Management

The act of working with and through a group of people to accomplish a desired goal or objective in an efficient and effective maner

The ability to drive change and innovation through inspiration and motivation

A clear differentiation of tasks and responsibilities among individuals; coordination through a strict hierarchy of authority and decision rights; standardized rules and procedure; etc

A focus on how jobs, work, and incentive schemes could be designed to improve productivity using industrial engineering methods

The belief that organizations must be understood as systems of interdependent human beings who share a common interest in survival and effective functioning of the firm

A view of the firm where effective organizational structure is based on fit or alignment between the organizations and various aspects in its environment

The combination of all contextual forces and elements in the external and internal environment of a firm

A business framework where the firm is seen as a mechanism for converting raw materials into products to sell to customers

A business framework where the job of top managers is to produce the highest possible stock market valuation of the firm's assets

A business framework that attempts to organize and analyze multiple groups that interact with the firm

The process by which senior leaders of a corporation meet with business unit managers to review progress toward specific goals

A tool that managers use to scan the business horizon for key events and trends that will affect the business in the future

Forecasting the likely result that might occur when several events and stakeholders are linked together

The systematic assessment of the external environment to prepare for a possible range of alternative futures for the organization

A tool where key variables are monitored and modeled to help predict a change that might occur in the environment

The ability to understand the impact of environmental factors on a firm and the ability to understand how to influence those same factors

The integration and interdependence of economic, technological, sociocultural, and political systems across diverse geographic regions

An economic theory that proclaims countries should specialize in producing goods for which they have the lowest opportunity cost of production

Represents all of the external forces that affect the firm's business

Includes the technological economic, political and legal, and sociocultural dimensions that affect a firm's external enironment

Includes entities that directly affect a firm on a constant basis and include competitors, suppliers, and customers

The processes, technologies, or systems that a firm can use to produce outputs

The general economic environment

Refers to the political events and activities in a market that affect a firm

The regulations and laws that a firm encounters in its markets

Demographic characteristics as well as the values and customs of a society

The deeply rooted system of principles that guide individuals in their everyday choices and interactions

Any organization that creates goods or services targeted at a similar group of customers

A company that provides resources or services for a firm to help in its creation of products and services

The people or organizations that buy a firm's products and services

A group of parties or factors that directly impact a firm, including owners, the board of directors, employees, and culture

The people or institutions that maintain legal control of an organization