The Federal Communications Commission

Published Date: 02 Nov 2017

Poonam Patil

Study Guide #1

TMGT 599 01W Technology Management Practicum

Presented to

Dr. Jason Lee Davis

January 23, 2013

Study Guide – TMGT 510

Commission

The payment for products sold or services rendered is called commission to reward sales people. These commissions often will be calculated on the percentage basis of the goods sold. This is a way for firms to solve the principal-agent problem, by attempting to realign employees' interests with those of the firm.

Federal Communications Commission

The Federal Communications Commission is an independent agency of the United States government, created, Congressional statute, and with the majority of its commissioners appointed by the current President. The Federal Communications Commission works towards six goals in the areas of broadband, competition, the spectrum, the media, public safety and homeland security, and modernizing the Federal Communications Commission.

International

International mostly means something (a company, language or organization) that involves more than one country. The term international as a word means involvement of, interaction between or encompassing more than one nation, or generally beyond national boundaries. For example, international law, which is applied by more than one country over the world, and international language which is a language spoken by residents of more than one country.

Theory X and theory Y

Theory X and Theory Y are theories of human motivation created and developed by Douglas McGregor at the MIT Sloan School of Management in the 1960s that have been used in human resource management, organizational behavior, organizational communication and organizational development. They describe two very different attitudes toward workforce motivation. McGregor felt that companies followed either one or the other approach.

Leadership

Leadership has been described as the 'process of social influence in which one person can enlist the aid and support of others in the accomplishment of a common task'. Definitions more inclusive of followers have also emerged. Alan Keith of Genentech states that, 'Leadership is ultimately about creating a way for people to contribute to making something extraordinary happen.' According to Ken 'SKC' Ogbonnia, 'effective leadership is the ability to successfully integrate and maximize available resources within the internal and external environment for the attainment of organizational or societal goals.'

Changing

Wendell L. French and Cecil Bell define organization development (OD) at one point as 'organization improvement through action research'. If one idea can be said to summarize OD's underlying philosophy, it would be action research as it was conceptualized by Kurt Lewin and later elaborated and expanded on by other behavioral scientists. Concerned with social change and, more particularly, with effective, permanent social change, Lewin believed that the motivation to change was strongly related to action: If people are active in decisions affecting them, they are more likely to adopt new ways. Lewin's description of the process of change involves three steps: Unfreezing: Faced with a dilemma or disconfirmation the individual or group becomes aware of a need to change. Changing: The situation is diagnosed and new models of behavior are explored and tested. Refreezing- Application of new behavior is evaluated, and if reinforcing, adopted.

Concurrent Engineering

Concurrent engineering is a work methodology based on the parallelization of tasks (i.e. performing tasks concurrently). It refers to an approach used in product development in which functions of design engineering. Manufacturing engineering and other functions are integrated to reduce the elapsed time required to bring a new product to the market. The concurrent engineering method is still a relatively new design management system, but has had the opportunity to mature in recent years to become a well-defined systems approach towards optimizing engineering design cycles.

Engineering Management

Engineering management is a specialized form of management concerned with the application in engineering as a result of the unique personalities and technical nature of engineering. Engineering Management programs typically include instruction in accounting, economics, finance, human resources management, industrial psychology, management information systems, mathematical modeling and optimization, quality control, operations research, safety and health issues, and environmental management. Whereas the term project management refers to human resourcing, engineering management refers to the functional management of technical professionals.

Knowledge Management

Knowledge Management comprises a range of strategies and practices used in an organization to identify, create, represent, distribute, and enable adoption of insights and experiences. Such insights and experiences comprise knowledge, either embodied in individuals or embedded in organizational processes or practice. An established discipline since 1991 , Knowledge management includes courses taught in the fields of business administration, information systems, management, and library and information sciences (Alavi & Leidner 1999).

Social Responsibility

Social responsibility is an ethical ideology or theory that an entity, be it an organization or individual, has an obligation to act to benefit society at large. This responsibility can be passive, by avoiding engaging in socially harmful acts, or active, by performing activities that directly advance social goals. Businesses can use ethical decision making to secure their businesses by making decisions that allow for government agencies to minimize their involvement with the corporation.

Market

A market is any one of a variety of systems, institutions, procedures, social relations and infrastructures whereby parties engage in exchange. While parties may exchange goods and services by barter, most markets rely on buyers offer their goods or services (including labor) in exchange for money (legal tender such as fiat money) from buyers. For a market to be competitive there must be more than a single buyer or seller.

