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70 Cards in this Set

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  • Back

Management Process

The application of planning, organizing, staffing, leading, and controlling to the achievement of objectives.


Economic activities that typically produce an intangible product (such as education, entertainment, lodging, government, financial, and health services.

Service sector

The segment of the economy that includes trade, financial, lodging, education, legal, medical, and other professional occupations.


The ratio of outputs (goods and services) divided by one or more inputs (such as labor, capital, or management).

Single- factor productivity

Indicates the ratio of one resource (input) to the goods and services produced (outputs).

Multifactor productivity

Indicates the ratio of many or all resources (inputs) to the goods and services produced (output)

Productivity variables

The three factors critical to productivity improvement capital, and the art and science of management.

Knowledge society

A society in which much of the labor force has migrated from manual work to work based on knowledge.


Mexican factories located along the U.S.- Mexico border that receive preferential tariff treatment

World trade organization

An international organization that promotes world trade by lowering barriers to the free flow of goods across the border.


A free trade agreement between Canada, Mexico, and the U.S.

European Union

A European trade group that has 27 member states.


The purpose or rationale for an organization's existence.


How an organization expects to achieve its missions and goals.

Competitive advantage

The creation of a unique advantage over competitors.


Distinguishing the offerings of an organization in a way that the customer perceives as adding value.

Experience differentiation

Engaging a customer with a product through imaginative use of the five senses, so the customer "experiences" the product.

Low-cost leadership

Achieving maximum value, as perceived by the customer.


A set if values related to rapid, flexible, and reliable performance.

Operations decisions

The strategic decisions of OM are goods and service design, quality, process and capacity design, location selection, layout design, human resources and job design, supply chain management, inventory, scheduling, and maintenance.

Resources view

A method managers use to evaluate the resources at the disposal and manage or alter them to achieve competitive advantage.

Value-chain analysis

A way to identify those elements in the product/service chain that uniquely add value.

Five forces model

A method of analyzing the five forces in the competitive environment.

SWOT analysis

A method of determining internal strengths and weaknesses and external opportunities and threats.

Key success factors (KSFs)

Activities or factors that are key to achieving competitive advantage.

Core Competencies

A set of skills, talents, and activities in which a firm is particularly strong.

Activity map

A graphical link of competitive advantage, KSFs, and supporting activities.

International business

A firm that engages in cross-border transactions.

Multinational corporation

A firm that has extensive involvement in international business, owning or controlling facilities in more than one country.

International strategy

A strategy in which global markets are penetrated using exports and licenses.

Multidomestic strategy

A strategy in which operating decisions are decentralized to each country to enhance local responsiveness.

global strategy

a strategy in which operating decisions are centralized and headquarters coordinates the standardization and learning between facilities.

transnational strategy

a strategy that combines the benefits of global-scale efficiencies with the benefits of local responsiveness

Project organization

An organization formed to ensure that programs (projects) receive the proper management and attention.

Work breakdown structure

A hierarchical description of a project into more and more detailed components.

Gantt Chart

Planning charts used to schedule resources and allocate time

Program evaluation and review technique

A project management technique that employs three time estimates for each activity.

Critical path method

A project management technique that uses only one time factor per activity

Critical path

The computed longest time path(s) through a network.


A network diagram in which nodes designate activities


A network diagram in which arrows designate activities.

Dummy activity

An activity having no time that is inserted into a network to maintain the logic of the network.

Critical path analysis

A process to find the most effective sequence of activities that helps determine a project schedule.

Forward pass

A process that identifies all the early times

Backward pass

An activity that finds all the late start and late finish times.

Slack time

Free time for an activity

Total slack

Time shared among more than one activity


The ability of a product or service to meet customer needs

Cost of quality

The cost of doing things wrong- that is, the price of non conformance

ISO 9000

A set if quality standards developed by the international Organization for standardization.

Total quality management

Management of an entire organization so that it excels in all aspects of products and services that are important to the customer.


A continuous improvement model of plan, do, check, act.

Six Sigma

A program to save time, improve quality, and lower costs.

Employee empowerment

enlarging employee jobs so that the added responsibility and authority is moved to the lowest level possible in the organization.

Quality circle

A group of employees meeting regularly with a facilitators to solve work-related problems in their work area.


Selecting a demonstrated standard of performance that represents the very best performance for a process or an activity

Quality robust

Products that are consistently built to meet customer needs in spite of adverse conditions in the production process

Quality loss function

A mathematical function that identifies all costs connected with poor quality and shows how these costs increase as product quality moves from what the customer wants.

Target oriented quality

A philosophy of continuous improvement to bring a product exactly on target

Cause and effect diagram

A schematic technique used to discover possible locations of quality problems

Pareto charts

Graphics that identify the few critical items as opposed to many less important ones


Block diagrams that graphically describe a process or system

Statistical process control

A process used to monitor standards, make measurements, and take corrective action as a product or service is being produced

control charts

graphic presentations of process data over time, with predetermined control limits


a means of ensuring that an operation is producing at the quality level expected

Source inspection

Controlling or monitoring at the point of production or purchase at the source


Literally translated, "foolproof"; it has come to mean a device or technique that ensures the production of good unit every time.

attribute inspection

an inspection that classifies items as being either good or defective

variable inspection

classifications of inspected items as falling on a continuum scale, such as dimension or strength

Service recovery

training and empowering front line workers to solve a problem