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Management-Chapter 14

Implementing and Controlling

AB
implementingguiding employee work toward achieving the company's goals
motivationa set of factors that influence an individual's actions toward accomplishing a goal
internal motivationcomes from a person's feelings, beliefs, and attitudes
external motivationcomes from rewards and punishments supplied by other people
work teama group of individuals who cooperate to achieve a common goal
process improvementthe efforts to increase the effectiveness and efficiency of specific business operations
physiological needsthings required to sustain life, such as food and shelter
security needsinvolve making sure you and those you care about are safe and free from harm
social needsinclude the need to belong, to interact with others, to have friends, and to love and be loved
esteem needsthe need for recognition and respect from others
self-actualisation needsthe need to grow emotionally and intellectually, to be creative, and to achieve your full potential
achievement needtakes personal responsibility for their own work, set personal goals, and wants immediate feedback on their work
affiliation needpeople concerned about their relationships with others and work to get along well and fit in with a group
power needwant to influence and control others to be responsible for a group's activities
hygiene factorsjob factors that dissatisfy when not present, but do not contribute to satisfaction when they are present
motivatorsfactors that increase job satisfaction
quality standardexpected consistency in production or performance
quantity standardestablishes the expected amount of work to be completed
time standardsclosely related to quantity and quality standards, the amount of time it takes to complete an activity
cost standardswhether or not a company is reaching cost, if so how much profit is lost or made
revenuesales income
variancea difference between current performance and the standard
just-in-time (JIT) inventory controlsa method of inventory control in which the company maintains very small inventories and obtains materials just in time for use
creditbusinesses use credit, which elongates the time required to purchase an item, yet the buyer gets the item already


Personal and Business Finance
Dobyns-Bennett High School

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