chapter 17 Flashcards
a control is
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
four main steps in the control process:
- set standards
- measure performance
- compare performance to standards
- take corrective action where necessary
information technology (IT)
involves the development, maintenance, and use of computer systems, software, and networks for the processing and distribution of data
information technology services include
- cloud computing
- IaaS
- ERP
- PaaS
- SaaS
- data analytics
- artificial intelligence
- machine learning
types of informational systems managers use to create efficiencies and make effective decisions
- management information systems (MIS)
- transaction processing systems (TPS)
- enterprise resource planning (ERP)
- executive support systems (ESS)
- decision support systems (DSS)
- learning management systems (LMS)
management information systems (MIS)
a tool that aids organizations to run more effectively by incorporating people, technology, and information systematically
transaction processing systems (TPS)
an information processing system that records the daily business transactions of an organization at the operational level
Enterprise resource planning (ERP)=
a process used by organizations to integrate important parts of the business
Executive support system (ESS)
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
Decision support system (DSS)
a computer-based information system that helps organizations with their decision making process
learning management system (LMS)
a software application that facilitates educational courses, training programs, or learning and development programs
financial controls
processes, policies, and procedures implemented by managers to meet the organizations financial goals
types of financial controls include:
- budgeting
- financial statements
- audits
cybersecurity audit
formal assessment of an organizations cybersecurity policies and procedures together with the identification of any deficiencies that could leave the organization open to risk
cybersecurity threats that pose significant risks for organizations:
- ransomware
- malware
- social engineering
- phishing
ransomware
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
malware
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)
social engineering
the act of tricking users into divulging sensitive information
phishing
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
budget
a document used to predict revenue and expenditures during a certain period for financial forecasting
financial statement
a summary that lists the revenue and liabilities for a company during a particular time frame
audit
a formal examination of a companys, departments, or an individuals accounts or financial standing
describe how managers effectively apply controls to influence performance
performance development management spans a whole range of business activities, from system performance to people performance to facility performance (continued on next slide)
some of these practices include:
- lean manufacturing
- JIT method
- supply chain management
- TQM
- SQC
- Deming management
- Six sigma
- lean six sigma
- ISO 9000
- ISO 14000
- kaizen
lean manufacturing
the implementation of best practices to eliminate inefficiencies and waste while increasing profit
JIT (just in time) method
an inventory system that provides an item as needed rather than keeping inventory in stock
supply chain management
a network of interconnected businesses strategically aligned to provide product and service packages
SQC (statistical quality control)
the use of statistics from samples from production runs for the the sole purpose of determining production quality
six sigma
a business management strategy designed to analyze the causes of defects, using statistical methods
ISO 9000 series
provides an exact measure of quality globally over a platform or systems
ISO 14000 series
broadens the concept by focusing on the organizations environmental impact and quality
kaizen
a japanese strategy where managers and employees work together to identify opportunities and find solutions
