QUIZLET Unit 5: Controlling Flashcards
(235 cards)
1
Q
Refers to the systematic process of regulating organizational activities to make them consistent with the expectations established in plans, targets, and standards of performance.
A
Organization Control
2
Q
Effectively controlling an organization requires information about ____________________ and __________________, as well as actions taken to correct any deviations from the standards.
A
performance standards; actual performance
3
Q
Involves measuring, restraining and correcting performance to accomplish an objective as it was planned.
A
Controlling
4
Q
Controlling involves ________________, __________________, and _________________ performance to accomplish an objective as it was planned.
A
measuring, restraining, and correcting
5
Q
It involves the measurement of certain elements such as time, quality, quantity and cost against standards or models which have been established, and the evaluation of the work or performance of various personnel in the organization.
A
Controlling
6
Q
What are measured in controlling? (4)
A
- Quantity
- Quality
- Cost
- Time
7
Q
A good control system should.. (4)
A
○ Be flexible so managers can respond as needed
○ Provide accurate information about the organization
○ Provide information in a timely manner, and
○ Encourage each employee to exercise self-control
8
Q
Degree of willingness of the employees to perform the job even if the managers are not monitoring or imposing performance.
A
Self-control
9
Q
What are the three types of control?
A
- Input Stage
- Conversion Stage
- Output Stage
10
Q
Identify the type of control described:
Feedforward Control
A
Input Stage
11
Q
Identify the type of control described:
Also called Preventive Control
A
Input Stage
12
Q
Identify the type of control described:
Anticipate problems before they occur
A
Input Stage
13
Q
Identify the type of control described:
Active anticipation of problems and their timely prevention rather than after the reaction.
A
Input Stage
14
Q
Identify the type of control described:
Preventive maintenance of machines conducted at a regular schedule date to maintain good functioning of the equipment
A
Input Stage
15
Q
Identify the type of control described:
Concurrent Control
A
Conversion Stage
16
Q
Identify the type of control described:
Also called Real Time Control
A
Conversion Stage
17
Q
Identify the type of control described:
Manage problems as they occur
A
Conversion Stage
18
Q
Identify the type of control described:
Deals with the present rather than the future or past happenings of the problem
A
Conversion Stage
19
Q
Identify the type of control described:
Feedback Control
A
Output Stage
20
Q
Identify the type of control described:
Manage problems after they have arisen
A
Output Stage
21
Q
Identify the type of control described:
Involves the checking of a completed activity or work
A
Output Stage
22
Q
Identify the type of control described:
Learning from mistakes
A
Output Stage
23
Q
Identify the type of control described:
Corrective in nature
A
Output Stage
24
Q
This model involves using feedback to determine whether performance meets established standards.
A
Feedback Control Model
25
The feedback control model includes four key steps. What are those?
○ Establish standards
○ Measure performance
○ Compare performance to standards
○ Make corrections as necessary
26
What are the four steps in controlling?
1. Determination of the standards or basis of control based on appraisal of past experience.
2. Measurement of performance by observation, reports or statistical data.
3. Comparison of performance with the standards, models or criteria to determine deviations or difference.
4. Enactment of remedial measures or steps to correct deviation or errors.
27
Performance standard must be expressed in _________________ terms whenever possible
quantitative
28
It may mean the average unit of output an average employee may be able to perform per hour, per day or per week.
Performance Standard
29
True or False: Provide the employee with specific performance expectations that must be met to be appraised at a particular level of duty
True
30
Makes use of measures such as quantity, quality, and timeliness
Performance standard
31
Performance standard makes used of measures such as... (3)
- Quantity
- Quality
- Timeliness
32
What concept is described below:
A laboratory technician prepares laboratory reagents, cultures, and solutions. All of these are prepared with extreme accuracy and stored appropriately. All specified safety regulations are followed and stocks are kept in supply.
Performance Standard
33
Addresses how quickly, when or by what date the work is produced
Timeliness
33
Addresses how well the work is performed and/or how accurate or how effective the final product is.
