Strand 1
Job design, scheduling, materials management, capacity management, facilities management, and quality management. Everday tasks
Operational Management
Setting parameters for decision-making & step-by-step instructions for specific routine tasks
Policy and Procedures
The right or licence granted by a company to an individual to market and or trade products and services in a specific area or territory.
Franchise
advantages of ______________ management is it is simple and clear structure, suitable for small business organizations, helps to maintain better supervision and control. Disadvantages of ______________ management inappropriate for big firms, increases the workload of managers, possibility of dictatorship, it lacks specialization.
Centralized Management
A Motivational Technique that includes friendship, intimacy, family, sense of connection.
Love and Belonging
A company wants to launch a new product, considering factors like the cost of making the product and the target market.
Strategic Management
A statement that defines the organization's business, its objectives, and how it will reach these objectives, and a statement that details where the organization aspires to go
Mission and Vision Statement
a business structure that offers limited liability protection and pass through taxation.
LLC (Limited liability company)
Advantages of ______________ management is motivation of subordinates, growth and diversification, efficient communication, ease of expansion. Disadvantages of ______________ management is is it is difficult to coordinate, external factors, narrow product lines, delayed decision making.
Decentralized
Motivational Technique that includes personal security, employment, resources, health, property.
Safety Needs
The DECIDE model is the acronym of 6 particular activities needed in the decision-making process:
D = define the problem
E = establish the criteria
C = consider all the alternatives
I = identify the best alternative
D = develop and implement a plan of action
E = evaluate and monitor the the effects
non-registered, unicorporated business run solely by one individual proprietor.
Sole Proprietorship
corporations that elect to pass corporate income, losses, deduction, and credits through to their shareholders for federal tax purposes.
S-Corporation
Effective Leadership Qualities
Empathy, Integrity, Accountability, Communication Skills, Creativity, Confidence, Adaptability
Motivational Technique that includes air, water, food shelter, sleep, clothing, etc.
Physiological needs
SWOT Analysis is a powerful strategic management and planning tool and an acronym for...
Strengths, Weaknesses, Opportunities and Threats
A legal agreement between two or more entities that determines shared ownership and operation of a business.
Operates for a charitable, education, or social purpose with out the primary goal of making a profit.
Nonprofit
A Motivational technique that includes the desire to become the most one can be.
Self-Actualization
Four steps to controlling operations
SMART is an acronym that stands for...
Specific, Measurable, Achievable, Realistic, and Timely.
A legal entity that is separate and distinct from its owners.
Corporation
Functional, multi-divisional, flat, and matrix structures.
Four Organizational Structures
A motivation technique that includes respect, self esteem, status, recognition, strength, freedom.
Esteem
Planning, organizing, and supervising functions.