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BNAD 302 > chapter 16 > Flashcards

chapter 16 Flashcards

1
Q

why is control needed (6 reasons)

A
  1. to adapt to change and uncertainty
  2. to discover irregularities and errors
  3. to reduce costs, increase productivity, or add value
  4. to detect opportunities
  5. to provide performance feedback
  6. to decentralize decision making and facilitate teamwork
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2
Q

what is step 1 of the control process

A

establish standards

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3
Q

what is step 2 of the control process

A

measure performance

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4
Q

what is step 3 of the control process

A

compare performance to standards

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5
Q

what is step 4 of the control process

A

take corrective action if necessary

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6
Q

feedforward control

A

focuses on preventing future problems

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7
Q

concurrent control

A

entails collecting performance info in real time

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8
Q

feedback control

A

amounts to collecting performance info after a task or project is done

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9
Q

strategic control

A

monitoring performance to ensure that tactical plans are being implemented

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10
Q

tactical control

A

monitoring performance to ensure that tactical plans are being implemented

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11
Q

operational control

A

monitoring performance to ensure that operational plans are being implemented and then taking corrective action as needed

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12
Q

what are the six areas of control

A 
structural
cultural
physical
human resources
informational
financial
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13
Q

what is the financial perspective

A

how do we look to shareholders?

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14
Q

what is the customer perspective

A

how do customers see us?

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15
Q

what is the internal business perspective

A

at what must we excel?

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16
Q

what is the innovation and learning perspective

A

can we continue to improve and create value?

17
Q

what are the four perspectives of a balanced perspectives

A

financial
customer
internal business
innovation & learning

18
Q

what is a strategy map

A

visual representation of the 4 perspectives of the balanced scorecard that enables managers to communicate their goals so that everyone in the company can understand how their jobs are linked to org’s objectives

19
Q

what are the 4 barriers to effective measurement

A
  1. objectives are fuzzy
  2. managers put too much trust in informal feedback systems
  3. employees resist new measurement systems
  4. companies focus too much on measuring activities of results
20
Q

balance sheet

A

summarizes an organization’s overall financial worth at a specific point in time

21
Q

income statement

A

summarizes an organization’s financial results over specified period of time

22
Q

what is an audit

A

formal verification of an organization’s financial and operational systems

23
Q

internal audit

A

performed by organization’s own professional staff

24
Q

external audit

A

performed by outside experts

25
Q

what are the 4 characteristics of Deming management

A
  1. quality should be aimed at needs of customer
  2. companies should aim at improving the system
  3. improved quality leads to increased market share, increased company prospects, and increased employement
  4. quality can be improved on the basis of hard data, using the PDCA cycle
26
Q

what is the PDCA cycle

A
  1. plan
  2. do
  3. check
  4. act
27
Q

what is total quality management (TQM)

A

a comprehensive approach dedicated to continuous improvement, training, and customer satisfaction

28
Q

what are the two orientations of TQM

A

people orientation

improvement orientation

29
Q

what are the 4 keys to successful control systems

A
  1. they’re strategic and results oriented
  2. they’re timely, accurate, and objective
  3. they’re realistic, positive, and understandable and encourage self-control
  4. they are flexible
30
Q

what are the 5 barriers to control success

A
  1. too much control
  2. too little employee participation
  3. overemphasis on means instead of ends
  4. overemphasis on paperwork
  5. overemphasis on one instead of multiple approaches
31
Q

what is productivity

A

outputs divided by inputs

32
Q

what is enterprise resource planning

A

software systems and information systems for integrating virtually all aspects of a business, helping managers stay on top of the latest developments

33
Q

what is benchmarking

A

a way to measure something against a standard

34
Q

what are best practices

A

a set of guidelines, ethics, or ideas that represent the most efficient or prudent course of action

BNAD 302 (9 decks)

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