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90 Cards in this Set

  • Front
  • Back


tool that helps managers use information to influence behavior and affect operational performance through greater efficiencies and effective decision making

Lack of control

can lead to demise of the organization


models and examples of how items or tasks are expected to be executed

Preliminary control (planning control)

control used as a preventative measure to clarify potential deficiencies before they occur

Screening control

control used to take corrective measures based on feedback during a process, should barriers arise

Post-action control

control used to assess results after a process is complete in order to provide information for future planning


Chief accounting officer within an organization that helps control finances

Financial statement

summary that lists the revenue and liabilities for a company during a particular time frame

Balance sheet

lists revenues, assets, and liabilities for a company during a particular time frame

Income statement

summary of income gained during a specific time period, usually listed by month

Ratio analysis

quantitative study of a company's financial statements within a particular collection of data


formal examination of a company, department, or individual's accounts or financial standing


document used to predict revenues and expenditures during a certain period for financial forecasting

Information Technology

Development, maintenance, and use of computer systems, software, and networks for the processing and distribution of data


information gained by an individual or team that is internalized

Knowledge worker

employees who are known for the specific skills they possess, such as technology


software program designed to protect against unauthorized entry into a particular information system or personal computer


system that is similar to the internet but used primarily within a company for its employees or vendors

Management information system

tool that aids organizations to run more efficiently by incorporating people, technology, and information systematically







ERP helps

show how one action carried out by one area can affect another part of the organization

Executive support system (ESS)

MIS that uses internal and external data to aid executive staff with their decision-making process

Executives can view data instantly

Decision support system (DSS)

Computer based IS that helps organizations with decision making process

Artificial intelligence

software system that gives computers the ability to seemingly possess human intelligence and act accordingly to process information

Performance development

managers examine the interconnected parts of the organization to understand the importance of each and the contribution it makes


building designed and built to support a particular service or function


design of space in an organization that specifies workflow

Facilities layout

location and operational capacity

Operations management

processes and systems built to assist in the daily activities of production


implementation of manufacturing through an electronic device that does not need continual operations support

Product-service mix

combination of the number of products provided versus the services delivered


process where large goods are made, typically by manual labor or large machinery

Lean manufacturing

implementation of best practices to eliminate inefficiencies and waste while increasing profits

Main principles of lean manufacturing

flexible and up-to-date technology

educating employees

training employees

instilling a sense of commitment

shifting cultural values and embracing the model


items and quantity in stock typically held in a warehouse or one designated area

Just-in-time method (JIT)

production method that provides an item as needed vs. keeping inventory in stock

Supply chain management

network of interconnected businesses strategically aligned to provide product and service packages

Dynamic Steering

process where an organization engages in incremental adaptation based on real-time feedback to push toward better engagement and overall productivity

Dynamic Steering Cycle

The idea

The deal

The collaboration

The leadership

The results

Achieving results through talent management

selection and recruitment


building an emotional connection

Goal allignment

Candid conversations

Honest appraisals



accurately rate employee performance based on specific behaviors relating to particular role

Career development

provide additional training for employees who express an interest in oving into different roles

Compassion for all

Employees must care for one another in order to bring goals to fruition

Most important point


measure of product or service minus the amounts of defects

Total quality management

strive for long term solutions

big picture

customer is the main priority

improves service, quality, and productivity

4 TQM tools

Value added analysis



Cycle Time

Value-added analysis

element that provides a core study of an item or process down to its raw costs vs. measurement to provide the most effective product or service

-Helps to identify and eliminate waste


information provided to mark a norm on the measurement scale of a product or service in the same vertical market

-Learn from competitors


occurs when the delivery or a product or service becomes valued as more profitable by using outside resources

Cycle Time

length of time it takes to perform a function or task from beginning to end

Six Sigma

business management strategy designed to analyze the causes of defects using statistical methods

ISO 9000:2000

standard from ISO which provides an exact measure of quality globally over a platform of systems

ISO 1 4000

ISO standard focuses totally on the organization's environmental impact and quality

Malcolm Baldrige award

annual prize that recognizes performance excellence in U.S. companies and nonprofit organizations

based on continuous improvement


individual that plans, organizes, and leads high-risk business opportunities with new market value


process that results in new market value through the creation of a product or service

Innovation adoption curve

staged model that describes the evolution of an innovation's acceptance with three types of customers

Types of customers, innovation adoption curve

Innovators 2%

Early adopters 14%

Early majority 34%

Late majority 34%

Laggards 16%

start up company

newly formed organization with limited or no operational history


activities associated with seeking new opportunities that generate new value, with an array of unknown forces

Business model

proposed method for creating and sustaining market value

Venture Capital

Funding that supports the starting and growing of high-risk business ventures

Entrepreneurial ecosystem

set of stakeholders that are necessary to support the innovation and creation of new market value

Growth accelerants

market opportunity/customers/competitors

Human resources/people/organizational culture


Market opportunity/customers/competitors

identify gap in the market

Attract diverse customers

Become a serious competitor to other businesses

Human resources/people/organizational culture

attract and nurture the best talent


innovative product

unparalleled sales and after-sales service

Challenges to growth

struggle to attract and retain new talent

People must fit into the organization culture

Another company may identify and capture the market sooner

Liquidity and financing


measurement of available financial resources or the ability to convert an organization's assets into cash

Market size

large markets have greater growth potential

Value creation

activities and processes that increase the worth of a product or service

Market value capture and business model

business model should address how much value of the market can be captured

Management team/people/resources

evaluation of abilities necessary to produce success


degree to which a company or business model can grow, given the necessary resources

Initial public offering

first time a company sells its equity shares on the stock market

Government/political/regulatory opportunities and risks for new ventures

effect of regulatory environment on potential for growth

Execution and scaling opportunities and risks for new ventures

in order to execute the system ASAP, secure clients, choose a location, and get finances

Aggregation venture strategy

business strategy defined by acquiring, merging, and coordinating existing market products, services, and companies

Discovery venture

business strategy that seeks to invent a brand new product or service or find a new resource

New-existing venture

business strategy defined by offering a new product or service to an existing category or consumers

New-new venture

business strategy defined by offering a new category of consumers a new product or service

higher risk, higher return

System change venture

business model responding to a significant change in political environments, governmental legislation, and regulation

Transplant venture

business strategy where an idea that achieves market success in one market region is transferred to other geographic markets

Value chain venture

business model that seeks to redesign or augment an offering in an existing business or management process

Wave venture

business model defined by a systematic change in business and market environments


science filled with thought processes that we are all capable of when working with the right people


concepts that create, nurture, and support other concepts

Creativity Flow

experience of immersion and loss of time when an individual achieves an optimum balance of challenge, interest, and achievement

Eight condition of flow in the workplace

clear goals

immediate feedback

balance between opportunity and capacity


living in the present

personal control

altered sense of time

loss of ego


measurement that determines the optimum level of group size and interaction to achieve successful creative output