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Terms in this set (45)The systematic process of regulating organizational activities to make them consistent with the expectations in plans, targets, and standards of performance refers to organizational control T Customer service, external business processes, financial performances, and the organization's capacity for learning and growth are the four major perspectives of the balanced scorecard. F A standard for performance is included in an organization's overall strategic plan to compare organizational activities against. T . The final step of the feedback control model is to do nothing if performance is adequate or to take corrective action if performance is inadequate. T An expense budget lists forecasted and actual revenues of the organization. F A cash budget estimates receipts and expenditures of money on a daily or weekly basis.. T Bottom-up budgeting is a process in which lower level managers anticipate their department's resource needs and pass them up to top management for approval. T The income statement shows revenues coming into the organization from all sources and subtracts all expenses. T The system of governing an organization so that the interests of corporate owners are protected refers to corporate governance. T The liquidity ratio shows the company's ability to meet its current debt obligations and a measurement of the firm's margin of safety T An activity ratio that measures how many times the inventory is turned over to meet the total sales figure is called the inventory turnover. T A process in which lower level managers anticipate their department's resource needs and pass them to top management for approval is called top-down budgeting. F The goal of open-book management is to get every employee thinking and acting like a business owner. T TQM tends to be most successful when it enriches jobs and improves employee motivation. T An organization-wide commitment to infusing quality into every activity through continuous improvement defines Six Sigma. F The implementation of total quality management involves the use of many techniques such as quality circles, benchmarking, Six Sigma principles, reduced cycle time, and continuous improvement T Continuous improvement is the implementation of a large number of small, incremental improvements in all areas of the organization on an ongoing basis. T Very high expectations from senior management and a desire to share authority by middle managers are two of the positive factors leading to success of TQM. F The certification based on a set of international standards for quality management, setting uniform guidelines for processes to ensure that products conform to customer requirements is the ISO certification. T Most organizations measure and control performance using qualitative financial measures. F The initial cost of implementing the SOX reforms is relatively minor for a small business once it becomes public. F The basic assumption of hierarchical control is that people are incapable of self-discipline and cannot be trusted. T Ophelia, the new CEO at Odyssey Inc., plans to implement a highly effective systematic process of regulating organizational activities to make them consistent with the expectations that are established by managers within the company. This is referred to as _____ control. a. organizational A Ophelia, the new CEO at Odyssey Inc., plans to implement a highly effective systematic process of regulating organizational activities to make them consistent with the expectations that are established by managers within the company. This is referred to as _____ control. a. organizational A In the process of implementing the balanced scorecard approach at his company, operations manager Seth Howard wonders whether internal activities and processes add value for customers and shareholders. This involves which dimension of the balanced scorecard? a. Customers E All well-designed control systems involve the use of _____ to determine whether performance meets established standards. a. opinions E What is the first step in the feedback control system? a. Establishing strategic objectives B According to the control model, after establishing standards of performance the manager should: a. compare performance to standards. C Which of the following includes anticipated and actual expenses for a responsibility center? a. Revenue budget D The _____ plans future investments in major assets to be depreciated over several years. a. capital budget A Stella, a systems manager for a large technology company, would like to get an understanding of her company's financial position with respect to assets and liabilities at the end of the fiscal year. Which financial statement should she refer to? a. Income statement D Brad is a department manager at Home Theater, Inc. His sole role in the budget process is to implement the budget that is developed for him. This is an example of: a. strategic budgeting. C Tammy is a production manager at Eagle's Nest, Inc. She is concerned that too much money is being wasted on inventory that is sitting in the warehouse too long. She should calculate a(n): a. current ratio. B Net income divided by sales is the correct formula for calculating: a. return on total assets. D At LBK Industries, responsibility for quality control rests with a team of quality control inspectors and supervisors rather than with employees. LBK uses what type of organizational control? a. Matrix control B Decentralized control is usually implemented in all of the following areas, except: a. self-control. E Silver n' Gold Inc. recently introduced a new control philosophy where all employees have access to the same information that owners have, such as what money is coming in and where it is going. This is an example of which control philosophy? a. Balanced scorecard E A quality circle is a group of _____ volunteer employees. a. 2 to 4 B Which of the following is the process of measuring your organizational process against the best in the industry? a. Outsourcing D Which of the following is a quality control approach that emphasizes a relentless pursuit of higher quality and lower costs? a.
