Untitled Flashcards Set

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

  2. Compliance:Fulfilling the requirements of the law

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

  4. Controlling:The management function that monitors the work effort

  5. Data processing:Converting facts and figures into useful information

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

  7. First-line management:Supervisors who work directly with the employees who carry out the business’s routine work

  8. Human resources:People who work to produce goods or services

  9. Information management:The process of accessing, processing, maintaining, evaluating, and disseminating knowledge, facts, or data for the purpose of assisting business decision making

  10. Information:Knowledge, facts, or data presented in a useful form

  11. Interpersonal skills:The ability to communicate, interact, and build relationships with others

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

  13. Management information system (MIS):An integrated technology that assists with an organization’s information management needs

  14. Material resources:Equipment and supplies used by businesses in their operation

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

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

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

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

  19. Proprietary information:Private information that belongs to an organization and cannot be released to the public

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

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

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

  23. Technical skills:Ability to understand the specialized aspects of jobs

  24. Top-level management:All managers who are responsible for the operation of the company or a business unit.

  25. Trade secret:Undisclosed information within a particular business or industry

  1. Financial analysis: The process of planning, maintaining, monitoring, controlling, and reporting the use of financial resources 

  2. Human resources management: The process of planning, staffing, leading, and organizing the employees of the business

  3. Information management: The process of accessing, processing, maintaining, evaluating, and disseminating business knowledge, facts, or data

  4. Marketing: The process of creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large

  5. Operations: The day-to-day activities required for continued business functioning

  6. Outsourcing: involves using outside organizations or consultants to perform one or more of the primary business activities.

  7. Production: The process or activity of producing goods and services

  8. Strategic management: The process of planning, controlling, and organizing an organization or department

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