| A | B |
|---|
| business plan | written description of the nature of the business, its goals and objectives, and how they will be achieved |
| strategic planning | long term planning that provides broad goals and direction for the entire business |
| operational planning | short-term and identifies specific activities for each are of the business |
| SWOT analysis | the examination of the organisations internal Strengths and Weaknesses as well as the Opportunities and Threats from its external environment |
| internal factors | all of the SWOT things within a business that managers can influence and control to help accomplish business plans |
| mission statement | a short, specific statement of the business's purpose and direction |
| vision | the idea and broad future idea the company runs on |
| goal | a specific statement of a result the business expects to achieve, these should be specific, achievable, clearly communicated, and consistent with each other |
| financial budgets | assist managers in determining the best way to use available money to reach goals |
| schedule | a time plan for reaching objectives |
| standard | specific measure against which something is judged |
| policies | guidelines used in making decisions regarding specific, recurring situations |
| procedure | a list of steps to he followed for performing certain work |
| organisation chart | a drawing that shows the structure of an organisation, major job classifications, and the reporting relationships among the organisation's personnel |
| responsibility | the obligation to do an assigned task |
| authority | the right to make decisions about assigned work and to make assignments to others concerning that work |
| accountability | the obligation to accept responsibility for the outcomes of assigned tasks |
| unity of command | no employee reports to more than one supervisor at a time or for a particular task |
| span of control | the number of employees that any one manager supervises directly |
| line organisation | all authority and responsibility can be traced in a direct line from the top executive down to the lowest employee level in the organisation |
| line and staff organisation | managers have direct control over the units and employees they supervise but have access to staff specialists for assistance |
| matrix organisation | organises employees into temporary work teams to complete specific projects |
| team organisation | divides employees into permanent work teams |
| self-directed work teams | team members together are responsible for the work assigned to the team |
| centralised organisation | a few managers do all major planning and decision making |
| decentralised organisation | a very large business is divided into smaller operating units |
| flattened organisation | one with fewer levels of management than traditional structures |