Continuous improvement D _____ standards represent an international standard for quality management. a. ISO 9000 A Contingency factors that can influence the success of a TQM program in a negative way include all of the following, except: a. tasks make high skill demands on employees. A Which of the following refers to the system of governing an organization so that the interests of corporate owners are protected? a. Quality circle B The highest total number of ISO 9000 certifications is held in: a. the United States. C Which of the following countries has the most secretive economy? a. Russia B Students also viewedChapter 15 Management23 terms JaxsonD30 CHAPTER 1529 terms andrew12348865 Assignment: Chapter 15: Quiz17 terms Baily_Manuppella2 Chapter 1516 terms GregorySti6831 Sets found in the same folderExam 3 Ch 1030 terms peyton_anderson59 Exam 3 Ch 1133 terms peyton_anderson59 Exam 3 Ch 1235 terms peyton_anderson59 Exam 3 Ch 1336 terms peyton_anderson59 Other sets by this creatorFinance 310 Assn 431 terms kaylee_buckingham Finance 310 Assn. 330 terms kaylee_buckingham Finance 310 Assn. 150 terms kaylee_buckingham MGMT Test 1191 terms kaylee_buckingham Verified questions
finance The internal rate of return method is used by Testerman Construction Co, in analyzing a capital expenditure proposal that involves an investment of $113,550 and annual net cash flows of$30,000 for each of the six years of its useful life. b. Using the factor determined in part (a) and the present value of an annuity of $1 table appearing in this chapter (Exhibit 5), determine the internal rate of return for the proposal. Verified answer
politics of the united states Use the letter below to help you answer the following questions. $$ {\begin{array}{l} \text{415 Sleepy Hollow} & \text{ }\\ \text{Roanoke, VA 24022} & \text{ }\\ \text{February $12,2016$} & \text{ }\\ \text{ }\\ \text{The Honorable Jane Doe}\\ \text{The State House}\\ \text{Richmond, VA 23218}\\ \text{ }\\ \text{Dear Representative Doe:}\\ \end{array}} $$ As you know, there is currently a bill before the legislature that would create 3,000 summer jobs for teenagers in our state. I strongly urge you 10 support this bill. Passage of Bill HR 1099 will give many teenagers the chance to earn money for school. It will also provide them with experience for future jobs. Finally, the state stands to benefit from all the work these teenagers will be doing in our parks, hospitals, and civic centers. I would appreciate knowing your position on this important issue. $$ \begin{array}{l} \text{Sincerely yours,} & \text{ }\\ \text{Aaron Campbell} & \text{ }\\ & \text{ }\\ \end{array} $$ What issue is Aaron Campbell concerned about in his letter? Verified answer economics How is the economy impacted by population trends? Verified answer
economics The market for grocery-store baggers is a competitive labor market, as shown in Figure 16P-7. Suppose a new federal law raises the minimum wage to $\$ 10$ per hour. d. What are total labor earnings with enactment of the minimum wage? Verified answer Recommended textbook solutionsInformation Technology Project Management: Providing Measurable Organizational Value5th EditionJack T. Marchewka 346 solutions
Human Resource Management15th EditionJohn David Jackson, Patricia Meglich, Robert Mathis, Sean Valentine 249 solutions
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Service Management: Operations, Strategy, and Information Technology7th EditionJames Fitzsimmons, Mona Fitzsimmons 103 solutions Other Quizlet setsCh 5 Vocab41 terms KyleSelf Romeo and Juliet act 1-3 test65 terms Mayacastillo30 Map Skills, 7 continents and 5 oceans31 terms Michelle_GReco2Teacher Arkansas real estate prep29 terms chlopbryant Which of the following would be considered a basic assumption of hierarchical control?The basic assumption of hierarchical control is that people are incapable of self-discipline and cannot be trusted.
What is the basic assumption of the decentralized control method?In contrast, decentralized control relies on cultural values, traditions, shared beliefs, and trust to foster compliance with organizational goals. Managers operate on the assumption that employees are trustworthy and willing to perform effectively without extensive rules and close supervision.
What is the first step of the feedback control model?Following are the steps in the Feedback control system: 1) Control standards are laid down for monitoring purposes. 2) System to detect deviation from standards. 3) Deviation from standards measurement.
Which of the following refers the process of measuring organizational process against the best in the industry group of answer choices?Benchmarking is the practice of comparing business processes and performance metrics to industry bests and best practices from other companies. Dimensions typically measured are quality, time and cost.
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Which of the following is the basic assumption of hierarchical control quizlet?
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