Exam 15: Managing Quality and Performance

The __________ lists planned investments in major assets such as buildings, heavy machinery, or complex information technology systems, often involving expenditures over more than a year

Six Sigma is an organization-wide effort to infuse quality into every activity in a company through continuous improvement.

 A __________ ratio indicates an organization's ability to meet its current debt obligations.

How does the balanced scorecard address potential for learning and growth.

The systematic process of regulating organizational activities to make them consistent with the expectations established in plans, targets, and standards of performance refers to organizational control.

Identify and describe four types of budgets.

Discuss open-book management and the balanced scorecard.

ISO certification is based on a set of international standards for quality management.

The income statement shows revenues coming into the organization from all sources and subtracts all expenses.

What is the first step in the feedback control system?

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) _______ ratio.

A __________ is any organizational department or unit under the supervision of a single person who is responsible for its activity.

The process in which lower-level managers anticipate their departments' resource needs and pass them to top management for approval is called top-down budgeting.

According to the control model, after establishing standards of performance, the manager should ______.

The implementation of total quality management involves the use of many techniques such as quality circles, benchmarking, Six Sigma principles, quality partnering, and continuous improvement.

What are three consequences associated with the hierarchical control method?

What is quality partnering and what advantages does it offer over other quality management efforts?

Net income divided by sales yields the _______.

Which ratio tells whether a company has sufficient assets to convert into cash to pay off its debts?

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.