chapter 14 management

the use of rules, regulations, and authority to guide performance

control based on the use of pricing mechanisms and economic information to regulate activities within organizations

expected performance for a given, a target that establishes a desired performance level, motivates performance, and serves as a benchmark against which actual performance is assessed

a managerial principled stating that control is enhanced by concentrating on the exceptions to or significant deviations from the expected result or standard

the control process used before operations begin, including policies, procedures, and rules designed to ensure that planned activities are carried out properly

the control process used while plans are being carried out, including directing, monitoring, and fine tuning activities as they are performed

control that focuses on the use of information about previous results to correct deviations from the acceptable standard

an evaluation of the effectiveness and efficiency go various systems within an organization

an evaluation conducted by one organization, such as a spa from, on another

a periodic assessment of a company owning planning, organizing, leading, and controlling processes

the process of investigating what is being done and comparing the results with the corresponding budget data to verify accomplishments or remedy differences also called budgetary controlling

procedures used to verify accounting reports and statements

a method of cost accounting designed to identify streams of activity and then to allocate costs across particular business processes according to the amount of time employees devote to particular activities

a report that shows the financial picture of a company at a given time and itemizes assets, liabilities, and stockholders equity

the values of the various items the corporations owns

the amounts a corporation owes to various creditors

an itemized financial stamens of the income and expenses of a company operation

a liquify ratio that indicated the extent to which short term assets can decline and still be adequate to pay short term liabilities

a leverage ratio that indicates the company ability to meet its long term financial obligations

a ratio of profit to capital used, or a rate of return from capital

focusing on short term earnings and profits at the expenses of longer term strategic obligations

control system combining for sets of performance measure, financial, customer, business process, and learning and growth

price charged by one unit for a good or service provided to another unit within the organization

any process that directs the activities of individuals toward the achievement of organizational goals