Business Management - Course Concepts and Fundamentals

Vocabulary practice flashcards covering course guidelines, foundational management definitions, managerial roles and skills, and macro-environmental PESTEL analysis.

Business Organization

A systematic arrangement of people brought together to accomplish some specific purpose, defined by three primary characteristics: goals, people, and structure.

Management

The process of getting things done, effectively and efficiently, through and with people.

Efficiency

Doing things right and getting the most output out of the least input.

Effectiveness

Doing the right things to achieve organizational goals.

Planning

The management function based on Henri Fayol's work ($1916$) that involves determining courses of action and finding ways to achieve the organization's purpose to keep it focused.

Organizing

The management function that entails coordinating activities and resources by arranging and structuring work to accomplish organizational goals.

Leading

The management function centered on managing, motivating, and directing people, acting as a leader for everyone in the organization.

Controlling

The management function responsible for monitoring and evaluating activities, specifically evaluating the performance of planning, organizing, and leading.

Interpersonal Roles

A category of managerial roles identified by Henry Mintzberg ($1973$) that involve people-oriented duties, comprising the roles of Figurehead, Leader, and Liaison.

Informational Roles

A category of managerial roles identified by Henry Mintzberg ($1973$) focused on collecting, receiving, and disseminating information, comprising the roles of Monitor, Disseminator, and Spokesperson.

Decisional Roles

A category of managerial roles identified by Henry Mintzberg ($1973$) that involve making critical choices and decisions, comprising Entrepreneur, Disturbance Handler, Resource Allocator, and Negotiator.

Conceptual Skills

Managerial skills described by Robert L. Katz that encompass the cognitive ability to work with ideas, build strategic plans, set direction, and grasp complex relationships.

Interpersonal Skills

Managerial skills described by Robert L. Katz involving the capacity to work effectively with people, remain receptive to input, adjust ideas, and establish an environment of trust.

Technical Skills

Managerial skills described by Robert L. Katz based on specialized knowledge and proficiency to work with physical things and perform specific operational tasks.

Digital Disconnection Policy

A classroom rule establishing a device-free zone where all digital screens and electronics (laptops, phones, tablets, smartwatches) must be powered down and stored, making physical notebooks and pens mandatory.

Constellation Passport

A record used in the Business Management Contest formative assessment where students collect stars awarded for best participation, winning challenges, or top performance in summative evaluations.

PESTEL Analysis

A macro-environmental strategic framework used to evaluate external forces acting on a business across six dimensions: Political, Economic, Socio-cultural, Technological, Environmental, and Legal.

Digital Spain Plan 2025

A technological development strategy referenced in the Spanish PESTEL analysis designed to promote critical high-tech areas including $5\text{G}$, cybersecurity, Big Data, and Artificial Intelligence.

Estatuto de los Trabajadores

The Spanish statute regulating the rights and duties of workers within the legal framework, which was last reformed in $2015$.