Glossary

are specified sets of behavior within a product.

is the right to perform, give orders and commands for others.

is a control tool that summarizes the various levels of profit or loss associated with various levels of production.

is a control tool that outlines how funds will be obtained and spent in a given period.

is a computerized technique for designing new products or modifying existing ones.

is a technique that employs computers to plan and program equipment used in the production and inspection of manufactured items.

 is making something happen the way it was planned to happen.

 is the process managers go through to control. It is a systematic effort to compare performance to predetermined standards, plans, or objectives to determine whether performance is in line with those standards or needs to be corrected.

refers to control that takes place when work is being performed.

is managerial activity aimed at bringing organizational performance up to the level of performance standards.

is a choice made between two or more available alternatives.

is a graphic decision making tool typically used to evaluate decisions involving a series of steps.

refers to control that concentrates on the past organizational performance.

is a scheduling tool composed of a bar chart with time on the horizontal axis and the resources to be scheduled on the vertical axis. It is used for scheduling resources.

 is a planning tool used to predict future environmental happenings that will influence the operation of the organization.

is a technique for reducing inventories to a minimum by arranging for production components to be delivered to the production facility, Just in time to be used.

 is the process of reaching organizational goals by working with and through people and other organizational resources.

is an operational plan that specifies the operational activities of an organization.

is a specific action proposed to help the organization achieve its objectives.

 is the process of determining how the management system will achieve its objectives. In other words, it determines how the organization can get where it wants to go.

is a standing plan that furnishes broad guidelines for channeling management toward taking action consistent with reaching organizational objectives.

refers to the control that takes place before work is being performed.

is a single use plan designed to carry out a special project in an organization.

program evaluation and review technique – is a scheduling tool that is essentially a network of project activities showing estimates of time necessary to complete each activity and the sequence of activities that must be followed to complete the project.

is a control tool that summarizes the financial position of an organization by calculating ratios based on various financial measures.

is a standing plan that designates specific required action.

is the level of activity established to serve as a model for evaluating organizational performance.

 is a strategy development tool that matches internal organizational strengths and weakens with external opportunities and threats.

 of a plan is the length of time the plan covers.