How Much Do I Know About Chapter 1?

1. What is management?
   Management is carrying out tasks with and through others.
   Management: is the process of working with and through others to achieve organizational objectives in a changing environment.
2. What is effectiveness?
   Effectiveness is accomplishing something thoroughly
   Effectiveness: a central element in the process of management that entails achieving a stated organizational objective
3. What is efficiency?
   No answer
   Efficiency: a central element in the process of management that balances the amount of resources used to achieve an objective against what was actually accomplished
4. What is offshoring?
   Offshoring is doing parts of your business outside of the country you are based.
   Offshoring: controversial practice of sending jobs to low-wage countries
5. What is the Internet?
   A matrix of information available to anyone using a computer with an internet service provider
   Internet: global network of servers and personal and organizational computers
6. What is EBusiness?
   EBusiness is a business conducted strictly on the internet.
   EBusiness: a business using the Internet for greater efficiency in every aspect of its operations
7. What are managerial functions?
   Managerial functions are any tasks that would fulfill a company’s goals.
   Managerial functions: general administrative duties that need to be carried out in virtually all productive organizations to achieve desired outcomes
8. What are managerial skills?
   Managerial skills are the ability to carry out a company’s tasks and goals effectively and efficiently.
   Managerial skills: specific observable behaviors that effective managers exhibit
9. What is small business?
   A business that has less than 100 employees
   An independently owned and managed profit-seeking enterprise with fewer than 100 employees
10. What is entrepreneurship?
    To start a business on your own
    Process of pursuing opportunities without regard to resources currently under one’s control