CHAPTER 1 KEY TERMS (PART 1)

BOH4M1

Accountability The requirement of one person to

answer to a higher authority for performance results achieved in his or her area of work responsibility.

Conceptual Skill The ability to think critically and

analytically to solve complex problems.

Controlling The process of measuring work

performance, comparing results to objectives, and taking corrective action as needed.

Corporate Governance The active oversight of management

decisions and company actions by boards of directors

Discrimination Putting members of a population at a

disadvantage by treating them unfairly and denying them the full benefits of organizational membership.

Emotional Intelligence The ability to effectively manage

ourselves and our relationships.

Ethics A code of moral principles that sets

standards of what is “good” and “right” as opposed to “bad” and “wrong” in the conduct of a person or group.

Functional Managers Managers who have responsibility for

a single area of activity. Eg. Marketing, Accounting.

General Managers Managers who are responsible for

more complex organizational units that include many functional areas.

Glass Ceiling Effect An invisible barrier or “ceiling” that

prevents women and minorities from rising above a certain level of organizational responsibility.

Globalization The worldwide interdependence of

resource flows, product markets, and business competition that characterizes the new economy.

Human Skill The ability to work well in

cooperation with others.

Intellectual Capital The collective brainpower or shared

knowledge of a workforce that can be used to create value.

Knowledge Worker Someone whose mind is a critical

asset to employers and who adds to the intellectual capital of the organization.

Leading The process of generating

enthusiasm in others so they work hard and direct their efforts to accomplish objectives.

Lifelong Learning The process of continuously learning

from our daily experiences and opportunities.

Line Managers Managers who are responsible for

work activities that make a direct contribution to the organization’s outputs.

Management The process of planning, organizing,

leading, and controlling the use of resources to accomplish performance goals.

Manager A person in an organization that

directly supports and helps activate the work efforts and performance accomplishments of others.