Management 4 Test LETS GO FINAL TEST :))))))))) – Flashcards
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Bureaucratically controlled companies:
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have characteristics due to their rule and policy driven decision making, they are highly resistant to change and slow to respond to customer's and competition
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Companies may determine standards by
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listening to customers comments
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How can companies create value for customers?
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simultaneously controlling excellence, price, durability
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Most companies measure performance using standard
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financial and accounting measures
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The balanced scorecard approach to control
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forces managers to set specific goals and measure performance in each four areas
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The basic control process of business begins with
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the establishment of clear standards of performance
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Controlling financial performance does not examine
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customer defections
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The ____________ is the measurement of organizational performance in 4 equally important areas: finances, customers, internal operations, and innovation and learning
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financial, customers, internal operations, and innovation
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The 2 types of objective controls managers use are _____________
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finances, customers, internal operations, and innovation
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____________costs are the costs associated with implementing or monitoring control
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regulation
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Which of the following is not a control method?
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self dealing
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A __________________ is used to project costs and revenues, prioritize and control spending and ensure that expenses don't exceed available funds and revenues
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budget
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The expenses that are incurred in obtaining data that is not available to a company are known as ______________
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acquisition costs
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The manual capture of information is ______________
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labor intensive
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The 2 critical steps required to make sure that data can be assessed by approved users and no one else are _________
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authentication and authorization
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____________ information means transforming raw data into meaningful information that can be applied to business decision making
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processing
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Which of the following statements about knowledge is true?
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knowledge is the understanding that one gains from information
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____________ use standardized protocols to describe and transfer data from 1 company in such a way that that those data can automatically be read, understand, transcribed, and processed by different computer systems in another company
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web services
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_____________, which converted printed text and pictures into digital images, have become an increasingly popular method of capturing data electronically
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electronic scanners
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Downtime and lost efficiency are both examples of _________
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setup costs
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The highest degree of processing occurs in ______________
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make to order processing
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________________ inventories are partially finished goods consisting of assembled component parts
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work in process inventories
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A product's quality is determined by its _________
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durability, reliability, serviceability
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Which of the following statements about productivity is true?
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for companies, high productivity can lead to lower costs
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Which of the following is one of the basic measures of inventory?
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weeks of supply
