Term
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Definition
| the process of measuring performance and taking action to ensure desired results |
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Term
- establish objectives and standards
- measure actual performance
- compare results with objectives and standards
- take corrective action as needed
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Definition
| Steps in the Control Process |
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Term
- quantity
- quality
- cost
- time
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Definition
| Output standards measures performance results in terms of ... |
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Term
- Input Standards
- conformance to rules and procedures, efficiency in the use of resources, work attendance or punctuality
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Definition
- measures work efforts that go into a performance task.
- Examples of which are :
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Term
| Need for Action = Desired Performance - Actual performance |
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Definition
| comparing results with objectives and standards can be expressed as the control equation: |
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Term
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Definition
| focuses managerial attention on substantial differences between actual and desired performance |
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Term
- the right directions and resources are available before work begins
- preliminary controls
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Definition
- the feedforward control ensures that
- also known as
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Term
- during the work process
- steering controls
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Definition
- concurrent controls focuses on what happens
- also known as
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Term
- after an action is completed
- postaction controls
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Definition
- feedback controls take place
- also known as
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Term
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Definition
| this option with respect to control occurs through self-discipline and self-control |
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Term
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Definition
| this option with respect to control occurs through direct supervision or administrative systems |
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Term
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Definition
| the act of influencing behavior through reprimand |
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Term
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Definition
| ties reprimands to the severity and frequency of misbehavior |
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Term
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Definition
| the ability to generate cash to pay bills |
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Term
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Definition
| ability to earn more in returns than the cost of debt |
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Term
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Definition
| ability to use resources efficiently and operate at minimum cost |
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Term
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Definition
| ability to earn revenues greater than costs |
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Term
| Economic Order Quantity (EOQ) |
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Definition
| this inventory control method orders a fixed number of items every time an inventory level falls to a predetermined point |
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Term
| Just-in-time scheduling (JIT) |
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Definition
| this inventory control method schedules materials to arrive at a work station or facility just in time to be used |
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Term
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Definition
| involves checking processes, material, products, or services to ensure that they meet high standards |
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Term
| statistical quality control |
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Definition
| instead of checking each item, a random sample is taken to test for quality control of a whole batch |
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Term
| Management by objectives (MBO) |
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Definition
| a process of joint objective setting between a superior and subordinate |
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Term
specific
time defined
challenging
measurable |
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Definition
| a good performance objective should be |
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Term
- financial
- customer service
- internal process improvement
- innovation
- learning objectives
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Definition
| the Balanced Scorecard measures performance on |
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