Manageria

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Add To What You Know ⁽¹⁾

Prepared by: "Optimanage.com" Team

Terms Used for Human Resources Management and Staffing

BFOQ:		Those letters stand for "Bona Fide Occupational Qualification". These are selection criteria used when hiring a new employee. These criteria refer to aspects of the job that a new employee must meet and at the same time do not violate any laws against discrimination.
Development:		It is the Human Resources (HR) function that develops the skills of employees to improve their performance of their current job and prepare them for future tasks and higher-level responsibilities.
Career Path:		A set of jobs that are planned for an employee in an organization to develop this employee's business and technical skills needed for the next position.
Compensation:		The system to reward each employee fairly and equitably. Rewards can be Cash or Non-Cash rewards. Cash reward is the Salary. Non-Cash rewards are other benefits like; sick leave, vacation days, health, tuition payments and social security payments.

Managing Motivation

Motivation:		The process to stimulate a person to take action to accomplish a desired goal.
Job Satisfaction:		A person’s general attitude and feeling regarding the job.

When it Comes to Organizing

Division of Labor:		The division of large sectors of work and functions into smaller activities and tasks.
Span of Control:		It is the most appropriate number of subordinates a manager can supervise effectively.
Unity of Command:		Each employee must have one immediate supervisor only!

Understanding Planning

Planning:		It is the process to define the organization’s goals and determine how to achieve them.
Strategic Planning:		It is the planning of the organization’s direction and its components. It defines the organization’s mission with regard to its main business activity. The outcome of strategic planning is the general guideline to determine business areas and/or markets to enter or withdraw from.
Long-Range Planning:		Is identifying and evaluating alternatives to achieve the organization’s mission. The outcome of such planning are targets of opportunity in the related industry and/or market.
Operational Planning:		It is also called day-by-day planning. It addresses timetables and measurable targets.

Functions of Management

Goal:		An organization’s long-term aim. It is usually tied to a certain period of time.
Objective:		It is an expected result by the end of a specific budget cycle.
Standard of Performance:		It is a statement of what will happen when a specific responsibility is carried out well.
Budget Period:		It is a time period for which a budget is developed and against which a manager is evaluated in an organization. Such budget periods can be 6 months, 12 months, 18-month rolling.

Decision Making

Systems Thinking:

It is a recent approach used in Problem-Solving. It considers that problems are complex situations and that solutions can alleviate the problem but will have an effect on all other parts of the organization. This approach consider that a solution should be evaluated on how much it solves the problem – intended result - and how much it affects the organization – unintended result. It also considers that problems and solutions are not constant; situations change, problems change, new solutions are always needed.

Environments of Business

Open Systems Model:		It views the organization as an entity continually and dynamically interacting with its environment. It takes input, acts on that input, produces output, and delivers that output.
External Environment:		They are the factors that are outside the organization that will influence it. They will also interact with the organization. These include; economic, political, sociological, and the latest technological factors.
Internal Environment:		They are the factors that are inside the organization. They are its resources. These include; financial, physical, human, and the latest technology factors.
Corporate Culture:		It is the organization’s values, customs, traditions, and meanings. These factors make the organization unique. It is also known as the character of the organization.
Business Ethics:		It is the code that is used by the organization as a business guide for its actions. Actions that may be legal could be considered unethical by the organization because they may be going against the accepted moral standards of the place, time, and culture in which the organization is conducting business.

References:
(1) Patrick J. Montana and Bruce H. Charnov, "Management", Business Review Books, Third Edition, Baron’s (2000).