Flashcards : Comprehensive Business and Management Fundamentals — 24 cartes

A subdivision of economic activities by product or service type.

Extracts raw materials and natural resources.

Converts raw materials into finished products.

Services to the public and businesses.

Internal and external factors affecting operations.

Inside the business; full control.

Immediately outside; partial control.

Outside both; no control.

Inspects final products against standards.

Prevents defects during and after production.

Designs and improves products for consistency.

Dept. performance vs standards.

Continuous, organisation-wide quality improvement.

Employee groups review and improve quality.

Plan, Do, Check, Act.

Define problem and improvement plan.

Implement on a small scale.

Analyze data; standardize successful change.

Coordinate planning, organizing, leading, controlling.

Influence and guide followers.

In crises or emergencies needing quick decisions.

When team skills and input are valuable.

Return on investment, income from investment.

Chance of loss or reduced value.