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BUAD Exaxm 2

Mission statement
Written declaration of purpose that affirms the highest priorities of the organization
Objectives
Statements of short-term, specific outcomes that are to be achieved by the firm
Vision
The answer to the question, “why does this organization exist?”
Goals
Long-term, measurable accomplishments to be achieved by the firm within a specified time frame
Free-rein leader
Leader who favors autonomy and allows group members to make decisions and take action as needed
Autocratic leader
Leader who maintains individual control over all decisions and accepts little input from subordinates
Democratic leader
Leader who involves subordinates in goal setting, problem solving and decision making
Leading
The process of guiding, influencing and motivating others to work toward common goals
Organizing
The group of people, resources and activities to accomplish the objectives of the organization
Planning
Process of establishing organizational goals and determining how to accomplish them
Controlling
Process of evaluating and regulating ongoing organizational activities to ensure that goals are achieved
Brainstorming
The process of generating creative ideas and solutions through unrestricted group discussion
Problem solving
The process of working through details of a predicament in order to reach a solution
Decision making
The process of selecting one alternative from the available alternatives
Management
Organization and coordination of activities of the firm in oder to achieve defined goals and objectives
Chain of command
Official hierarchy of authority that dictates who is in charge of whom within the organization
Hierarchy
The levels of management within a business organization, from the lowest to highest
Departmentalization
Process of organizing employees into groups or units to accomplish specific organizational goals
Span of control
Number of subordinates under the direct control of a manager of supervisor
Matrix organization
Organizational structure that combines employees from different parts of the organization; often used for special projects
Tall organization
Organization with multiple layers of management between top executives and front-line employees
Flat organization
Organization with few layers of management between the executive level and lowest level
Core competencies
Those functions that the organization can do as well as or better than any other organization
Benchmarking
Comparing a firm’s processes and performance to the world’s best and/or best practices from other industries
Economies of scale
The increase in efficiency of production as the number of goods being produced increases
Bureaucracy
Management structure with many layers of management, a high degree of formalization and job specialization
Formal organization
Structure of an organization that is typically depicted on organization charts
Real time
Actual time during which a process or event occurs
Line personnel
Those personnel in an organization who have direct job performance responsibilities
Assembly process
Manufacturing method in which value is added by putting together components to create a product
Continuous process
Manufacturing method to produce or process materials without interruption for long periods of time
Mass customization
Production of personalized or custom-tailored goods or services to meet customers’ individual needs
Critical path
In a PERT chart, the sequence of activities that takes the longest time from start to finish
Facility location
The process of determining the geographic placement of facilities to serve the firm’s clients or customers
Facility layout
The arrangement of machinery, equipment and people within a production facility
Quality
Consistent production of goods and services desired by customers that are free of defects and deficiencies
Process manufacturing
Manufacturing method in which value is added through physical or chemical transformation of the product
Flexible manufacturing
Manufacturing system that uses computer-controlled technology to produce different goods in varying volumes
Lean manufacturing
Manufacturing methodology based on maximizing value and minimizing waste in the manufacturing process
SPC
Method of monitoring quality through random sampling of products and plotting variances from standard
CAD
The use of computers to assist in the design and development of products
MRP
Computerized system that uses sales forecasting in determining appropriate inventory levels of materials
ERP
Computerized system that integrates business functions such as purchasing inventory control, sales, finance and HR into a single database
CIM
Combining applications such as CAD, CAM and other computer systems to streamline the manufacturing process
JIT
Inventory system in which materials or supplies are delivered when required and neither sooner nor later
Intrinsic reward
Valued outcome that comes from within the individual, such as a sense of accomplishment and self-esteem
Extrinsic reward
A valued outcome that is tangible, visible to others and external, such as a raise, promotion or praise
Theory X
Management view that employees are lazy, uninterested in work, and need to be prodded to perform their jobs
Theory Y
Management view that employees enjoy work and take responsibility for meeting their work requirements
Theory Z
Management view that employee involvement in the organization and decision-making leads to productivity
Job enrichment
Motivation technique to improve job satisfaction by incorporating task variety and responsibility
Job enlargement
Increasing the scope of the job by combining several tasks into a single, more challenging assignment
Job rotation
Motivation strategy in which employees are moved between two or more jobs in a planned manner
Hygiene factors
Factors in a job necessary to avoid worker dissatisfaction but do not improve job satisfaction
Motivators
Workplace factors that provide employees with job satisfaction and presumably motivation
MBO
Motivation technique in which managers and subordinates collaborate establishing performance goals and objectives
Scientific management
Management approach concerned primarily with the physical efficiency of the work process
Self-actualization
The process of growing and developing as a person to achieve individual potential
Equity theory
Motivation theory stating that employees seek a balance between their inputs/outputs compared to others in similar positions
Hierarchy of needs
Sequence of human motivation needs arranged by ascending order of importance, developed by Abraham Maslow
Expectancy theory
Motivation theory stating that motivation depends on how much we want something and how likely we believe we are to get it
Conceptual skills
The ability to think creatively about, analyze and understand complicated and abstract ideas
Contingency planning
Plan devised for an unexpected outcome; used for risk management when a risk would have catastrophic consequences
Enabling
Making someone or something able to do something.
