Business Terms
An organized body of people with a particular purpose, especially a business, society or association.
What is an organization?
A series of studies that showed that the best way of increasing productivity in a group of people is to make them feel as if they are in a group setting.
What are the Hawthorne Studies?
The lowest "need" on Maslow's Hierarchy of Needs, involving food and water.
What are physiological needs?
A person of authority in a business is usually called this.
What is a manager?
A subtle form of discrimination that prevents women and minorities from progressing past a certain point in a business.
What is the glass ceiling effect?
The worldwide interdependence of resource flows, product markets and business competition.
A philosophy that supports the idea of your needs ranging in importance, from physiological needs to self-realization.
What is Maslow's Hierarchy?
The 2nd "need" on Maslow's Hierarchy of Needs, involving concepts such as financial security.
What is Safety?
Responsible for work activities that make a direct contribution to the organization’s output.
What are line managers?
A management’s approach to long term success through customer satisfaction.
What is total quality management?
The collective brain power of shared knowledge of a workforce that is used to create value.
What is intellectual capital?
2 theories that involve worker behaviour, proposed and theorized by an American professor.
What are McGregor's Theory X and Theory Y?
The 3rd "need" on Maslow's Hierarchy of Needs, involving concepts such marriage and family.
What are love and belonging?
Use special technical expertise to advise and support the efforts of line managers.
What are staff managers?
The science of reducing a job or task to its most basic physical motions.
What is motion study?
Describes differences among workers in gender, race, age, ethnicity, religion, sexual orientation, able-bodiedness.
What is workplace diversity?
The theory that McGregor believed in when it came to worker behavior.
What is Theory Y?
The 4th "need" on Maslow's Hierarchy of Needs, involving concepts such as success and respect.
What is esteem?
Have responsibility for a single area of expertise such as finance, marketing, personnel, accounting or sales.
What are functional managers?
The highest position one can hold in a company.
What is CEO?
An individual whose mind is a critical asset to employers and adds to the intellectual capital of the organization.
A famous woman who believed that workers work better when working alongside their managers and higher ups.
Who is Mary Parker Follett?
The 5th "need" on Maslow's Hierarchy of Needs, involving concepts such reaching one's full potential.
What is Self-Actualization?
Responsible for more complex units that include many functional areas.
What are general managers?
The name given to a system that turns resource inputs into product outputs.
What is an open system?