Business Management and Leadership Flashcards
6 cards from real FBLA practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 6 Business Management and Leadership flashcards as text
What is 'human resource management' (HRM) responsible for?
Answer: Recruiting, training, compensating, and retaining employees
HRM handles all aspects of the employee lifecycle, including hiring, training, performance management, and compliance with labor laws.
What is a 'GANTT chart' used for in project management?
Answer: Displaying project tasks, timelines, and progress visually
A GANTT chart is a bar chart that shows project tasks along a timeline, helping managers visualize schedules and track progress.
What does 'benchmarking' mean in business management?
Answer: Comparing a company's performance metrics against industry best practices or competitors
Benchmarking is the process of comparing a business's processes and metrics against recognized standards or top performers to identify improvements.
What is 'Total Quality Management' (TQM)?
Answer: A company-wide approach to continuously improving quality in all processes and products
TQM is a management philosophy that focuses on continuous improvement of quality across all organizational functions, involving all employees.
What is 'decentralization' in organizational management?
Answer: Distributing decision-making authority to lower levels of the organization
Decentralization pushes decision-making authority down to mid- and lower-level managers, enabling faster responses and greater employee empowerment.
What is an 'organizational chart' (org chart)?
Answer: A visual diagram showing the structure, roles, and reporting relationships within an organization
An org chart visually maps the hierarchy and reporting relationships within a company, showing who reports to whom.