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| detailed plan for the future, usually expressed in formal quantatative terms |
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| a series of steps that are followed to carry out some task in a business |
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chief financial officer the member of the top management team who is respnisble for financial providing timely and relevant data to support plannig and control activties and for prparring financial statements |
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| anything that prevents an organization or individual from getting more of what it wants |
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game plan that enables a compyn to attract customers to by distinguishing itself from comps. focal point is target customers |
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| 3 customer value propositions |
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customer intimacy operational excellence product leadership |
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involves establishing a basic strategy selecting a course of action and specifying how the action will be implemented look at sales volumes, profit margins, and costs of company |
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the manager in charge of the accounting department plans budgets |
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signals whether operations are on track the key to effective control provided by detailed reports |
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compare budgeted and actual results suggest where operations are not proceeding as planned and where some parts require additonal attention |
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| planning and control cylce |
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smooth flow of management activities decision making planning, directing and motivating, controlling |
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1. initiate JIT purchasing 2. improve the plant layout 3. reduce setup time 4. strive for zero defects 5.develop a flexible work force |
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1. less inventory funds 2. more space for better uses 3. throughput time is reduced- better responsiveness to customers 4. defect rates are reduced |
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emphasizes many small incremental improvements implemented by teams of fonrt-line workers who identify and solve problems |
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the system by which a company is directed and controlled. If properly implemented it should provide incentives for top management to pursue objectives that are in the interests of the company and it should effectively monitor performance |
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| the delegation of decision making authority throughout an organization by providing managers with the authority to make decisions relating to their area of responsibility |
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| mobilizng people to carry out plans and run routine operation s |
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| a software system that integrates data from across an organization into a signel centralzed database that enables all employees to access a common set of data |
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