business in action final exam review

40 terms by nlauzon29

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Conflict

a perceived incompatibility of actions, goals, or ideas

Management

the process used to accomplish organizational goals through planning, organizing, leading, and controlling people and other organizational resources

Performance gap

A disparity between existing and desired performance levels

Whistleblower

Individuals who raise ethical concerns or issues to others inside or outside the organization.

Prejudice

A judgment or opinion formed without due examination of the facts.

Motivation

the force that moves people to act. motivation may be either instinctive (drives) or learned.

Intrapreneurship

entrepreneurship within an organization, allowing employees flexibility and authority in pursuing and developing new ideas

Glass ceiling effects

invisible barrier that prevents women and minorities from advancing in the workplace

Delegation

The process managers use to transfer authority and responsibility to positions below them in the hierarchy

Active listening

empathic listening in which the listener echoes, restates, and clarifies

Decision making process

begining with identificatuin of a problem and ends with evalution of implemented solutions
steps in dicision making
1.identify and define the problem
2. generate and evaluate possible solutions
3.choose a solution
4. implement the solution
5. evaluate results

Policy

a standing plan that communicates broad guidelines for decisions and action

Code of ethics

Principles of conduct within an organization that guide decision making and behavior.

Globalization

The trend toward increased cultural and economic connectedness between people, businesses, and organizations throughout the world.

Discrimination

unfair treatment of a person or group on the basis of prejudice

Personal wellness

the pursuit of one's full potential through a personal health promo program

4 functions of management

planning, organizing, leading, controlling

body language

nonverbal communication through gestures, facial expressions, behaviors, and posture

Product life cycle

Four stages that product goes through over its life: introduction, growth, maturity, and decline.

merger

the combination of two or more commercial companies

ownerships

sole proprietors, partnerships, and corporations

perception

how one sees things

feedback

The receiver's response to a message

crisis

a situation that suddenly becomes very dangerous or difficult

Strategic leadership

inspires people to continuously change, refine, and improve strategies and their implementation.

social loafing

the tendency for people in a group to exert less effort when pooling their efforts toward attaining a common goal than when individually accountable

group think

the mode of thinking that occurs when the desire for harmony in a decision making group overrides a realistic appraisal of alternatives

Entrepreneur

a person who starts up and takes on the risk of a business

controlling

determines to what extent the business is accomplishing the goals it set out to reach in the planning stage

organizing

management process of determining how best to arrange an organization's resources and activities into a coherent structure

partnership

general partnership
limited partnership
limited liability

MNC Multinational corporations

a corporation that operates on a worldwide scale, without significant ties to any one nation or region

Product life cycle

Introduction, Growth, Maturity, Decline

Equity finance

the sale of stock to raise money

Dept

money owed by one personor compant to somone else

Conflic

is a disagreement over issues of substance and or an emotional antagonism
conflict resolution
avoidance
accommodation
competition
compromise
collaboration

types of leadership

Autocratic, Democratic, Laissez-Faire

stages of team development*****

a synthesis of research on small groups suggest that here are five distinct phases in the life cycle of any team;
1 forming- a stage of initial orientation and interpersonal testing
2. Storming- a stage of conflict over tasks and working as a team
3. Normong- a stage of consolidation around task and operation
4. Performing- a stage of teamwork and focused task

5. Adjourning- a stage of task completion and disengagement

leadership styles

Authoritarian
Democratic
Laissez-faire

acquisition

The taking over the control of one company by another.

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