Glossary - Business Decision Making - ثاني ثانوي

Glossary 5 whys A problem-solving approach that involves looking at a problem and asking "why?" or "what was the cause of this situation?" at least five times. Action plan A plan that summarizes the activities the group and other members of the organization agree to perform to make sure the project succeeds. Adaptive techniques An alternative method for solving problems. Instead of gathering data, analyzing it, and exploring alternatives systematically, most adaptive techniques involve a combination of intuition, logic, and common sense. Agenda An outline or a list of topics that will be discussed during the meeting. Agility The ability and willingness to adapt to what's happening around you and go "above and beyond" to ensure that tasks are completed on time and to a high standard. Analytical reports A type of report that presents data, analysis, and a conclusion by providing different options, identifying pros and cons for alternatives, and including specific recommendations. Argument (1) A set of one or more claims that supports a particular conclusion. (2) A value or cell reference that a function uses in its calculations. Arithmetic mean The value of a set of data that is usually referred to as the average. The mean is a single value and describes the data in general by showing its central tendency. Assumption A proposition or claim that is taken for granted as though it were known to be valid. Autosum Function in a spreadsheet that lets you calculate sums, the average, the number of items, or the maximum or minimum value of a range. Benefits What an organization, it's employees, customers, or stakeholders gain from the production of an item or the provision of a service. Blog An interactive online journal. Short for Weblog. Brainstorming A creativity tool for generating ideas and alternatives. A brainstorming session usually starts by defining a problem, and then listing possible solutions as they occur to you, whether they are obvious, impractical, or far-fetched. The goal is quantity, not quality. Business ethics A collection of principles and rules that define right and wrong conduct for an organization. Cause The reason for or the origin (root) of a change, such as customers being unable to afford travel vacations. Cell The intersection of a row and a column in a spreadsheet. Cell reference The combination of column letter and row number that identifies a cell on a worksheet. Channel The medium by which a message is sent, such as a phone call, blog, or text message. Channel richness The amount of information that can be transmitted during a communication episode. Chart Information in the form of a table, graph, or diagram. Claim A statement that someone says or writes about a topic. Cluster sampling Involves dividing the population of interest into non-overlapping subgroups, or clusters, and clusters are then selected at random. Collaboration Collaboration is similar to cooperation, but the achievement is shared between all parties. Collective wisdom The shared knowledge and experience a group of people can apply to a problem. Command-and-control The process by which information is exchanged and understood by two or more people, usually with the intent to influence or motivate behavior. Communication climate The social tone of a relationship. How people interact with each other within their relationships. Conflict An antagonistic interaction in which one party attempts to block the intentions or goals of another. Confounding variable A variable that is related to both how the experimental groups were formed and the response variable of interest. Constant A data point in a DSS that is known in advance and will not change, or that the decision maker has no influence over. For example, Lease Payments—these are already established and so are a constant for the purposes of the decision. Continuous data Data that can take any value, such as height, weight, temperature. Convenience sampling Using an easily available or convenient group to form a sample. Convergent thinking Thought processes or methods that narrow options to a manageable set. Cooperation The act of working together to achieve something for the benefit of one or more of the parties involved. Costs The value of what an organization spends, in time, money or both, to produce an item, provide a service, or carry out an item of work. 508 Glossary Ministry of Education 2024-1446 Business Decision Making S1 S2 S3.indb 508 30/06/2023 14:29

Critical thinking The thoughtful, deliberate process of deciding whether you should accept, reject, or reserve judgment about a particular idea. The goal of critical thinking is often to improve choices and reduce the risk of adopting or acting on a flawed assumption. . Divergent thinking Thought processes or methods used to • • generate ideas. Downward communication channel Refers to messages sent from top management down to subordinates. Cross-functional team A team made up of employees from about Electronic brainstorming A technique that brings people the same hierarchical level, but from different areas of expertise. Crowdsourcing A way of using groups to solve problems. The groups are usually online communities, such as members of a blog or visitors to a Web site, called a crowd. An organization broadcasts a problem to the crowd as an open call for solutions. The crowd submits solutions, and then the organization sorts through them, finding the best ones. The organization selects and owns the ultimate solution, and sometimes rewards members of the crowd. Culture The customs, beliefs, values, and patterns of behavior of the people of a country or organization. Dashboa ashboard A window that graphically summarizes information about how a business is operating. Data A collection of uninterpreted information Data analysis The different methods used to interpret data. Debt An amount of money that is due from a loan. Decentralized network A communication structure in which team members freely communicate with one another and arrive at decisions together. Decision A choice you make when faced with a set of options or alternatives. Decision balance sheet A formal way of organizing an