ENTREPRENEURIAL ODDS & ENDS
Entrepreneurs who keep their businesses small to do the work they want and maintain a balanced lifestyle.
Who are micropreneurs?
Designing the organization's structure and creating systems so people can work together toward goals.
What is organizing?
Redesigning an organization so it can serve customers more effectively and efficiently.
What is restructuring?
Creating finished goods and services using land, labor, capital, entrepreneurship, and knowledge.
What is production?
A production process that physically or chemically changes materials.
What is process manufacturing?
Using computers to design products.
What is computer-aided design (CAD)?
Creative employees who behave like entrepreneurs within existing corporations.
Who are intrapreneurs?
Establishing standards, measuring progress, rewarding good performance, and taking corrective action when needed.
What is controlling?
An organization chart with contact people at the top and the CEO at the bottom.
What is an inverted organization?
The activities managers perform to help firms create goods.
What is production management?
A production process that puts components together.
What is the assembly process?
Using computers in the manufacturing of products.
What is computer-aided manufacturing (CAM)?
People with unsatisfied wants and needs who have both the resources and willingness to buy.
What is a market?
Skills involving the ability to perform tasks in a specific discipline or department.
What are technical skills?
An organization with direct two-way lines of authority and responsibility running from top to bottom, with each person reporting to one supervisor.
What is a line organization?
The specialized management area that transforms resources into goods and services.
What is operations management?
Designing machines to perform multiple tasks so they can produce a variety of products.
What is flexible manufacturing?
Combining computer-aided design and computer-aided manufacturing.
What is computer-integrated manufacturing (CIM)?
Reducing average production costs as production levels increase, often through bulk purchasing.
What are economies of scale?
Communication and motivation skills that allow managers to work effectively with people.
What are human relations skills?
The official structure that appears on an organizational chart.
What is the formal organization?
The value producers add to materials in creating finished goods and services.
What is form utility?
Producing goods using less of everything compared with mass production.
What is lean manufacturing?
A computer-based system that uses sales forecasts to ensure needed parts and materials are available at the right time and place.
What is materials requirement planning (MRP)?
A temporary networked organization made up of replaceable firms that join or leave as needed.
What is a virtual corporation?
Giving employees the education and tools they need to make decisions.
What is enabling?
The unofficial human relationships and lines of authority that do not appear on an organizational chart.
What is the informal organization?
A production process in which long production runs produce finished goods over time.
What is a continuous process?
Tailoring products to meet the needs of a large number of individual customers.
What is mass customization?
An integrated software system combining functions such as finance, HR, and order fulfillment using a single database.
What is enterprise resource planning (ERP)?