Business Management Terms and Concepts, Quizzes of Human Resource Management

Download Business Management Terms and Concepts and more Quizzes Human Resource Management in PDF only on Docsity! TERM 1 Strategy DEFINITION 1 a plan of action to achieve a particular set of objectives TERM 2 Vision DEFINITION 2 what we expect to become as an organization at a particular future point in time TERM 3 Mission Statement DEFINITION 3 our expectations of what we're going to do in order to become the organization that we envisioned TERM 4 Objectives DEFINITION 4 state what is to be accomplished in singular, specific, and measurable terms with a target date TERM 5 Organizational structure DEFINITION 5 the way in which an organization groups its resources to accomplish its mission TERM 6 Formalization DEFINITION 6 the degree to which jobs are standardized within an organization TERM 7 Centralization DEFINITION 7 the degree to which decision making is concentrated within the organization TERM 8 Organizational culture DEFINITION 8 the values, beliefs, and assumptions about appropriate behavior that members of an organization share TERM 9 Economic Value Added (EVA) DEFINITION 9 a measure of profits that remain after the cost of capital has been deducted from operations profits TERM 10 Return on Investment (ROI) DEFINITION 10 measure of the financial return we receive because of something that we do to invest in our organization or its people