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DEFINITION OF TERMS: MATCHING   A

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DEFINITION OF TERMS: MATCHING   A. Risk Tolerant  A. Infrastructure 

 

 

 

B. Risk Averse 

B. Reactive Management 

C. Proactive Management 

C. Sustained Competitive Advantage 

D. Stages of Growth of a Firm Model 

D. Proof of Concept 

E. Entrepreneur 

E. Monetization 

 1.  The "internals" of a system or structure, such as the sewage, road, and electric systems of a city. 

 2. Making money out of an idea. The process of turning an idea into a way to make money. 

 3. When someone "is not willing to take risks". 

 4. When someone "is willing to take risks". 

 5. A person who starts a completely new business or a new way of doing work. 

 6. A possible goal of a Prototype, it shows that the goal of the endeavor is attainable. 

 7.  When one's approach to life and management is to not wait for the other side to act (or for things to happen) before you get into action yourself; but to act before the other side has does anything: this forces them to react to you! 

 8.  A useful diagram of the typical life of a new company or product. 

 9.  When one's approach to life and management is to wait for the other side to act (or for things to happen) before you get into action yourself. 

 10.   Keeping a competitive edge you have over your competition going over time. 

 

TECHNIQUES AND TYPES OF INTERNAL CONTROL (15) 

A. Separation of Duties         

A. Rotation of Duties 

A. Compensating Control                                     

B. Goals         

B. Partial Control            

B. Dodd-Frank Law 

C. Corrective Control         

C. Behavior Modification     

C. Dual Control 

D. Detective Control              

D. Sarbanes-Oxley Law      

D. Audit Trails  

E. HIPAA Laws       

E. Forced Vacation Policy               

E. Preventive Control  

 1. Laws regarding the privacy of a person's medical records. 

 2. Require workers and management to leave the office for a few days every year so someone else does their job during that time. 

3. Alternate doing every job in the office to uncover problems, have people gain experience in different jobs, and provide backup in case someone leaves or is sick. 

4. A federal law created about 2008 to help manage and control major US banks. 

5. Recording and keeping records of all business transactions of an organization, and being able to reconstruct the transaction, and all processing related to it, at a later date from these data. 

6. Serves as a point on which to focus/base all activities, controls, and decisions upon. Helps to keep employees and management on track" for the long term through both good and difficult times. 

7. One person writes the checks but that person is not allowed to balance the checkbook; someone else should do that task. 

8. Procedures to fix something after it has had problems. 

9. A 2002 Federal Law that tightens internal controls for publicly traded companies, including a lot of "compliance" reports having to be created and submitted to various agencies. 

10. When a procedure to prevent, detect, or correct "something from going wrong" is not done at one place, but is done at another time and or place. 

11. Procedures to determine if something has gone wrong. 

12. Procedures to keep something from going wrong.  

13. Procedures to change the ways in which people act and react to situations. 

14. When a procedure helps to, but does not completely, prevent, detect, or correct "something from going wrong". 

15. Requiring two people, each with "half" of the combination, to be able to open a safe in a bank.   

MATCHING --DEFINITION OF TERMS (15) 

A. Competitive Edge or Advantage      

A. Efficiency 

A. CSFs 

B. Layers of Management                                  

B. Flattening of Organizations                             

B. KPIs 

C. Competitive Weakness or Disadvantage  

C. Vertical Organization                                   

C. Dotted Line Relationship 

D. Contingency Management 

D. Worker Empowerment     

D. Span of Control 

E. Flat or Horizontal Organization            

E. Effectiveness 

E. Direct Reports 

1. When there are a "lot" of layers in management, and the management is very much "top down" and "formal". 

2. When there are "relatively few" layers in management, and the management is very much "modern". 

3.  Using resources cost-effectively and well. 

4. Accomplishing things that move the person or organization toward their goals in a positive manner. 

5. The different "tiers" of management in an organization. 

6. The number of people and department who report to one manager. 

7.  From your point of view, when you do something better than your competition. 

8. Giving employees more control over their environment and situation, e.g., employee ownership, more authority,  

       and responsibility. 

9. When the style of management used is based not on a person's beliefs and training, but on whatever will work in a  

        given situation. 

10. When the relationship between two people or departments is not direct, formal, but more of a situation of informally passing along data and information, i.e., keeping each other up to date. 

11. From your point of view, when your competition does something better than you. 

12. The specific things that "must be done" in order to accomplish a specific task. 

13. The process of taking layers of management out of an organization 

14. How many people or projects that one person can successfully manage at one time. 

15. Measurements of "things that matter".