based on priority.

Technical Skills

As suggested by Robert L. Katz, the ability to use a special proficiency or expertise to perform particular tasks.

Conceptual Skills

The ability to think analytically as part of the managerial framework provided by Robert L. Katz.

Internal Environment

Factors within an organization's control, such as organizational culture, management structure, employees, and resources.

PESTLE analysis

A tool used to understand general environmental forces, standing for political, economic, sociocultural, technological, environmental, and legal factors.

Sole Proprietorship

The simplest form of business where a single individual owns and operates the entity, assuming all responsibility and unlimited liability.

Partnership

A business form involving two or more individuals who jointly own and manage the business, sharing profits, losses, and decision-making.

Stock Corporation

A corporation with capital stock divided into shares, authorized to distribute dividends or surplus profits to shareholders.

Cooperative

A business owned and operated by its members (customers, employees, or suppliers) who share in profits and decision-making.

Limited Liability Company (LLC)

A structure combining corporation features (limited liability) and partnership features (flexibility in management and taxation).