Chapter 08 Flashcards
balanced scorecard
A comprehensive management control system that balances traditional financial measures with operational measures relating to an organization’s critical success factors (p. 292)
benchmarking
Process whereby companies find out how others do something better than they do and then try to imitate or improve on it (p. 291)
business intelligence
High-tech analysis of large amounts of internal and external data to identify patterns and relationships (p. 285)
customer relationship management
Systems that help companies track customer interactions with the firm and allow employees to call up a customer’s past sales and service records, outstanding orders, or unresolved problems (p. 302)
data
The input of a communication channel (p. 298)
data mining
Software that uses sophisticated decision-making processes to search raw data for patterns and relationships that may be significant (p. 286)
data warehousing
The use of a huge database that combines all of an organization’s data and allows users to access the data directly, create reports, and obtain answers to “what-if” questions (p. 285)
decision support system
A system that enables managers at all levels of the organization to retrieve, manipulate, and display information from integrated databases for making specific decisions (p. 288)
e-business
Any business that takes place by digital processes over a computer network rather than in physical space (p. 303)
enterprise resource planning (ERP)
Sophisticated computerized systems that collect, process, and provide information about a company’s entire enterprise, including order processing, product design, purchasing, inventory, manufacturing, distribution, human resources, receipt of payments, and forecasting of future demand (p. 295)
executive information system (EIS)
Interactive system that helps top managers monitor and control organizational operations by processing and presenting data in usable form (p. 288)
explicit knowledge
Formal, systematic knowledge that can be codified, written down, and passed on to others in documents or general instructions (p. 298)
extranet
Private information network (p. 301)
feedback control model
A control cycle that involves setting goals, establishing standards of performance, measuring actual performance and comparing it to standards, and changing activities, as needed, based on the feedback (p. 289)
information
That which alters or reinforces understanding (p. 298)
information reporting systems
The most common form of management information system, these computerized systems provide managers with reports that summarize data and support day-to-day decision making (p. 287)
integrated enterprise
An organization that uses advanced information technology to enable close coordination within the company as well as with suppliers, customers, and partners (p. 301)
intellectual capital
The sum of an organization’s knowledge, experience, understanding, processes, innovations, and discoveries (p. 296)
intranet
A private, company-wide information network that uses the communications protocols and standards of the Internet, but is accessible only to people within the company (p. 295)
knowledge
A conclusion drawn from information that has been linked to other information and compared to what is already known (p. 298)
knowledge management
The efforts to systematically find, organize, and make available an organization’s intellectual capital and to foster a culture of continuous learning and knowledge sharing so that organizational activities build on existing knowledge (p. 296)
management control systems
The formalized routines, reports, and procedures that use information to maintain or alter patterns in organizational activity (p. 289)
management information system
A comprehensive, computerized system that provides information and supports day-to-day decision making (p. 287)
networking
Linking computers within or between organizations (p. 294)
Six Sigma
Quality standard that specifies a goal of no more than 3.4 defects per million parts; expanded to refer to a set of control procedures that emphasize the relentless pursuit of higher quality and lower costs (p. 291)
tacit knowledge
Knowledge that is based on personal experience, intuition, rules of thumb, and judgment, and cannot be easily codified and passed on to others in written form (p. 298)
transaction processing systems (TPS)
Automation of the organization’s routine, day-to-day business transactions (p. 285)
wiki
Web page that can be modified by readers (p. 297)
