What is a Consultant?

A person who provides expert advice to a company.

Factors that influence the behavior of workers towards achieving business goals.

What is Job Satisfaction?

The enjoyment a worker gets from feeling they have done a good job.

What is Job Rotation?

Swapping workers around to do specific tasks for a limited time.

What is Job Enlargement?

Adding extra tasks to a job to make it more interesting.

What is Job Enrichment?

Adding tasks that require more skill and/or responsibility.

What is Job Security?

Knowing that there is little risk of losing one’s employment.

The belief that the average person does not like work and needs supervision.

The belief that the average person is motivated by internal factors.

What is Maslow’s Hierarchy of Needs?

A theory that states five categories of human needs dictate behavior.

What are Hygiene Factors?

Factors that must be present to prevent job dissatisfaction.

What is Organizational Structure?

The levels of management and division of responsibilities within an organization.

The levels of management in an organization, from highest to lowest.

What is Chain of Command?

The structure that allows instructions to be passed down from senior management.

What is Span of Control?

The number of subordinates directly under a manager.

Senior managers who lead a particular department or division.

What are Line Managers?

People who have direct responsibility for employees below them.

What are Supervisors?

Junior managers who have direct control over employees.

What are Staff Managers?

Specialists who provide support and information to line managers.

Giving subordinates the authority to perform a task.

What is Decentralization?

Taking a decision away from the center of an organization.

What is Glocalization?

A product or service developed globally but adjusted for local markets.

The complex system of values, traits, morals, and customs shared by a society.

The environment or ambience surrounding an event.

What is the Lewis Model?

A model that divides humans into three categories based on behavior.

What is High-context Culture?

A culture where communication rules are transmitted through contextual elements.

What is Low-context Culture?

A culture where most communications take place through verbal language.

What is Power Distance?

The distribution of power among individuals within a culture.

The process of identifying the need to employ someone.

What is Employee Selection?

Evaluating candidates for a specific job and selecting an individual.

What is a Job Analysis?

Identifying and recording the responsibilities and tasks of a job.

What is a Job Description?

Outlines the responsibilities and duties of a specific job.

What is a Job Specification?

A document outlining the requirements for a specified job.

What is Internal Recruitment?

Filling a vacancy with an existing employee.

What is External Recruitment?

Filling a vacancy with someone who is not an existing employee.

What is Induction Training?

An introduction given to a new employee about the business.

What is On-the-job Training?

Training that occurs by watching a more experienced worker.

What is Off-the-job Training?

Training away from the workplace, usually by specialists.

The process of converting inputs into saleable goods.

What are Inventories?

The stock of raw materials, work-in-progress, and finished goods.

What is Lean Production?

Producing goods with minimum waste of resources.

Key Terms for Business Finals Flashcards

Student preview

101 questions

Show all answers

1.

FLASHCARD QUESTION

Front

What is Management?

Back

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

2.

FLASHCARD QUESTION

Front

Who is a Manager?

Back

An individual in charge of a certain group of tasks or a certain area of business.

3.

FLASHCARD QUESTION

Front

What does a Chief Executive Officer do?

Back

The most senior manager responsible for the overall performance and success of a company.

4.

FLASHCARD QUESTION

Front

What is Planning in management?

Back

A function that includes anticipating trends and determining the best strategies to achieve goals.

5.

FLASHCARD QUESTION

Front

What is Organizing in management?

Back

Designing the structure of the organization and creating conditions for everyone to work together.

6.

FLASHCARD QUESTION

Front

What does Leading mean in management?

Back

Creating a vision for the organization and guiding others to achieve goals.

7.

FLASHCARD QUESTION

Front

What is Controlling in management?

Back

Establishing standards to determine if the organization is progressing toward its goals.

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