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Study sets matching "business management chapter 1"

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Study sets matching "business management chapter 1"

13 terms
Business Management Chapter 1
Principle
Technical skill
Management
Glass ceililng
A basic truth or law
The specific abilities people use to perform their jobs.
The process of deciding how best to use a business's resource…
The invisible barrier that keeps women and minorities from mo…
Principle
A basic truth or law
Technical skill
The specific abilities people use to perform their jobs.
17 terms
Business Management - Chapter 1
Management
Planning
Organizing
Implementing
The process of accomplishing the goals of an organization thr…
Analyzing information and making decisions about... what needs t…
Determining how plans can be accomplished most effectively an…
Carrying out plans and helping employees to work effectively.
Management
The process of accomplishing the goals of an organization thr…
Planning
Analyzing information and making decisions about... what needs t…
25 terms
Business Management Chapter 1
Business
Production
Marketing
Finance
An organization that produces or distributes a good or servic…
Making a product or providing a service.
The activities between business and customers involved in buy…
All the money matters involved in running a business
Business
An organization that produces or distributes a good or servic…
Production
Making a product or providing a service.
25 terms
Business Management Chapter 1
Management
Efficiency
Effectiveness
Planning
getting work done through others
getting work done with a minimum of effort, expense, or waste
accomplishing tasks that help fulfill organizational objectives
determining organizational goals and a means for achieving them
Management
getting work done through others
Efficiency
getting work done with a minimum of effort, expense, or waste
30 terms
Chapter 1 Business Management
Management
Planning
Organizing
Implementing
Process of accomplishing the goals of an organization through…
Involves analyzing information and making decisions about wha…
Concerned with determining how plans can be accomplished more…
Focuses on carrying out the plans and helping employees to wo…
Management
Process of accomplishing the goals of an organization through…
Planning
Involves analyzing information and making decisions about wha…
12 terms
Business Management: Chapter 1
Wants
Needs
Goods
Services
Things that you do not have to survive, but would like to have.
Things that you must have in order to survive.
Physical and tangible products.
Tasks that businesses perform for consumers.
Wants
Things that you do not have to survive, but would like to have.
Needs
Things that you must have in order to survive.
24 terms
Management Business Chapter 1
business
profit
entrepreneur
revenue
Any activity that seeks to provide goods and services to othe…
The amount of money a business earns above and beyond what it…
A person who risks time and money to start and manage a busin…
The total amount of money a business takes in during a given…
business
Any activity that seeks to provide goods and services to othe…
profit
The amount of money a business earns above and beyond what it…
56 terms
Business Management - Chapter 1
Business
Profit
Not-For-Profit Organization
Economics System
An organization that seeks to earn profits by providing goods…
What remains (if anything) after a business's expenses are su…
An organization that provides goods and services to customers…
The way in which a nation allocates its resources among its c…
Business
An organization that seeks to earn profits by providing goods…
Profit
What remains (if anything) after a business's expenses are su…
17 terms
Business Management Chapter 1
Management
Planning
Organizing
Implementing
the process of accomplishing the goals of an organization thr…
analyzing information and making decisions about what needs t…
determining how plans can be accomplishing most effectively a…
focuses on carrying out the plans and helping employees to wo…
Management
the process of accomplishing the goals of an organization thr…
Planning
analyzing information and making decisions about what needs t…
25 terms
Business Management - Chapter 1
Business
Production
Marketing
Finance
An organization that produces or distributes a good or servic…
Involves making a product or providing a service.
Includes the activities between business and customers involv…
Deals with all of the money matters involved in running a bus…
Business
An organization that produces or distributes a good or servic…
Production
Involves making a product or providing a service.
26 terms
Business Management-Chapter 1
Management Principles (Competencies-no…
Overseeing work (mgmt competency)
Accomplishing tasks (mgmt competency)
Managing relationships (mgmt competency)
1. Overseeing work... 2. Accomplishing Tasks... 3. Managing Relatio…
From controller to enabler
From supervising individuals to leading teams
From conflict & competition to conversation & collaboration
Management Principles (Competencies-no…
1. Overseeing work... 2. Accomplishing Tasks... 3. Managing Relatio…
Overseeing work (mgmt competency)
From controller to enabler
37 terms
Business Management Chapter 1
Chief executive officer (CEO)
Classical era
Effectiveness
Efficiency
An organization's most senior manager.
A period in management literature between the 1880s and 1920s…
Measures the company's efforts to achieve the goals that will…
Measures of how productively resources are used to achieve a…
Chief executive officer (CEO)
An organization's most senior manager.
