Entrepreneurs who apply their creativity, vision, and risk-taking within a large corporation, rather than starting a company of their own.

A formal written statement that describes in detail the idea for a new business and how it will be carried out; includes a general description of the company, the qualifications of the owner(s), a description of the product or service, an analysis of the market, and a financial plan.

A form of business financing consisting of borrowed funds that must be repaid with interest over a stated time period.

A form of business financing consisting of funds raised through the sale of stock (i.e., ownership) in a business.

Individual investors or groups of experienced investors who provide financing for start-up businesses by investing their own money, often referred to as “seed capital.”

Investment firms that specialize in financing small, high-growth companies and receive an ownership interest and a voice in management in return for their money.

Using the least amount of resources to accomplish the organization’s goals.

The ability to produce the desired result or good.

The process of beginning to implement a strategic plan by addressing issues of coordination and allocating resources to different parts of the organization; has a shorter time frame (less than one year) and more specific objectives than strategic planning.

An organization’s purpose and reason for existing; its long-term goals.

The process of creating long-range (one to five years), broad goals for the organization and determining what resources will be needed to accomplish those goals.

The process of deciding what needs to be done to achieve organizational objectives; identifying when and how it will be done; and determining who should do it.

Plans that identify alternative courses of action for very unusual or crisis situations; typically stipulate the chain of command, standard operating procedures, and communication channels the organization will use during an emergency.

The process of coordinating and allocating a firm’s resources in order to carry out its plans.

The highest level of managers; includes CEOs, presidents, and vice presidents, who develop strategic plans.

Managers who design and carry out tactical plans in specific areas of the company.

Managers who design and carry out operation plans for the ongoing daily activities of the firm.

The process of guiding and motivating others toward the achievement of organizational goals.

Power that is derived from an individual’s position in an organization.

Power that is derived from an individual’s control over rewards.

Power that is derived from an individual’s ability to threaten negative outcomes.

Power that is derived from an individual’s extensive knowledge in one or more areas.

Directive leaders who prefer to make decisions and solve problems on their own with little input from subordinates

Leaders who share decision-making with group members and encourage discussion of issues and alternatives; includes democratic, consensual, and consultative styles.

A leadership style in which the leader turns over all authority and control to subordinates.

Selecting a leadership style based on the maturity and competency level of those who will complete the task.

The process of giving employees increased autonomy and discretion to make decisions, as well as control over the resources needed to implement those decisions.

The set of attitudes, values, and standards that distinguishes one organization from another.

The process of assessing the organization’s progress toward accomplishing its goals; includes monitoring the implementation of a plan and correcting deviations from the plan.

A manager’s specialized areas of knowledge and expertise, as well as the ability to apply that knowledge.

A manager’s interpersonal skills that are used to accomplish goals through the use of human resources.

A manager’s ability to view the organization as a whole, understand how the various parts are interdependent, and assess how the organization relates to its external environment.

A manager’s ability to operate in diverse cultural environments.

A manager’s activities as an information gatherer, an information disseminator, or a spokesperson for the company.