Vocabulary Business Management chapter 4

Sequence of steps to be followed for performing a specific task

• budget

• procedure

• standard

• policies

Obligation to accept responsibility for the outcomes of assigned tasks

• mission

• empowerment

• goal

• accountability

Number of employees that any one manager supervises directly

• unity of command

• span of control

• strategic planning

• vision

Obligation to to do an assigned task

• goal

• budget

• responsibility

• procedure

Business structure in which all authority and responsibility can be traced in a direct line from the top executive down to the lowest employee level

• matrix organization

• line organization

• business plan

• decentralized organization

Organization which combines workers into temporary work teams to complete specific tasks

• decentralized organization

• line organization

• flattened organization

• matrix organization

Authority given to individual employees to make decisions and solve problems they encounter on their jobs with the resources available to them

• goal

• responsibility

• empowerment

• vision

Specific measure by which something is judged

• goal

• standard

• mission

• vision

Principle which states that no employee has more than one supervisor at a time

• operational planning

• span of control

• SWOT analysis

• unity of command

Short term planning that identifies specific activities for each area of the business

• operational planning

• business planning

• strategic planning

• goal planning