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Comparing an organization’s practices, processes, and products against the world’s best. The term comes from putting a competitor’s product “up on the work bench” and literally measuring it to compare features to your product.
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An organization with many layers of managers who set rules and regulations and oversee all decisions.
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An organization structure in which decision-making authority is maintained at the top level of management at the company’s headquarters.
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The line of authority that moves from the top of a hierarchy to the lowest level. Typically communication within large organizations has to follow the steps in the “chain of commad”.
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Constantly improving the way the organization does things so that customer needs can be better satisfied.
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Those functions that an organization can do as well as or better than any other organization in the world.
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An organization structure in which decision-making authority is delegated to lower-level managers more familiar with local conditions than headquarters management could be.
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Dividing an organization into separate units (departments).
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Young people today are called digital natives because they grew up with the Internet. To reach them, companies are retaining older employees to be more tech-savvy
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The situation in which companies can reduce their production costs if they can purchase raw materials in bulk; the average cost of goods goes down as production levels increase. Generally, any situation where a company can produce product or services more effectively by buying larger quantities of supplies to achieve cost savings which get passed on to lower prices for the final product.
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Efficiencies associated with the demand side of a business where more products are promoted or a broader media is used to increase the potential customers reached with each dollar spent.
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An organization structure that has few layers of management and a broad span of control.
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The structure that details lines of responsibility, authority, and position; that is, the structure shown on organization charts.
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A system in which one person is at the top of the organization and there is a ranked or sequential ordering from the top down of managers who are responsible to that person.
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The system of relationships and lines of authority that develops spontaneously as employees meet and form power centres; that is, the human side of the organization that does not appear on any organization chart.
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An organization that has contact people at the top and the chief executive officer at the bottom of the organization chart. An example might be the manager of a vet clinic who runs things for the purpose of helping the vets (line personnel) do their job with the customers.
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An organization that has direct two-way lines of responsibility, authority, and communication running from the top to the bottom of the organization, with all people reporting to only one supervisor.
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Employees who are part of the chain of command that is responsible for achieving organizational goals – an easy way to remember this term is to think of “people on the front line”
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An organization in which specialists from different parts of the organization are brought together to work on specific projects but still remain part of a line-and-staff structure.
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The process of establishing and maintaining contacts with key managers in one’s own organization and other organizations and using those contacts to weave strong relationships that serve as informal development systems.
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Widely shared values within an organization that provide coherence and co-operation to achieve common goals.
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The present moment or the actual time in which something takes place; data sent over the Internet to various organizational partners as they are developed or collected are said to be available in real time.
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The fundamental rethinking and radical redesign of organizational processes to achieve dramatic improvements in critical measures of performance.
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Redesigning an organization so that it can more effectively and efficiently serve its customers.
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Groups of employees from different departments who work together on a long-term basis – common in high-tech companies.
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The optimum number of subordinates a manager supervises or should supervise.
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Employees who advise and assist line personnel in meeting the objectives of the company.
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An organization structure in which the pyramidal organization chart would be quite tall because of the various levels of management.
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Striving for maximum customer satisfaction by ensuring quality from all departments.
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The literal meaning is to be able to see through something – so a transparent company is one where you can see what is going on, there are no barriers. A concept that describes a company being so open to other companies working with it that the once-solid barriers between them become see-through and electronic information is shared as if the companies were one.
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A temporary networked organization made up of replaceable firms that join and leave as needed. Virtual companies can sometimes achieve results less expensively than companies that maintain full-time staff for every task.
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