20 KEY TERMS OF MANAGEMENT
1. Management - Planning, organizing, leading and, controlling resources for the purpose of achieving organizational goals. 2. Management functions - Planning: Defining the goals as directed by executive management; developing strategy; conceptualizing coordinated efforts. - Organizing: Establishing the tasks that will achieve the goals; defining lines of leadership; determining where decisions will be made. - Leading: Motivating and directing subordinates; establishing effective communications; resolving conflicts quickly and equitably. - Controlling: Ensuring tasks are accomplished as planned and correcting deviations. - Organization: A collective social unit that is goal oriented and formally structured. - Performance: An organization’s actions that measurably contribute to the achievement of organizational goals. - Efficiency: The achievement of organizational goals with