Quiz 7-1 Business Management

What are the 5 business principles?

• clear vision, organized business structure, accountability for all, defined employee roles, established chain of command

• clear vision, organized business structure, accountability for all, defined employee roles, employees are in charge

• clear vision, unorganized business structure, accountability for all, undefined employee roles, established chain of command

• organized business structure, accountability for all, defined employee roles, established chain of command

Something achieved in a specified period of time

• policy

• vision

• principles

• goal

Describes how tasks should be completed.

• policy

• procedure

• goal

• mission

Outlines how company decisions are made.

• plans

• procedure

• policy

• goals

identifies the hierarchy of the employees within the business.

• organizational structure

• team

• management

• organization

Authority structure of the company from highest to lowest levels

• organizational structure

• organizational chart

• management structure

• chain of command

Diagram that shows the structure of the organization.

• chain of command

• organizational chart

• bribe

• organizational structure

All authority within a business rests with top management.

• centralized organization

• organizational structure

• decentralized organization

• organization

Authority within a business is given to various managers who run their own department

• regular organization

• heirarchy of workers

• decentralized organization

• centralized organization

What are the levels of management?

• top, midde, bottom

• king, queen, prince

• upper, middle, lower

• top, middle, first line