Quality
34
What are the two types of control in terms of leadership methods?
- Hierarchical Control
- Decentralized Control
35
Identify if the statement below pertains to Hierarchical Control or Decentralized Control.
Definition: Involves monitoring and influencing employee behavior through extensive use of rules, policies, hierarchy of authority, written documentation, reward systems, and other formal mechanisms.
Hierarchical Control
36
Identify if the statement below pertains to Hierarchical Control or Decentralized Control.
Definition: In organizations foster compliance with organizational goals through the use of organizational culture, group norms, and a focus on goals rather than rules and procedures.
Decentralized Control
37
Identify if the statement below pertains to Hierarchical Control or Decentralized Control.
Basic Assumptions: People are incapable of self-discipline and cannot be trusted. They need to be monitored and controlled closely.
Hierarchical Control
38
Identify if the statement below pertains to Hierarchical Control or Decentralized Control.
Basic Assumptions: People work best when they are fully committed to the organization.
Decentralized Control
39
Identify if the statement below pertains to Hierarchical Control or Decentralized Control.
Uses detailed rules and procedures; formal control systems.
Hierarchical Control
40
Identify if the statement below pertains to Hierarchical Control or Decentralized Control.
Uses top-down authority, formal hierarchy, position, power, quality control inspectors.
Hierarchical Control
41
Identify if the statement below pertains to Hierarchical Control or Decentralized Control.
Relies on specific task-related job descriptions.
Hierarchical Control
42
Identify if the statement below pertains to Hierarchical Control or Decentralized Control.
Features limited use of rules; relies on values, group and self-control, selection, and socialization.
Decentralized Control
43
Identify if the statement below pertains to Hierarchical Control or Decentralized Control.
Relies on flexible authority, flat structure, expert power; everyone monitors quality.
Decentralized Control
44
Identify if the statement below pertains to Hierarchical Control or Decentralized Control.
Relies on result-based job descriptions; emphasizes goals to be achieved.
Decentralized Control
45
Identify if the statement below pertains to Hierarchical Control or Decentralized Control.
Features rigid organizational culture distrust of cultural norms as means of control.
Hierarchical Control
46
Identify if the statement below pertains to Hierarchical Control or Decentralized Control.
Individual employees are given extrinsic rewards (pay, benefits, status).
Hierarchical Control
47
Identify if the statement below pertains to Hierarchical Control or Decentralized Control.
Methods define explicit rules, policies, and procedures for employee behavior.
Hierarchical Control
48
Identify if the statement below pertains to Hierarchical Control or Decentralized Control.
Control relies on centralized authority: the formal hierarchy and closed personal supervision
Hierarchical Control
49
Identify if the statement below pertains to Hierarchical Control or Decentralized Control.
Responsibility for quality control rests with quality control inspectors and supervisors rather than employees.
Hierarchical Control
50
Who does the quality control in a hierarchical control?
Inspector or Supervisor
51
Who does the quality control in a decentralized control?
Employees
52
Identify if the statement below pertains to Hierarchical Control or Decentralized Control.
Managers define minimal standards for acceptable employee performance.
Hierarchical Control
53
Identify if the statement below pertains to Hierarchical Control or Decentralized Control.
Emphasizes extrinsic and intrinsic rewards (meaningful work, opportunities for growth).
Decentralized Control
54
Identify if the statement below pertains to Hierarchical Control or Decentralized Control.
Features adaptive culture; culture recognized as means for uniting individuals, team, and organizational goals for overall control
Decentralized Control
55
Identify if the statement below pertains to Hierarchical Control or Decentralized Control.
Consequence: Employees follow instructions and do just what they are told.
Hierarchical Control
56
Identify if the statement below pertains to Hierarchical Control or Decentralized Control.
Consequence: Employees feel a sense of indifference toward work.
Hierarchical Control
57
Identify if the statement below pertains to Hierarchical Control or Decentralized Control.
