Control (Chapter 16) Flashcards
regulatory process of establishing standards to achieve organizational goals, comparing actual performance against the standards, taking action when necessary
control
a basis of comparison for measuring the extent to which various kinds of organizational performance are satisfactory or unsatisfactory
standards
the process of identifying outstanding practices, processes, and standards in other companies and adapting them to your company
benchmarking
process of steering or keeping on course
cybernetic
a mechanism for gathering information about performance deficiencies after they occur
feedback control
gathers information about performance deficiencies as they occur, eliminating/shortening the delay between performance and feedback about the performance
concurrent control
mechanism for monitoring the performance inputs rather than outputs to prevent or minimize performance deficiencies before they occur
feedforward control
occurs when behavior and work procedures do not conform to standards
control loss
costs associated with implementing or maintaining control
regulation costs
the extent to which it is possible to implement each step in the control process
cybernetic feasibility
use of hierarchical authority to influence employee behavior by rewarding or punishing employees for compliance with organizational policies, rules, and procedures
bureaucratic control
use of observable worker behavior or outputs to asses performance and influence behavior
objective control
regulation of behaviors and actions that workers perform on the job
behavior control
regulation of workers results or outputs through rewards and incentives
output control
regulation of worker behavior and decisions through widely shared organizational values and beliefs
normative control
regulation of worker behavior and decisions through work group values and beliefs
concertive control
a control system in which managers and workers control their own behavior by setting their own goals, monitoring their own progress, and rewarding themselves for goal achievement
Self-control (self management)
measurement of organizational performance in four equally important areas : finances, customers, internal operations, and innovation and learning
balanced scorecard
performance investment in one part of an organization but only at the expense of decreased performance in another part
suboptimization
a type of analysis that predicts how changes in a business will likely affect its ability to make more ash than it pays out
cash flow analysis
accounting statements that provide a snapshot of a company’s financial position at a particular time
balance sheets
accounting statements, also called “profit and loss statements” , that show what has happened to an organization’s income, expenses, and net profit over a period of time
income statements
calculations typically used to track a business’s liquidity (cash), efficiency, and profitability over time compared to other businesses in the industry
financial ratios
quantitative plans through which managers decide how to allocate available money to best accomplish company goals
budgets
