Create an account
a regulatory process of establishing standards to achieve organizational goals, comparing actual performance to the standards, and taking corrective action when necessary
1)establishment of clear standards
2)involves a comparison of performance to those standards
3)takes corrective action, if needed, to repair performance deficiencies
4)is a dynamic, cybernetic process
5)uses three basic methods- feedback, control, concurrent control, and feedforward control
6)control isn't always worthwhile or possible
the basis of comparison for measuring the extent to which various kinds of organizational performance are satisfactory or unsatisfactory
the process of identifying outstanding practices, processes, and standards in other companies and adapting them to your company
a mechanism for gathering information about performance deficiencies after they occur
a mechanism for gathering information about performance deficiencies as they occur thereby eliminating or shortening the delay between performance and feedback
a mechanism for monitoring performance inputs rather than outputs to prevent on minimize performance deficiencies before they occur
the extent to which it is possible to implement each step in the control process
the use of hierarchical authority to influence employee behavior by rewarding or punishing employees for compliance or noncompliance with organization policies, rules, and procedures
the use of observable measures of worker behavior or outputs to assess performance and influence behavior
the regulation of workers' behavior and decisions through widely shared organizational values and beliefs
the regulation of workers' behavior and decisions through work group values and beliefs
a control system in which managers and workers control their own behavior by setting their own goals, monitoring their own progress, and rewarding themselves for goal achievement
measurement of organizational performance improvement in one part of an organization at the expense of decreased performance in another part
cash flow analysis
a type of analysis that predicts how changes in a business will affect its ability to take in more cash than it pays out
accounting statements that provide a snapshot of a company's financial position at a particular time
accounting statements, also called "profit-and-loss statements" that show what has happened to an organization's income, expenses, and net profit over a period of time
calculations typically used to track a business's liquidity(cash), efficiency, and profitability over time compared to other businesses in its industry
quantitative plans through which managers decide how to allocate available money to best accomplish company goals
economic value added
the amount by which company profits (revenues minus expenses, minus taxes) exceed the cost of capital in a given year
a performance assessment in which companies identify which customers are leaving and measure the rate at which they are leaving
Please allow access to your computer’s microphone to use Voice Recording.
Having trouble? Click here for help.
We can’t access your microphone!
Click the icon above to update your browser permissions and try again
Reload the page to try again!Reload
Press Cmd-0 to reset your zoom
Press Ctrl-0 to reset your zoom
It looks like your browser might be zoomed in or out. Your browser needs to be zoomed to a normal size to record audio.
Please upgrade Flash or install Chrome
to use Voice Recording.
For more help, see our troubleshooting page.
Your microphone is muted
For help fixing this issue, see this FAQ.
Star this term
You can study starred terms together