Management Ch. 14
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
|
|
||||
|---|---|---|---|---|---|
| Control | Any process that directs the activities of individuals toward the achievement of organizational goals.
🗑
|
||||
| Bureaucratic Control | The use of rules, regulations, and authority to guide performance.
🗑
|
||||
| Market Control | Control based on the use of pricing mechanisms and economic information to regulate activities within organizations.
🗑
|
||||
| Clan Control | Control based on the norms, values, shared goals, and trust, among group members.
🗑
|
||||
| Standard | Expected performance for a given goal: a target that establishes a desired performance level , motivates performance, and serves as a benchmark against which actual performance is assessed.
🗑
|
||||
| Principle of Exception | A managerial principle stating that control is enhanced by concentrating on the exceptions to or significant deviations from the expected result or standard.
🗑
|
||||
| Feedforward 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.
🗑
|
||||
| Feedback Control | Control that focuses on the use of information about previous results to correct deviations from the acceptable standard.
🗑
|
||||
| Management Audit | An evaluation of the effectiveness and efficiency of various systems within an organization.
🗑
|
||||
| External Audit | An evaluation conducted by one organization, such as a CPA firm, on another.
🗑
|
||||
| Internal Audit | A periodic assessment of a company's own planning, organizing, leaning, and controlling processes.
🗑
|
||||
| Budgeting/Budgeting Controlling | The process of investing what is being done and comparing the results with the corresponding budget data to verify accomplishments or remedy differences.
🗑
|
||||
| Accounting Audits | Procedures used to verify accounting reports and statements.
🗑
|
||||
| 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 particular activities.
🗑
|
||||
| Balance Sheet | A report that shows the financial picture of a company at a given time and itemizes assets, liabilities, and stockholders' equity.
🗑
|
||||
| Assets | The values of the various items the corporation owns.
🗑
|
||||
| Liabilities | The amounts a corporation owes to various creditors.
🗑
|
||||
| Stockholders' Equity | The amount accruing to the corporation's owners.
🗑
|
||||
| Profit and Loss Statement | An itemized financial statement of the income and expenses of a company's operations.
🗑
|
||||
| Current Ratio | A liquidity ratio that indicates the extent to which short-term assets can decline and still be adequate to pay short-term liabilities.
🗑
|
||||
| Debt-Equity Ratio | A leverage ratio that indicates the company's ability to meet its long-term financial obligations.
🗑
|
||||
| Return on Investment (ROI) | A ratio of profit to capital used, or a rate of return from capital.
🗑
|
||||
| Management Myopia | Focusing on short-term earnings and profits at the expense of longer-term strategic obligations.
🗑
|
||||
| Balanced Scorecard | Control system combining four sets of performance measures: financial, customer, business process, and learning and growth.
🗑
|
||||
| Transfer Price | Price charged by one unit for a good or service provided to another unit within the organization.
🗑
|
Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
Created by:
sfrase
Popular Management sets