2-Word Business Terms
The document that describes an organization's long term goals. It is set by the board of directors and top management and defines what business a company is in.
What is a strategic plan.
Work teams that supervise themselves.
What are liaise-fare teams.
A manager who coordinates and supervises the activities of operating employees.
What is first-line management.
The skill set that describes the ability to visualize and solve both complex and uncomplicated problems and make decisions that are sensible.
What are Analytical Skills.
This is when a business integrates with a business in a different industry.
What is conglomerate integration.
The inner rites, rituals, heroes and values of a firm.
What is corporate culture?
A leadership style that 'knows what is best' for the workforce.
What is Paternal Leadership.
These are examples of what kind of management: Division Manager, Department head, Plant Manager Operations Manager
What is Middle Management?
These are the two types of vertical integration.
What are forwards and backwards.
This means 'the whole is greater than the sum of parts.'
What is synergy.
An agreement between 2 or more groups to form a business entity to achieve a specific goal or to operate for a specific period of time; sometimes it means forming a new company.
What is a joint venture.
This style of leader makes choices based on their own ideas and judgments, rarely accepts advice from followers and involves absolute control over a group or task and decision making.
What is Autocratic Leadership?
Upper-level executives who guide and control the overall fortunes of an organization.
(CEO) Chief Executive Officer (COO) Chief Operating Officer (CFO) Chief Financial Officer
The merging of companies in the same industry and the same state of production.
What is horizontal integration.
This is an agreement between firms in which each agrees to commit resources to achieve an agreed set of objectives.
What is a strategic alliance.
A carefully constructed guide for a person starting a business.
What is a business plan.
This theory looks at the perspective of employees motivation and commitment.
What is McGregory's X and Y.
The process of coordinating people and other resources to achieve the goals of an organization.
What is management?
The ability to speak, listen and write effectively.
What are communication skills?
This is the key aim for multinationals operating internationally.
What is a create value (or added-value).
This is a statement outlining the basic purpose of an organization.
What is a mission statement.
A style where managers work with employees to make decisions. Everyone meets, discusses a situation and listens to each other opinions, then base the decisions on the majority.
What is Democratic Leadership.
What is the title of the middle management structure at WWCC (Anne's boss?)
What are Deans?
These skills include the ability to deal effectively with other people - being able to relate to others, understand their needs, and show compassion.
What are Interpersonal Skills?
This is what it is called when a country uses voluntary export restraints.
What is protectionism.