Term
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Definition
| task of ensuring that activities are getting the desired results |
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Term
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Definition
| control that predicts results and takes corrective action before the operation or project is completed |
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Term
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Definition
| a control system in which work may not proceed to the next step until it passes an intermediate checkpoint step |
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Term
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Definition
| any control in which the project or operation being controlled is completed first, and the results are measured and compared to the standard |
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Term
| traditional control methods |
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Definition
| control procedures that are based on maintaining control generally through external means, by setting standards, comparing the actual results to the standard, and then taking corrective action, and including diagnostic, boundary, and interactive control systems. |
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Term
| 3 steps to traditional control process |
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Definition
(1) establish a standard
(2) measure actual performance and compare it to the standard
(3) take corrective action |
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Term
| diagnostic control system |
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Definition
| a control method, such as a budget, that ensures that standards are being met and that variances are diagnosed and explained.
(traditional) |
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Term
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Definition
| policies, such as codes of conduct, that establish rules and identify the actions and pitfalls that employees must avoid |
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Term
| interactive control system |
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Definition
| control methods that involve direct, face-to-face interaction with employees so as to monitor rapidly changing information and respond proactively to changing conditions |
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Term
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Definition
(sometimes called management by exception)
this rule holds that employees should be left to pursue the standards set by management, and only significant deviations from the standard should be brought to a manager's attention |
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Term
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Definition
| formal, financial expression of a manager's plans |
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Term
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Definition
| shows the number of units to be shipped in each period or in general the sales activity to be achieved and the sales revenue expected from the sales |
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Term
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Definition
| shows the expected sales and/or expenses for each of the company's departments for the planning period in question |
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Term
| production and materials budget |
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Definition
| shows what the company plans to spend for materials, labor, and administration in order to fulfill the requirements of the sales budget |
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Term
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Definition
| shows expected sales, expected expenses, and expected income or profit for the year. |
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Term
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Definition
| shows, for each month, the amount of cash the company can expect to receive and the amount it can expect to disperse. |
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Term
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Definition
| a projected statement of the financial position of the firm. |
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Term
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Definition
| differences between budgeted and actual amounts |
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Term
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Definition
| a systematic process of objectively obtaining and evaluating evidence regarding important aspects of the firm's performance, judging the accuracy and validity of the data, and communicating the results to interested users. |
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Term
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Definition
| an arithmetic comparison of one financial measure to another, generally used to monitor and control financial performance |
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Term
| financial responsibility centers |
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Definition
| individuals or groups who are assigned the responsibility for a particular set of financial outputs and/or inputs |
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Term
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Definition
| responsibility centers whose managers are held accountable for profit |
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Term
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Definition
| responsibility centers whose managers are held accountable for generating revenues, which is a financial measure of output |
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Term
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Definition
| a management tool, usually a computerized model, that traces a multitude of performance measures simultaneously and shows their interactions |
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Term
| enterprise resource planning system |
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Definition
| a companywide integrated computer system that gives managers real-time, instantaneous information regarding the costs and status of every activity and project in the business |
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Term
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Definition
| a reaction to being controlled in which employees concentrate too narrowly on the company's control standards and thereby miss the company's more important objectives |
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Term
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Definition
| management actions that try to improve the manager's apparent performance in terms of the control system without producing any economic benefits for the company |
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Term
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Definition
| the relative strengths of an individual's identification with and involvement in an organization |
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Term
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Definition
| the practice of screening and hiring people whose values are consistent with those of the company, rather than looking just at an applicant's job-related skills |
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Definition
| the process of managing the resources that are needed to produce an organization's goods and services |
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Term
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Definition
| a resource required for the manufacture of a product or service |
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Term
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Definition
| any production system that converts inputs (material and human resources) into outputs. |
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Term
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Definition
| a direct outcome (actual product or service) or indirect outcome (tax, wage, salary) of a production system |
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Term
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Definition
| a system in which production is performed on a start-and-stop basis, such as for the manufacture of made-to-order products |
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Term
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Definition
| a production process, such as those used by chemical plants or refineries, that runs for very long periods without the start-and-stop behavior associated with intermittent production. |
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Term
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Definition
| the configuration of all the machines, employee work stations, storage areas, internal walls, and so forth that constitute the facility used to create a firm's product or service |
