| A | B |
|---|
| work team | a group of individuals who cooperate to achieve a common goal |
| motivation | a set of factors that influences the actions taken by an individual to accomplish a goal |
| operations | the major ongoing activities of a business |
| operations management | effectively directing major activities of a business to achieve its goals |
| process improvement | efforts to increase effectiveness and efficiency of a specific business operation |
| physiological needs | things required to sustain life, such as food and shelter |
| security needs | involve making sure you and those you care about are safe and free from harm |
| social needs | includes the need to belong, interact with others, to have friends, and to love and be loved |
| esteem needs | include the desire for recognition and respect from others |
| self actualization | the need to grow emotionally and intellectually, to be creative, and to achieve your full potential |
| achievement needs | take responsibility personally for their own work, set personal goals, and want immediate feedback for their work |
| affiliation needs | concerned about relationships with others and work to get along well and fit in with a group |
| power needs | want to influence and control others and to be responsible for a groups acticvities |
| hygiene factors | job factors that dissatisfy when absent but do not contribute to satisfaction when they are present; fringe benefits, pay, working conditions, rules |
| motivators | factors that increase job satisfaction; challenging work, recognition, accomplishments, increased responsibility |
| quantity standard | establishes the expected amount of work to be completed |
| quality standard | describes the expected consistency in production or performance |
| time standard | the established amount of time needed to complete an activity |
| profit | income minus cost |
| cost standard | the predetermined cost of performing an operation or producing a good or service, is an effective way of helping businesses maintain profitability |
| variance | a difference between current performance and the standard |
| inventory | all materials and products a business has on hand for use in production and available for sale |
| Just in Time Inventory | a method of inventory control whereby the company maintains very small inventories and obtains materials just in time for use |
| credit | the provision of goods or services to a customer with an agreement for future payment |
