BMGT Ch 16-17 Review

What is the definition of Benchmarking?

• The process of steering or keeping on course
• The process of identifying outstanding practices in other companies and adapting them to your company
• The process of ensuring control is established within a company
• The process of marking a line of measurement on a bench

What is the definition of Cybernetic?

• The process of steering or keeping on course
• The process of identifying outstanding practices in other companies and adapting them to your company
• The process of ensuring control is established within a company
• The process of casting a virtual net

What is the first step in the Control Process?

• Companies compare actual performance to performance standards
• Take corrective action
• Managers set goal
• Companies specify the performance standards that must be met to accomplish goals

What is the last step in the Control Process?

• Companies compare actual performance to performance standards
• Take corrective action
• Managers set goal
• Companies specify the performance standards that must be met to accomplish goals

Control is Cybernetic.

• True

• False

What is the Balanced Score Card Approach?

• Measuring organizational performance in 4 areas: Environmental, Cultural, Economical, Educational
• The process of identifying outstanding practices in other companies and adapting them to your company
• The process of steering or keeping on a balanced course
• Measuring organizational performanc in 4 areas: Finance, Customer, Internal, & Innovation/Learning

What is the definition of Data?

• Meaningful numbers
• Meaningful pieces of information
• Raw, unprocessed facts and figures
• Data that has been processed in a way that makes it meaningful to the user

What is the definition of Information?

• Random numbers
• Random pieces of data
• Raw, unprocessed facts and figures
• Data that has been processed in a way that makes it meaningful to the user

Both Data and Information are equally meaningful to the user.

• True

• False

Answer explanation

Data is raw, unprocessed, and meaningless facts & figures. On the other hand, Information is data that has been processed and therefore, has meaning.

What are the two methods of Capturing Information?

• Manual
• Authentication
• Electronic
• Data Mining