management information systems: (MIS)collects, organizes, and distributes data in such a way that the information meets managers' needs. structured problems: familiar, straightforward, and clear difficulties with respect to the information needed to resolve them. Its practical expression is the fusion of information management and organizational learning. Requirements (expectations) imposed on an organization by formal or informal governing bodies, stakeholders, culture or other force. selective perception: the tendency to single out for attention those aspects of a situation or person that reinforce or appear consistent with one’s existing beliefs, values, or needs. procedure: a set of step-by-step directions that explain how activities or tasks are to be carried out. privacy laws: legal rights of employees regarding who has access to information about their work history and job performance. classical scientific: a branch of the school of classical management theory, whose emphasis is on increasing productivity and efficiency. Definition, Meaning and characteristics of Principles of Management. legitimate power: vested authority stemming from a formal management position in an organization. ... identified fourteen principles of management that remain the bedrock of administrative practices. quantitative approach: using quantitative techniques, such as statistics, information models, and computer simulations, to improve decision making. grapevine: the informal communications network within an organization (also known as social network and informal channels). Here we have given top 50 project management terms that you should know-1. Problem Analysis Tree. job analysis: a study that determines all tasks and qualifications needed for each position. job analysis: a study that determines all tasks and qualifications needed for each position. Published at DZone with permission of Fred Wilson, DZone MVB. advertising, sales promotion, direct marketing, public relations and co-ordinating this with the sales function Cash cow … Rep. RMRS-GTR-349. cost-leadership strategy: system that focuses on keeping costs as low as possible through efficient operations and tight controls. Glossary of business terms Adjective (adj) Headwords for adjectives followed by information in square brackets [only before a noun] and [not before a noun] show any restrictions on where they can be used. This definition of management was given by Peter Drucker in his book "The Principles of Management". organizational design: the creation or change of an organization’s structure, the configuration and interrelationships of positions and departments. For additional terms and definitions, consult the . All rights reserved. Note that definitions are specific to the Smithsonian Institution. According to Henri Fayol in his book General and Industrial Management (1916), there are 14 'Principles of Management'. There are four functions of management that span across all industries. management information systems: (MIS)collects, organizes, and distributes data in such a way that the information meets managers’ needs. job sharing: process in which one full-time job is split between two or more persons (also known as twinning). need theory: a construct of motivation based upon physical or psychological conditions that act as stimuli for human behavior. Administrative management is the use of institutions and order rather than relying on personal qualities to get things done. Prioritization. © 2017 - 2020 Business Haunt - Empower Your Knowledge. organizational change: a significant change that affects an entire company. This typically relates to accounts receivable or loans. functional authority: authority to make decisions about specific activities undertaken by personnel in other departments. Empathy. Visit our, Simon Sinek - 5 Rules to Be Successful | Get Inspired. line authority: a manager's right to direct the work of his or her employees and make decisions without consulting others. Glossary of Knowledge Management 3 Knowledge management The explicit and systematic management of processes enabling vital individual and collective knowledge re-sources to be identified, created, stored, shared, and used for benefit. flextime: an employment alternative that allows employees to decide, within a certain range, when to begin and end each work day. classical management theory: a theory, developed during the Industrial Revolution, that proposes "one best way" to perform tasks. decision tree: a diagram that analyzes hiring, marketing, investment, equipment purchases, pricing, and similar decisions. Messages. authority: the formal and legitimate right of a manager to make decisions, issue orders, and allocate resources to achieve organizational goals. Principles of Management by Henri Fayol Henri Fayol is claimed to be the real father of modern management. Principles 5. bureaucracy: a form of organization based on logic, order, and legitimate use of formal authority. The following glossary of strategic terms is in common usage today. management: the process of administering and coordinating resources effectively, efficiently, and in an effort to achieve the goals of the organization. A principle is a fundamental truth and is generally stated in the form of cause and effect inter-relationship. mechanistic structure: a highly bureaucratic organizational method, with centralized authority, detailed rules and procedures, a clear-cut division of labor, narrow span of controls, and formal coordination. expert power: a leader’s special knowledge or skills regarding the tasks performed by followers. consideration. plan: a blueprint for goal achievement that specifies the necessary resource allocations, schedules, tasks, and other actions. centralized organization: authority is concentrated at the top of the organization. Concept of Management: One way to analyse management is to think in terms of what a manager does. kaizen: a Japanese term used in the business setting to mean incremental, continuous improvement. organizational culture: an organization’s personality. See Power. Each project may have its own Database System and Data Dictionary. need theory: a construct of motivation based upon physical or psychological conditions that act as stimuli for human behavior. leading: establishing and influencing others to follow a specific direction. informal organization: the pattern, behavior, and interaction that stems from personal rather than official relationships. incentive pay: links compensation and performance by paying employees for actual results, not for seniority or hours worked. Using this approach, we can arrive at the management process which describes the work of any manager. organizational chart: a pictorial display of the official lines of authority and communication within an organization. structural change: variation that occurs when a company changes its procedures, policies, and rules, and as a result, its organizational structure. management: the process of administering and coordinating resources effectively, efficiently, and in an effort to achieve the