idea's costs and benefits. Decision maker A person within a business, often in management, who is responsible for making key decisions or assigning tasks to employees. Decision model One or more formulas that includes all of the relevant variables and calculates a result. Decision support system (DSS) Interactive software designed to help you compile useful information from raw data, documents, and business knowledge. Decision tree A support tool that models decisions using a tree- like diagram. Each branch of the tree represents a different option and its associated benefits, costs, and likelihood. Decode To interpret a message or understand it. Delphi method A structured technique involving stages of individual input from members of an expert group, followed by evaluation, then more individual input based on this evaluation, until a resolution is reached. Deviations from the mean The n deviations from the sample mean are the differences (x₁ − x), (×₂ − x), . ... / (x - x) Discrete data Where values are whole; or yes/no. Distributive negotiation A competitive and adversarial approach in which each party strives to get as much as it can, usually at the ...expense of the other party. • • • • • • • • • together in an interactive group over a computer network rather than meeting face to face. Encoding Selecting symbols with which to compose a message and selecting a communication channel. Evaluation criteria The variables that drive . • • decisions. your Executive management A top-level manager who spends almost all of his or her time on management functions and decisions that affect the entire company. Experiment A study that investigates how a response variable behaves when one or more explanatory variables are manipulated. The goal is to determine the effect of the explanatory variables on the response variable. Extension case A way of modeling based on reasonable, informed speculation and prediction. External proposals A proposal written for an audience that is outside of your organization. Fact A claim that is considered to be true. Factual matter A claim about which you can collect and analyze data. This term suggests that you are not certain the claim is a • • fact, but could prove or disprove if necessary. ⚫ Fatal flaw An aspect of an idea that would make it unacceptable • • • • . • • • for some reason. • • • • • Feedback The response of the reader to the sender's communication with a return message. Fishbone diagram A diagram, which looks like the skeleton of a fish, showing the causes that contribute to a problem. Forecast A way to predict a future outcome, using relevant data to inform your prediction. Formal communications channel A communication channel that flows within the chain of command or task responsibility defined by the organization. Formula A mathematical expression of a calculation that your spreadsheet software will complete for you. Function The purpose or objective of a particular job or group of jobs carried out by a team. Function (for spreadsheets) A pre-defined set of formulas that work together to calculate a commonly-used operation. For example, Average(), to calculate the mean of a set of values. The function is much simpler than using all of the individual formulas that would be required to find the average. Functional team A team composed of a manager and his or her subordinates in the formal chain of command. وزارة التعليم Ministry of Education 2024-1446 Business Decision Making S1 S2 S3.indb 509 Glossary 509 30/06/2023 14:29

Global team A group made up of employees who come from, and whose activities span, multiple countries. Grapevine Carries workplace gossip, a dominant force in workplace communication when official channels are not functioning effectively. Gross margin The amount of money a company retains after incurring the direct costs associated with producing the goods it sells and the services it provides. The higher the gross margin, the more capital a company retains, which it can then use to pay other costs or satisfy debt obligations. Group Two or more people who interact with each other, share expectations and obligations, and develop a common identity as a group. Group dynamics The way that people work and interact with each other. Groupthink When groups become so cohesive that the members minimize conflict and support consensus without critically considering the merits of ideas and decisions. Hashtag A slogan or phrase—with no spaces between the words-attached to a post so that users can find related information quickly. Heterogeneous team A diverse team made up of members with a variety of skills, knowledge, experience, and social backgrounds. Hierarchy A system of organizing people into different ranks or levels of importance, for example, in society or in a company. Homogeneous team A team made up of people with the same types of skills, knowledge, experience, and social backgrounds. IF IF statement An IF statement is a programming conditional statement that, if proved true, performs a function or displays information. Impact analysis A way of evaluating the effects of an idea or alternative. Information Data that has been organized, analyzed, or visualized in a way that makes it more valuable. Informational reports A type of report that presents information in a clear, objective format, and is appropriate when you want to provide a written summary of a subject for your reader. Innovative technique A problem-solving approach involving a new idea, or a new implementation of an existing idea. Input variable A data point that the decision maker can change or influence. For example, the quantity of raw materials purchased, etc. Instant messaging (IM) A technology that involves. communication between two people who type text messages to one another using a computer, mobile phone, or other device connected to the Internet. Integrative negotiation A collaborative approach, whereby the parties want to come up with a creative solution that benefits both sides of the conflict. Internal proposals A type of proposal that recommends how to solve problems within an organization. Interquartile range (IQR) A measure of variability that is not as sensitive to the presence of outliers as the