Consequence: Employee absenteeism and turnover is high.
Hierarchical Control
58
Identify if the statement below pertains to Hierarchical Control or Decentralized Control.
Consequence: Employees rarely participate in the control process with any participation being formalized through mechanisms such as grievance procedures.
Hierarchical Control
59
Identify if the statement below pertains to Hierarchical Control or Decentralized Control.
Consequence: Employees take initiative and seek responsibility.
Decentralized Control
60
Identify if the statement below pertains to Hierarchical Control or Decentralized Control.
Consequence: Employees are actively engaged and committed to their work.
Decentralized Control
61
Identify if the statement below pertains to Hierarchical Control or Decentralized Control.
Consequence: Employees are actively engaged and committed to their work.
Decentralized Control
62
Total Quality Management is what type of control approach?
Decentralized
63
This focuses on teamwork, increasing customer satisfaction, and lowering costs.
Total Quality Management
64
Total Quality Management focuses on _____________, _________________, and _________________.
- teamwork
- increasing customer satisfaction
- lowering costs
65
Organizations implement this by encouraging managers and employees to collaborate and suppliers, to identify areas for improvement, no matter how small.
Total Quality Management
66
The rationale of this is "each quality improvement is a step toward perfection and meeting a goal of zero defects."
Total Quality Management
67
Quality control becomes part of the day-to-day business of every employee rather than being assigned to specialized departments.
Total Quality Management
68
What are the 5 Total Quality Management techniques?
- Quality Circles
- Benchmarking
- Six Sigma
- Quality Partnering
- Continuous Improvement
69
Offer one technique for implementing TQM and include groups of 6 to 12 volunteer employees who meet regularly to discuss and solve problems affecting the quality of their work.
Quality Circles
70
The continuous process of measuring products, services, and practices against major competitors or industry leaders.
Benchmarking
71
Quality control approach that emphasizes a relentless pursuit of higher quality and lower costs
Six Sigma
72
Involves assigning dedicated personnel within a particular functional area of the business to identify opportunities for improvement throughout the work process.
Quality Partnering
73
The implementation of a large number of small, incremental improvements in all areas of the organization on an ongoing basis.
Continuous Improvement
74
Continuous Improvement is also called....
Kaizen
75
True or False: The tools of quality control and improvement should be used in an organized fashion by firms or organizations.
True
76
True or False: Tools by themselves will not lead to improvement they need to be incorporated into an improvement approach such as the six sigma.
True
77
This approach can be applied to processes in manufacturing, service, or administrative areas.
Six Sigma Concept
78
The Six Sigma approach can be applied to processes in ______________, _________________, and _________________ areas.
Manufacturing, Service, or Administrative
79
It is a systematic method for process improvement that often uses the five steps defined by the acronym DMAIC.
Six Sigma Concept
80
What are the 5 steps in the Six Sigma Concept?
1. Define
2. Measure
3. Analyze
4. Improve
5. Control
80
How many steps are involved in the Six Sigma Concept?
6
81
What step in the Six Sigma is described below:
The process is selected for improvement, and the project charter is specified
Define
82
What step in the Six Sigma is described below:
Define the problem and the objectives
Define
83
What step in the Six Sigma is described below:
Quality variables valued by the customer are measured, and goals are set for improvement
Measure
84
What step in the Six Sigma is described below:
What do we need to improve?
Measure
85
What step in the Six Sigma is described below:
Can we measure this
Measure
86
What step in the Six Sigma is described below:
The root causes of the current defect levels are identified, and alternatives are considered for process changes
Analyze
87
What step in the Six Sigma is described below:
Analyze the process
Analyze
88
What step in the Six Sigma is described below:
Define factors of influence
Analyze
89
What step in the Six Sigma is described below:
The process is changed and checked for improvement
Improve
90
What step in the Six Sigma is described below:
Identify and implement improvements
Improve
91
What step in the Six Sigma is described below:
This step uses a control chart or measurements to ensure that the process improvement is not lost over time
Control
92
What step in the Six Sigma is described below:
Assure that improvements will sustain
Control
93
What is used in the Control Step?
