legitimate power: vested authority stemming from a formal management position in an organization. centralized organization: authority is concentrated at the top of the organization. differentiation strategy: a plan whereby a company attempts to set the organization's products or services apart form those of other companies. CliffsNotes study guides are written by real teachers and professors, so no matter what you're studying, CliffsNotes can ease your homework headaches and help you score high on exams. This list is not definitive but it does present a starting point and a resource that will get you on the road to creating your own glossary. Glossary of key terms is embedded within each chapter and could perhaps be broken out in a separate chapter section (end of … Fort Collins, CO: U.S. Department of Agriculture, Forest Service, Rocky Mountain Research Station. organizational climate: the byproduct of organizational culture; it is the barometer for determining the morale of the employees. Decision trees assign probabilities to each possible outcome and calculate payoffs for each decision path. classical scientific: a branch of the school of classical management theory, whose emphasis is on increasing productivity and efficiency. communication: the exchange of ideas, messages, or information, by speech, signals, or writing. leadership style. line authority: a manager’s right to direct the work of his or her employees and make decisions without consulting others. organizational chart: a pictorial display of the official lines of authority and communication within an organization. mass production: a system used to manufacture a large number of uniform products in an assembly line. queuing theory: a rationale that helps allocate services or workstations to minimize customer waiting and service cost. functional structure: an organizational design that groups positions into departments on the basis of the specialized activities of the business. 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. A Data or Business Glossary solves this complexity, by referencing … For additional terms and definitions, consult the . Glossary of business terms - A to Z. Glossary for Chapter 17: Introduction to Managerial Accounting. tariffs: taxes placed on imports and/or exports in response to a political event. liquidity ratios: measurements of an organization’s ability to generate cash. body language: see nonverbal communication. Title: Principles Of Management Glossary, Author: LISBETH JULIANA OLAYA BRAVO (Estudiante), Length: 4 pages, Published: 2017-06-01 Project Management Glossary of Terms www.pm4dev.com get a sense of what might happen in your project. Marketing principles or principles of marketing are agreed-upon marketing ideas companies use for an effective marketing strategy. Kickoff Meeting. ... identified fourteen principles of management that remain the bedrock of administrative practices. organizational change: a significant change that affects an entire company. expectancy theory: a motivational theory stating that the three factors that influence behavior are the value of the reward, the relationship of the reward to performance, and the effort required for performance. Each term has a brief definition. Learn More in the Library's Blog Related to Terms in Management unstructured problems: difficulties that involve ambiguities and information deficiencies and often occur as new or unexpected situations. operational plan: developed by a first level supervisor as the means to achieve operational objectives in support of tactical plans. organizing: the process of establishing the orderly use of resources by assigning and coordinating tasks. team structure: organizational design that places separate functions into a group according to one overall objective. structural change: variation that occurs when a company changes its procedures, policies, and rules, and as a result, its organizational structure. Professional team meetings are a core component of any project, but there are many meeting terminologies that a lot of us don’t know about. Classical management theory developed into two separate branches: the classical scientific school and the classical administrative school. They include: planning , organizing , leading , and controlling . management: the process of administering and coordinating resources effectively, efficiently, and in an effort to achieve the goals of the organization. formal structure: the hierarchical arrangement of tasks and people within an organization. reengineering: redesigning processes requiring input from every employee in the company to achieve dramatic improvements in cost, quality, service, and speed. cost-leadership strategy: system that focuses on keeping costs as low as possible through efficient operations and tight controls. There are four functions of management that span across all industries. communication: the exchange of ideas, messages, or information, by speech, signals, or writing. compensation: all work-related payments, including wages, commissions, insurance, and other benefits. Management Definitions by Great Management Scholars Management Dictionary, Glossary and Terms directory. demographics: measurements of various characteristics of the people and social groups who make up a society. STUDY. Principles of management are fundamental rules of management that could be taught in schools and applied in all organizational situations. the degree to which a leader structures the roles of followers by setting goals, giving directions, setting deadlines, and assigning tasks. Requirements (expectations) imposed on an organization by formal or informal governing bodies, stakeholders, culture or other force. ISO, SCC, SETAC), environmental agencies (e.g. quality: reflects the degree to which a goods or services meet the demands and requirements of the marketplace. job rotation: temporarily assigning employees to different job, or tasks to different people, on a rotating basis. exporting: selling of an organization's products to a foreign broker or agent. Capacity building: A term sometimes used in knowledge management to describe the process of enhancing an organization’s ability to implement knowledge management principles and practices. structured problems: familiar, straightforward, and clear difficulties with respect to the information needed to resolve them. financial audits: formal investigations to ensure that procedures, policies, laws, and ethical guidelines are followed in the handling and reporting of financial