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23 Cards in this Set
- Front
- Back
Management Control System
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A logical integration of techniques for gathering and using information to make planning and control decisions, for motivating employee behavior, and for evaluating performance
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Key Success Factor
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Characteristics or attributes that managers must achieve in order to drive the organization toward its goals
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Responsibility Center
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A set of activities and resources assigned to a manager, a group of managers, or other employees
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Responsibility Accounting
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Identifying what parts of the organization have primary responsibility for each action, developing performance measures and targets, and designing reports of these measures by responsibility center
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Cost Center
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A responsibility center in which managers are responsibile for costs only
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Profit Center
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A responsibility center in which managers are responsible for revenues as well as costs (or expenses) - that is, profitability
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Investment Center
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A responsibility center whose success depends on both income and invested capital, perhaps measured by a ratio of income to the value of the capital employed
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Goal Congruence
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A condition where employees, working in their own personal interests, make decisions that help meet the overall goals of the organization
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Managerial Effort
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Exertion toward a goal or objective including all conscious actions (such as supervising, planning, and thinking) that result in more efficiency and effectiveness
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Motivation
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The drive for some selected goal that creates effort and action toward that goal
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Uncontrollable Cost
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Any cost that the management of a responsibility center cannot affect within a given time span
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Controllable Cost
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Any cost that a manager's decisions and actions can influence
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Segments
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Responsibility centers for which a company develops separate measures of revenues and costs
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Balanced Scorecard
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A performance measurement and reporting system that strikes a balance between financial and operating measures, links performance to rewards, and gives explicit recognition to the diversity of organizational goals
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Key Performance Indicators
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Measures that drive the organization to achieve its goals
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Quality Control
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The effort to ensure that products and services perform to customer requirements
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Cost of Qualtiy Report
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A report that displays the financial impact of quality
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Total Quality Management (TQM)
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An approach to quality that focuses on prevention of defects and on customer satisfaction
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Quality-Control Chart
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The statistical plot of measures of various product dimensions or attributes
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Six Sigma
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An analytical method aimed at achieving near-perfect results on a production line
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Cycle Time (Throughput Time)
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The time taken to complete a product or service, or any of the components of a product or service
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Productivity
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A measure of outputs divided by inputs
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Throughput Time
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The time taken to complete a product or service, or any of the components of a product or service
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