RSM100 Chapter 7
controlling - ANS-the function of assessing an organization's performance against its
goals.
Controlling has 4 basic steps: setting performance standards, monitoring actual
performance, comparing actual performance with the standards, and making corrections
if needed
corporate culture - ANS-- an organization's collection of principles, beliefs, and values.
- The corporate culture is influenced by the leadership style of its managers, the way the
firm communicates, and the overall work environment. A corporate culture is typically
shaped by the leaders who founded and developed the company and by the leaders
who were appointed since the founders left.
decision making - ANS-the process of seeing a problem or opportunity, assessing
possible solutions, selecting and carrying out the best-suited plan, and assessing the
results.
Managers make two basic kinds of decisions: programmed decisions and
nonprogrammed decisions.
delegation - ANS-the managerial process of assigning work to employees.
departmentalization - ANS-the process of dividing work activities into units within the
organization.
directing - ANS-guiding and motivating employees to accomplish organizational goals.
Directing can include training (or retraining), setting up schedules, assigning tasks, and
monitoring progress
empowerment - ANS-giving employees shared authority, responsibility, and decision
making with their managers
leadership - ANS-the ability to direct or inspire people to reach goals.
, management - ANS-Management: the process of achieving organizational goals
through people and other resources. Combine human and technical resources in the
best way possible to achieve the company's goals.
mission statement - ANS-a written description of an organization's overall business
purpose and aims.
objectives - ANS-guideposts by which managers define the organization's desired
performance in such areas as new-product development, sales, customer service,
growth, environmental and social responsibility, and employee satisfaction.
organization - ANS-- a structured group of people working together to achieve common
goals.
- An organization features three key elements: human interaction, goal-directed
activities, and structure
organizing - ANS-the process of blending human and material resources through a
formal structure of tasks and authority: arranging work, dividing tasks among
employees, and coordinating them to ensure plans are carried out and goals are met.
Organizing involves classifying and dividing work into manageable units with a structure
that makes sense. Managers staff the organization with the best possible employees for
each job
planning - ANS-- Process of looking forward to future events and conditions and
deciding on the courses of actions for achieving organizational goals
- Effective planning helps a business to focus its vision, avoid costly mistakes, and seize
opportunities
- Planning should be flexible and responsive to changes in the business environments
and should involve managers from all levels of the organization
- Planning for the future is more important than ever because global competition is
getting stronger, technology continues to expand, and firms are bringing new
innovations to market faster
controlling - ANS-the function of assessing an organization's performance against its
goals.
Controlling has 4 basic steps: setting performance standards, monitoring actual
performance, comparing actual performance with the standards, and making corrections
if needed
corporate culture - ANS-- an organization's collection of principles, beliefs, and values.
- The corporate culture is influenced by the leadership style of its managers, the way the
firm communicates, and the overall work environment. A corporate culture is typically
shaped by the leaders who founded and developed the company and by the leaders
who were appointed since the founders left.
decision making - ANS-the process of seeing a problem or opportunity, assessing
possible solutions, selecting and carrying out the best-suited plan, and assessing the
results.
Managers make two basic kinds of decisions: programmed decisions and
nonprogrammed decisions.
delegation - ANS-the managerial process of assigning work to employees.
departmentalization - ANS-the process of dividing work activities into units within the
organization.
directing - ANS-guiding and motivating employees to accomplish organizational goals.
Directing can include training (or retraining), setting up schedules, assigning tasks, and
monitoring progress
empowerment - ANS-giving employees shared authority, responsibility, and decision
making with their managers
leadership - ANS-the ability to direct or inspire people to reach goals.
, management - ANS-Management: the process of achieving organizational goals
through people and other resources. Combine human and technical resources in the
best way possible to achieve the company's goals.
mission statement - ANS-a written description of an organization's overall business
purpose and aims.
objectives - ANS-guideposts by which managers define the organization's desired
performance in such areas as new-product development, sales, customer service,
growth, environmental and social responsibility, and employee satisfaction.
organization - ANS-- a structured group of people working together to achieve common
goals.
- An organization features three key elements: human interaction, goal-directed
activities, and structure
organizing - ANS-the process of blending human and material resources through a
formal structure of tasks and authority: arranging work, dividing tasks among
employees, and coordinating them to ensure plans are carried out and goals are met.
Organizing involves classifying and dividing work into manageable units with a structure
that makes sense. Managers staff the organization with the best possible employees for
each job
planning - ANS-- Process of looking forward to future events and conditions and
deciding on the courses of actions for achieving organizational goals
- Effective planning helps a business to focus its vision, avoid costly mistakes, and seize
opportunities
- Planning should be flexible and responsive to changes in the business environments
and should involve managers from all levels of the organization
- Planning for the future is more important than ever because global competition is
getting stronger, technology continues to expand, and firms are bringing new
innovations to market faster
