Exam 19: Managing Quality and Performance

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.

_____ provide the basic information used for financial control of an organization.

A group of six to twelve volunteer employees who meet regularly to discuss and solve problems affecting their common work activities refers to a quality team.

A budgeting process in which middle and lower-level managers set departmental budget targets in accordance with overall company revenues and expenditures specified by top management is called _____ budgeting.

The continuous process of measuring products, services, and practices against major competitors or industry leaders is called _____.

Which of the following is a quality control approach that emphasizes a relentless pursuit of higher quality and lower costs?

Which of these is a financial budget that estimates cash flows on a daily basis or weekly basis to ensure that the company can meet its obligations?

A(n) _____ lists forecasted and actual revenues of the organization.

The capital budget lists planned investments in major assets such as buildings, heavy machinery, or complex information technology systems.

An activity ratio that measures how many times the inventory is turned over to meet the total sales figure is called the inventory turnover.

Sharing financial information and results with all employees in the organization is called _____ management.

The _____ ratio refers to the ability of the organization to meet its current debt obligation.

_____ is(are) most beneficial when employees have challenging jobs.

Which of the following is the process of measuring your organizational process against the best in the industry?

Quality circles are based on the assumption(s) that:

Closed-book management helps employees appreciate why efficiency is important to the organization's success as well as their own.

Compare hierarchical control with decentralized control.

When _____ deviates from a(n) _____, managers must interpret the deviation.

The return on total assets (ROA) is an activity ratio that is the percentage returned to investors on total assets.

A budgeting process in which lower-level managers budget their departments' resource needs and pass them up to top management for approval is called _____ budgeting.