Business Management exam #1

Business Management exam #1 - Business Management Exam#1...

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Business Management Exam #1 Vocabulary Organizations: a group of people and resources that provide goods and services to satisfy people’s needs Organizational Theory : the study of how organizations function and how they affect/ are affected by the environment in which they operate Organizational structure : The formal system of task and authority relationships, which controls how people coordinate their actions and how they use resources to obtain the organizational goal Organizational culture : share values and norms that control interaction between workers and customers Organizational design: process in which managers select and manage aspects of structure and culture, so that the organization can control its activities. Organizational change: process in which organizations redesign their structure and culture to get from their current status to where they want to be. Use resources to create value.
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