Free rein leadership
Leaders set objectives; employees are relatively free to do whatever it takes to accomplish those objectives
Human relations
A discipline within resource management which addresses interpersonal behaviors
Knowledge management
Efficient handling of information and resources within a commercial organization
Management
Planning, organizing, staffing, leading or directing, and controlling an organization
Middle Management
division heads, branch managers, and plant managers
Operational planning
• Implementation of tactical plan
• Setting work standards and schedules
• Focuses on specific supervisors, department managers, and employees
• Very short-term
Organization chart
Diagram that outlines the internal structure of a company
Participative leadership
Managers and employees work together to make decisions
PMI
Indicator of the economic health of the manufacturing sector; based on new orders, inventory levels, production, supplier deliveries, and employment environment
Staffing
Recruitment, selection, development, training, and compensation of managerial personnel
Strategic planning
• Top managers
• Long term
• Organizational wide
Supervisory management
Supervisors, foreman, department heads, section leaders
Tactical planning
• Middle managers
• Short term
• Division level
Technical skills
Knowledge and capabilities to perform specialized tasks
Top management
President and VP
Centralized authority
Most of the major decision-making power and authority rests in the hands of a concentrated group of leaders
Cross-functional self manage teams
Group of people with different functional expertise working toward a common goal
Decentralized authority
Decision-making authority is distributed throughout a larger group
Informal organization
Informal working relationships that develop in an organization and contribute to work culture?no chart or organizers!
Line organization
Authority flows from top to bottom
Transparency
Openness, communication, and accountability
CAM
Computer-aided manufacturing
Form utility
Increasing attractiveness of a product to a group of customers; might involve making a product ready for consumption by converting it to a form that is more beneficial to consumers than the raw materials used to make it
Gantt chart
Series of horizontal lines shows the amount of work done or production completed in certain periods of time in relation to amount planned for those periods
Inseparability
Production and consumption occur at the same time
Intermittent process
Condition in which a device operates normally for a time, then becomes defective for a time, with the process repeating itself at regular or irregular intervals
PERT
A project management tool used to schedule, organize, and coordinate tasks within a project
Production management
The application of management principles to the production function in a factory
Six sigma quality
Disciplined, data-driven approach and methodology for eliminating defects (driving toward six standard deviations between the mean and the nearest specification limit) in any process – from manufacturing to transactional and from product to service
Goal setting theory
Effects of setting goals on subsequent performance
Hawthorne effect
Tendency for people to behave when they know they are being studied; paying attention and showing you care leads to a greater job performance
Motivation
Inner force that reflects goal-directed activity or behavior
Needs
Underlying forces that create tension in an individual
Reinforcement theory
You can change someone’s behavior by using reinforcement, punishment, and extinction
Self-directed teams
Group working their own way toward group defined goal
Self managed teams
Group working their own way toward management defined goal
Time motion studies
Combines time study of Frederick Winslow Taylor with motion study of Gilbreth’s

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