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Chapter 16 vo
chapter 16 vocab words
| Question | Answer |
|---|---|
| formal verifications of an organization's financial and operational systems. | Audits |
| summarizes an organization's overall financial worth- that is, assets and liabilities- at a specific point in time. | balance sheet |
| summary of some aspect of an organization's financial statue. | balanced scorecards |
| approach to organiiational control thats used by rules, regulations, and formal authority to guide performane | bureaucratic control |
| summaries an organization's financial results- revenues and expenses- over a specified period of time. | income statement |
| 1. establish standards 2. measure performance 3. compare performance to standards 4. take corrective action, if needed | control process steps |
| increase or decrease funds to a department by using the last budget period as a reference point; only incremental changes in the budget request are reviewed. | incremental budgeting |
| verification of and organizations's financial accounts and statements by the organization's own professional staff. | internal audit |
| approach to organizational control that is by informal and organic structural arrangements. | decentralized control |
| proposed ideas for making organizations more responsive, more democratic, and less wasteful | deming management |
| formal verification of an organization's financial accounts and statements by outside ecperts. | external audit |
| summary of some aspect of an organization's financial statue. | financial statement |
| a plan-do-check-act cycle using observed data for continuous improvement of operations. | PDCA cycle |
| summaries an organization's financial results- revenues and expenses- over a specified period of time. | income statement |
| Reliability: dependably, accurate, constitant assurance: employees knowledge, courtesy, & ability trust and confidence tangibles: physical facilities, equipment, appearance empathy: caring,responsiveness: will to help service and help customers | RATER scale |
| practice of evaluating financial ratios | incremental budgeting |
| verification of and organizations's financial accounts and statements by the organization's own professional staff. | internal audit |
| statistical analysis process that reduces defects in manufacturing and service-related process | ISO 9000 series |
| solving problemts and performance improvement-speed with excellence- of a well defined project. | lean Six Sigma |
| states a managers should be informed of a sistuation only if the data show a significant deviation from standards. | management by exception |
| usues periodic random samples from production tuns to see if quality is being maintained within a standard range of acception. | statistical process control |
| a plan-do-check-act cycle using observed data for con | PDCA cycle |
| practice of evaluating financial ratios | Ratio analysis |
| analysis process that reduces defects in manufacturing and service-ralated process. | Six Sigma |
| by top management and supported throughout organization-to continuous quality improvement, training, and customer satisfaction. 1. make continuous improvement a priority 2. get everyone involved 3. listen to and learn from customers and employees | total quality management |
| 1.people orientation- everone involved with the organization should focus on delivering value to customers 2. improvement orientation-everyone should work on continuous improving the work processes. | 2 core principles of TQM |
| starting over each budget at zero. | zero-based budget |
Created by:
kels1099
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