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Term
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Definition
| a production system design in which every item to be produced follows the same sequence of operations from beginning to end, such as an assembly line. |
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Term
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Definition
| a production system design in which similar machines or functions are grouped together |
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Term
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Definition
| a production system arrangement in which the product being built or produced stays at one location and the machines and tools required to build the product are brought to that location as needed, as for the building of ships or other bulky products. |
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Term
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Definition
| usually a combination of process and product layouts, in which machines and personnel are grouped into cells containing all the tools and operations required to produce a particular product or family of products. |
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Term
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Definition
| the process of deciding what products to produce and where, when and how to produce them |
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Term
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Definition
| the process of ensuring that the specified production plans and schedules are being adhered to |
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Term
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Definition
| a production scheduling chart that plots time on a horizontal scale and generally shows, for each order, the start and stop times of each operation |
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Term
| network planning and control methods |
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Definition
| ways of planning and controlling projects by graphically representing the projects' steps and the timing and links between these steps |
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Term
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Definition
| the specific accomplishments in a project, represented by circles in a PERT chart |
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Term
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Definition
| the time-consuming aspects of a project, represented by arrows in a PERT chart |
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Term
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Definition
| the sequence of events in a project that in total requires the most time to complete |
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Term
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Definition
| the process of ensuring that the firm has adequate inventories of all parts and supplies needed, within the constraint of minimizing total inventory costs. |
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Term
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Definition
| the costs, usually fixed, of placing an order or setting up machines for a production run |
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Term
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Definition
| the total costs of all units bought to fill an order, usually varying with the size of the order |
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Term
| inventory-holding (carrying) costs |
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Definition
| all the costs associated with carrying parts or materials in inventory |
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Term
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Definition
| the costs associated with running out of raw materials, parts, or finished-goods inventory |
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Term
| economic order quantity (EOQ) |
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Definition
| an inventory management system based on a simple formula that is used to determine the most economic quantity to order so that the total of inventory and set-up costs is minimized. |
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Term
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Definition
| Q = sqrt(2US/CI)
Where:
Q = Economic Order quantity
U = annual usage
S = restocking (or ordering) cost
C = cost per unit
I = annual carrying cost
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Term
| Given an EOQ, formula for times per year to place an order |
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Definition
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Term
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Definition
| the quality standards of the European Union |
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Term
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Definition
| the extent to which a product or service is able to meet customer needs and expectations |
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Term
| total quality management (TQM) program |
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Definition
| a specific organizationwide program that integrates all the functions and related processes of a business such that they are all aimed at maximizing customer satisfaction through ongoing improvements. |
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Term
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Definition
| a prize created in 1987 by the US Department of Congress to recognize outstanding achievement in quality control management |
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Term
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Definition
| a method of monitoring product quality that requires the inspection of only a small portion of produced items. |
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Term
| designing for manufacturability |
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Definition
| designing products with ease of manufacturing and quality in mind |
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Term
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Definition
| designing products in multidisciplinary teams so that all departments involved in the product's success contribute to its design |
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Term
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Definition
| an organization that can compete successfully based on quality and productivity in an intensely competitive global environment |
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Term
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Definition
| an organization that uses modern production techniques and management systems to boost manufacturing productivity, quality, and flexibility in an environment of international competition |
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Term
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Definition
| a production control method used to attain minimum inventory levels by ensuring delivery of materials and assemblies just when they are to be used; also refers to a philosophy of manufacturing that aims to optimize production processes by continuously reducing waste |
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Term
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Definition
| a management philosophy that assumes that any manufacturing process that does not add value to the product for the consumer is wasteful; also called value-added manufacturing |
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Term
| computer-aided design (CAD) |
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Definition
| a computerized process for designing new products, modifying existing ones, or simulating conditions that may affect the designs |
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Term
| computer-aided manufacturing |
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Definition
| a computerized process for planning and programming production processes and equipment. |
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Term
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Definition
| the automatic operation of a system, process, or machine |
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Term
| flexible manufacturing system (FMS) |
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Definition
| the organization of groups of production machines that are connected by automated materials-handling and transfer machines, and integrated into a computer system for the purpose of combining the benefits of made-to-order flexibility and mass-production efficiency. |
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Term
| computer-integrated manufacturing (CIM) |
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Definition
