| A | B |
|---|
| Mission statement | a short, specific written statement of the reason a business exists and what it wants to achieve. |
| Goal | – a precise statement of results the business expects to achieve. |
| Policies | guidelines used in making consistent decisions. |
| Procedures | descriptions of the way work is to be done. |
| Organization chart | a diagram that shows the structure of an organization. |
| Management plan | a business plan that divides a company into different departments run by different managers. |
| Organizational chart | a chart that shows how a business is structured and who is |
| Line authority | an organizational structure in which managers at the top of the line are in charge of those beneath them. |
| Centralized organization | an organization that puts authority in one place, with top Management. |
| Decentralized organization | an organization that gives authority to a number of different managers to run their own departments. |
| Departmentalization | dividing responsibilities in an organization among specific units or departments. |
| Top-level managers | managers responsible for setting goals and planning the future for a company. |
| Middle managers | managers who carry out the decisions of top management and oversee specific departments |
| Operational managers | managers who are responsible for the daily operations of a business, such as supervision and office managers |
| Responsibility- | the obligation to complete specific work |
| Authority | -right to make decisions about how responsibilities should be accomplished |
| Accountability | taking responsibility for the results achieved |
| Unity of Command- | clear reporting relationship for all staff of a business |
| What is line authority, and how does it look on an organizational chart? | Line authority can be traced in a line from the top of an organization to the bottom. |
| What are three ways in which departments are organized? | Departments can be organized by function, by product, or by location. |
| What are the primary responsibilities of top-level management? | Top-level managers set goals and plan for the future. |
| What is the difference between middle managers and operational managers? | Middle managers carry out the decisions of top management. Operational managers are responsible for the daily operations of the business. |
| What are four managerial functions? | Four managerial functions are planning, organizing, leading, and controlling. |
| What does good planning require? | Good planning requires setting realistic goals. |
| What is the function of leading and how does it affect a manager’s job? | Leading involves creating a vision of your company to inspire employees, setting goals for your manager, communicating, providing guidance and resolving conflicts, teaching, encouraging, and helping each employee reach his or her potential. |
