Business Operations and Structures Vocab

What is a mission statement?

• Guidelines used in making consistent decisions

• A short, specific written statement of the reason a business exists and what it wants to achieve

• A diagram that shows the structure of an organization

• A precise statement of results the business expects to achieve

What does a goal represent in a business context?

• A chart that shows how a business is structured

• A precise statement of results the business expects to achieve

• A business plan that divides a company into different departments

• Descriptions of the way work is to be done

What are policies in a business?

• Guidelines used in making consistent decisions

• Descriptions of the way work is to be done

• A diagram that shows the structure of an organization

• A precise statement of results the business expects to achieve

What describes the way work is to be done?

• Organization chart

• Policies

• Management plan

• Procedures

What is an organization chart?

• A business plan that divides a company into different departments

• A precise statement of results the business expects to achieve

• Guidelines used in making consistent decisions

• A chart that shows how a business is structured and who is in charge of whom

What is a management plan?

• A diagram that shows the structure of an organization

• A precise statement of results the business expects to achieve

• Descriptions of the way work is to be done

• A business plan that divides a company into different departments run by different managers

What is line authority?

• A business plan that divides a company into different departments

• A chart that shows how a business is structured

• Guidelines used in making consistent decisions

• An organizational structure in which managers at the top of the line oversee those beneath them

What characterizes a centralized organization?

• An organization that gives authority to many different managers

• A business plan that divides a company into different departments

• Descriptions of the way work is to be done

• An organization that puts authority in one place, with top management

What is a decentralized organization?

• An organization that puts authority in one place, with top management

• An organization that gives authority to many different managers to run their own departments

• A diagram that shows the structure of an organization

• Guidelines used in making consistent decisions

What does departmentalization involve?

• Dividing responsibilities in an organization among specific units or departments

• A precise statement of results the business expects to achieve

• A business plan that divides a company into different departments

• Descriptions of the way work is to be done