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37問 • 2年前

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- a management function that involves inspiring and influencing people in the organization to achieve a common goal

Leading

serve as control points for strategic control-a systematic monitoring at control points that leads to change in the organization's strategies based on assessments done on the said strategic plans. Control provides a chance for comparing the plan's intended goals with the actual organizational performance. This becomes the basis for modifications in the firm's strategies.

Strategic plans

- the process of working with and through others to achieve organizational objectives efficiently and ethically amid constant change. It also deals with planning, organizing, staffing, leading, and controlling

Managing

_____(2005) gave three types of benchmarking: a.) strategic benchmarking which compares various strategies and identifies the key strategic elements of success; b.) operational benchmarking which compares relative costs or possibilities for product differentiation; and c.) management benchmarking which focuses on support functions such as market planning and information systems, logistics, and human resource management, among others.

Weihrich and Koontz

pertains to the unique combination of physical and mental characteristics that affect how individuals react to situations and interact with others, and if unhealthy or not fully functioning could cause con- flicts/problems among individuals. a It C

Personality

According to _________(2009), "research has shown that five basic personality dimensions underlie all others and encompass most of the significant variation in human personality." 1

Robbins and Coulter

what are the five basic personality dimensions

extraversion agreeableness conscientious emotional stability openess to experience

- the degree to which someone is sociable, talkative, and assertive

Extraversion

- the degree to which someone is good natured, cooperative, and trusting

Agreeableness

- the degree to which someone is responsible, dependable, persistent, and achievement-oriented

Conscientiousness

- the degree to which someone is calm, enthusiastic, and secure (positive), or tense, nervous, depressed, and insecure (negative typer

Emotional Stability

- the degree to which someone is imagi- native, artistically sensitive, and intellectual neg

Openness to experience

- refers to employee behavior that exceeds work role requirements and also behaviors that go beyond the call of duty. Liations becomes easy for managers and leaders when

Organizational Citizenship Behavior (OCB)

refers to the extent to which an individual employee identifies with an organization and its goals.

Organizational Commitment -

- job satisfaction refers to employ- ees' general attitude toward their respective jobs.

Job Satisfaction and Productivity

. According to the _________, cited by Robbins and Coulter (2009), "Managers believed that happy workers were productive workers." Some researchers expressed doubts about this statement; however, there were those who said that "the correlation between job satisfaction and productivity is fairly strong. Organizations with more satisfied employees tend to be more effective than organizations with fewer satisfied employ- ees." Therefore, managers are advised to find ways and means to make their employees happy at work.

Hawthorne Studies

- a management function involves ensuring the work performance of the organization's members are aligned with the organization's values and standards through monitoring, comparing, and correcting their actions

Controlling

- any established measure of extent quantity, quality, or value

Standard

_______ makes sure that the firm's operating cash flow is sufficient, efficient, and, if possible, profitable when invested.

Management control

_____means setting criteria for performance. Man- agers must identify priority activities that have to be controlled, followed by determining how these activities must be properly sequenced. In doing

Establishing standards

________ is essentially the monitoring of performance. To be able to do this, managers must develop appropriate information systems which will help them identify, collect, organize, and disseminate information. Managers are able to control facts and figures called data, and information, which have been given meaning and considered to have value. Analyses of data/information gathered measure actual performance and comparing it with set standards serves as a means for detecting deviations. Deviations must be revealed as early as possible in order to correct them.

Measuring and reporting actual performance and comparing it with set standards

_____involves the correction of deviations from set stan- dards. This activity clearly shows the control function of management. Managers may rectify deviations by modifying their plans or goals, by improving the training of employees, by firing inefficient subordinates, or by practicing more effective leadership techniques.

Taking action

- control that makes use of balance sheets, income statements, cash flow statements to analyze and examine financial statements in order to determine the company's financial soundness and viability, as well as financial ratios to determine the organization's stability

Management Control

- a systematic monitoring at control points in strategic plans that may tend to change in the organization's strategies

strategic Control

- business environment that includes or considers economic aggregates such as national income, total volume of savings, and money supply

Macroeconomic Environment

Sales is considered to be the "_______." No matter how good the product is, if it is not sold in the market, there is no way that a business can survive. Thus, the projected sales often guide the sales

lifeblood of the business

. - tests the organization's ability to meet short term obligations; it may also refer to acid tests done when inventories turn over slowly or are difficult to sell. Wo

Liquidity ratio

current ratio = current assets current liabilities

- determines if the organization is technically insol- vent, meaning that the organization's financing is mainly coming from borrowed money or from the owners' investments.

Leverage ratio

debt-to-assets ratio = total debt ÷ total assets

- determines if the organization is carrying more inventory than what it needs; the higher the ratio, the more efficiently inventory assets are being used.

Activity ratio

inventory turnover = cost of goods sold ÷ average inventory

- determines the profits that are being generated;

Profitability ratio

return on investment = net profit after taxes ÷ total assets

asset management

inventory turnover = sales + average inventory

________serve as control points for strategic control-a systematic monitoring at control points that leads to change in the organization's strategies based on assessments done on the said strategic plans. Control provides a chance for comparing the plan's intended goals with the actual organizational performance. This becomes the basis for modifications in the firm's strategies.

Strategic plans

is an approach or process of measuring a company's own services and practices against those of recognized leaders in the indus- try in order to identify areas for improvement. It is a widely used and well-accepted approach because it helps organizations gather data and information against which performance can be measured and controlled.

Benchmarking

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Shekinah Bismonte · 58問 · 2年前

2.1