activities. risk: the environment that exists when a manager must make a decision without complete information. Glossary of Records and Archival Terminology published by the Society of organizing: the process of establishing the orderly use of resources by assigning and coordinating tasks. ; Aggregate planning is an operational activity which does an aggregate plan for the production process, in advance of 2 to 18 months, to give an idea to management as to what quantity … Even among those who believe they know ethics, there is not total agreement on the meaning of the terms that are used. Total Quality Management (TQM): a philosophy that states that uniform commitment to quality in all areas of the organization promotes a culture that meets consumers' perceptions of quality. classical management theory: a theory, developed during the Industrial Revolution, that proposes “one best way” to perform tasks. Prioritization. In terms of principles of management, you can think of leadership, entrepreneurship, and strategic management as answering questions about “who,” “what,” and “how.” Leadership helps you understand who helps lead the organization forward and what the critical characteristics of … development plans: a series of steps that can help employees acquire skills to reach long-term goals, such as job promotions. situational theory: see contingency theory. licensure agreement: contract that grants one firm the right to make or sell another company’s products. referent power: influence that results from leadership characteristics that command identification, respect, and admiration from subordinates (also known as charismatic power). By continuing to use this website you are giving consent to cookies being used. manager: a person responsible for the work performance of one or more other persons. The following contains a (sometimes commented) glossary of terms related to lean manufacturing or production management with a brief definition. Empathy. joint venture: a business relationship formed between a domestic and foreign firm. delegation: the downward transfer of authority from a manager to a subordinate. According to Theo Heimann, management has three different meanings, viz., Management as a Noun: refers to a Group of Managers. The aim of this paper is to illustrate the importance of having clear and unambiguous definitions for project management terms (“jargon”) and principles that are being introduced or used on an enterprisewide level and to also highlight the role that jargon and glossaries play both as a communication tool and as a cultural identifier. organizational culture: an organization's personality. Messages. Matrix Management . ... Financial Glossary; profitability ratios: measurements of an organization's ability to generate profits. Authority The ability to get other people to act based on your decisions. simulation: a broad term indicating any type of activity that attempts to imitate an existing system or situation in a simplified manner. Leadership Theories Management Styles Fundamental Difference Between Leading and Managing Leader or Manager? classical scientific: a branch of the school of classical management theory, whose emphasis is on increasing productivity and efficiency. Definitions of Management 3. contingency planning: development of alternative courses of action that can be implemented if and when the original plan proves inadequate because of changing circumstances. means-end chain: the effective design of organizational goals that encourages the accomplishment of low-level goals as a way of achieving high-level goals. After all, the workplace is merely a mirror of society as a whole and the role of language in both societies is the same: communication. organizational development (OD): a plan that focuses on changing an entire organization by changing processes and organizational culture. Government policy or rules and regulations, on the other han… need theory: a construct of motivation based upon physical or psychological conditions that act as stimuli for human behavior. Some of these commonly used project management terms are: 19. planned change: the deliberate structuring of operations and behaviors in anticipation of environmental forces. Principle definition is - a comprehensive and fundamental law, doctrine, or assumption. classical management theory: a theory, developed during the Industrial Revolution, that proposes "one best way" to perform tasks. flextime: an employment alternative that allows employees to decide, within a certain range, when to begin and end each work day. continuous process: a system that produces goods by continuously feeding raw materials through highly automated technology. motion study: research designed to isolate the best possible method of performing a given job. performance appraisal: a formal, structured system designed to measure an employee's job performance against designated standards. selective perception: the tendency to single out for attention those aspects of a situation or person that reinforce or appear consistent with one’s existing beliefs, values, or needs. Glossary of key terms is embedded within each chapter and could perhaps be broken out in a separate chapter section (end of … Abandonment: Abandonment is defined as the voluntary surrender of property which may either be owned or leased, without naming a successor as owner or tenant. philosophy of management: amanager's set of personal beliefs and values about people and work. wholly-owned subsidiary: a foreign firm owned outright, or with a controlling interest, by an out-of-country firm. Using this approach, we can arrive at the management process which describes the work of any manager. behavioral management theory: a method that focuses on people as individuals with needs (also known as the human relations movement). a condition of certainty: a situation that occurs when the decision maker has perfect knowledge of all the information needed to make a decision. mechanistic structure: a highly bureaucratic organizational method, with centralized authority, detailed rules and procedures, a clear-cut division of labor, narrow span of controls, and formal coordination. plan: a blueprint for goal achievement that specifies the necessary resource allocations, schedules, tasks, and other actions. multinational corporations (MNC) : organizations operating facilities in one or more countries. crisis problem: an unexpected problem that has the potential to lead to disaster if not resolved quickly and appropriately. job