| the total integration of all production-related business activities through the use of computer systems, usually including automation and automatic guided vehicles. |
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Definition
| a total organizationwide approach that makes quality of service the business's number one driving force |
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Term
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Definition
| the instant when the customer comes in contact with any aspect of a business, and based on that contact forms an opinion about the quality of your service or product |
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Term
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Definition
| includes all the moments of truth experienced by a typical customer, from first to last. |
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Term
| Karl Albrecht's Service Triangle |
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Definition
(1) a well-conceived service strategy
(2) Customer-oriented front-line people
(3) Customer-friendly systems |
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Term
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Definition
| lists the service attributes for which customers are looking as well as the relative weights or priorities of each attribute and how the customers score your company on each of them |
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Term
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Definition
| the company's plan for achieving superior service |
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Term
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Definition
| data presented in a form that is meaningful to the recipient |
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Term
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Definition
| using special computer software to analyze vast amounts of customer data stored in a company's data bank to obtain information the firm can use to be more competitive |
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Term
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Definition
| the task of developing and exploiting an organization's tangible and intangible knowledge resources. |
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Term
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Definition
| a set of people, data, and procedures that work together to retrieve, process, store, and disseminate information to support decision making and control. |
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Term
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Definition
| an information system designed to help top-level executives acquire, manipulate, and use the information they need to maintain the company's overall effectiveness. |
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Term
| management information systems |
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Definition
| an information system that provides decision support for managers by producing standardized, summarized reports on a regular basis |
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Term
| transaction processing system |
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Definition
| an information system that provides detailed information about short-term, daily activities |
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Term
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Definition
| a group of interconnected computers, workstations, or computer devices |
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Term
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Definition
| a communications network that spans a limited distance, such as a building or several adjacent buildings, using the company's own telecommunications links. |
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Term
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Definition
| a network that serves microcomputers over large geographic areas, spanning distances from a few miles to around the globe, and that may use common carrier networks or private telecommunications systems. |
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Term
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Definition
| computerized networks that use small local computers to collect, store, and process information that is sent periodically to headquarters for analysis and review. |
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Definition
| the study of standards of conduct and moral judgment; also, the standards of right conduct |
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Term
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Definition
| a comparative evaluation stating or implying that something is good or bad, right or wrong, or better or worse. |
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Term
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Definition
| a society's accepted norms of social behavior |
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Definition
| the obvious signs and symbols of corporate culture, such as organizational structure, policies, and dress code. |
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Term
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Definition
| the characteristic set of values and ways of behaving that employees in an organization share |
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Term
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Definition
| in organizational behavior, the ceremonial events, written and spoken comments, and actual behaviors of an organization's members that conribute to creating organizational culture |
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Term
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Definition
| the guiding standards of an organization, such as "the customer is always right" or "don't be bureaucratic," that affirm what should be practiced, as distinct from what is practiced. |
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Term
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Definition
| practices and actions that create and sustain a company's culture |
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Term
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Definition
| the repeated tales and anecdotes that contribute to a company's culture by illustrating and reinforcing important company values. |
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Term
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Definition
| traditional culture-building events or activities that symbolize the firm's values and help convert employees to these values. |
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Term
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Definition
| the extent to which companies should or do channel resources toward improving the quality of life of one or more segments of society other than the firm's own stockholders |
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Term
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Definition
| any person or group that is important to the survival and success of the corporation |
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Term
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Definition
| the idea that corporations should be free to strive for profits so long as they commit no harm |
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Definition
| a rating system used to evaluate a corporation's performance with regard to meeting its social obligations |
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Definition
| the activities of employees who try to report organizational wrongdoing |
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Definition
| planning and implementing organizational systems and practices to manage people in a way that maximized the potential advantages of diversity while minimizing its potential disadvantages. |
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Term
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Definition
| describes a workforce comprised of two or more groups, each of which can be identified by demographic or other characteristics |
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Definition
| a tendency to view members of one's own group as the center off the universe and to view other social groups less favorably than one's own. |
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Definition
| symbolically appointing a small number of minority-group members to high profile positions instead of more aggressively achieving full representation for that group. |
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Definition
| usually, the association of women with certain behaviors and possibly jobs. |
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Term
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Definition
| a relationship between two people in which the more experienced mentor provides support, guidance, and counseling to enhance the protege's success at work and in other areas of life. |
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