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23 Cards in this Set

  • Front
  • Back
Management Control System
A logical integration of techniques for gathering and using information to make planning and control decisions, for motivating employee behavior, and for evaluating performance
Key Success Factor
Characteristics or attributes that managers must achieve in order to drive the organization toward its goals
Responsibility Center
A set of activities and resources assigned to a manager, a group of managers, or other employees
Responsibility Accounting
Identifying what parts of the organization have primary responsibility for each action, developing performance measures and targets, and designing reports of these measures by responsibility center
Cost Center
A responsibility center in which managers are responsibile for costs only
Profit Center
A responsibility center in which managers are responsible for revenues as well as costs (or expenses) - that is, profitability
Investment Center
A responsibility center whose success depends on both income and invested capital, perhaps measured by a ratio of income to the value of the capital employed
Goal Congruence
A condition where employees, working in their own personal interests, make decisions that help meet the overall goals of the organization
Managerial Effort
Exertion toward a goal or objective including all conscious actions (such as supervising, planning, and thinking) that result in more efficiency and effectiveness
The drive for some selected goal that creates effort and action toward that goal
Uncontrollable Cost
Any cost that the management of a responsibility center cannot affect within a given time span
Controllable Cost
Any cost that a manager's decisions and actions can influence
Responsibility centers for which a company develops separate measures of revenues and costs
Balanced Scorecard
A performance measurement and reporting system that strikes a balance between financial and operating measures, links performance to rewards, and gives explicit recognition to the diversity of organizational goals
Key Performance Indicators
Measures that drive the organization to achieve its goals
Quality Control
The effort to ensure that products and services perform to customer requirements
Cost of Qualtiy Report
A report that displays the financial impact of quality
Total Quality Management (TQM)
An approach to quality that focuses on prevention of defects and on customer satisfaction
Quality-Control Chart
The statistical plot of measures of various product dimensions or attributes
Six Sigma
An analytical method aimed at achieving near-perfect results on a production line
Cycle Time (Throughput Time)
The time taken to complete a product or service, or any of the components of a product or service
A measure of outputs divided by inputs
Throughput Time
The time taken to complete a product or service, or any of the components of a product or service