Classical era
A period in management literature between the 1880s and 1920s…
20 terms
Business Management Chapter 1 Terms
Industrial Businesses
Business
Efficiency
Innovation
- Businesses that produce goods used by other businesses or o…
- Organization that produces or distributes a good or service…
- Producing products and services quickly, at low cost, witho…
- Something entirely new
Industrial Businesses
- Businesses that produce goods used by other businesses or o…
Business
- Organization that produces or distributes a good or service…
14 terms
Chapter 1 Business Management
Profit
Business
Not-For-Profit Organisation
Profit Organisation
when income earned is greater than the costs of production
an organization that provides goods and services to consumers…
An organization that operates to provide social, educational,…
An organization who strives to generate wealth
Profit
when income earned is greater than the costs of production
Business
an organization that provides goods and services to consumers…
56 terms
Business Management IB - Chapter 1
Business definition
The main business functions and their…
Primary sector
Secondary sector
- An entity that tries to combine human, physical + financial…
- Operations: concerned with manufacturing the product... - Mar…
- Deals with the extraction of natural resources such as foss…
- Deals with construction/manufacturing processes (raw materi…
Business definition
- An entity that tries to combine human, physical + financial…
The main business functions and their…
- Operations: concerned with manufacturing the product... - Mar…
20 terms
Business Management Chapter 1
Business
Production
Marketing
Finance
An organization that produces or distributes a good or servic…
Making a product or providing a service.
The activities between business and customers involved in buy…
All the money matters involved in running a business
Business
An organization that produces or distributes a good or servic…
Production
Making a product or providing a service.
17 terms
Chapter 1: Business Management
Management
Planning
Organizing
Implementing
The process of accomplishing the goals of an organization thr…
Analyzing information and making decisions about what needs t…
Determining how plans can be accomplished most effectively an…
Carrying out the plans and helping employees to work effectiv…
Management
The process of accomplishing the goals of an organization thr…
Planning
Analyzing information and making decisions about what needs t…
17 terms
Chapter 1 Business Management
management
planning
organizing
implementing
the process of accomplishing the goals of an organization thr…
involves analyzing information and making decisions about wha…
is concerned with determining how plans can be accomplished m…
focuses on carrying out the plans and helping employees to wo…
management
the process of accomplishing the goals of an organization thr…
planning
involves analyzing information and making decisions about wha…
29 terms
Business Management Chapter 1
stakeholder
organisation
formal structure
informal structure
individual or group that has a vested interest in the activit…
two or more people who work together in a structured way to a…
the official division of responsibilities, authority, tasks a…
what actually happens in a organisation in relation to divisi…
stakeholder
individual or group that has a vested interest in the activit…
organisation
two or more people who work together in a structured way to a…
21 terms
Business Management Chapter 1
Profit
A Business
Finished Goods
Market Share
income earned is greater than the expenses
A business is an organisation that provides goods and/or serv…
ready for customers to buy and use
Refers to the business's share of the total industry sales fo…
Profit
income earned is greater than the expenses
A Business
A business is an organisation that provides goods and/or serv…
12 terms
Business Management - Unit 4, Chapter 1
Marketing
Goods
Services
Marketing Concepts
It is the activity set of institutions, and processing for cr…
Tangible items that have monetary value and satisfy your need…
Intangible items that have monetary value and satisfy your ne…
The idea that a business should strive to satisfy costumers n…
Marketing
It is the activity set of institutions, and processing for cr…
Goods
Tangible items that have monetary value and satisfy your need…
40 terms
Business Management Chapter 1
management
Planning
organizing
leading
the attainment of organizational goals in an effective and ef…
managers set goals
managers organize activities
managers motivate and communicate
management
the attainment of organizational goals in an effective and ef…
Planning
managers set goals
22 terms
Business Management - Chapter 1
Characteristics of a LSO
Organisation
Public Company
Private Company
Over 200 Employees, total assets over 200 million, large perc…
A group of people who come together to achieve specific goals…
Increase shareholder value, achieve profit targets, produce g…
Increase owner's wealth, achieve profit targets, produce good…
Characteristics of a LSO
Over 200 Employees, total assets over 200 million, large perc…
Organisation
A group of people who come together to achieve specific goals…
30 terms
Chapter 1 Business Management
Management
Planning
Organizing
Implementing
Process of accomplishing the goals of an organization through…
Involves analyzing information and making decisions about wha…
Concerned with determining how plans can be accomplished more…
Focuses on carrying out the plans and helping employees to wo…
Management
Process of accomplishing the goals of an organization through…
Planning
Involves analyzing information and making decisions about wha…
13 terms
Business management chapter 1
Management
Senior management
Middle management
Supervisory management
The process of deciding how best to use a business's resource…
Has several important functions
Responsible for meeting the goals that senior management sets
Makes sure that day-to-day operations of the business run smo…
Management
The process of deciding how best to use a business's resource…
Senior management
Has several important functions
26 terms
Business Management Chapter 1
Business
Domestic Goods
Foreign Goods
Services
An organization that produces or distributes a good or servic…
Products made by firms in the United States
Products made by firms in other countries
Intangible products that use mostly labor to satisfy consumer…
Business
An organization that produces or distributes a good or servic…
Domestic Goods
Products made by firms in the United States
9 terms
Business Management Chapter 1
management
Planning
Organizing
Implementing
1.... The organization and coordination of the activities of a b…
1.A basic management function involving formulation of one or…
1.Arranging several elements into a purposeful sequential or…
put (a decision, plan, agreement, etc.) into effect.