standard deviation. The IQR is calculated as IQR = upper quartile - lower quartile Intuition Your knowledge of something without having to discover or learn it; typically your first reaction to a problem or question. When you solve a problem intuitively, you react immediately and instinctively, without following a particular procedure. Issue Any challenging subject that you discuss, dispute, or review. An issue is different from a simple topic of conversation because it raises questions or concerns. Jargon Jargon The special words or expressions used by a profession or group that are difficult for others to understand. Key Performance Indicator (KPI) A measure used to evaluate the success of an organization in achieving its planned objectives. Leadership The ability to influence individuals and groups to cooperatively achieve common goals. Listening The skill of understanding both facts and feelings to interpret a message's genuine meaning. Lower quartile Median of the lower half of the sample. Market momentum effect The expectation that, once a trend has been established, the market will move in the same general direction-only the rate will change. Mashup A Web application that combines features or information from more than one source. Measure of center A summary measure that attempts to describe a whole set of data with a single value that represents the middle or center of its distribution. Median The value of a set of data that separates the higher values from the lower values. Meetings Three or more people get together at a common time to discuss, debate, decide, plan, and solve problems related to a company goal. Message The information sent from one person to another by the use of speech, writing, actions, or symbols. A message is the content of the communication process. Microblog A very short way of conveying information in real time, often used to engage with consumers or provide live updates. Mode The value in a set of data that occurs most frequently. The mode does not have to be a unique number. Model (n.) A collection of information that shows how an organisation is working, or could be working in the future; (v.) to produce such a collection of information. 510 Glossary Ministry of Education 2024-1446 Business Decision Making S1 S2 S3.indb 510 30/06/2023 14:29

Negative egative correlation Also called an "inverse relationship"; two related variables move in opposite directions. For example, a higher number of school absences will likely result in lower grades. Negotiation A conflict management strategy whereby people engage in give-and-take discussions and consider various alternatives to reach a joint decision that is acceptable to both parties. Networking The process of interacting with others to exchange information and develop professional or social contact. Nominal group technique (NGT) A structured approach to brainstorming, in which all participate in generating ideas which are ranked and voted on to reach a quick decision. Nonverbal (communication) Messages sent through human actions and behavior rather than through words. Normalization A way to make all of the data consistent with your decision model. Observa bservational study A study in which characteristics of a sample selected from one or more existing populations are observed. The goal is to draw conclusions about the corresponding population or about differences between two or more populations. Open communication Sharing all types of information throughout the organization and across functional and hierarchical boundaries. Opinion A claim that someone believes is true. Optimism The belief or hope that things that happen in the future will be good, positive, and useful. Optimization A continuous process of identifying the best possible outcomes given a particular set of inputs and constraints. Ordinal scale Where data is organized in a particular order or sequence. Organizational memory The history and culture that a group must function in, including the various processes, personalities, and subtleties of how the organization operates. Organizational problem A problem within a business or organization which affects many different departments. Organizational structure The structure of an organization, explaining job classifications, and the reporting of relationships among the organization's personnel. Outlier A piece of data in a set that is much larger or smaller than the other values in the data set, or an experience that is extremely good or bad. Output variable A value in the results that could change if the decision variables change. Pareto principle Also called the 80/20 law, the Pareto principle states that 80% of outcomes come from 20% of causes. Pecking order A hierarchy; the organization of people at different ranks in an administrative body. • • • • • • • • • • • • • Pension A regular payment received by retired people to support living costs. Personal communication channels Channels that exist outside formally authorized channels and connect people across boundaries for sharing information and accomplishing tasks. Personal networks Acquiring and cultivating personal relationships that cross departmental, hierarchical, and even organizational boundaries. Pessimism The opposite of optimism; the belief that events in the future will be bad, unhelpful, and negative. Pie chart A graph of a frequency distribution for a categorical data set. Each category is represented by a slice of the pie, and the area of the slice is proportional to the corresponding frequency or relative frequency. Population Any finite or infinite collection of items under discussion. Positive correlation A relationship between two variables that . move in the same direction, like a person's height and weight. • . Premise What you claim or contend. • • Problem In an organization, an obstacle that stands in the way of achieving a desired goal. In short, a problem is the difference between the current state and where you want to be. Problem owner The person who has a problem that needs to be solved. Problem statement A clear, concise description of the problem and the effect you expect from the solution. Professional networking Practices for creating and cultivating business friendships. Proposal A written document designed to persuade and inform. A proposal provides information about a produce, service, or idea and tries to convince the reader to adopt the recommended solution. Range The range of a data set is defined as Range = Largest Value Smallest Value. - Relationships conflict Conflict that results from interpersonal incompatibility that creates tension and personal animosity among people. Report A written document designed to communicate information about a particular subject. Reports are written objectively, though some can include analysis or recommendations. Risk An exposure to a chance of loss or damage. • • Root-cause analysis A study that determines the real basis for the problems that you solve. Sample mean The sample mean of a sample consisting of ... 