Semester Review
These are the 3 basic levels of management.
What are top management, middle management, and first-line management?
A form of business that combines and transforms resource inputs into tangible outcomes.
What is manufacturing?
The federal government created this prestigious award given annually to U.S. firms that achieve major quality improvements.
What is the Malcom Baldridge Award?
The economic measure of efficiency that summarizes what is produced relative to resources used to produce it.
What is productivity?
Those who pay money to acquire an organization's products or services.
What are customers?
These are the 4 basic functions of management.
What are Planning, Organizing, Leading, and Controlling?
A form of business that transforms resources into an intangible out put and creates time or place utility for its customers.
What is a service organization?
Is the comprehensive evaluation of all work activities, materials flows, and paperwork to determine the value that they add for customers. It can reveal wasteful or unnecessary activities that can safely be eliminated.
What is Value-added analysis?
A ratio of outputs to inputs (resources). It serves as an overall indicator of how well an organization uses all of its resources to create its products and services.
What is Total Factor Productivity?
These consist of other organizations that compete for the same resources.
What are competitors?
These are standards of behavior that guide individual managers in their work.
What are managerial ethics?
This is the total set of managerial activities used by an organization to transform resource inputs into products, services, or both.
What is Operations Management?
Involves evaluating products during production so that needed changes can be made.
What is In-process sampling?
The total level of productivity achieved by a country.
What is aggregate productivity?
This act requires CEOs to vouch personally for the truthfulness and fairness of their firm's financial disclosures and imposes tough new measures to deter and punish corporate and accounting fraud and corruption.
What is the Sarbanes-Oxley Act of 2002?
This is an agreement between Canada, Mexico, and the US to promote trade with one another.
What is the North American Free Trade Agreement (NAFTA)?
This is a relatively new approach that is used when families of products can follow similar flow paths.
What is a cellular layout?
This organization sets quality standards.
What is the International Organization for Standardization?
This is an area that companies can invest that could lead to improved operations?
What is research and development?
These entities buy products from manufacturers or other producers and then sell them to retailers.
What are wholesalers?
This is the federal agency that enforces employment-related laws.
What is the Equal Employment Opportunity Commission (EEOC)?
Is the process of managing operations control, resource acquisition and purchasing, and inventory so as to improve overall efficiency and effectiveness.
What is Supply Chain Management?
What are the 5 basic dimensions of TQM?
This ratio uses only one category of input (e.g., labor) instead of all of them.
What is a partial productivity ratio?
This act forbids discrimination on the basis of disabilities and requires employers to provide reasonable accommodations for disabled workers.
What is the Americans with Disabilities Act (ADA)?