| A | B |
|---|
| Management | includes the process or functions of planning, organizing, leading, controlling |
| Planning | Is the act or process of creating goals and objectives as well as the strategies to meet them. |
| Organizing | Is getting the resources arranged in an orderly and functional way to accomplish goals and objectives. |
| Organizational Chart | Shows how the firm is structured and who is in charge of whom. CEO & CFO |
| Top-level manager | Is responsible for setting goals and planning for the future as well as leading and controlling the work of others. Usually responsible for departments. |
| Middle manager | Carries out the decisions of top management. |
| Operational manager | Is responsible for the daily operations of a business. Supervisors, office managers, and crew leaders. |
| Leading | Means providing direction and vision. You have to inspire your employees. |
| Controlling | The operation means keeping the company on track and making sure goals are met. Keeping track of the budget, product, and employees. |
| Line Authority | Is an organizational structure in which managers on one level are in charge of those beneath them. |
| Line and staff authority | Organizational chart shows the direct line of authority as well as staff who advise the line personnel. |
| Centralized organization | Puts authority in one place—with top management |
| Decentralized organization | Give authority to a number of different managers. |
| Departmentalization | Divided responsibility among specific units, or departments. Could be geographical, function, customer groups, or product. |
| Formal structure | This type of structure is usually departmentalized. |
| Informal structure | Usually a smaller business. Partners usually work on projects along or together. |
