Chapter 16 Controlling
True
T/F the quality-control procedures outlined by ISO 9000 certification are based on the honor system that the company with the certification will carry out procedures as promised
FInancial
The ____ perspective of the balanced scorecard asks the question, "How do we look to our shareholders?"
ISO 4000
The _____ series extends the concept of ISO certification by identifying standards for environmental preformances
expenses
The cost required to produce the goods or services of the org. are known as _______
companies should aim at improving the system, not blaming the workers
The second principle of the Deming management is_____
Enterprise
__________resource planning software systems are information systems for integrating virtually all aspects of a business.
incremental
_________budgeting allocates increased or decreased funds to a department by using the last budget period as a reference point.
Strategy Map
________a visual representation of the four perspectives of the balanced scorecard that enables managers to communicate their goals so that everyone in the company can understand how their jobs are linked to the overall objectives of the org.
long-term
assets not easily converted to cash, such as property, buildings, and equipment, are classified on a firm's balance sheet as _____ assets
make no change recognize and reinforce positive performance take action and correct negative performance
which represents potential actions that a manager may take in the 4th step of the control process?
feedback
focuses on collecting performance information after a task or project is complete
concurrent
focuses on collecting performance information in real time
feedfoward
focuses on preventing future problems
establish standards measure performance Compare performance to standards Take corrective action, if necessary
four steps of control process from first to last
investment in information technology
from 1995 to 2000, productivity grew at an annual rate of 2.5% which of the following factors is thought to have produced that growth
financial statement
A _______is a summary of some aspect of an org. financial status such as a balance sheet and an income statement
flexible
A budget in which the allocation of resources fluctuates in proportion to different levels of activity during the budget period is known as an _________
human rescources
A company institutes a policy requiring all employees involved in a workplace accident to submit to a mandatory drug test, this is an example of a control in the ____ area
income
A firms_____ statement summarizes the financial results over a specified period of time, such as a month, quarter or year.
cannot be adjusted over time
A fixed budget, also known as a static budget, has resources allocated on a single estimate of cost, this budget amount_______.
realistic, positive, and understandable
A good characteristic of a good control system
Budget
An________ is a formal financial projection that states an organization's planned activities for a given period of time in quantitative terms.
rules regulations formal authority
Bureaucratic control characterized by the use of which of the following to guide performance?
less wasteful
Deming management proposed ideas for making orgs. more responsive, more democratic, and _______
get every employee involved listen to and learn from customers and employees Make continuous improvement a priority Use accurate standards to identify and eliminate problems
Identify the components of total quality management?
learn how to fine tune people skills learn how to develop leadership skills encourage self-discovery and be realistic treat people as if they matter, because they do
Which are the keys to managerial success?
too little employee participation in planning too much control Overemphasis on paperwork Too much emphasis on means instead of ends
Which of the following are barriers to a successful control system?
Enterprise resource planning software systems
Which of the following increases productivity by using information systems to integrate virtually all aspects of a business?
Six Sigma
Which of the following is a statistical analysis process that reduces defects in manufacturing and service-related processes and require no more than 3.4 defects per million products or procedures
performance appraisals
Which of the following is an example of the human resources area of control
balance sheet
Which of the following summarizes the overall financial worth of an org. such as assets and liabilities, at a specific point in time?
Outsourcing
__ is the subcontracting of services and operations to an outside vendor?
Lean Six Sigma
___ focuses on problem solving and performance improvement_ speed with excellence- of a well defined product.
incremental
______ Budgeting allocates increased or decreased funds to a department by using the last budget period as a reference point
total quality management
______ is a comprehensive approach, led by top management and supported throughout the organization, dedicated to continuous quality improvement, training, and customer satisifaction
incremental
budget-planning approaches include zero-based budgeting (ZBB), the planning program budgeting systems, and _____ budgeting
Liabilities
debts or claims by suppliers and lenders against the assets of a company are classified as_____ on the company's balance sheet.
dashboard
like an instrument panel in a vehicle an _____ is a managerial report that displays easy- to-read graphics on critical information, such as sales, orders, costs, and shipments
continuous
ongoing, small, incremental improvements in all products, services, functional areas and work processes of an organization is known as______ improvement.
Productivity
outputs divided by inputs over a specific period of time equals_____
informational
press releases and environmental impact reports are examples of controls in the _____area
reducing the steps in a work process
reduced cycle time is the direct result of______
assets
resources that an organization controls, such as cash, inventory, and accounts receivable, are classified on the balance sheet as_________.
perception
since service industries do not produce a tangible product, often customer satisfaction may be a matter of______
periodic random samples
statistical process control is a statistical technique that uses _____from production runs to see if quality is being maintained within a standard range of acceptability
plan desired and important changes based on observed data implement the change or make a small-scale test Observe what happened after the change or during the test Act on lessons learned after studying results
steps of PDCA cycle in order from first step to last
internal business
the _____ perspective of the balanced scorecard approach examines areas and activities in which the firm currently excels, what it must do to excel in the future, and the processes in which the firm must concentrate its efforts in order to continue to satisfy customers and shareholders
customer
the _____ perspective on the balanced scorecard approach focuses on the analysis of different types of customers, their levels of satisfaction, and the processes used to deliver products and services to customers
customer satisfaction
the balanced scorecard gives top management a quick but through view of the organization via four indicators: _________, internal processes, innovation and improvement activities, and financial measures?
innovation and learning
the balanced scorecard perspective that assesses whether or not the org. encourages employees to make suggestions and question the status quo is known as the _____ perspective.
the needs of the consumer
the first principle of Deming management is that quality should be aimed at____
The needs of the consumer
the first principle of Deming management is that quality should be aimed at_____
Strategic control
the level of control in which managers monitor performance to ensure that plans are being implemented and take necessary corrective action is known as_________
decentralized
the opposite of bureaucratic is________ control
financial
the perspective in the balanced scorecard approach that is concerned with the shareholders view of org. performance, such as market share, revenue growth and stock price, is known as the ______ perspective
controlling
the purpose of ____ is to monitor performance and take corrective action as needed to ensure that objectives are met?
supply chain
the sequence of suppliers that contribute to creating and delivery a product is known as the____
improvement
the two core principles of TQM are people orientation and ___ orientation
external and internal
the two types of audits
internal audit
verification of a firms financial accounts and statements by the orgs. own professional staff is an________
to adapt to change and uncertainty to detect opportunities To discover errors and irregularities To reduce costs and increase productivity
what are reasons why control is needed in an org.
internal business perspective
which balanced scorecard perspectives asks the questions, "At what must we excel?"
using orgs. norms to influence preformance
which describes the cultural area of control?
it is a significant cost for companies It is an important component of business and can impact company finances
which is true about the supply chain?
top managers
which level of management is typically responsible for strategic control
middle managers
which level of management is typically responsible for tactical control
cash treasury bills accounts recievable
which of the following assets would be categorized as current assets on a firms balance sheet?
operational control
which of the following involves monitoring performance to ensure that short term plans and daily goals are being achieved and taking corrective action as needed?