chapter 17

Question 1

a control is

Answer 1

a tool that helps managers use information to influence behavior and affect operational performance through greater efficiencies and effective decision making
- by excercising control, managers are better able to oversee activities and direct employees toward achieving organizational goals

Question 2

four main steps in the control process:

Answer 2

• set standards
• measure performance
• compare performance to standards
• take corrective action where necessary

Question 3

information technology (IT)

Answer 3

involves the development, maintenance, and use of computer systems, software, and networks for the processing and distribution of data

Question 4

information technology services include

Answer 4

• cloud computing
• IaaS
• ERP
• PaaS
• SaaS
• data analytics
• artificial intelligence
• machine learning

Question 5

types of informational systems managers use to create efficiencies and make effective decisions

Answer 5

• management information systems (MIS)
• transaction processing systems (TPS)
• enterprise resource planning (ERP)
• executive support systems (ESS)
• decision support systems (DSS)
• learning management systems (LMS)

Question 6

management information systems (MIS)

Answer 6

a tool that aids organizations to run more effectively by incorporating people, technology, and information systematically

Question 7

transaction processing systems (TPS)

Answer 7

an information processing system that records the daily business transactions of an organization at the operational level

Question 8

Enterprise resource planning (ERP)=

Answer 8

a process used by organizations to integrate important parts of the business

Question 9

Executive support system (ESS)

Answer 9

a management information system that uses internal and external data to aid the executive staff with their decision-making process with regard to organizational performance

Question 10

Decision support system (DSS)

Answer 10

a computer-based information system that helps organizations with their decision making process

Question 11

learning management system (LMS)

Answer 11

a software application that facilitates educational courses, training programs, or learning and development programs

Question 12

financial controls

Answer 12

processes, policies, and procedures implemented by managers to meet the organizations financial goals

Question 13

types of financial controls include:

Answer 13

• budgeting
• financial statements
• audits

Question 14

cybersecurity audit

Answer 14

formal assessment of an organizations cybersecurity policies and procedures together with the identification of any deficiencies that could leave the organization open to risk

Question 15

cybersecurity threats that pose significant risks for organizations:

Answer 15

• ransomware
• malware
• social engineering
• phishing

Question 16

ransomware

Answer 16

a type of malicious software (or malware) used by an attacker to gain access to a victims computer files, lock them, and then demand a ransom to unlock them

Question 17

malware

Answer 17

any file or program used for harm, such as worms (replicates itself and spreads from computer or computer), viruses (codes that corrupt the system and destroy data), trojan horses (a type of code that can take control of your computer), and spyware (software that steals data and sensitive information)

Question 18

social engineering

Answer 18

the act of tricking users into divulging sensitive information

Question 19

phishing

Answer 19

a cybercrime in which fraudulent e-mails designed to resemble legitimate institutions are sent to users to extract sensitive information such as banking, and credit card details, passwords, or log in information

Question 20

budget

Answer 20

a document used to predict revenue and expenditures during a certain period for financial forecasting

Question 21

financial statement

Answer 21

a summary that lists the revenue and liabilities for a company during a particular time frame

Question 22

audit

Answer 22

a formal examination of a companys, departments, or an individuals accounts or financial standing

Question 23

describe how managers effectively apply controls to influence performance

Answer 23

performance development management spans a whole range of business activities, from system performance to people performance to facility performance (continued on next slide)

Question 24

some of these practices include:

Answer 24

• lean manufacturing
• JIT method
• supply chain management
• TQM
• SQC
• Deming management
• Six sigma
• lean six sigma
• ISO 9000
• ISO 14000
• kaizen

Question 25

lean manufacturing

Answer 25

the implementation of best practices to eliminate inefficiencies and waste while increasing profit

Question 26

JIT (just in time) method

Answer 26

an inventory system that provides an item as needed rather than keeping inventory in stock

Question 27

supply chain management

Answer 27

a network of interconnected businesses strategically aligned to provide product and service packages

Question 28

SQC (statistical quality control)

Answer 28

the use of statistics from samples from production runs for the the sole purpose of determining production quality

Question 29

six sigma

Answer 29

a business management strategy designed to analyze the causes of defects, using statistical methods

Question 30

ISO 9000 series

Answer 30

provides an exact measure of quality globally over a platform or systems

Question 31

ISO 14000 series

Answer 31

broadens the concept by focusing on the organizations environmental impact and quality

Question 32

kaizen

Answer 32

a japanese strategy where managers and employees work together to identify opportunities and find solutions