Strategic And Behavioral Management Flashcards
1
Q
Strategic management
A
Setting long term goals and making decisions that ensure the organisations growth and competitive advantage. Planning, budgeting and resource allocation.
2
Q
Behavioural management
A
Study of how individuals and teams react to various incentives and controls within an organisation. Motivation and incentives.
3
Q
Management control systems
A
Budgeting
Standard costing
Performance measurement systems
Internal controls
Strategic planning and forecasting
4
Q
Performance incentives
A
Monetary incentives
Non monetary incentives
Goals
5
Q
ROI =
A
Profit / investment
Profit / revenue x Revenue / investment
6
Q
Weighed average cost =
A
Cogs / units available for sale
