1. Conceptual skills: The ability to see the “big picture” and think about how things will work together
2. Controlling: The management function that monitors the work effort
3. Directing: The management function of providing guidance to workers and work projects
4. Executive management: Top-level management
5. Financial resources: All the sources of money available to a business
6. First-line management: Supervisors who work directly with the employees who carry out the business’s routine work
7. Goals: Objectives
8. Human resources: People who work to produce goods or services
9. Information: Knowledge, facts, or data
10. Interpersonal skills: The ability to communicate, interact, and build relationships with others
11. Management: The process of coordinating resources to accomplish an organization’s goals
12. Management function: Groups of activities related to management, i.e., planning, organizing, staffing, directing, and controlling
13. Manager: Individual whose job involves carrying out management functions
14. Material resources: Equipment and supplies used by businesses in their operation
15. Mid-level management: Managers who report to top-level management and who have supervisors who report to them
16. Middle management: Mid-level management
17. Organizing: The management function of setting up the way the business’s work will be done
18. Planning: The management function of deciding what will be done and how it will be accomplished
19. Resources: Items that can be used to produce goods and services
20. Staffing: The management function of finding workers for the business
21. Strategic planning: Long-range planning (three to five years) for the company as a whole
22. Strategies: Plans of action for achieving goals and objectives
23. Supervisory management: First-line management
24. Tactical planning: Short-range planning (one year) of specific actions the business will take
25. Technical skills: Ability to understand the specialized aspects of jobs
26. Top-level management: All managers who are responsible for the operation of the company or a business unit
27. Authority: Power to influence or control the opinions or behavior of others
28. Autocratic leadership: A dictatorial leadership style in which the leader relies on her/his positional authority within the organization to ensure that closely supervised employees do exactly as they are told to achieve required results
29. Democratic leadership: A leadership style built on mutual respect between the leader and employees that allows workers to have a say in the operation of the organization
30. Laissez-faire leadership: A hands-off leadership style in which the leader assumes little or no responsibility, allowing employees to determine their own work behavior and productivity level
31. Leader: An individual who influences others to achieve goals
32. Leadership: The ability to guide or direct the actions of others in a desired manner
33. Management: The process of coordinating resources to accomplish an organization’s goals
34. Personal authority: Authority given to an individual because of personality traits, character, or actions; informal authority
35. Positional authority: Authority and responsibility officially assigned to an individual who holds a position and/or a title on an organizational chart; formal authority
36. Situational theory of leadership: A theory of leadership style which holds that each situation is different and requires a different approach, calling upon the leader to analyze the situation and take appropriate action to perform the necessary tasks
37. Subordinates: Lower ranking members of an organization who are required to report to higher ranking supervisors and managers
38. Trait theory of leadership: A theory of leadership style which holds that select individuals are born with all of the traits and characteristics that are necessary to lead

Select from the vocabulary (Links to an external site.).

The Importance of Management – FORMAL ASSESSMENT

Directions: After reading the following scenario write a memo using 15 of the vocabulary terms from the link above.

Scenario: Leanne has just been hired at your company. As a new employee and recent high school grad, she has some basic business background but does not fully understand all managerial concepts. To make sure she’s successful, you decide to give her a brief overview of why the levels of management and leadership structures of a company are so important. 

Write a summary in memorandum format for Leanne. Your memo does not need to be more than a page long but must contain 15 of your vocabulary words.  PLEASE BOLD YOUR WORDS, thanks. You can key your memo on a Word document, Google document, or the text entry box of this assignment. Submit to Canvas when done.

Don’t forget proper formatting for a memo! (google it to see what one looks like).