Control Chart
94
Once a process is selected for improvement, a ______________________ is formed since most processes cut across functional lines.
Cross-functional team
95
A full-time trained process improvement specialist, usually called a ________________ is chosen to lead to improvement team.
"black-belt"
96
Who is hired in the improvement process?
full-time trained process improvement specialist
97
Identify if the statement below pertains to LEAN or SIX SIGMA.
Goal: Understand process flow and eliminate waste
Lean
98
Identify if the statement below pertains to LEAN or SIX SIGMA.
Goal: Improve process capability and eliminate/minimize variation
Six Sigma
99
Identify if the statement below pertains to LEAN or SIX SIGMA.
Application: Primarily high volume processes
Lean
100
Identify if the statement below pertains to LEAN or SIX SIGMA.
Application: Any business process
Six Sigma
101
Identify if the statement below pertains to LEAN or SIX SIGMA.
Approach: Basic principles and "cookbook style" implementation based on accepted practices
Lean
102
Identify if the statement below pertains to LEAN or SIX SIGMA.
Approach: Well understood problem-solving approach relying on statistics (DMAIC or DMADV)
Six Sigma
103
Identify if the statement below pertains to LEAN or SIX SIGMA.
Project Selection: Driven by local supervisor
Lean
104
Identify if the statement below pertains to LEAN or SIX SIGMA.
Project Selection: BPM and Gap Analysis
Six Sigma
105
Identify if the statement below pertains to LEAN or SIX SIGMA.
Length of Projects: 1 week to 2 months
Lean
106
Identify if the statement below pertains to LEAN or SIX SIGMA.
Length of Projects: 2 mos - 6 mos
Six Sigma
107
Identify if the statement below pertains to LEAN or SIX SIGMA.
Infrastructure: Mostly ad-hoc, minimal formal training
Lean
108
Identify if the statement below pertains to LEAN or SIX SIGMA.
Infrastructure: Dedicated resources, broad-based training
Six Sigma
109
Identify if the statement below pertains to LEAN or SIX SIGMA.
Training: Learning by doing
Lean
110
How many quality tools to achieve continuous improvement are there?
7
111
If process is unable to meet customers satisfaction _________________________ or _______________ can be undertaken.
continuous improvement or kaizen
112
The implementation of a large number of small, incremental improvements in all areas of the organization on an ongoing basis.
Continuous Improvement
113
These tools are generally used by small groups of workers or employees along with managers and engineers to control and improve processes
Quality tools to achieve continuous improvement
114
What are the 7 quality control tools?
1. Flow Chart
2. Fishbone Diagram
3. Check Sheet
4. Histogram
5. Pareto Chart
6. Scatter Diagram
7. Control Chart
115
The QC Tool that describe the flow of work and the relationships among steps in the process, and reveal any unnecessary steps and waste that can be eliminated.
Flow Chart
116
Flow Chart describes the flow of work and the relationships among steps in the process, and reveal any _________________ and _______________ that can be eliminated.
unnecessary steps and waste
117
The QC tool that identifies possible problems that need to be investigated via further data collection and analysis.
Flow Chart
118
The QC tool that shows the relationship of factors and variables that might have led to the occurrence of issues.
Fishbone Diagram
119
The QC tool that focuses on cause and effect.
Fishbone Diagram
120
The QC tool that identifies the problem itself, the effect, which is placed on the right side of the diagram.
Fishbone Diagram
121
In the Fishbone Diagram, where is the effect placed?
Right side
122
Fleshes out the various potential causes of the problem that are shown along the spine of the diagram and categorized, for example, as materials, workers, inspection, and tools.
