Mgt 3303 Chapter 16

Front 1

productivity

Back 1

output/input

Front 2

enterprise resource planning

Back 2

software systems, information systems for integrating virtually all aspects of a business

Front 3

controlling

Back 3

monitoring performance, comparing it with goals, and taking corrective action as needed; it is the fourth management function along with planning, organizing, and leading

Front 4

control process steps

Back 4

the steps are established standards, measure performance, compare performance to standards, and take corrective action

Front 5

control standard

Back 5

the desired performance level for a given goal

Front 6

management by exception

Back 6

a control principle that states that managers should be informed of a situation only if data show a significant deviation from standards

Front 7

strategic control

Back 7

monitoring performance to ensure that strategic plans are being implemented and taking corrective action as needed

Front 8

tactical control

Back 8

monitoring performance to ensure that tactical plans- those at the divisional or departmental level- are being implemented and taking corrective action as needed

Front 9

operational control

Back 9

monitoring performance to ensure that operational plans dat to dat goals are being implemented and taking corrective action as needed

Front 10

enterprise resource planning

Back 10

software systems, information systems for integrating virtually all aspects of a business

Front 11

bureaucratic control

Back 11

an approach to organizational control that is characterized by use of rules, regulations, and formal authority to guide performance

Front 12

controlling

Back 12

monitoring performance, comparing it with goals, and taking corrective action as needed; it is the fourth management function along with planning, organizing, and leading

Front 13

control process steps

Back 13

the steps are established standards, measure performance, compare performance to standards, and take corrective action

Front 14

decentralized control

Back 14

an approach to organizational control that is characterized by informal and organic structural arrangements

Front 15

control standard

Back 15

the desired performance level for a given goal

Front 16

management by exception

Back 16

a control principle that states that managers should be informed of a situation only if data show a significant deviation from standards

Front 17

strategic control

Back 17

monitoring performance to ensure that strategic plans are being implemented and taking corrective action as needed

Front 18

tactical control

Back 18

monitoring performance to ensure that tactical plans- those at the divisional or departmental level- are being implemented and taking corrective action as needed

Front 19

operational control

Back 19

monitoring performance to ensure that operational plans dat to dat goals are being implemented and taking corrective action as needed

Front 20

bureaucratic control

Back 20

an approach to organizational control that is characterized by use of rules, regulations, and formal authority to guide performance

Front 21

decentralized control

Back 21

an approach to organizational control that is characterized by informal and organic structural arrangements

Front 22

balance scorecard

Back 22

gives top managers a fast but comprehensive view of the organization via four indicators: internal processes, innovation and improvement activities, and financial measures

Front 23

strategy map

Back 23

visual representation of the four perspectives of the balanced scorecard that enables managers to communicate their goals so that everyone in the company can understand how their jobs are linked to the overall objectives of the organization

Front 24

budget

Back 24

formal financial projection

Front 25

incremental budgeting

Back 25

allocates increased or decreased funds to a department by using the last budget period as a reference point;only incremental changes in the budget request are reviewed

Front 26

fixed budget

Back 26

allocates resources on the basis of a single estimate of costs

Front 27

variable budget

Back 27

allows the allocation of resources to vary in proportion with various levels of activity

Front 28

financial statement

Back 28

summary of some aspect of an organizations financial status

Front 29

balance sheet

Back 29

summarizes an organizations financial results worth assets equal liabilities plus stockholders equity

Front 30

income statement

Back 30

summarizes an organizations financial results- revenues and expenses

Front 31

ratio analysis

Back 31

the practice of evaluating financial results

Front 32

audit

Back 32

formal verification of an organizations financial and operational systems

Front 33

external audit

Back 33

verification of an organizations financial accounts and statements by outside experts

Front 34

internal audit

Back 34

verification of an organizations financial accounts and statements by the organization's own professional staff

Front 35

deming management

Back 35

proposed ideas for making organizations more responsive, more democratic, and less wasteful

Front 36

Top Quality Management

Back 36

a comprehensive approach, led by top management and supported throught the organization, dedicated to continuous quality improvement, training, and customer satisfaction