Final Exam - Chapter 15 Flashcards Preview

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Flashcards in Final Exam - Chapter 15 Deck (10):
1

Controlling

Systematic process through which managers regulate organization activities to meet planned foals and standards of performance

2

Feedback Control Model

ESTABLISH STRATEGIC GOALS

1) Establish standards of performance
2) Measure actual performance
3) Compare performance to standards
- if adequate, do nothing and reinforce
- if inadequate
4) Take corrective action

Feedback occurs between 1 (adjust standards) 2 (adjust performance) 3- 4 or from 3 back to ESTABLISH STRATEGIC GOALS and start again.

3

Controlling Mechanisms

- The Balanced Scorecard
- TQM Management
- Quality Circles
- Benchmarking
- Six Sigma
- Quality Partnering
- Continuous Improvement

4

Balanced Scorecard

Comprehensive management control system that balances traditional financial measures with operational measures relating to a company's critical success factors
Contains 4 perspectives:
- Financial performance
- Customer Performance
- International Business Processes
- Potential for Learning and Growth

5

TQM Management (Total Quality)

AN organization- wide effort to infuse quality into every action in a company through continuous improvement

6

Quality Circles

Group of 6 - 12 volunteer-employees who meet regularly to discuss and solve problems that affect the quality of their work. Free to collect data and surveys. Push decision making into hands of people that do the job and better than anyone else

7

Benchmarking

Continuous process of measuring products, services, and practices against the toughest competitors or those companies recognized as industry leaders to identify areas for improvement.

8

Six Sigma

Highly ambitious quality standard that specifies a goal of no more than 3.4 defects per million parts. Being defect-free 99.9997% of the time. Takes nothing for granted and emphasizes a disciplined and relentless pursuit of higher quality and lower costs.

9

Quality Partnering

Involves assigning dedicated personnel within a particular functional area of the business. work alongside others within a functional area identifying opportunities for quality improvements throughout the work process.

10

Continuous Improvement

Kaizen - Implementation of large number of small, incremental improvements in all areas of the organization to an ongoing basis. improving things a little bit a time all the time has the highest possibility of success.