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management ch.16
exam 4
| Question | Answer |
|---|---|
| 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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