BUS X100 Exam 4 Study Guide

accountability - the principle that employees who accept an assignment and the authority to carry it out are answerable to a superior for the outcome. agenda - a calendar, containing both specific and vague items, that covers short-term goals and long-term objectives. analytical skills - the ability to identify relevant issues, recognize their importance, understand the relationships between them, and perceive the underlying causes of a situation. business ethics - principles and standards that determine acceptable conduct in business. centralized organization - a structure in which authority is concentrated at the top, and very little decision-making authority is delegated to lower levels. classical theory of motivation - theory suggesting that money is the sole motivator for workers. code of ethics - formalized rules and standards that describe what a company expects of its employees. committee - a permanent, formal group that performs a specific task. compressed workweek - a four-day (or shorter) period during which an employee works 40 hours. conceptual skills - the ability to think in abstract terms and to see how parts fit together to form the whole. controlling - the process of evaluating and correcting activities to keep the organization on course. decentralized organization - an organization in which decision-making authority is delegated as far down the chain of command as possible. delegation of authority - giving employees not only tasks, but also the power to make commitments, use resources, and take whatever actions are necessary to carry out those tasks. directing - motivating and leading employees to achieve organizational objectives. downsizing - the elimination of a significant number of employees from an organization. employee empowerment - when employees are provided with the ability to take on responsibilities and make decisions about their jobs. equity theory - an assumption of how much people are willing to contribute to an organization depends on their assessment of the fairness, or equity, of the rewards they will receive in exchange.