1 n numerical observations x₁, X, ✗ is denoted by x, and its formula is given by sum of all observations in the sample number of observations in the sample ×₁ + x2 + ... + X = n = Σχ n وزارة التعليم Ministry of Education 2024-1446 Business Decision Making S1 S2 S3.indb 511 Glossary 511 30/06/2023 14:29

Sample median The sample median is obtained by first ordering the n observations from smallest to largest (with any repeated values: included, so that every sample observation appears in the ordered list). Then sample median = the single middle value if n is odd, the average of the middle two values if n is even. Sample standard deviation The sample standard deviation is the positive square root of the sample variance and is denoted by s. Sample variance The sample variance, denoted by s², is the sum of: squared deviations from the mean divided by n − 1. That is, s² = Σ(x-x)² n-1 - Scenario A set of values that collectively represent a particular situation in a spreadsheet that can be saved and then used for modeling the outcomes of business decisions. (For example: higher or lower profits). Self-managed team A team consisting of multiskilled employees who rotate jobs to produce an entire product or service, often led by an elected team member. Simple random sample A sample chosen using a method that ensures that each different possible sample of the desired size has an equal chance of being chosen. Shared resource A component part of a product, or something needed to make a product, that is also a part or is used in the production of another product. Social conditioning Conditioning that encourages you to accept the traditions and values of your social group. Social conditioning helps you feel part of the greater whole, but it can also prevent you from considering unpopular alternatives. Social facilitation The tendency for the presence of other people to influence an individual's motivation and performance. Social media A group of Internet based applications that allow the creation and exchange of user generated content. Social network Virtual community that allows users to post information about themselves and share that information with others. Special-purpose team A team created outside the formal structure to undertake a project of special importance, such as developing a new product. Systematic Doing something such as solving a problem in a methodical and organized manner. Systematic problem solving takes a reasoned, rational approach and is appropriate for larger, more complicated problems or situations that involve a lot of risk. Systematic sampling A way to randomly select a sample from a population to avoid sampling error. Systematic technique Systematic techniques rely on existing practices, information, and strategies, using data and rigorous planning to resolve problems. Tacit culture The customs, beliefs, values, and patterns of behavior of the people of a country or organization. Task conflict Conflict that results from disagreements about the goals to be achieved or the content of the tasks to be performed. Team Unit of two or more people who interact and coordinate their work to accomplish a goal to which they are committed and hold themselves mutually accountable. Three-pile method A technique for reducing ideas to a manageable number. Upper quartile Median of the upper half of the sample (if n is odd, the median of the entire sample is excluded from both halves when calculating quartiles). Upward communication channel Includes messages that flow from the lower to the higher levels in the organization's hierarchy. Variability ariability The extent to which individual data elements in the data set are different from one another. Variable Any characteristic (of a population) whose value may change from one individual to another. Virtual team A team made up of members who are geographically or organizationally dispersed, rarely meet face to face, and interact to accomplish their work primarily using advanced information and telecommunications technologies. Voluntary response sampling A form of convenience sampling. Relies on individuals who volunteer to be part of the sample, e.g., by completing an online survey. Spreadsheet An electronic file used to arrange data in a grid, which Wiki A Web site that many users can contribute to by creating can then be used in calculations. Stakeholder A person who is affected by a problem or decision, or whose involvement you need to resolve the matter. Standard deviation A measure of the variability of a set of data. Statistics The collection and analysis of numerical data. Symbol An object, act, or event that conveys meaning to others. Symptom Evidence of a change, such as a decrease in revenue. Synergy When two or more people work together to produce something greater than the sum of their individual efforts. Syntax In Excel, syntax is the layout of a function. Functions need to be presented precisely or they will not work. and editing the content. Weighted average In a weighted average, each data point value is multiplied by the assigned weight, which is then summed and divided by the number of data points. Worksheet The basic element of a spreadsheet, made up of rows and columns. Worst-case scenario A situation or conclusion that could not be any worse; the worst possible outcome. 512 Glossary Ministry of Education 2024-1446 Business Decision Making S1 S2 S3.indb 512 30/06/2023 14:29