Management

Question	Answer
Salesman	Retailer
A company's purchasing department	Procurement
Authority is in one place (Top Level Management)	Centralized
Authority can be given to different managers	Decentralized
Department organization	Departmentalization
Simple enough for someone with no experience	Entry-level
The reason behind a result; looking in dept at a situation	Analysis
A private owner who controls the country's trade and industry instead of the government; in order to make better profit	Capitalist
A field of economic activity	Sector
A business the produces goods instead of services	Industry
Power given to someone in a manager position to mandate actions	Line Authority
Something a person or company owes (usually money) May include loans, accounts payable, mortgages, bonds, warranties, ect.	Liability
To transfer business management to a third-party service provider	Outsource
Commercial activity through the internet (online ads)	E-Commerce
Tax on all imported goods	Tariff
A number set for a goal (min or max)	Quota
A place to resolve issues between the business and its customers	BBB (Better Business Bureau)
They set the long term goals and look at the big picture (CEO)	Top Level Management
They carry out the decisions made by the top level management and are responsible for a single department, creating plans to reach the goals set	Middle Manager
They deal with day to day things, short term problems, manage employees, and work on meeting close deadlines	Operational Management

Resource summary

	Created by Samantha Mendez over 3 years ago