management
1.... The organization and coordination of the activities of a b…
Planning
1.A basic management function involving formulation of one or…
28 terms
Business Management Chapter 1
Business
Profit
Finished goods
Market share
An organisation that provides goods and/or services to consum…
When the income earned (revenue) is greater than the costs of…
Are ready for customers to buy and use
Refers to the business's share of the total industry sales fo…
Business
An organisation that provides goods and/or services to consum…
Profit
When the income earned (revenue) is greater than the costs of…
17 terms
Chapter 1 Business Management
Management
Planning
Organizing
Implementing
Is the process of accomplishing the goals of an organization…
Involves analyzing information and making decisions about wha…
Is concerned with determining how plans can be accomplished m…
Focuses on carrying out the plans and helping employees to wo…
Management
Is the process of accomplishing the goals of an organization…
Planning
Involves analyzing information and making decisions about wha…
58 terms
business management chapter 1
business
profit organization
nonprofit organization
goods - producing business
profit seeking organization and they satisfy customers with g…
earn money
goal is to break even with money, provide goods and services,…
produces tangible goods, need a lot of money to start up
business
profit seeking organization and they satisfy customers with g…
profit organization
earn money
34 terms
Business management chapter 1
Unique nature of LSO's
5 management functions
Private sector: private company
Staff turnover
- can mass produce goods and services and make a significant…
operations: to ensure the product or service is actually prod…
- not listed on the ASX... - 2-50 private shareholders... - restric…
measures the amount of staff who are leaving the organisation
Unique nature of LSO's
- can mass produce goods and services and make a significant…
5 management functions
operations: to ensure the product or service is actually prod…
17 terms
Chapter 1 Business Management
Management
Planning
Organizing
Implementing
The process of accomplishing goals of an organization through…
Involves analyzing information and making decisions about wha…
Is concerned with determining how plans can be accomplished m…
Focuses on carrying out the plans and helping employees to wo…
Management
The process of accomplishing goals of an organization through…
Planning
Involves analyzing information and making decisions about wha…
20 terms
Business Management Chapter 1
Principal
Future Value
Annuity
Present Value
Amount of money you deposit and on which interest is paid
Amount your original deposit will be worth in the future base…
A series of regular deposits
Amount of money you would need to deposit now in order to att…
Principal
Amount of money you deposit and on which interest is paid
Future Value
Amount your original deposit will be worth in the future base…
40 terms
Business Management Chapter 1
Refer to Volkswagen. In making his ann…
A business school administrator who is…
Hormel Foods had to recall 104,000 pou…
Connie O'Day is a middle-level manager…
spokesperson
organizing
controlling
monitor
Refer to Volkswagen. In making his ann…
spokesperson
A business school administrator who is…
organizing
41 terms
Business Management Chapter 1
Profit
Business
Finished Goods
Not for profit Organisation
When income earned (revenue) is greater than costs of product…
Organisation that provides g&s to consumers to make a profit
Goods ready for customers to buy & use
Operate to provide social, educational, religious, other bene…
Profit
When income earned (revenue) is greater than costs of product…
Business
Organisation that provides g&s to consumers to make a profit
36 terms
Business Management chapter 1
management
Efficiency
Effectiveness
Competitive advantage
the pursuit of organizatioal goals efficently and effectively…
Using resources wisely
what the resources achieve in the end
the ability to produce goods and services more effectively th…
management
the pursuit of organizatioal goals efficently and effectively…
Efficiency
Using resources wisely
34 terms
Chapter 1 Business Management
Organization
Management
Efficient
Effectiveness
A group of people who work together to achieve some specific…
the pursuit of organization goals efficiently and effectively…
To use resources (people, money, raw materials, and the like)…
to achieve results, to make the right decisions, and to succe…
Organization
A group of people who work together to achieve some specific…
Management
the pursuit of organization goals efficiently and effectively…
34 terms
Business Management Chapter 1
Profit
Business
Finished Goods
Market Share
what a business makes when income (revenue) is greater than t…
an organisation that provides goods and services to consumers…
are those that are ready for customers to buy and use
the proportion of total markets sales the business has compar…
Profit
what a business makes when income (revenue) is greater than t…
Business
an organisation that provides goods and services to consumers…
Chapter 1 Business Management`
Management
Planning
Organizing
Implementing
is the process of accomplishing the goals of a organization t…
involves analyzing information ... and make decisions about what…
is concerned with determining how plans can be accomplished m…
focuses on carrying out the plans and helping emploees to work.
