BU247 Lecture Notes - Financial Statement, Fixed Cost, Activity-Based Costing
Document Summary
Decentralization the delegation of decision-making authority throughout an organization. Directly involved in achieving the basic objectives of the organization. Indirectly involved in achieving the basic objectives of the organization. Support line positions but don"t have direct authority over line positions. Controller part of top management team that is responsible for providing timely/relevant data to support planning and control activities. Corporate governance the system by which a company is directed and controlled. Board of directors top management stockholders. A strong corporate governance systems protects the interests of the company"s other stakeholders: There are four approaches to improving business processes: lean production. Traditionally, in a push manufacturing company, work is pushed through the system in order to produce as much as possible and to keep everyone busy. In lean production, a pull manufacturing system is used which reduces inventories, decrease defects, reduces wasted effort, and shortens customer response times. Goods are delivered when needed and production begins as parts arrive: six sigma.
