Exam 18: Managing Quality and Performance

Net income divided by sales is the correct formula for calculating

Which of the following is a comprehensive management control system that balances traditional financial measures with operational measures relating to a company's critical success factors?

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

Discuss the positive and negative factors that can influence the success of a TQM program.

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

Managers must rely on quantitative measures and ____ in order to exert effective control, in most organizations.

An organization wide commitment to infusing quality into every activity through continuous improvement is called ____________________.

The ____________________ estimates receipts and expenditures of money on a daily or weekly basis to ensure that an organization has sufficient cash to meet its obligations.

A standard for performance is included in an organization's overall strategic plan to compare organizational activities against.

A control system that measures performance in terms of after-tax profits minus the cost of capital invested in tangible assets is called the ____________________.

Which of the following allows employees to see for themselves the financial condition of the company?

The systematic process through which managers regulate organizational activities is known as ____________________.

Decentralized control is most consistent with which of the following budget processes?

It seems that once a year the managers of Stone Construction, Inc. attempt a major organization intervention, such as management-by-objectives. They never seem to be satisfied with the performance of Stone Construction and, sure enough, 12 months later, along comes another major intervention. By implementing organizational change in this way, Stone Construction's management may well be violating the principle of

What is the key to successful benchmarking?

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

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

____________________ control uses cultural values, traditions, shared beliefs, and trust to generate compliance with organizational goals.

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

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