job analysis: a study that determines all tasks and qualifications needed for each position. Brief Glossary of Financial Management Terms Note: The following glossary is designed to help non-finance experts understand some of the terminology used in public agency financial management. Visit our, Simon Sinek - 5 Rules to Be Successful | Get Inspired. Principles of Management is designed to meet the scope and sequence requirements of the introductory course on management. Records Management Glossary of Terms This glossary provides definitions for many of the archival and records management terms found on this website. competitive advantage: any aspect of an organization that distinguishes it from its competitors in a positive way. decision tree: a diagram that analyzes hiring, marketing, investment, equipment purchases, pricing, and similar decisions. Management. In a matrix management system, an individual has a primary report-to boss and also works for … Mandates. Prisoner's Dilemma. income statement: a report that presents the difference between an organization’s income and expenses to determine whether the firm operated at a profit or loss over a specified time. job rotation: temporarily assigning employees to different job, or tasks to different people, on a rotating basis. rule: an explicit statement that tells a supervisor what he or she can and cannot do. Glossary of Records and Archival Terminology published by the Society of Leading Versus Managing. Management has been defined by several theorists in their own way. multinational corporations (MNC) : organizations operating facilities in one or more countries. contingency planning: development of alternative courses of action that can be implemented if and when the original plan proves inadequate because of changing circumstances. incentive pay: links compensation and performance by paying employees for actual results, not for seniority or hours worked. principles of management glossary acceptance theory of management: the principle that emphasizes the willingness of subordinates to accept those with authority to act. flextime: an employment alternative that allows employees to decide, within a certain range, when to begin and end each work day. Henri Fayol has stressed on the specialization of jobs. cross-functional teams: groups of experts in various specialties (or functions) who work together on solutions to organizational problems. manager: a person responsible for the work performance of one or more other persons. structural change: variation that occurs when a company changes its procedures, policies, and rules, and as a result, its organizational structure. resources: the people, information, facilities, infrastructure, machinery, equipment, supplies, and finances at an organization's disposal. continuous process: a system that produces goods by continuously feeding raw materials through highly automated technology. first-line management: the lowest level of management. Note that definitions are specific to the Smithsonian Institution. operational goals: specific, measurable results expected from first-level managers, work groups, and individuals. philosophy of management: amanager's set of personal beliefs and values about people and work. ... identified fourteen principles of management that remain the bedrock of administrative practices. advertising, sales promotion, direct marketing, public relations and co-ordinating this with the sales function Cash cow … Authority is generally based on the perception that a person has been officially empowered to issue binding orders. Yet engineers, management, accountants, and customers need to speak the same language to understand one another. Proactive Downsizing. How to use principle in a sentence. Bad debts: A term related to finance and accounting, bad debts is the portion of receivables that can no longer be collected or the income from the sale that can never be realized. Gen. Tech. We refer to them as four ‘controllable‘ categories. expert power: a leader's special knowledge or skills regarding the tasks performed by followers. As enterprises grow, so does its complexity, including terminology. grapevine: the informal communications network within an organization (also known as social network and informal channels). The list below relies on definitions used by internationally recognized organizations (e.g. SYNOPSIS Definition Management function (or) Process of Management Managerial Skills Order of Management Efficiency & Effectiveness General Principles of Management Management as an Essential for any Organization? content theory: identifies physical or psychological conditions that act as stimuli for human behavior. procedure: a set of step-by-step directions that explain how activities or tasks are to be carried out. empowerment: giving individuals an organization autonomy. content theory: identifies physical or psychological conditions that act as stimuli for human behavior. Even among those who believe they know ethics, there is not total agreement on the meaning of the terms that are used. Concept of Management: One way to analyse management is to think in terms of what a manager does. 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