study guide test 3

study guide test 3 - 1. How do you pair executive types?...

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1. How do you pair executive types? 304 a. Executives with a particular mix of skills and experiences may be classified as an executive type and paired with a specific corporate strategy. 2. How do you evaluate and control performance? 328-330 a. The evaluation and control process ensures that a company is achieving what it set out to accomplish. It compares performance with desired results and provides feedback necessary for management to evaluate results and take corrective action, as needed. This process can be viewed as a 5-step feedback model: 1-Determine what to measure 2-Establish standards of performance 3-Measure actual performance 4-Compare actual performance with standard 5-Take corrective action 3. What is a program? 274 a. A statement of activities or steps needed to accomplish a single-use plan in strategy implementation. 4. How do you measure success in a standard cost center? 342 a. Standard cost centers are primarily used in manufacturing facilities. Standard costs are computed for each operation on the basis of historical data. In evaluating the center’s performance, its total standard costs are multiplied by the units produced. The result is the expected cost of production, which is then compared to the actual cost of production. 5. Why should managers of all levels participate in strategy formulation? 273 a. Involving people from all organizational levels in the formulation and implementation of strategy tends to result in better organizational performance. 6. What are steering controls used for?332 a. Measures of variables that influence future profitability. 7. What is benchmarking? 344 a. The process of measuring products, services, and practices against those of competitors or companies recognized as industry leaders. 8. Principles of reengineering? 289 a. Reengineering is the radical redesign of business processes to achieve major gains in cost, service or time. Michael hammer, who popularized reengineering, suggests the following principles for reengineering: i. Organize around outcomes, not tasks ii. Have those who use the output of the process perform the process iii. Subsume information-processing work into real work that produces the information
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iv. Treat geographically dispersed resources as though they were centralized v. Link parallel activities instead of integrating their results vi. Put the decision point where the work is performed and build control into the process vii. Capture information once and at the source 9. What structure is a non-structure? 287 a. The network structure is an example of what could be termed a “non-structure” because of its virtual elimination of in-house business functions. Many activities are outsourced.
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This note was uploaded on 11/30/2010 for the course MGMT 464 taught by Professor Cappel during the Fall '10 term at S.E. Louisiana.

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study guide test 3 - 1. How do you pair executive types?...

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