Product

The noun product is defined as a 'thing produced by labor or effort' or the 'result of an act or a process', and stems from the verb produce, from the Latin produce(re) '(to) lead or bring forth'. Since 1575, the word 'product' has referred to anything produced. Since 1695, the word has referred to 'thing or things produced'.

Risk

Risk is the potential that a chosen action or activity (including the choice of inaction) will lead to a loss (an undesirable outcome). The notion implies that a choice having an influence on the outcome exists (or existed). Potential losses themselves may also be called 'risks'.

Risk Management

Risk management is the identification, assessment, and prioritization of risks (defined in ISO 31000 as the effect of uncertainty on objectives, whether positive or negative) followed by coordinated and economical application of resources to minimize, monitor, and control the probability and/or impact of unfortunate events or to maximize the realization of opportunities. Risks can come from uncertainty in financial markets, project failures, legal liabilities, credit risk, accidents, natural causes and disasters as well as deliberate attacks from an adversary. Several risk management standards have been developed including the Project Management Institute, the National Institute of Science and Technology, actuarial societies, and ISO standards.

Joint Venture

A joint venture is a business agreement in which parties agrees to develop, for a finite time, a new entity and new assets by contributing equity. They both exercise control over the enterprise and consequently share revenues, expenses and assets. There are other types of companies such as Joint venture limited by guarantee, joint ventures limited by guarantee with partners holding shares.

Partnership

A partnership is an arrangement where entities and/or individuals agree to cooperate to advance their interests. In the most frequent instance, a partnership is formed between one or more businesses in which partners (owners) co-labor to achieve and share profits or losses.

Partnerships are also frequent regardless of and among sectors.

Product Management

Product management is an organizational lifecycle function within a company dealing with the planning or forecasting or marketing of a product or products at all stages of the product lifecycle. Product management and product marketing (outbound focused) are different yet complementary efforts with the objective of maximizing sales revenues. market share, and profit margins. The role of product management spans many activities from strategic to tactical and varies based on the organizational structure of the company.

Project Management

Project management is the discipline of planning organizing, securing and managing resources to bring about the successful completion of specific project goals and objectives. It is sometimes conflated with program management. However, technically that is actually a higher level construction: a group of related and somehow interdependent engineering projects. A project is a temporary endeavor, having a defined beginning and end (usually constrained by date. but can be by funding or deliverables), undertaken to meet unique goals and objectives, usually to bring about beneficial change or added value.

Authority

Authority in management is the formal or legitimate authority specified in a charter that gives a project manager the authority to act in the name of the sponsoring executive or on behalf on the organization. There are different types of authority:

Positional authority: refers to the project manager's authority enforced through the project charter.

Coercive authority: refers to motivating staff by punishment and is predicated on fear of losing status, positions, bonuses or jobs.

Expert authority: is earned if the team respects one's skills as a project manager or subject-matter expert.

Referent authority: refers to the ability to influence others through charisma, personality, and charm.

Reward authority: refers to positive reinforcement and the ability to award something of value.

Innovation

In time series analysis (or forecasting) -- as conducted in statistics, signal processing, and many other fields -- the innovation is the difference between the observed value of a variable at time t and the optimal forecast of that value based on information available prior to time t. If the forecasting method is working correctly successive innovations are uncorrelated with each other, i.e., constitute a white noise time series. Thus it can be said that the innovation time series is obtained from the measurement time series by a process of 'whitening', or removing the predictable component.

Management Process

Management process is a process of planning and controlling the performance or execution of any type of activity, such as: a project (project management process) or a process (process management process is responsible for carrying out its management process. However, this is not always the case for all management processes; for example, it is the responsibility of the project manager to carry out a project management process.)

Efficiency

Efficiency in general describes the extent to which time or effort is well used for the intended task or purpose. It is often used with the specific gloss of relaying the capability of a specific application of effort to produce a specific outcome effectively with a minimum amount or quantity of waste, expense, or unnecessary effort. 'Efficiency' has widely varying meanings in different disciplines.

Accountability

Accountability is a concept in ethics and governance with several meanings. It is often used synonymously with such concepts as responsibility, answerability, blameworthiness, liability, and other terms associated with the expectation of account-giving. As an aspect of governance, it has been central to discussions related to problems in the public sector, nonprofit and private (corporate) worlds.

