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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