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B
Balanced Scorecard
A performance management framework that measures an organization from financial, customer, internal process, and learning-and-growth perspectives.
Benchmarking
Comparing an organization's processes and performance against the best practices of competitors or industry leaders.
Bureaucracy
An organizational form characterized by formal rules, a clear hierarchy, and specialized roles, associated with Max Weber.
C
Chain of Command
The unbroken line of authority that runs from the top of an organization to the lowest level.
Change Management
A structured approach for moving individuals, teams, and organizations from their current state to a desired future state.
Competitive Advantage
An attribute or capability that allows a firm to outperform its rivals.
Contingency Theory
The view that the most effective management approach depends on situational factors; there is no single best way.
Core Competency
A unique strength or capability that gives a firm a lasting competitive advantage.
Corporate Social Responsibility (CSR)
A firm's commitment to operate ethically and contribute to society beyond its legal and economic obligations.
E
Emotional Intelligence
The ability to recognize, understand, and manage one's own emotions and to recognize and influence the emotions of others.
Empowerment
Giving employees the authority, resources, and autonomy to make decisions about their work.
Expectancy Theory
Vroom's theory that motivation depends on the belief that effort leads to performance, that performance leads to rewards, and that the rewards are valued.
M
Management by Objectives (MBO)
A process in which managers and employees jointly set objectives and then review performance against them.
Maslow's Hierarchy of Needs
A theory that human needs progress from physiological and safety needs to belonging, esteem, and self-actualization.
Matrix Structure
An organizational structure in which employees report to both a functional manager and a project or product manager.
Mission Statement
A statement of an organization's fundamental purpose and reason for existing.
S
Scientific Management
Frederick Taylor's approach of studying work tasks scientifically to improve efficiency and productivity.
SMART Goals
Goals that are Specific, Measurable, Achievable, Relevant, and Time-bound.
Span of Control
The number of subordinates a manager directly supervises.
Stakeholder
Any individual or group that is affected by, or can affect, an organization's actions.
Strategic Planning
The process of defining an organization's long-term direction and allocating resources to pursue it.
SWOT Analysis
A framework for assessing an organization's internal strengths and weaknesses and external opportunities and threats.
T
Theory X and Theory Y
McGregor's contrasting assumptions about employees: Theory X holds that people dislike work and need control, while Theory Y holds that they are self-motivated.
Total Quality Management (TQM)
An organization-wide approach to continuously improving the quality of products, services, and processes.
Transformational Leadership
A leadership style that inspires followers to exceed expectations through vision and personal development.