Management
is the process of accomplishing the goals of a organization t…
Planning
involves analyzing information ... and make decisions about what…
17 terms
Business Management Chapter 1
Management
Planning
Organizing
Implementing
The process of accomplishing the goals of an organization thr…
Involves analyzing information and making decisions about wha…
Is concerned with determining how plans can be accomplished m…
Focuses on carrying out the plans and helping employees to wo…
Management
The process of accomplishing the goals of an organization thr…
Planning
Involves analyzing information and making decisions about wha…
41 terms
Business Management- Chapter 1
Organisation
Large-scale organisation
Assets
Multinational corporation
Two or more people working together to achieve an objective
Employs 200 or more people, earns revenue in the millions, or…
What an organisation owns
Owned and based in one country and operates in many countries…
Organisation
Two or more people working together to achieve an objective
Large-scale organisation
Employs 200 or more people, earns revenue in the millions, or…
17 terms
Chapter 1 business Management
Management
Planning
Organizing
Implementing
Is the process of accomplishing the goal of an organization t…
involves analyzing information and making decisions about wha…
is concerned with determining how plans can be accomplished m…
Focuses on carrying out the plans and helping employees to wo…
Management
Is the process of accomplishing the goal of an organization t…
Planning
involves analyzing information and making decisions about wha…
40 terms
Chapter 1 Business Management
Management
Planning
Three Main Components of Planning
Organization
the process of planning, organizing, leading, and controlling…
Management process of determining what an organization needs…
1. Determine goals 2. Develop a comprehensive strategy for ac…
Determining the best way to arrange a business's resources an…
Management
the process of planning, organizing, leading, and controlling…
Planning
Management process of determining what an organization needs…
15 terms
Business Management- Chapter 1
a new business undertaking that involv…
specially designated areas of a commun…
when i sell everything i want and the…
the study of how to satisfy unlimited…
venture
enterprise zones
equilibrium
economics
a new business undertaking that involv…
venture
specially designated areas of a commun…
enterprise zones
17 terms
Chapter 1 Business Management
Management
Planning
Organizing
Implementing
the process of accomplishing goals of an organization through…
Involves analyzing information and making decisions about wha…
determining how plans can be accomplished most effectively an…
carrying out the plans and helping employees to work effectiv…
Management
the process of accomplishing goals of an organization through…
Planning
Involves analyzing information and making decisions about wha…
40 terms
Business Management Chapter 1
Refer to Volkswagen. In making his ann…
A business school administrator who is…
Hormel Foods had to recall 104,000 pou…
Connie O'Day is a middle-level manager…
spokesperson
organizing
controlling
monitor
Refer to Volkswagen. In making his ann…
spokesperson
A business school administrator who is…
organizing
28 terms
Business Management Chapter 1
Organisation
Large Scale Organisation
Multinational Corporation
Revenue
Is two or more people working together to achieve an objective
Over 200 Employees ... Revenue in the millions ... Assets more than…
Owned and based in one country and operates in many countries…
How much money the business is gaining
Organisation
Is two or more people working together to achieve an objective
Large Scale Organisation
Over 200 Employees ... Revenue in the millions ... Assets more than…
42 terms
Chapter 1 Business Management
Business
Three Fundamental Characteristics of B…
Business Platforms
Assets
- Focused activities aimed at identifying the needs of a part…
Commercial Endeavors- markets the organization serves and the…
Underlying operational platform a business uses to position i…
Infrastructure and resource base of a company
Business
- Focused activities aimed at identifying the needs of a part…
Three Fundamental Characteristics of B…
Commercial Endeavors- markets the organization serves and the…
21 terms
Business Management Chapter 1
Ginger, the CEO of​ Match-Schtick Toys…
Managers act as ______ when they engag…
is a​ company's ability to achieve its…
SBT​ News, publisher of a regional​ ne…
Figurehead
figureheads
Sustainability
Technology
Ginger, the CEO of​ Match-Schtick Toys…
Figurehead
Managers act as ______ when they engag…
figureheads
30 terms
Business Principles and Management Chapter 1 - Characteristics of Business
business
production
manufacturing firms
service firms
An organization that produces or distributes a good or servic…
Making a product or providing a service
Produce goods
Provide assistance to satisfy specialized needs through skill…
business
An organization that produces or distributes a good or servic…
production
Making a product or providing a service
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