Exam 19: Managing Quality and Performance

Kyle's work group consistently exceeds the goals the members set for themselves some months ago.In an attempt to better motivate the group,Kyle thought it would be a good idea to set new goals.This is an example of Kyle exercising control by

Benchmarking is the age-old practice of allowing the artisan to sign his name to the finished product.

____ is(are)the difference between assets and liabilities and is the company's net worth in stock and retained earnings.

The ____________________ lists planned investments in major assets such as buildings,trucks,and heavy machinery,often involving expenditures over more than a year.

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

A responsibility center is the fundamental unit of analysis for a budget control system.

A balance sheet budget is a budget that plans and reports investments in major assets to be depreciated over several years.

In a TQM program,what is benchmarking?

Quality circles are based on the assumption(s)that

Scenario - Katrina Aldridge The yearly auditing review of Pilgrim Industries is scheduled for next month.Katrina Aldridge is preparing for that audit and is also preparing her budget for the coming year. -In planning and budgeting for the next 12 months,Katrina is participating in a budgeting process in which lower-level manager's budget their department's resource needs and pass them up to top management for approval.This budget process is an example of

Contingency factors that can influence the success of a TQM program in a positive way include all of the following EXCEPT:

The liquidity ratio shows the company's ability to meet its current debt obligations and a measurement of the firm's margin of safety.

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

Outsourcing is the continuous process of measuring products,services,and practices against the toughest competitors or the industry leaders.

A(n)____________________ is defined as any organizational department or unit under the supervision of a single person who is responsible for its activity.

Continuous improvement is the implementation of a large number of small,incremental improvements in all areas of the organization on an ongoing basis.

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.

All of the following are key steps of setting up feedback control systems EXCEPT

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.

____ indicators focus on production and operating statistics.