Shared Flashcard Set

Details

MAN320F EXAM 2
Ch 18
22
Management
Undergraduate 4
10/25/2011

Additional Management Flashcards

 


 

Cards

Term

Why is control important?

(3)

Definition

1.Planning: are goals on target; what actioins need to adjust

2.Shaping behavior:accountability (employee performance), motivation (increase consistency)

3. Protection: financial & physical security (employees customers public)

Term
What is one of teh functions of MCcOmbs entrepreneur in residence?
Definition
Term

MEASURING PERFORMANCE: HOW

 

sources of information

(4)

Definition

-personal observation

-statistical reports

-oral reports

-written reports

Term

MEASURING PERFORMANCE: WHAT

 

Control Criteria

Definition

1.Employees: satisfaction, turnover. absenteeism

 

2. Budgets: costs, output, sales

Term

MEASURING PERFORMANCE

ADVANTAGES/DISADVANTAGES

 

Personal observation

(3 each)

Definition

adv: ge firsthand knowledge

-info isn't filtered

-intensive coverage of work activities

disadv: subject to personal biases

time consuming

obtrusive

Term

MEASURING PERFORMANCE

ADVANTAGES/DISADVANTAGES

 

Statistical Reports

(2 each)

Definition

adv:-easy to visualize

-effective for showing relationships

 

disadv:-provide limited info

-ignore subjective factors

Term

MEASURING PERFORMANCE

ADVANTAGES/DISADVANTAGES

 

Oral Reports

(2 each)

Definition

adv:-fast way to get info

-allow fo verbal nonverbal feedback

 

disadv:info is filtered

-info can't be documented

Term

MEASURING PERFORMANCE

ADVANTAGES/DISADVANTAGES

 

Written reports

(3 and 1)

Definition

adv: comprehensive

formal

easy to file and retrieve

 

disadv: take more time to prepare

Term

Taking managerial action

 

3 ways

(7 things to know)

Definition

1. doing nothing: only if deviation is judged to be insignificant

2. correcting actual (current) performance: immediate corrective action, redirect vs aversive, investigative action to locate source of deviation

3. Revising the standard

Term

ORGANIZATIONAL PERFORMANCE MEASURES:

PRODUCTIVITY

 

Efficiency

(3)

Definition

-Output: sales revenues

-Inputs: costs of resources

-Personnel: turnover/absenteeism

Term

ORGANIZATIONAL PERFORMANCE MEASURES:

PRODUCTIVITY

 

Quality/Effectiveness

Definition

-Output: defects/returns, ontime orders

-Process: errors/rework, waste, safety

-Personnel: satisfaction

Term

ORGANIZATIONAL PERFORMANCE MEASURES:

FINANCIAL

 

Financial (ratio) analysis

(4)

Definition

-liquidity

-leverage

-activity

-profitability

Term

ORGANIZATIONAL PERFORMANCE MEASURES:

FINANCIAL

 

 Budget Analysis

(2)

Definition

-Planning and control tool

-focus on any +/- deviations in actual vs budgeted costs or revenues

Term

Tools for controlling organizational performance

(6)

Definition

-balanced scorecard

-benchmarking

-continuous quality improvement

-personnel control

-workplace monitoring

-external controls

Term

BALANCED SCORECARD 4 areas

1. How should we look to our customers?

2. How will we sustainn our ability to change?

3. How should we appear to our shareholders?

4.What processes must we excel at?

 

 

Definition

1. Customers

 

2.Learning and growth

 

3. Financial

 

4.Internal business process

Term

PERSONNEL CONTROL CONCERNS

 

Employee control steps

(3)

Definition

1. Set clear goals/expectations: work policies, quantity, quality, culture

2. Measure

3. Provide feedback: connect to personal goals, recognition, redirection, discipline/aversive

Term

Personnel control concerns include

(4)

Definition

-attendance

-work quality/quantity

-interactions with others

-felonies

Term

Employee discipline process

(3)

Definition

1. Verbal warning

2. Written counseling

3. Suspension/termination

Term

External controls on monitoring

(3)

Definition

-Governmental monitoring

-Security and Exchange Commission (SEC)

-Banks/lenders/investors

Term

HOW THE MIGHTY FALL

 

What control tools (balanced scorecard, benchmarking, CQI etc) could help a company identify Stage 1 decline?

Definition

 

-Quality Management (CQI)

 

(maybe benchmarking too)

 

Term

HOW THE MIGHTY FALL

 

What personnel control measures might help identify Stage 2 decline?

Definition
Balanced scorecard
Term

HOW THE MIGHTY FALL

 

What does teh author identify as a major corollary of an organization's decline?

Definition
Lack of discipline
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