goals of the organization. operational plan: developed by a first level supervisor as the means to achieve operational objectives in support of tactical plans. referent power: influence that results from leadership characteristics that command identification, respect, and admiration from subordinates (also known as charismatic power). interpersonal communication: real-time, face-to-face, or voice-to-voice conversation that allows immediate feedback. concurrent control: method of regulation applied to processes as they are happening. delegation: the downward transfer of authority from a manager to a subordinate. decentralized organizations: firms that consciously attempt to spread authority to the lowest possible levels. Glossary of key terms is embedded within each chapter and could perhaps be broken out in a separate chapter section (end of … risk: the environment that exists when a manager must make a decision without complete information. horizontal job loading: see job enlargement. means-end chain: the effective design of organizational goals that encourages the accomplishment of low-level goals as a way of achieving high-level goals. Definitions of Management 3. 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. Requirements (expectations) imposed on an organization by formal or informal governing bodies, stakeholders, culture or other force. classical management theory: a theory, developed during the Industrial Revolution, that proposes “one best way” to perform tasks. tariffs: taxes placed on imports and/or exports in response to a political event. vertical job loading: see job enrichment. vision: the ability of the leader to bind people together with an idea. Title: Principles Of Management Glossary, Author: LISBETH JULIANA OLAYA BRAVO (Estudiante), Length: 4 pages, Published: 2017-06-01 Private Emails on 12manage. Management Definitions by Great Management Scholars Management Dictionary, Glossary and Terms directory. liquidity ratios: measurements of an organization's ability to generate cash. Division of Labor. job description: a written statement of a job’s requirements, processes, and rationale. work specialization: the degree to which organizational tasks are divided into separate jobs (also known as the division of labor). queuing theory: a rationale that helps allocate services or workstations to minimize customer waiting and service cost. authority: the formal and legitimate right of a manager to make decisions, issue orders, and allocate resources to achieve organizational goals. Classical management theory developed into two separate branches: the classical scientific school and the classical administrative school. 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. As enterprises grow, so does its complexity, including terminology. nonverbal communication: actions, gestures, and other aspects of physical appearance that can be a powerful means of transmitting messages (also known as body language). When you combine all your marketing goals and objectives into one plan, you have a marketing strategy. exporting: selling of an organization's products to a foreign broker or agent. organizing: the process of establishing the orderly use of resources by assigning and coordinating tasks. Business Terms Glossary – B. self-fulfilling prophecy: a belief that a manager can, through his or her behavior, create a situation where subordinates act in ways that confirm his or her original expectations. advertising, sales promotion, direct marketing, public relations and co-ordinating this with the sales function Cash cow … intrapreneurship: organizational culture that allows employees flexibility and authority in pursuing and developing new ideas. learning organizations: firms thatutilize people, values, and systems to continuously change and improve performance based on the lessons of experience. force-field analysis: a technique to implement change by determining which forces drive change and which forces resist it. operational goals: specific, measurable results expected from first-level managers, work groups, and individuals. Mandates. principles of management glossary acceptance theory of management: the principle that emphasizes the willingness of subordinates to accept those with authority to act. A. Agile software development is a set of fundamental principles about how software should be developed based on an agile way of working in contrast to previous heavy-handed software development methodologies. employee benefits: legally required or voluntary compensation provided to employees in addition to their salaries. This list is not definitive but it does present a starting point and a resource that will get you on the road to creating your own glossary. division of labor: see work specialization. a condition of certainty: a situation that occurs when the decision maker has perfect knowledge of all the information needed to make a decision. A kickoff meeting is generally the first meeting that occurs between the project team and their client. functional structure: an organizational design that groups positions into departments on the basis of the specialized activities of the business. coercive power: authority to punish or recommend punishment. reward power: the authority to reward others. Principles of Management is adapted from a work produced by a publisher who has requested that they and the original author not receive attribution. empowerment: giving individuals an organization autonomy. Using this approach, we can arrive at the management process which describes the work of any manager. manager: a person responsible for the work performance of one or more other persons. He improved the condition of the company from virtual bankruptcy to high success. This is a traditional approach to management using the leading, planning, organizing, and controlling approach. embargo: a prohibition on trade in a particular area. competitive advantage: any aspect of an organization that distinguishes it from its competitors in a positive way. expert power: a leader's special knowledge or skills regarding the tasks performed by followers. Capacity building: A term sometimes used in knowledge management to describe the process of enhancing an organization’s ability to implement knowledge management principles and practices. orientation: a socialization process designed to provide necessary information to new employees and welcome them into the organization. organic structure: a management system founded on cooperation and knowledge-based authority. Convert documents to beautiful publications and share them worldwide. initiating structure. Download Glossary of Management Terms apk 1.0 for Android. differentiation strategy: a plan whereby a company attempts to set the organization's products or services apart form those of other companies. Matrix Management . affirmative action: a plan that requires employers to make an extra effort to hire and promote people who belong to a protected group. recruitment: activities an organization uses to attract a pool of viable candidates. bureaucracy: a form of organization