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  • Economies of Scale

    Companies can reduce their production costs by purchasing raw materials in bulk.

    Hierarchy

    A system in which one person is at the top of an organization and there is a ranked or sequential ordering from the top down.

    Chain of Command

    The line of authority that moves from the top of the hierarchy to the lowest level.

    Organization Chart

    A visual device that shows relationships among people and divides the organization's work; it shows who reports to whom.

    Bureaucracy

    An organization with many layers of managers who set rules and regulations and oversee all decisions.

    Centralized Authority

    When decision-making is concentrated at the top level of management.

    Decentralized Authority

    When decision-making is delegated to lower-level managers and employees more familiar with local conditions than headquarters is.

    Span of Control

    The optimal number of subordinates a manager supervises or should supervise.

    Tall Organization Structures

    An organizational structure in which the organization chart would be tall because of the various levels of management.

    Flat Organization Structures

    An organizational structure that has few layers of management and a broad span of control.

    Departmentalization

    Divides organizations into separate units.

    Line Organization

    Has direct two-way lines of responsibility, authority and communication running from the top to the bottom. Everyone reports to one supervisor.

    Line Personnel

    Workers responsible for directly achieving organizational goals, and include production, distribution and marketing employees.

    Staff Personnel

    Employees who advise and assist line personnel in meeting their goals, and include marketing research, legal advising, IT and human resource employees.

    Matrix Organization

    Specialists from different parts of the organization work together temporarily on specific projects, but still remain part of a line-and-staff structure.

    Cross-Functional Self-Managed Teams

    Groups of employees from different departments who work together on a long-term basis.

    Networking

    Using communications technology to link organizations and allow them to work together.

    Real Time

    The present moment or actual time in which something takes place.

    Transparency

    When a company is so open to other companies that electronic information is shared as if the companies were one.

    Virtual Corporation

    A temporary networked organization made up of replaceable firms that join and leave as needed.

    Benchmarking

    Compares an organization's practices, processes and products against the world's best.

    Core Competencies

    The functions an organization can do as well as or better than any other organization in the world.

    Digital Natives

    Young people who have grown up using the Internet and social networking.

    Restructuring

    Redesigning an organization so it can more effectively and efficiently serve its customers.

    Inverted Organization

    - An organization that has contact people at the top and the CEO at the bottom of the organizational chart.

    Organizational/Corporate Culture

    The widely shared values within an organization that foster unity and cooperation to achieve common goals.

    Formal Organization

    Details lines of responsibility, authority and position.

    Informal Organization

    The system of relationships that develop spontaneously as employees meet and form relationships.

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