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Chapter 1
Key Terms
20
Management
Undergraduate 2
09/14/2008

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Term
Interpersonal Skills
Definition
involves the ability to understand, communicate, and work well with individuals and groups through developing effective relationships
Term
First-Mover Advantage
Definition
refers to offering a unique customer value before competitors do so
Term
Technical Skills
Definition
involve the ability to use methods and techniques to perform a task.
Term
Knowledge Management
Definition
involves everyone in an organization in sharing knowledge and applying it continuously to improve products and processes.
Term
Managers Resources
Definition
are human, physical, financial, and informational
Term
Performance
Definition
is based on how effectively and efficiently managers utilize resources to achieve objectives.
Term
Leading
Definition
is the process of influencing employees to work toward achieving objectives.
Term
Decision Making Skills
Definition
are based on the ability to conceptualize situations and select alternatives to solve problems and take advantage of opportunities.
Term
Planning
Definition
is the process of setting objectives and determining in advance exactly how the objectives will be met
Term
Management Functions
Definition
Planning, Organizing, Leading, and Controlling
Term
Organizing
Definition
is the process of delagating and coordinating taks and allocating resources to achieve objectives.
Term
Types of Managers
Definition
are general managers, functional managers, and project managers.
Term
Intrapreneurs
Definition
commonly start a new line of business within a large organization.
Term
Small Business
Definition
is independently owned and operated, is not dominant in its field and has annual receipts not in excess of $500,000
Term
Managers
Definition
is responsible for achieving organizational objectives through efficient utilization of resources.
Term
Levels of Management
Definition
are top managers, middle managers and first line managers
Term
Competitive Advantage
Definition
specifies how an organization offers unique customer value.
Term
Management Roles Categories
Definition
Interpersonal, informational, decisional roles
Term
Management Skills
Definition
including 1. techinical 2. interpersonal 3.decision making skills
Term
Controlling
Definition
is the process of establishing and implementing mechanisms to ensure that objectives are achieved.
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