 | Term | Definition |
| |
Corporate Governance |
the role of a corporation's executive staff and board of directors in ensuring that the firm's activities meet the goal of the firms stateholders |
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Authority |
the legitmate right to make decisions and to tell other people what to do |
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Hierarchy |
the authority levels of the organizational pyramid |
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Delegation |
the assignment of new or additional responsibilities to a subordinate |
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Span of Control |
The number of subordinates who report directly to an executive or supervisor |
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Matrix Organization |
An organization composed of dual reporting relationships in which some managers report to two supervisors a functional manager and a divisional manager |
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Organization Chart |
The reporting structure and division of labor in an organization |
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Right-to-work |
Legislation that allows employees to work without having to join a union |
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Union Shop |
an organization with a union and a union security clause specifying that workers must join the union after a set period of time |
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Arbitration |
the use of a neutral third party to resolve a labor dispute |
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Labor Relations |
the system of relations between workers and management |
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Flexible Benefit Programs |
Benefit programs in which employees are given credits to spend on benefits that fit their unique needs |
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360 Degree Appraisal |
process of using multile sources of appraisal to gain a comprehensive perspective on one's performance |
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Management By Objectives |
A process in which objectives set by a subordinate and a supervisor must be reached within a given time period |
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Performance Appraisal |
Assessment of an employee's job performance |
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Diversity Training |
Programs that focus on identifying and reducing hidden biases against people with differences and developing the skills needed to manage a diversified workforce |
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Team training |
Training that provides employees with the skills and perspectives they need to work in collaboration with others |
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Needs Assessment |
an analyis identifying the jobs people and departments for which training is necessary |
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Assessment Center |
a managerial performance test in which candidates participate in a variety of exercise and situations |
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Recruitment |
the development of a pool of applicants for jobs in organization |
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Job Analysis |
a tool for determining what is done on a given job and what should be done on that job |
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Human Capital |
the knowledge skills and abilities of employees that have economic value |
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Human Resource Management |
Formal systems for the management of people within an organization |
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Just-In-Time |
A systen that calls for subassemblies and components to be manufactured in very small lots and delivered to the next stage of the production process just as they are needed |
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Logistics |
the movement of the right goods in the right amounde to the right place at the right time |
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Lean Manufacturing |
An operation that strives to achieve the highest possible productivity and total quality cost effectively by eliminating unnecessary steps in the production process and continually striving for improvement |
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Mass Customization |
the production of varied indiviually customized products at the low cost of standardization mass-produced products |
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Continuous Process |
a process that is highly automated and has a continous productio flow |
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ISO 9000 |
A series of quality standards developed by a committee working under the international organization for standardization to improve total quality in all businesses for the benefit of producers and consumers |
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Customer Relationship Management |
A multifaceted process focusing on creating two-way exchanges with customers foster intimate knowledge of their needs, wants, and buying patterns |
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Rightsizing |
A successful effort to achieve an appropriate size at which the company performs most effectively |
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Downsizing |
the planned elimination of positions or jobs |
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Economies of Scope |
Economies in which materials and processes employed in one product can be usede to make othe related products |
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Learning Organization |
An organizatio skilled at creating acquiring and transferring knowledge and at modifying its behavior to reflect new knowledge and insights |
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Strategic Alliance |
A formal relationship created among independent organizations with the purpose of joint pursuits of mutual goals |
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Standardization |
establishing common routines and procedures that apply uniformly to everyone |
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Differentiation |
an aspect of the organizations internal environment ceated by job specialization and the division of labor |
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Integration |
the degree to which differentiated work units work together and coordinate their efforts |
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Divison Labor |
the assignment of diffferent tasks to different people or groups |
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Specialization |
a process in which different individuals and units perfom different tasks |
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Coordination |
the procedures that link the various parts of an organization for the purpose o achieving the organizations overall mission |
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