Business Terms
What is a strategic plan?
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 first-line management?
A manager who coordinates and supervises the activities of operating employees.
What are self-managed teams?
Work teams that supervise themselves.
What is a plan?
A predetermined outline of actions by which a corporation completes its goals.
Who invited the iPhone?
Steve Jobs
What is corporate culture?
The inner rites, rituals, heroes, and values of a firm.
What is Middle Management?
These are examples of what kind of management: Division Manager Department head Plant Manager Operations Manager
What is Participative Leadership?
A leadership style that encourages employees to work together as teams to pool their expertise, skills, and knowledge to brainstorm common goals, ideas, and solutions to problems.
What is an operational plan?
This type of plan is designed to implement tactical plans, is established for a year or less, and deals with how to accomplish an organization's objectives.
What year did the first iPhone come out?
2007
What is a joint venture?
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.
Upper-level executives guide and control the overall fortunes of an organization.
Top Management: (CEO) Chief Executive Officer (COO) Chief Operating Officer (CFO) Chief Financial Officer
What is Autocratic Leadership?
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 an organizational chart?
This diagram shows how the firm is structured and who is in charge of who.
Who invented Microsoft?
Bill Gates
What is a business plan?
A carefully constructed guide for a person starting a business.
What is management?
The process of coordinating people and other resources to achieve the goals of an organization.
What is Entrepreneurial Leadership?
These leaders are inspiring and develop networks through a complex web of aligned relationships.
What is a mission statement?
Included in a business plan that describes the purpose of the business
When did the first-ever Mircosoft computer come out?
1980
What is a mission statement?
This is a statement outlining the basic purpose of an organization.
The four key management responsibilities
Planning, organizing, controlling, leading
What is Democratic Leadership?
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 are angel investors?
private investors who fund start-up businesses
Who is America's team?
Dallas Cowboys