Fishbone Diagram
123
Fleshes out the various potential causes of the problem that are shown along the ___________ of the diagram.
spine
124
125
126
127
128
Contain critical process measurements taken at periodic intervals during the dat and tabulated by the time taken
Check Sheet
128
True or False: The causes of the problem in the fishbone diagram do not need to be categorized.
False
128
New charts with new center lines and upper and lower limits can be created, based on data from the improved process
Control Chart
128
Are data collection done which are put in a tabular list representing collected data about the process
Check Sheet
128
Shows an appearance of a diagram that suggest a fish analogy
Fishbone Diagram
128
Control charts in the laboratory are plotted __________.
daily
128
Show the relationship between two variables
Scatter Diagram
128
Used to tabulate the frequency of certain defects or other quality-related events
Check Sheet
128
Once improvements have been made, the new process should be stabilized to hold the gains by using _____________.
Control Chart
128
These are often used in the clinical laboratories which are plotted daily.
Control Chart
128
If a particular cause and effect are suspected to be related, the relationship will be apparent as a linear or curved pattern on the scatter diagram through this QC tool
Scatter Diagram
128
Histogram is a frequency count using data from....
Check Sheet
128
True or False: The original control chart from before process improvement, will still be appropriate following the improvements.
False
128
Is a frequency count using data from the check sheet to show the form and shape of the distribution of the data
Histogram
129
Indicates that some data points are outliers, or there may be odd shapes to the distribution that indicate skewness or possibly more than one mode or peak in the distribution
Histogram
129
The QC tool that states that a few of the failure modes account for most of the observed defects.
Pareto Diagram
129
Can be constructed to show the most important problems
Pareto Diagram
129
What are the categories under Cost of Quality?
- Appraisal
- Prevention
- Internal Failures
- External Failures
129
He observed that a few items in any population constitute a significant percentage of the entire group-the vital few.
Vilfredo Pareto
129
This law states that a few of the failure modes account for most of the observed defects.
Pareto Law
129
Includes prevention, appraisal, internal failure, and external failure categories
Cost of Quality
129
True or False: Appraisal, Prevention, Internal Failures, External Failures are all a cost of not doing things right the first time.
False
(Prevention is not included)
129
True or False: When a cost is assigned to poor quality, it can be managed and controlled like any other cost.
True
129
A powerful idea in the area of control and quality is to calculate the...
Cost of Quality
130
The cost of quality may be divided into 2 components. What are those?
- Control Cost
- Failure Cos
131
Are related to activities that remove defects from the production stream
Control Costs
132
Control Costs may be done through what ways? (2)
- Prevention
- Appraisal
133
These are control costs with activities mostly occurring before production and are aimed at preventing defects before they occur.
Prevention Costs
134
The control cost that aims to eliminate defects after they occur but before the products or services reach the customer
Appraisal Costs
135
Determine if the aspect is under PREVENTION COSTS or APPRAISAL COSTS.
Quality Planning
Prevention Costs
136
Determine if the aspect is under PREVENTION COSTS or APPRAISAL COSTS.
New Product Review
Prevention Costs
137
Determine if the aspect is under PREVENTION COSTS or APPRAISAL COSTS.
Training
Prevention Costs
138
Determine if the aspect is under PREVENTION COSTS or APPRAISAL COSTS.
Quality Data
Prevention Costs
139
Determine if the aspect is under PREVENTION COSTS or APPRAISAL COSTS.
Process Planning
Prevention Costs
140
Determine if the aspect is under PREVENTION COSTS or APPRAISAL COSTS.
Improvement projects
Prevention Costs
141
Determine if the aspect is under PREVENTION COSTS or APPRAISAL COSTS.
Incoming materials inspection
Appraisal Costs
142
Determine if the aspect is under PREVENTION COSTS or APPRAISAL COSTS.
Process inspection
Appraisal Costs
143
Determine if the aspect is under PREVENTION COSTS or APPRAISAL COSTS.
Final goods inspection
Appraisal Costs
144
Determine if the aspect is under PREVENTION COSTS or APPRAISAL COSTS.
