Detailed steps a unit, department, or team will take in order to achieve short term objectives
Modification of the Constitution or a law; may be either formal (written) or informal (unwritten)
Measurement approach that provides and overall picture of an organization's performance as measured against goals in finance, customers, internal business processes and learning and growth
Break even analysis
Analysis that shows point in time at which total revenue associated with a program is equal to the total costs of the program
Degree to which decision making authority is restricted to higher levels of management in an organization.
Consumer price index (CPI)
Measure of the average change over time in the prices paid by consumers for goods and services
To an operations department, an after the fact evaluation of a company's ability to met its own specifications and its customer's needs
Ratio that allows management to determine the financial impact particular activities and programs will have on a company's profitability.
Degree to which decision-making authority is given to lower levels in an organizations hierarchy
Involves applying specific premises to a given situation to develop certain predictions about or understanding of the situation
Sale by a company of an asset that is not performing well, that is not core to the company's business, or that is worth more as a separate entity.
Organizational structure ion which divisions are separated by product, customer or market, or region
Process of conducting an intensive investigation of a corporation as one of the first steps in a pending merger or acquisition.
Electronic Communication Privacy Act (ECPA)
Act that makes it unlawful to intercept messages in transmission or access stored information on electronic communication services or disclose any of this information
Process that surveys and interprets relevant data to indentify external opportunities and threats
Research in which the researcher controls and manipulates elements of the research environments to measure the impact of each variable
Foreign Corrupt Practices Act (FCPA)
Prohibits American companies from making corrupt payments to foreign officials for the purpose of obtaining or keeping business
Form of budgeting in which an average cost is applied to comparable expenses and general funding is changed by a specific amount
Organizational structure that defines departments by what services they contribute to the organizations overall mission
Project planning tool that graphically displays activities of a project in sequential order and plots them against time
Gross Domestic Product (GDP)
Estimate of the total value of goods and services produced in a country in a given year
Gross Profit margin
Measure the difference between what it costs to product a product and the selling price
Human Resource Information System (HRIS)
Systematic tool for gathering, storing, maintaining, retrieving, and revising HR data
Human resource management (HRM)
Design of formal systems in an organization that ensure the effective and efficient use of human talent to accomplish organizational goals
Specific, testable prediction that is derived from a theory and describes a relationship between two variables
Statement explaining revenues, expenses, and profits over a specified period of time, usually one year or a quarter
Form of budgeting in which the prior budget is the basis for allocation of funds
involves looking at a set of observations and designing a rule that characterizes or explains a pattern underlying the observations
To an operations department, an organizations major asset after physical buildings and equipments
Long term objectives
Specific results, accomplished in three to five years that an organization seeks to achieve in pursuing its mission
Process of planning, pricing, promoting, and distributing goods and services to satisfy organizational objectives
Organizational structure that combines departmentalization by division and finction to gain the benefits of both
serve a purpose similar to short term objectives but are completed in one to three years
Specifies what the company does, who its customers are, and the priorities it has set in pursuing its work.
Expected distribution given a random sampling of people across a large populations
Group of persons or objects or a complete set of observations or measurements about which one wishes to draw conclusions
Program evaluation review technique (PERT chart)
Project management took used to schedule, organize, and coordinate tasks within a project
Series of tasks and activities that has a stated goal and objectives, a schedule with defined state and end dates, and a budget that sets limits on the use of monetary and human resources
Public comment period
time allowed for the public to express its views and concerns regarding an action of a regulatory agency
based on research that uses open-ended interviewing to explore and understand attitudes, opinions, feelings, and behavior
Seeks to obtain easily quantifiable data on a limited number of measurement points
Number of members of an organization that have to be present before official business may be conducted
Request for Proposal (RFP)
Written request asking contractors to propose solutions and process that fit customer's requirements
portion of silent baby boom generations that is simultaneously caring for their own children and one or more elderly family members
To an operations department, the act of detailed planning; based upon incoming orders, order history, and forecasts of future demands
Research method in which certain factors (variables) are manipulated and the results are examined
Milestones that must be achieved, usually within six months to one year, in order to reach long term objectives
Measure that indicates how much scores in a set of data are spread out around a mean or average.
For an operations department, provide the yardstick by which the amount and quality of output are measured.
Processes and activities used to formulate HR objectives, practices, and policies.
Art and science of formulating, developing, implementing, and evaluating cross - functional decisions that enable an organization to achieve its objectives.
Global network that delivers products and services from raw materials to end customers through an engineered flow of information, physical distribution, and cash.
Vehicle for collecting information on an organization's current strengths, weaknesses, opportunities, and threats.
Describe what is important to an organization, dictate employee behavior, and create the organization's culture.
Short-term alliance between independent organizations in a potentially long-term relationship to design, produce, and distribute a product.
Form of budgeting that requires that expenditures be justified for each new period and in which budgets start at zero.
General Agreement of Tariffs and Trade - International agreement setting out the rules of conducting international trade
North American Free Trade Agreement - designed to foster increased trade and investment between Mexico, Canada, and the United States