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Chapter 7: Controlling - To Ensure Results
Core Concepts of Management by John R. Schermerhorn, JR
24
Management
Undergraduate 3
04/06/2011

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Term
Controlling
Definition
the process of measuring performance and taking action to ensure desired results
Term

  1. establish objectives and standards
  2. measure actual performance
  3. compare results with objectives and standards
  4. take corrective action as needed

Definition
Steps in the Control Process
Term

  1. quantity
  2. quality
  3. cost
  4. time 

Definition
Output standards measures performance results in terms of ...
Term

  1. Input Standards
  2. conformance to rules and procedures, efficiency in the use of resources, work attendance or punctuality

Definition

  1. measures work efforts that go into a performance task.  
  2. Examples of which are :

Term
Need for Action = Desired Performance - Actual performance
Definition
comparing results with objectives and standards can be expressed as the control equation:
Term
Management by exception
Definition
focuses managerial attention on substantial differences between actual and desired performance
Term

  1. the right directions and resources are available before work begins
  2. preliminary controls

Definition

  1. the feedforward control ensures that 
  2. also known as

Term

  1. during the work process
  2. steering controls

Definition

  1. concurrent controls focuses on what happens
  2. also known as

Term

  1. after an action is completed
  2. postaction controls

Definition

  1. feedback controls take place
  2. also known as

Term
internal control
Definition
this option with respect to control occurs through self-discipline and self-control
Term
external control
Definition
this option with respect to control occurs through direct supervision or administrative systems
Term
discipline
Definition
the act of influencing behavior through reprimand
Term
progressive discipline
Definition
ties reprimands to the severity and frequency of misbehavior
Term
liquidity
Definition
the ability to generate cash to pay bills
Term
leverage
Definition
ability to earn more in returns than the cost of debt
Term
asset management
Definition
ability to use resources efficiently and operate at minimum cost
Term
profitability
Definition
ability to earn revenues greater than costs
Term
Economic Order Quantity (EOQ)
Definition
this inventory control method orders a fixed number of items every time an inventory level falls to a predetermined point
Term
Just-in-time scheduling (JIT)
Definition
this inventory control method schedules materials to arrive at a work station or facility just in time to be used
Term
quality control
Definition
involves checking processes, material, products, or services to ensure that they meet high standards
Term
statistical quality control
Definition
instead of checking each item, a random sample is taken to test for quality control of a whole batch
Term
Management by objectives (MBO)
Definition
a process of joint objective setting between a superior and subordinate
Term

specific

time defined

challenging

measurable

Definition
a good performance objective should be
Term

  1. financial
  2. customer service
  3. internal process improvement
  4. innovation
  5. learning objectives

Definition
the Balanced Scorecard measures performance on
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