BU467 Chapter Notes - Chapter 1: Business Process Management, Business Intelligence, Balanced Scorecard
Document Summary
Chapter 1: the role of accounting information in ethical management in decision. Organizational vision: a core purpose or ideology that guides the organization"s overall direction and its approach regarding various stakeholder groups. Organizational core competencies: organization"s strengths relative to its competitor"s which creates value for stakeholders; can be identified through. Organizational strategies: the tactics that managers use to take advantage of core competencies, while working toward the organizational vision; guide long term decisions. Operating plans: involve specific short-term decisions that shape and organization"s day to day activities; include specific performance objectives. Actual operations: various actions taken and results achieved over a period of time; data is collected and measured by the organization"s information system and then used to monitor and motivate performance. Management control systems: feedback loop which encompases the systems and rountines that managers use to increase the likelihood of organizational success: decisions are monitored by comparing actual results to plans, includes planning, monitoring, motivating, controlling performance.
