Business Management Midterm Flashcards

Front

Finding, hiring, training, and keeping the right people for the right jobs is which management function?

Back

Staffing

Front

A long-term style in which managers plan for the future and give employees more freedom.

Back

Strategic Management

Front

A hands-on style in which managers make quick, short-term decisions and closely supervise employees.

Back

Tactical Management

Front

Checking progress to ensure goals are being met and making changes if needed is which function of management?

Back

Controlling

Front

Looking at information, deciding on goals, and figuring out what needs to happen next is which function of management?

Back

Planning

Front

Which term means “getting things done in an organization by using people and resources wisely to reach goals”?

Back

Management

Front

A person who organizes, operates, and takes on the risks of starting a business.

Back

Entrepreneur

Front

An independently owned business with fewer than 500 employees that is not dominant in its industry.

Back

Small Business

Front

A written document that outlines a company's goals, strategies, target market, and financial projections.

Back

Business Plan

Front

The initial expenses needed to launch a business (equipment, permits, inventory, etc.).

Back

Start-up Costs