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Chapter 1 - Management Roundtree Erica Shannon Definitions...

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Management Chapter 1 – pgs. 25-27 Roundtree January 16, 2008 Erica Shannon Definitions - Management : the process of working with and through others to achieve organizational objectives in a changing environment - Effectiveness : promptly achieving a stated objective - Efficiency : when the resources required to achieve an objective are weighed against what was actually accomplished - Offshoring : controversial practice of sending jobs to low-wage countries - Internet : global network of servers and personal and organizational computers - e-Business : one seeking efficiencies via the internet in all basic business functions (production, marketing, and finance/accounting) - Managerial functions : general administrative duties that need to be carried out in virtually all productive organizations - Managerial skills : specific, observable behaviors that effective managers exhibit - Small Business : an independently owned and managed profit-seeking enterprise with fewer than 100 employees - Entrepreneurship
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