Information Technology

I Information technology is the acquisition, processing, storage and dissemination of vocal, pictorial, textual and numerical information by a microelectronics-based combination of computing and telecommunications We shall call it information technology.' Information technology is the area of managing technology and spans wide variety of areas that include but are not limited to things such as processes, computer software, information systems, computer hardware, programming languages, and data constructs.

Commerce

While business refers to the value-creating activities of an organization for profit, commerce means the whole system of an economy that constitutes an environment for business. The system includes legal, economic, political, social, cultural, and technological systems that are in operation in any country. Thus commerce is a system or an environment that affects the business prospects of an economy or a nation-state.

Gantt Chart

A Gantt chart is a type of bar chart that illustrates a project schedule. Gantt charts illustrate the start and finish dates of the terminal elements and summary elements of a project. Terminal elements and summary elements comprise the work breakdown structure of the project.

Matrix Management

Matrix Management is a type of organizational management in which people with similar skills are pooled for work assignments. For example, all engineers may be in one engineering department and report to an engineering manager, but these same engineers may be assigned to different projects and report to a project manager while working on that project. Therefore, each engineer may have to work under several managers to get their job done.

Program Management

Program management is the process of managing several related projects, often with the intention of improving an organization's performance. In practice and in its aims it is often closely related to systems engineering and industrial engineering. There are two different views of how programs differ from projects.

Hybrid Organization

A hybrid organization is a body that operates in both the public sector and the private sector, simultaneously fulfilling public duties and developing commercial market activities. As a result the hybrid organization becomes a mixture of both a part of government and a commercial enterprise. Examples include universities that provide consultancy services on a commercial basis, social housing providers that compete with commercial property developers, public schools that offer trainings for companies and hospitals that provide private medical check-ups.

Job Description

A job description is a list that a person might use for general tasks, or functions, and responsibilities of a position. It may often include to whom the position reports, specifications such as the qualifications or skills needed by the person in the job, or a salary range. Job descriptions are usually narrative, but some may instead comprise a simple list of competencies; for instance, strategic human resource planning methodologies may be used to develop competency architecture for an organization, from which job descriptions are built as a shortlist of competencies.

Organizational Chart

An organizational chart (often called organization chart, org chart, organigram(me), or organogram(me)) is a diagram that shows the structure of an organization and the relationships and relative ranks of its parts and positions/jobs. The term is also used for similar diagrams, for example ones showing the different elements of a field of knowledge or a group of languages. The French Encyclopedic had one of the first organizational charts of knowledge in general.

Policy

A policy is typically described as a principle or rule to guide decisions and achieve rational outcome(s). The term is not normally used to denote what is actually done; this is normally referred to as either procedure or protocol. Whereas a policy will contain the 'what' and the 'why', procedures or protocols contain the 'what', the 'how', the 'where', and the 'when'.

Bridge

A bridge is a type of social tie that connects two different groups in a social network. In general, a bridge is a direct tie between nodes that would otherwise be in disconnected components of the graph. This means that say that A and B make up a social networking graph, n1 is in A, n2 is in B, and there is a social tie e between n1 and n2.

Just-in-time

Just-in-Time is a production strategy that strives to improve a business' return on investment by reducing in-process inventory and associated carrying costs. Just In Time production method is also called the Toyota Production System. To meet Just in time objectives, the process relies on signals or Kanban between different points in the process, which tell production when to make the next part.

System

System is a set of interacting or interdependent components forming an integrated whole.

A system is a set of elements (often called 'components' instead) and relationships which are different from relationships of the set or its elements to other elements or sets.

Fields that study the general properties of systems include systems theory, cybernetics, dynamical systems, thermodynamics and complex systems.

Quality

Quality in business, engineering and manufacturing has a pragmatic interpretation as the non-inferiority or superiority of something. Quality is a perceptual, conditional and somewhat subjective attribute and may be understood differently by different people. Consumers may focus on the specification quality of a product/service, or how it compares to competitors in the marketplace.

Performance Appraisal

A performance appraisal, employee appraisal, performance review, or (career) development discussion is a method by which the job performance of an employee is evaluated (generally in terms of quality, quantity, cost, and time) typically by the corresponding manager or supervisor. A performance appraisal is a part of guiding and managing career development. It is the process of obtaining, analyzing, and recording information about the relative worth of an employee to the organization.

Motivation

Motivation is the driving force which causes us to achieve goals. Motivation is said to be intrinsic or extrinsic. The term is generally used for humans but, theoretically, it can also be used to describe the causes for animal behavior as well.

