Bmgt Test

Front 1

Management Process

Back 1

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

Front 2

Services

Back 2

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

Front 3

Service sector

Back 3

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

Front 4

Productivity

Back 4

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

Front 5

Single- factor productivity

Back 5

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

Front 6

Multifactor productivity

Back 6

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

Front 7

Productivity variables

Back 7

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

Front 8

Knowledge society

Back 8

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

Front 9

Maquiladoras

Back 9

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

Front 10

World trade organization

Back 10

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

Front 11

NAFTA

Back 11

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

Front 12

European Union

Back 12

A European trade group that has 27 member states.

Front 13

Mission

Back 13

The purpose or rationale for an organization's existence.

Front 14

Strategy

Back 14

How an organization expects to achieve its missions and goals.

Front 15

Competitive advantage

Back 15

The creation of a unique advantage over competitors.

Front 16

Differentiation

Back 16

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

Front 17

Experience differentiation

Back 17

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

Front 18

Low-cost leadership

Back 18

Achieving maximum value, as perceived by the customer.

Front 19

Response

Back 19

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

Front 20

Operations decisions

Back 20

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.

Front 21

Resources view

Back 21

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

Front 22

Value-chain analysis

Back 22

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

Front 23

Five forces model

Back 23

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

Front 24

SWOT analysis

Back 24

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

Front 25

Key success factors (KSFs)

Back 25

Activities or factors that are key to achieving competitive advantage.

Front 26

Core Competencies

Back 26

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

Front 27

Activity map

Back 27

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

Front 28

International business

Back 28

A firm that engages in cross-border transactions.

Front 29

Multinational corporation

Back 29

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

Front 30

International strategy

Back 30

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

Front 31

Multidomestic strategy

Back 31

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

Front 32

global strategy

Back 32

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

Front 33

transnational strategy

Back 33

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

Front 34

Project organization

Back 34

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

Front 35

Work breakdown structure

Back 35

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

Front 36

Gantt Chart

Back 36

Planning charts used to schedule resources and allocate time

Front 37

Program evaluation and review technique

Back 37

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

Front 38

Critical path method

Back 38

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

Front 39

Critical path

Back 39

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

Front 40

Activity-on-node

Back 40

A network diagram in which nodes designate activities

Front 41

Activity-on-arrow

Back 41

A network diagram in which arrows designate activities.

Front 42

Dummy activity

Back 42

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

Front 43

Critical path analysis

Back 43

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

Front 44

Forward pass

Back 44

A process that identifies all the early times

Front 45

Backward pass

Back 45

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

Front 46

Slack time

Back 46

Free time for an activity

Front 47

Total slack

Back 47

Time shared among more than one activity

Front 48

Quality

Back 48

The ability of a product or service to meet customer needs

Front 49

Cost of quality

Back 49

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

Front 50

ISO 9000

Back 50

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

Front 51

Total quality management

Back 51

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

Front 52

PDCA

Back 52

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

Front 53

Six Sigma

Back 53

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

Front 54

Employee empowerment

Back 54

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

Front 55

Quality circle

Back 55

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

Front 56

Benchmarking

Back 56

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

Front 57

Quality robust

Back 57

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

Front 58

Quality loss function

Back 58

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.

Front 59

Target oriented quality

Back 59

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

Front 60

Cause and effect diagram

Back 60

A schematic technique used to discover possible locations of quality problems

Front 61

Pareto charts

Back 61

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

Front 62

Flowcharts

Back 62

Block diagrams that graphically describe a process or system

Front 63

Statistical process control

Back 63

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

Front 64

control charts

Back 64

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

Front 65

Inspection

Back 65

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

Front 66

Source inspection

Back 66

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

Front 67

Poka-yoke

Back 67

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

Front 68

attribute inspection

Back 68

an inspection that classifies items as being either good or defective

Front 69

variable inspection

Back 69

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

Front 70

Service recovery

Back 70

training and empowering front line workers to solve a problem