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?