Development Management

Development management deals with the coordination and management processes of international development programs and projects. The dominant paradigm in development management is the intervention in the form of a transfer of aid by an external agency/donor and the oversight of the related project cycle, i.e. project identification, planning (formulation and appraisal), implementation and monitoring, and evaluation. A broad range of donors and implementing organizations use the Logical Framework Approach to provide a structured method of project cycle management.

Contingency Theory

Contingency theory is a class of behavioral theory that claims that there is no best way to organize a corporation, to lead a company, or to make decisions. Instead, the optimal course of action is contingent (dependent) upon the internal and external situation. Several contingency approaches were developed concurrently in the late 1960s.

Pygmalion Effect

The Pygmalion effect refers to the phenomenon in which the greater the expectation placed upon people, often children or students and employees, the better they perform. The effect is named after Pygmalion, a Cypriot sculptor in a narrative by Ovid in Greek mythology, who fell in love with a female statue he had carved out of ivory. The Pygmalion effect is a form of self-fulfilling prophecy, and, in this respect, people with poor expectations internalize their negative label, and those with positive labels succeed accordingly.

Two-factor Authentication

Two-factor authentication means using two independent means of evidence to assert an entity's identity to another entity. From a security perspective, the idea is to use evidences which have separate range of attack vectors (e.g. logical, physical) leading to more complex attack scenario and consequently, lower risk.

Two-factor Theory

The two-factor theory states that there are certain factors in the workplace that cause job satisfaction, while a separate set of factors cause dissatisfaction. It was developed by Frederick Herzberg, a psychologist, who theorized that job satisfaction and job dissatisfaction act independently of each other.

Reinforcement

Reinforcement is a term in operant conditioning and behavior analysis for the process of increasing the rate or probability of a behavior (e.g. pulling a lever more frequently) by the delivery or emergence of a stimulus (e.g. a candy) immediately or shortly after the behavior, called a 'response,' is performed. The response strength is assessed by measuring frequency, duration, latency, accuracy, and/or persistence of the response after reinforcement stops. Experimental behavior analysts measured the rate of responses as a primary demonstration of learning and performance in non-humans (e.g. the number of times a pigeon pecks a key in a 10-minute session).

Reinforcement Theory

Reinforcement theory is a limited effects media model applicable within the realm of communication. The theory generally states that people seek out and remember information that provides cognitive support for their pre-existing attitudes and beliefs. The main assumption that guides this theory is that people do not like to be wrong and often feel uncomfortable when their beliefs are challenged.

Trust

A special trust is a business entity formed with intent to monopolize business, to restrain trade, or to fix prices. Trusts gained economic power in the U.S. in the late 19th and early 20th centuries. Some, but not all, were organized as trusts in the legal sense.

Situational Ethics

Situational ethics is a Christian ethical theory that was principally developed in the 1960s by the then Episcopal priest Joseph Fletcher. It basically states that sometimes other moral principles can be cast aside in certain situations if love is best served; as Paul Tillich once put it: 'Love is the ultimate law.' The moral principles Fletcher is specifically referring to are the moral codes of Christianity and the type of love he is specifically referring to is 'Agape' love. Agape is a Greek term meaning absolute, universal, unchanging and unconditional love for all people.

Salary

A salary is a form of periodic payment from an employer to an employee, which may be specified in an employment contract. It is contrasted with piece wages, where each job, hour or other unit is paid separately, rather than on a periodic basis. From the point of a business, salary can also be viewed as the cost of acquiring human resources for running operations, and is then termed personnel expense or salary expense.

Program Evaluation and Review Technique

The Program Evaluation and Review Technique, commonly abbreviated PERT, is a statistical tool, used in project management that is designed to analyze and represent the tasks involved in completing a given project. First developed by the United States Navy in the 1950s, it is commonly used in conjunction with the critical path method or CPM. Program Evaluation and Review Technique was developed primarily to simplify the planning and scheduling of large and complex projects. It was developed for the U.S. Navy Special Projects Office in 1957 to support the U.S. Navy's Polaris nuclear submarine project. It was able to incorporate uncertainty by making it possible to schedule a project while not knowing precisely the details and durations of all the activities.

Work Breakdown Structure

A work breakdown structure in project management and systems engineering, is a tool used to define and group a project's discrete work elements in a way that helps organize and define the total work scope of the project. A work breakdown structure element may be a product, data, a service, or any combination. A Work breakdown structure also provides the necessary framework for detailed cost estimating and control along with providing guidance for schedule development and control.