Quality laboratories
Appraisal Costs
145
Goals of preparing an overall plan, numerous specialized plans, quality manuals, procedures.
Quality Planning
146
Review or prepare quality specifications for new products, evaluation of new designs, preparation of tests, and experimental programs, evaluation of vendors, marketing studies to determine customers' quality requirements
New Product Reviewing
147
Developing and conducting training programs
Training
148
Designing and developing process control devices
Process Planning
149
Collecting data, data analysis, reporting
Quality Data
150
Manned failure investigations aimed at correcting quality problems
Improvement Projects
151
The cost of determining quality of incoming raw materials
Incoming materials inspection
152
All facts, sampling procedures, and inspections done while the product is being made
process Inspection
153
All inspections or tests conducted on the finished product in the plant or the field
Final Goods Inspection
154
The cost of operating laboratories to inspect materials at all stages of production
Quality Laboratories
155
Incurred either during the production process or internal failure or after product is shipped which is external failure costs
Failure Costs
156
Failure in the production process
Internal Failure
157
Failure after product is shipped
External Failure
158
What is the greatest external cost?
The potential loss of customer's confidence in the product or service
159
Identify if the failure cost below is INTERNAL FAILURE or EXTERNAL FAILURE.
Scrap
Internal Failure
160
Identify if the failure cost below is INTERNAL FAILURE or EXTERNAL FAILURE.
Rework
Internal Failure
161
Identify if the failure cost below is INTERNAL FAILURE or EXTERNAL FAILURE.
Downgrading
Internal Failure
162
Identify if the failure cost below is INTERNAL FAILURE or EXTERNAL FAILURE.
Retest
Internal Failure
163
Identify if the failure cost below is INTERNAL FAILURE or EXTERNAL FAILURE.
Downtime
Internal Failure
164
Identify if the failure cost below is INTERNAL FAILURE or EXTERNAL FAILURE.
Warranty
External Failure
165
Identify if the failure cost below is INTERNAL FAILURE or EXTERNAL FAILURE.
Returned Merchandise
External Failure
166
Identify if the failure cost below is INTERNAL FAILURE or EXTERNAL FAILURE.
Returned Merchandise
External Failure
167
Identify if the failure cost below is INTERNAL FAILURE or EXTERNAL FAILURE.
Complaints
External Failure
168
Identify if the failure cost below is INTERNAL FAILURE or EXTERNAL FAILURE.
Allowances
External Failure
169
The cost of labor and materials for product that cannot be used or sold
Scrap
170
The cost of redoing a product that can be made to conform
Rework
171
Product that must be sold at less than full value due to quality problems
Downgrade
172
Cost of inspection and tests after rework
Retest
173
Idle facilities and people due to quality failures
Downtime
174
The cost of refunds, repairing, or replacing products on warranty
Warranty
175
Merchandise that is returned to the seller
Returned Merchandise
176
The cost of resolving customer complaint due to poor quality
Complaint
177
The cost of concessions made to customers due to substandard quality
Allowance
178
One of the most commonly used forms of managerial control
Budgetary Control
178
Many companies have found that by investing in _______________ activities such as training, process planning, and new product review, they can avoid costs that occur after production (in the case of external failure).
prevention
179
This is a tremendous leverage factor. Investing 1 dollar in this form activities generates more than 1 dollar in appraisal.
Prevention
180
It is the process of setting targets for an organization's expenditures, monitoring results and comparing them to the budget, and making changes as needed
Budgetary Control
181
True or False: A budget is created for every division or department within an organization, no matter how small, as long as it performs a distinct project, program, or function).
True
182
Budgetary Control as a control device; budgets are reports that list planned and actual expenditures for ___________________, and other resources. (4)
cash, assets, raw materials, salaries
183
This usually lists the variance between the budgeted and actual amounts for each item.
