small-batch production: manufacturing of a variety of custom, made-to-order products. The table of contents, chapter index, are helpful. open system: a method in which an individual or organization must interact with various and constantly changing components in both the external and internal environments. operational plan: developed by a first level supervisor as the means to achieve operational objectives in support of tactical plans. competitive advantage: any aspect of an organization that distinguishes it from its competitors in a positive way. compensation: all work-related payments, including wages, commissions, insurance, and other benefits. Principles of Management is adapted from a work produced by a publisher who has requested that they and the original author not receive attribution. Its practical expression is the fusion of information management and organizational learning. Messages. The property may, in such a case, be reverted to a person holding prior interest. Glossary of key terms is embedded within each chapter and could perhaps be broken out in a separate chapter section (end of … By continuing to use this website you are giving consent to cookies being used. simulation: a broad term indicating any type of activity that attempts to imitate an existing system or situation in a simplified manner. The principle of the 4P Marketing Strategy or Matrix is that marketing decisions tend to fall into four categories – product, place, price, and promotion. © 2017 - 2020 Business Haunt - Empower Your Knowledge. organizational change: a significant change that affects an entire company. Run time Example for the Management organizational climate: the by-product of organizational culture; it is the barometer for determining the morale of the employees. This glossary of terms used in quality, Six Sigma, ISO, and Lean was developed from many sources specifically for the use of Continuous Improvement Conference attendees. affirmative action: a plan that requires employers to make an extra effort to hire and promote people who belong to a protected group. organizational culture: an organization’s personality. contingency planning: development of alternative courses of action that can be implemented if and when the original plan proves inadequate because of changing circumstances. delegation: the downward transfer of authority from a manager to a subordinate. vertical job loading: see job enrichment. work specialization: the degree to which organizational tasks are divided into separate jobs (also known as the division of labor). Its practical expression is the fusion of information management and organizational learning. classical management theory: a theory, developed during the Industrial Revolution, that proposes "one best way" to perform tasks. line authority: a manager's right to direct the work of his or her employees and make decisions without consulting others. For additional terms and definitions, consult the . management information systems: (MIS)collects, organizes, and distributes data in such a way that the information meets managers' needs. Government policy or rules and regulations, on the other han… Each term has a brief definition. classical management theory: a theory, developed during the Industrial Revolution, that proposes “one best way” to perform tasks. resources: the people, information, facilities, infrastructure, machinery, equipment, supplies, and finances at an organization's disposal. feedforward controls: method used to identify and prevent defects and deviations from standards. The Principles of Management are the essential, underlying factors that form the foundations of successful management. Matrix management is commonly used in organizations if they have a need to share resources across functions (i.e, different departments). Yet engineers, management, accountants, and customers need to speak the same language to understand one another. force-field analysis: a technique to implement change by determining which forces drive change and which forces resist it. We refer to them as four ‘controllable‘ categories. A. Agile software development is a set of fundamental principles about how software should be developed based on an agile way of working in contrast to previous heavy-handed software development methodologies. Management Definitions by Great Management Scholars Management Dictionary, Glossary and Terms directory. The Glossary provides a consensus on terms and definitions or information on the range of terms and definitions encountered in disaster and emergency management to account for jurisdictional and contextual variation. The original definition has been modified to prevent circularity between process and output, and Notes 1 to 5 to entry have been added. satisfice: the making of the best decision possible with the information, resources, and time available. cost-leadership strategy: a system that focuses on keeping costs as low as possible through efficient operations and tight controls. control: the systematic process of regulating organization activities to make them consistent with the expectations established in plans, targets, and standards of performance. principles of management glossary acceptance theory of management: the principle that emphasizes the willingness of subordinates to accept those with authority to act. employee benefits: legally required or voluntary compensation provided to employees in addition to their salaries. Division of Labor. Administrative management is the use of institutions and order rather than relying on personal qualities to get things done. continuous process: a system that produces goods by continuously feeding raw materials through highly automated technology. Case-Based Learning: Approach to learning using “cases” (stories, scenarios, descriptions of real events, etc.) income statement: a report that presents the difference between an organization's income and expenses to determine whether the firm operated at a profit or loss over a specified time. job rotation: temporarily assigning employees to different job, or tasks to different people, on a rotating basis. empowerment: giving individuals an organization autonomy. line authority: a manager’s right to direct the work of his or her employees and make decisions without consulting others. organization: a group of individuals who work together to accomplish a common goal. process theories: rationales that attempt to explain how workers select behavioral actions to meet their needs and determine their choices. mission statement: a document that describes what an organization stands for and why it exists. Milestone As enterprises grow, so does its complexity, including terminology. wholly-owned subsidiary: a foreign firm owned outright, or with a controlling interest, by an out-of-country firm. queuing theory: a rationale that helps allocate services or workstations to minimize customer waiting and service cost. job sharing: process in which one full-time job is split between two or more persons (also known as twinning). Principles of Management is designed to meet the scope and sequence requirements of the introductory course on management. planning: the act of determining the organization's goals and defining the means for achieving them. Problem Based Learning. organizational design: the creation or change of an organization’s structure, the configuration and interrelationships of positions and departments. self-fulfilling prophecy: a belief that a manager can, through his or her behavior, create a situation where subordinates act in ways that confirm his or her original expectations. These project management terms are the popular project management buzz words. learning organizations: firms that utilize people, values, and systems to continuously change and improve performance based on the lessons of experience. development plans: a series of steps that can help employees acquire skills to reach long-term goals, such as job promotions. Making sure that the right things being done are being done in the right way. Elements i.e each of the hierarchy step-by-step directions that explain how workers select behavioral to! Management terms found on this website and in an assembly line the and. 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