1. Identify and briefly describe the four steps of the feedback control model.
1) Establish standards of performance – Managers set quantifiable standards for service or production goals (increase production, increase sales, reduce accidents, etc…) depending on the service the industry provides.
2) Measure actual performance – Managers regularly review reports of performance standards.
3) Compare performance to standards – Managers determine if actual performance meets, exceeds or falls short of standards and interpret deviation.
4) Take corrective action – Managers determine course of action to correct deviation from standards.
2. Describe the difference between a balance sheet and an income statement.
A balance sheet is a snapshot of a company’s financial position in regards to assets and liabilities at a specific point in time.
An income statement is a summary of a company’s financial performance for a given time interval.
3. Compare hierarchical control with decentralized control.
Hierarchal control is monitoring and influencing employee behavior using rules, policies, hierarchal status, written documentation, rewards and other formal mechanisms. This control method assumes that people are incapable of self-discipline and cannot be trusted. The consequences of this method are employees who follow instructions and do only what they are told, employees feeling a sense of indifference toward work, and high turnover rates or absenteeism.
Decentralized control is when an organization fosters compliance using culture, group norms and a focus on goals rather than rules and procedures. This control method assumes people work best when they are fully committed to the organization. This method results in employees who take initiative and seek responsibility, employees who are actively engaged and committed to their work, and a low turnover rate.
4. What are the positive and negative contingency factors associated with TQM?
Positive Factors:
• Tasks make high skill demands on employees
• TQM serves to enrich jobs and motivate employees
• Problem-solving skills are improved for all employees
• Participation and teamwork are used to tackle significant problems
• Continuous improvement is a way of life
Negative Factors:
• Management expectations are unrealistically high
• Middle managers are dissatisfied about loss of authority
• Workers are dissatisfied with other aspects of organizational life
• Union leaders are left out of QC discussions
• Managers wait for big, dramatic innovations
1) Establish standards of performance – Managers set quantifiable standards for service or production goals (increase production, increase sales, reduce accidents, etc…) depending on the service the industry provides.
2) Measure actual performance – Managers regularly review reports of performance standards.
3) Compare performance to standards – Managers determine if actual performance meets, exceeds or falls short of standards and interpret deviation.
4) Take corrective action – Managers determine course of action to correct deviation from standards.
2. Describe the difference between a balance sheet and an income statement.
A balance sheet is a snapshot of a company’s financial position in regards to assets and liabilities at a specific point in time.
An income statement is a summary of a company’s financial performance for a given time interval.
3. Compare hierarchical control with decentralized control.
Hierarchal control is monitoring and influencing employee behavior using rules, policies, hierarchal status, written documentation, rewards and other formal mechanisms. This control method assumes that people are incapable of self-discipline and cannot be trusted. The consequences of this method are employees who follow instructions and do only what they are told, employees feeling a sense of indifference toward work, and high turnover rates or absenteeism.
Decentralized control is when an organization fosters compliance using culture, group norms and a focus on goals rather than rules and procedures. This control method assumes people work best when they are fully committed to the organization. This method results in employees who take initiative and seek responsibility, employees who are actively engaged and committed to their work, and a low turnover rate.
4. What are the positive and negative contingency factors associated with TQM?
Positive Factors:
• Tasks make high skill demands on employees
• TQM serves to enrich jobs and motivate employees
• Problem-solving skills are improved for all employees
• Participation and teamwork are used to tackle significant problems
• Continuous improvement is a way of life
Negative Factors:
• Management expectations are unrealistically high
• Middle managers are dissatisfied about loss of authority
• Workers are dissatisfied with other aspects of organizational life
• Union leaders are left out of QC discussions
• Managers wait for big, dramatic innovations
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