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Ch. 13 - Bateman
Management - Ch. 13 Control
Question | Answer |
---|---|
Control | Process that constrains/directs activities to accomplish goals to get desired outcome. |
Policies | Usually tell you what NOT to do. |
Bureaucratic(Formal) Control | The use of rules, regulations, standards, hierarchy, and legitimate authority to guide performance. |
Market (Informal)Control | Use of prices, competition, and exchange. |
Feedfoward Control | The control process used before operations begin, including policies, procedures, and rules designed to ensure that planned activities are carried out properly. |
Concurrent control | The control process used while plans are being carried out, including directing, monitoring, and fine-tuning activities as they are performed. *Technology has improved concurrent control mechanisms. |
Feedback Control | Control that focuses on the use of information about previous results to correct deviations from the acceptable standard. |
Control Cycle | Length of time you exercise control. |
Crisis | Leads to tighter control cycles. |
Productivity | Ratio of input vs. output. |
Six Sigma | Purpose to drive out variance and error. |
Tight controls | destroys relationship between workers and management |
Management audits | an evaluation of the effectiveness and efficiency of various systems within an organization |
External audit | evaluation conducted by one organization, such as CPA firm, on another |
Internal audit | periodic assessment of a company’s own planning, organizing, leading, and controlling processes. |
Activity-based costing (ABC) | a method of cost accounting designed to identify streams of activity and then to allocate costs across particular business processes according to the amount of time employees devote to the particular activities |
Budgeting | process of investigating what is being done and comparing the results with the corresponding budget data to verify accomplishments or remedy differences |