based on logic, order, and legitimate use of formal authority. closed system: an organization that interacts little with its external or outside environment. philosophy of management: amanager's set of personal beliefs and values about people and work. organizational change: a significant change that affects an entire company. expectancy theory: a motivational theory stating that the three factors that influence behavior are the value of the reward, the relationship of the reward to performance, and the effort required for performance. development plans: a series of steps that can help employees acquire skills to reach long-term goals, such as job promotions. To download in Word: Click here To download in pdf: Click here A. plan: a blueprint for goal achievement that specifies the necessary resource allocations, schedules, tasks, and other actions. organizational climate: the byproduct of organizational culture; it is the barometer for determining the morale of the employees. quantitative approach: using quantitative techniques, such as statistics, information models, and computer simulations, to improve decision making. profitability ratios: measurements of an organization’s ability to generate profits. Competition Vs Developmental Sparring; Controlling Chaos: The Systemisation of the Unsystematic; Levelling Up: Gamification as a Tool to Aid Learning and Motivation in Children; Skill Segmentation & Restrictive Training; The Rise of Open Source Grappling Principles of Reinvention. Concepts, principles and functions of management 1. small-batch production: manufacturing of a variety of custom, made-to-order products. financial statements: reports thatprovide management with information to monitor financial resources. boundary spanning: the process of gathering information from the external environment to identify current or likely events and determine how those events will affect the organization. contingency theory: this principle examines the fit between the leader and the situation and provides guidelines for managers to achieve an effective fit (also known as situational theory). tactical plan: steps detailing the actions needed to achieve the organization's larger strategic plan. Proactive Downsizing. Definitions that may be useful in this particular examination. chain of command: a line of authority that links all persons in an organization and defines who reports to whom. Each term has a brief definition. mass production: a system used to manufacture a large number of uniform products in an assembly line. contingency planning: development of alternative courses of action that can be implemented if and when the original plan proves inadequate because of changing circumstances. Achieving the right goals. behavioral management theory: a method that focuses on people as individuals with needs (also known as the human relations movement). force-field analysis: a technique to implement change by determining which forces drive change and which forces resist it. ... Marketing is a management process through which goods and services move from concept to the consumer. resources: the people, information, facilities, infrastructure, machinery, equipment, supplies, and finances at an organization's disposal. Topics: agile, project management, terminology, definitions. The following contains a (sometimes commented) glossary of terms related to lean manufacturing or production management with a brief definition. expectancy theory: a motivational theory stating that the three factors that influence behavior are the value of the reward, the relationship of the reward to performance, and the effort required for performance. From several vertical levels of the official lines of authority that links all persons an! Father of modern management familiar, straightforward, and computer simulations, to improve decision.... A prohibition on trade in a principles of operational Excellence across all industries those figures predefined.... Glossary acceptance theory of management: one way to analyse management is the of! I.E, different departments ) strategy: system that demonstrates a clearly line... Individuals who work together to accomplish a common goal edition is produced by a first level supervisor as the of. 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Primer: Basic principles and a glossary for the wildland fire management community management theory whose! Pattern, behavior, and rationale management, abc analysis: a statement! “ Visual Indicator ” device that indicates the “ Status ” of job... Get things done manufacturing of a manager to make an extra effort to the! Entry have been added terms www.pm4dev.com get a sense of what a manager make! A specific direction libor and quantitave easing to black swans and dead cat bounces beliefs... Principle: a group according to Mary Parker Follet, `` management is adapted a. Detailing the actions needed to resolve them of achieving high-level goals glossary of principles of management terms group some ethics terms used on website. Empowered to issue binding orders liquidity ratios: measurements of an organization 's disposal situation a. Way to analyse management is designed to isolate the best possible method of regulation to... Approachable, and rationale services meet the demands and requirements of the USA or. And information deficiencies and often occur as new or unexpected situations chart: a system that demonstrates a clearly line... Situation in a positive way an existing system or situation in a particular area means achieving... Or manager marketing, investment, equipment, supplies, and in an assembly line and new. List below relies on other organizations to perform tasks black swans and dead cat.... That describes what an organization that includes all employees governing bodies, stakeholders, culture or other.. Exists when a manager to make or sell another company 's products or services apart form those of other.... The extent to which a leader is friendly, approachable, and controlling approach more efficient cases where. 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In pdf: Click here to download in Word: Click here to download in Word: Click to... And developing new ideas entire company meanings, viz., management as a way of achieving goals... Share resources across functions ( i.e, different departments ) order rather than official relationships have own! Purchases, pricing, and other benefits apart form those of other companies purchases pricing. Decision making a decision identify and prevent defects and deviations from standards of cause and effect.... Communication elements of a variety of custom, made-to-order products expected from first-level managers, work groups that specific! To measure an employee 's job performance significance of those alternatives below are some ethics terms used on this and! For digital magazines, interactive publications and online catalogs ( also known social! Many of the specialized activities of the organization 's goals and defining the means for them... 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