Specification

A specification is an explicit set of requirements to be satisfied by a material, product, or service. Should a material, product or service fail to meet one or more of the applicable specifications, it may be referred to as being out of specification; the abbreviation 00S may also be used. A technical specification may be developed privately, for example by a corporation, regulatory body, or military organization, or it may be developed by standards organizations which often have more diverse input and usually develop voluntary standards (Voluntary standards may become mandatory if adopted by a government or business contract).

Deliverable

Deliverable is a term used in project management to describe a tangible or intangible object produced as a result of the project that is intended to be delivered to a customer (either internal or external). A deliverable could be a report, a document, a server upgrade or any other building block of an overall project. The word is considered corporate jargon.

Work Package

In project management, a work package is a subset of a project that can be assigned to a specific party for execution. Because of the similarity, work packages are often misidentified as projects. Similar to a work breakdown structure, a work package is part of a Plan Breakdown Structure, representing a collection of work actions necessary to create a specific result.

Milestone

Within the framework of project management, a milestone is the end of a stage that marks the completion of a work package or phase, typically marked by a high level event such as completion, endorsement or signing of a deliverable, document or a high level review meeting.

In addition to signaling the completion of a key deliverable, a milestone may also signify an important decision or the derivation of a critical piece of information, which outlines or affects the future of a project. In this sense, a milestone not only signifies distance traveled (key stages in a project) but also indicates direction of travel since key decisions made at milestones may alter the route through the project plan.

Benchmarking

Benchmarking is the process of comparing one's business processes and performance metrics to industry bests and/or best practices from other industries. Dimensions typically measured are quality, time and cost. Improvements from learning mean doing things better, faster, and cheaper.

Variance

In probability theory and statistics, the variance is used as a measure of how far a set of numbers are spread out from each other. It is one of several descriptors of a probability distribution, describing how far the numbers lie from the mean (expected value). In particular, the variance is one of the moments of a distribution.

Returns

Returns, in economics and political economy, are the distributions or payments awarded to the various suppliers of the factors of production. Wages are the return to labor--the return to an individual's involvement (mental or physical) in the creation or realization of goods or services. Wages are realized by an individual supplier of labor even if the supplier is the self.

Investment

Investment is putting money into something with the expectation of profit. More specifically, investment is the commitment of money or capital to the purchase of financial instruments or other assets so as to gain profitable returns in the form of interest, dividends, or appreciation of the value of the instrument (capital gains). It is related to saving or deferring consumption. Investment is involved in many areas of the economy, such as business management and finance whether for households, firms, or governments. An investment involves the choice by an individual or an organization, such as a pension fund, after some analysis or thought, to place or lend money in a vehicle, instrument or asset, such as property, commodity, stock, bond, financial derivatives (e.g. futures or options), or the foreign asset denominated in foreign currency, that has certain level of risk and provides the possibility of generating returns over a period of time.

Payback Period

Payback period in capital budgeting refers to the period of time required for the return on an investment to 'repay' the sum of the original investment. For example, a $1000 investment which returned $500 per year would have a two year payback period. The time value of money is not taken into account.

Teamwork

In a business setting accounting techniques may be used to provide financial measures of the benefits of teamwork which are useful for justifying the concept. In health care teamwork has been defined as: a dynamic process involving two or more healthcare professionals with complementary backgrounds and skills, sharing common health goals and exercising concerted physical and mental effort in assessing, planning, or evaluating patient care. Teamwork is increasingly advocated by health care policy makers as a means of assuring quality and safety in the delivery of services.

Virtual Team

A virtual team is a group of individuals who work across time, space and organizational boundaries with links strengthened by webs of communication technology' Ale Ebrahim, N. Ahmed, S. & Taha, Z. in their recent (2009) literature review paper added two key issues to definition of a virtual team as small temporary groups of geographically, organizationally and/ or time dispersed knowledge workers who coordinate their work predominantly with electronic information and communication technologies in order to accomplish one or more organization tasks' Members of virtual teams communicate electronically and may never meet face-to-face. Virtual teams are made possible by a proliferation of fiber optic technology that has significantly increased the scope of off-site communication.