Budget Report
184
Is defined as any organizational department or unit under the supervision of a single person who is responsible for its activity
A Responsibility Center
185
What are the four types of budget?
- Expense Budget
- Revenue Budget
- Cash Budget
- Capital Budget
186
Identify the type of budget described in the statement below.
Outlines the anticipated and actual expenses for a responsibility center
Expense Budget
187
Identify the type of budget described in the statement below.
May show all types of expenses or it may focus on a particular category such as materials or research and development expenses
Expense Budget
188
Identify the type of budget described in the statement below.
When actual expenses exceed budgeted amounts, the difference signals the need for managers to identify possible problems and take corrective action if needed.
Expenses Budget
188
The difference between the actual expenses and budgeted amount may arise from ______________ or expenses may be higher because the organization's sale are growing faster than anticipated.
inefficiency
189
True or False: Revenues above budget would require determining whether the organization can obtain the necessary resources to meet the higher than expected demand of its products or services
True
190
Identify the type of budget described in the statement below.
Lists forecasted and actual revenues of the organization.
Revenue Budget
190
True or False: Revenues above the budgeted amount signal a need to investigate the problem to see whether the organization can improve revenues.
False
(below)
191
Identify the type of budget described in the statement below.
Estimates receipts and expenditures of money on a daily or weekly basis to ensure that an organization has sufficient cash to meet its obligations
Cash Budget
192
Identify the type of budget described in the statement below.
Shows the level of funds flowing through the organization and the nature of cash disbursement
Cash Budget
193
Identify the type of budget described in the statement below.
A budget that plans and reports investments in major assets to be depreciated over several years
Capital Budget
194
Identify the type of budget described in the statement below.
Lists planned investments in major assets such as building, heavy machinery, complex information technologies system often involving expenditures over more than a year
Capital Budget
195
_____________________ not only have a large impact on future expenses but they are also investments designed to enhance profits
Capital expenditures
196
This has been expanded to refer to the framework of systems, rules, and practices by which an organization ensures accountability, fairness, and transparency in its relationships with all stakeholders, including investors, employees, customers, and the general public
Corporate Governance
197
Traditionally defined as the ways in which an organization safeguards the interest of shareholders
Corporate Governance
197
Managers record, analyze, and discuss these various metrics to determine how well the organization is achieving its strategic goals.
The Four Perspectives in a Balanced Scorecard
198
This is an effective tool for managing and improving performance, but only if it is clearly linked to a well-defined organizational strategy and goals.
Scorecard
199
What are the four perspectives in a balanced scorecard?
- Financial Performance
- Customer Service
- Internal Business Processes
- Potential for Learning and Growth
199
Identify the perspective described below based on the balanced scorecard.
This reflects a concern that the organization's activities contribute to improving short- and long-term financial performance.
Identify the perspective described below based on the balanced scorecard.
This reflects a concern that the organization's activities contribute to improving short- and long-term financial performance.
199
Identify the perspective described below based on the balanced scorecard.
It includes traditional measures such as net income and return on investment.
Financial Performance
200
Identify the perspective described below based on the balanced scorecard.
Measures information such as how customers view the organization and customer retention and satisfaction.
Customer Satisfaction
201
Identify the perspective described below based on the balanced scorecard.
These data may be collected in many forms, including testimonials from customers describing superlative service or from customer surveys
Customer Satisfaction
202
Identify the perspective described below based on the balanced scorecard.
Indicators focus on production and operating statistics.
Internal Business Processes
202
Identify the perspective described below based on the balanced scorecard.
May include fast turn-around-time in releasing results, the use of fully-automated systems to accommodate high-volume samples, and adherence to safety guidelines.
Internal Business Processes
203
Identify the perspective described below based on the balanced scorecard.
Metrics may include things such as employee retention and the introduction of new products
Potential for learning and growth
203
Identify the perspective described below based on the balanced scorecard.
Looks at the organization's potential for learning and growth, focusing on how well resources and human capital are being managed for the company's future
Potential for learning and growth