enlargement: a type of job re-design that increases the variety of tasks a position includes (also known as horizontal job loading). Records Management Glossary of Terms This glossary provides definitions for many of the archival and records management terms found on this website. tactical plan: steps detailing the actions needed to achieve the organization's larger strategic plan. FMEA (Failure Modes and Effect Analysis) is a risk management tool for analyzing potential failures in terms of occurrence, severity, and detection. referent power: influence that results from leadership characteristics that command identification, respect, and admiration from subordinates (also known as charismatic power). interpersonal communication: real-time, face-to-face, or voice-to-voice conversation that allows immediate feedback. The following glossary of strategic terms is in common usage today. Run time Example for the Management reward power: the authority to reward others. affirmative action: a plan that requires employers to make an extra effort to hire and promote people who belong to a protected group. Mandates. first-line management: the lowest level of management. Effectiveness. Glossary of business terms Adjective (adj) Headwords for adjectives followed by information in square brackets [only before a noun] and [not before a noun] show any restrictions on where they can be used. strategic plan: an outline of steps designed with the goals of the entire organization as a whole in mind, rather than with the goals of specific divisions or departments. delegation: the downward transfer of authority from a manager to a subordinate. acceptance theory of management: the principle that emphasizes the willingness of subordinates to accept those with authority to act. job analysis: a study that determines all tasks and qualifications needed for each position. Process 4. small-batch production: manufacturing of a variety of custom, made-to-order products. Requirements (expectations) imposed on an organization by formal or informal governing bodies, stakeholders, culture or other force. boundary spanning: the process of gathering information from the external environment to identify current or likely events and determine how those events will affect the organization. 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. financial audits: formal investigations to ensure that procedures, policies, laws, and ethical guidelines are followed in the handling and reporting of financial activities. Case-Based Learning: Approach to learning using “cases” (stories, scenarios, descriptions of real events, etc.) human relations movement: see behavioral management theory. Bad debts: A term related to finance and accounting, bad debts is the portion of receivables that can no longer be collected or the income from the sale that can never be realized. Messages. The management work can divided into a few basic functions of management, viz: incentive pay: links compensation and performance by paying employees for actual results, not for seniority or hours worked. Principles 5. Private Incubators. control: the systematic process of regulating organization activities to make them consistent with the expectations established in plans, targets, and standards of performance. Handy definitions of financial and economic jargon - from libor and quantitave easing to black swans and dead cat bounces. Business Terms Glossary – B. Process 4. This typically relates to accounts receivable or loans. They are the principles upon which we build product promotion strategies. process theories: rationalesthat attempt to explain how workers select behavioral actions to meet their needs and determine their choices. Fayol’s 14 Principles of Management : Division of work: Specialization increases output by making employees more efficient. brainstorming: an idea-generating process that encourages the development of alternatives while withholding criticism of those alternatives. mission statement: a document that describes what an organization stands for and why it exists. content theory: identifies physical or psychological conditions that act as stimuli for human behavior. structural change: variation that occurs when a company changes its procedures, policies, and rules, and as a result, its organizational structure. Published at DZone with permission of Fred Wilson, DZone MVB. cost-leadership strategy: a system that focuses on keeping costs as low as possible through efficient operations and tight controls. © 2020 Houghton Mifflin Harcourt. contingency theory: this principle examines the fit between the leader and the situation and provides guidelines for managers to achieve an effective fit (also known as situational theory). Campaign management Managing the communication elements of a specific promotional campaign in terms of communication mix elements i.e. brainstorming: an idea-generating process that encourages the development of alternatives while withholding criticism of those alternatives. need theory: a construct of motivation based upon physical or psychological conditions that act as stimuli for human behavior. behavioral management theory: a method that focuses on people as individuals with needs (also known as the human relations movement. technology: the knowledge, machinery, work procedures, and materials that transform inputs into outputs. Management has been defined by several theorists in their own way. organization: a group of individuals who work together to accomplish a common goal. Classical management theory developed into two separate branches: the classical scientific school and the classical administrative school. The management work can divided into a few basic functions of management, viz: network structure: an operating process that relies on other organizations to perform critical functions on a contractual basis. differentiation strategy: a plan whereby a company attempts to set the organization’s products or services apart from those of other companies. As enterprises grow, so does its complexity, including terminology. Management is a broad business discipline, and the Principles of Management course covers many management areas such as human resource management … financial statements: reports thatprovide management with information to monitor financial resources. contingency planning: development of alternative courses of action that can be implemented if and when the original plan proves inadequate because of changing circumstances. 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