Team Building

Team Building refers to a wide range of activities, presented to businesses, schools, sports teams, religious or nonprofit organizations designed for improving team performance. Team building is pursued via a variety of practices, and can range from simple bonding exercises to complex simulations and multi-day team building retreats designed to develop a team (including group assessment and group-dynamic games), usually falling somewhere in between. It generally sits within the theory and practice of organizational development, but can also be applied to sports teams, school groups, and other contexts.

Field Research

Field research/primary market research has traditionally been thought different from methods of research conducted in a laboratory or academic setting.

Quality Costs

The concept of quality costs is a means to quantify the total cost of quality-related efforts and deficiencies. It was first described by Armand V. Feigenbaum in a 1956 Harvard Business Review article. Prior to its introduction, the general perception was that higher quality requires higher costs, either by buying better materials or machines or by hiring more labor.

Cost Accounting

In management accounting, cost accounting establishes budget and actual cost of operations, processes, departments or product and the analysis of variances, profitability or social use of funds. Managers use cost accounting to support decision-making to cut a company's costs and improve profitability. As a form of management accounting, cost accounting need not follow standards such as GAAP, because its primary use is for internal managers, rather than outside users, and what to compute is instead decided pragmatically.

Sustainable Development

Sustainable development is a pattern of resource use that aims to meet human needs while preserving the environment so that these needs can be met not only in the present, but also for generations to come (sometimes taught as ELF-Environment, Local people, Future). The term was used by the Brundtl and Commission which coined what has become the most often-quoted definition of sustainable development as development that 'meets the needs of the present without compromising the ability of future generations to meet their own needs.' Sustainable development ties together concern for the carrying capacity of natural systems with the social challenges facing humanity. As early as the 1970s 'sustainability' was employed to describe an economy 'in equilibrium with basic ecological support systems.' Ecologists have pointed to The Limits to Growth, and presented the alternative of a 'steady state economy' in order to address environmental concerns.

Proposal

A business proposal is a written offer from a seller to a prospective buyer. Business proposals are often a key step in the complex sales process--i.e., whenever a buyer considers more than price in a purchase. There are three distinct categories of business proposals: formally solicited, informally solicited, unsolicited. Solicited proposals are written in response to published requirements, contained in a Request for Proposal Request for Quotation (RFQ), Request for Information (RFI) or an Invitation For Bid (IFB).

Solicitation

Literally, solicitation means: 'urgently asking'. It is the action or instance of soliciting; petition; proposal. In criminal law, it most commonly refers to either the act of offering goods or services, or the act of attempting to purchase goods or services, that are prohibited by law.

Decision Making

Decision making can be regarded as the mental processes (cognitive process) resulting in the selection of a course of action among several alternatives. Every decision making process produces a final choice. The output can be an action or an opinion of choice.

Negotiation

Negotiation is a dialogue between two or more people or parties, intended to reach an understanding, resolve point of difference, or gain advantage in outcome of dialogue, to produce an agreement upon courses of action, to bargain for individual or collective advantage, to craft outcomes to satisfy various interests of two person/ parties involved in negotiation process. Negotiation is a process where each party involved in negotiating tries to gain an advantage for themselves by the end of the process. Negotiation is intended to aim at compromise.

Management Consulting

Management consulting indicates both the industry and practice of helping organizations improve their performance primarily through the analysis of existing business problems and development of plans for improvement. Organizations hire the services of management consultants for a number of reasons, including gaining external (and presumably objective) advice and access to the consultants' specialized expertise. Because of their exposure to and relationships with numerous organizations, consulting firms are also said to be aware of industry 'best practices', although the transferability of such practices from one organization to another may be problematic depending on the situation under consideration.

Performance Management

Performance management includes activities that ensure that goals are consistently being met in an effective and efficient manner. Performance management can focus on the performance of an organization, a department, employee, or even the processes to build a product or service, as well as many other areas. Performance management as referenced on this page is a broad term coined by Dr. Aubrey Daniels in the late 1970s to describe a technology (i.e. science imbedded in applications methods) for managing behavior and results, two critical elements of what is known as performance.

Senior Management

Senior management, executive management, or management team is generally a team of individuals at the highest level of organizational management who have the day-to-day responsibilities of managing a company or corporation; they hold specific executive powers conferred onto them with and by authority of the board of directors and/or the shareholders. There are most often higher levels of responsibility, such as a board of directors and those who own the company (shareholders), but they focus on managing the senior or executive management instead of the day-to-day activities of the business. In Project Management, senior management is responsible for authorizing the funding of projects. They are sometimes referred to, within corporations, as executive management, top management, upper management, higher management, or simply seniors.