5.18: Monitoring and Controlling

Question 1

Management function that involves monitoring, comparing, and correcting work performance

Answer 1

controlling

Question 2

A three-step process of measuring actual performance, comparing actual performance against a standard, and taking managerial action to correct deviations or inadequate standards

Answer 2

control process

Question 3

The acceptable parameters of variance between actual performance and the standard

Answer 3

range of variation

Question 4

Corrective action that corrects problems at once to get performance back on track

Answer 4

immediate corrective action

Question 5

Corrective action that looks at how and why performance deviated before correcting the source of deviation

Answer 5

basic corrective action

Question 6

The end result of an activity

Answer 6

performance

Question 7

The accumulated results of all the organizations work activities

Answer 7

organizational performance

Question 8

The amount of goods or services produced divided by the inputs needed to generate that output

Answer 8

productivity

Question 9

A measure of how appropriate organizational goals are and how well those goals are being met

Answer 9

organizational effectiveness

Question 10

An approach to ensure that the minimum penalty appropriate to the offense is imposed

Answer 10

progressive disciplinary action

Question 11

Control that takes place before a work activity is done

Answer 11

feedforward control

Question 12

Control that takes place while a work activity is in progress

Answer 12

concurrent control

Question 13

A term used to describe when a manager is out in the work area interacting directly with employees

Answer 13

management by walking around

Question 14

Control that takes place after a work activity is done

Answer 14

feedback control

Question 15

A system used to provide management with needed information on a regular basis

Answer 15

management information system (MIS)

Question 16

A performance measurement tool that looks at more than just the financial perspective

Answer 16

balanced scorecard

Question 17

The search for the best practices among competitors or non competitors that lead to their superior performance

Answer 17

benchmarking

Question 18

The standard of excellence against which to measure and compare

Answer 18

benchmark

Question 19

Any unauthorized taking of company property by employees for their personal use

Answer 19

employee theft

Question 20

The service sequence from employees to customers to profit

Answer 20

service profit chain

Question 21

corporate governance

Answer 21

The system used to govern a corporation so that the interests of corporate owners are protected

Question 22

Predictions of outcome

Answer 22

forecasts

Question 23

Forecasting that applies a set of mathematical rues to a series of past data to predict outcomes

Answer 23

quantitative forecasting

Question 24

Forecasting that uses the judgement and opinions of knowledgeable individuals to predict outcomes

Answer 24

qualitative forecasting

Question 25

An organization's assets--including financial, physical, human, intangible, and structural/cultural--that are used to develop, manufacture, and deliver products to its customers

Answer 25

resources

Question 26

A numerical plan for allocating resources to specific activities

Answer 26

budget

Question 27

The process of allocating resources to pay for designated future costs

Answer 27

budgeting

Question 28

Process starting with the current budget from which managers decide whether they ned additional resources and the justification for requesting it

Answer 28

incremental budgeting

Question 29

Process starting with an established point of zero rather than using the current budget as the basis for adding, modifying, or subtracting resources

Answer 29

zero-base budgeting (ZBB)

Question 30

Detailing what activities have to be done, the order in which they are to be completed, who is to do each, and when they are to be completed

Answer 30

scheduling

Question 31

A scheduling chart developed by Henry Gantt that shows actual and planned output over a period of time

Answer 31

Gantt chart

Question 32

A modified Gantt chart that schedules capacity by entire departments or specific resources

Answer 32

load chart

Question 33

A flowchart diagram showing the sequence of activities needed to complete a project and the time or cost associated with each

Answer 33

PERT network

Question 34

End points that represent the completion of major activities in a PERT network

Answer 34

events

Question 35

The time of resources needed to progress from one event to another in a PERT network

Answer 35

activities

Question 36

The amount of time an individual activity can be delayed without delaying the whole project

Answer 36

slack time

Question 37

The longest sequence of activities in a PERT network

Answer 37

critical path

Question 38

A technique for identifying the point at which total revenue is just sufficient to cover total costs

Answer 38

breakeven analysis

Question 39

A mathematical technique that solves resource allocation problems

Answer 39

linear programming

Question 40

A one-time-only set of activities that has definite beginning and ending point in time

Answer 40

project

Question 41

The task of getting projects activities done on time, whiten budget, and according to specifications

Answer 41

project management

Question 42

A consistent view of what the future is likely to be

Answer 42

scenario

Question 43

the transformation process that converts resources into finished goods and services

Answer 43

operations managements

Question 44

Organizations that produce physical goods

Answer 44

manufacturing organizations

Question 45

Organizations that produce nonphysical products in the form of services

Answer 45

service organizations

Question 46

The performance characteristics features, and attributes, and any other aspects of goods and services for which customers are willing to give up resources

Answer 46

value

Question 47

The entire series of organizational work activities that add value at each step from from raw materials to finished product

Answer 47

value chain

Question 48

The process of managing the sequence of activities and information along the entire value chain

Answer 48

value chain management

Question 49

The ways that organizational work is done

Answer 49

organizational processes

Question 50

Proprietary information that's critical to an organization's efficient and effective functioning and competitiveness

Answer 50

intellectual property

Question 51

The ability of a product or service to reliably do what it's supposed to do and to satisfy customer expectations

Answer 51

quality

Question 52

A series of international quality management standards that set uniform guidelines for processes to ensure products conform to customer requirements

Answer 52

ISO 9000

Question 53

A quality program designed to reduce defects and help lower costs, save time, and improve customer satisfaction

Answer 53

Six Sigma

Question 54

Providing customers with a product when, where, and how they want it

Answer 54

mass customization

Question 55

An organization that understands what customers want, identifies customer value by analyzing all activities required to produce products and then optimizes the entire process from the customer's perspective

Answer 55

lean organization