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management ch.16

exam 4

Control a regulatory process of establishing standards to achieve organizational goals, comparing actual performance to the standards, and taking corrective action when necessary
Standards a basis of comparison for measuring the extent to which various kinds of organziation performance are satisfactory or unsatisfactory
Benchmarking the process of identifying outstanding practices, processes, and standards in other companies and adapting them to your company
Cybernetic the process of steering or keeping on course
Feeback control mechanism for gathering information about performance deficiencies after they occur
Concurrent control a mechanism for gathering information about performance dificiencies as they occure, thereby eliminating or shortening the delay between performance and feedback
Feedforward control a mechanism for monitoring performance inputs rather than outputs to prevent or minimize performance deficiencies before they occur
Control less the situation in which behavior and work procedures do not conform to standards
Regulation costs the costs associated with implementing or maintaining control
Cybernetic feasibility the extent to which it is possible to implement each step in the control process
Bureaucratic control the use of hierarchical authority to influence employee behavior by rewarding or punishing employees for compliance or noncompliance with organizational policies, rules, and procedures
Objective control the use of observable measures of worker behavior or outputs to asses performance and influence behavior
Behavior control the regulation of the behaviors and actions that workers perform on the job
Output control the regulation of workers' results or ouputs through rewards and incentives
Normative control the regulation of workers' behavior and decision through widely shared organizational values and beliefs
Concertive control the regulation of workers' behaviors and decisions through work group values and beliefs
Self-control (self management) a control system in which managers and workers control their own behavior by setting their own goals, monitoring their own progress, and rewarding themselves for goal achievement
Balanced scorecard measurement of organizational performance in four equally important areas: finances, customers, internal operations, and innovation and learning
Suboptimization performance improvement in one part of an organization but at the expense of decreased performance in another part
Cash flow analysis a type of analysis that predicts how changes in a business will affect its ability to take in more cash than it pays out
Balance sheets accounting statements that provide a snapshot of a company's financial position at a particular time
Income statements accounting statements, also called "profit-and-loss statements," that show was has happend to an organization's income, expenses, and net profit over a period of time
Financial ratios calculations typically used to track a business's liquidity (cash), efficiency, and profitability over time compared to other businesses in its industry
Budgets quantitative plans through which managers decide how to allocate available money to best accomplish company goals
Economic value added (EVA) the amount by which company profits (revenues, minus expenses, minus taxes) exceed the cost of capital in a given year
Customer defections a performance assessment in which companies identify which customers are leaving and measure the rate at which they are leaving
Value customer perception that the product quality is excellent for the price offered
Created by: ca1271
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