by TheBusinessProfessor | Feb 23, 2025 | Management, Leadership, & Organizational Behavior
What is Lean Control?Lean control (or simply Lean) is a process used to control non-financial aspects (work processes, purposes, and people) of organizational performance – all with the purpose of improving quality and decreasing waste. The three core principles...
by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
What is Quality Assurance?Quality assurance is a management system designed to provide confidence that a product or service meets expected quality standards. Said confidence is relevant to managers and owners as well as third-party stakeholders, such as employees,...
by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
What is the Performance Prism?The Performance Prism (PP) is a performance management approach. It is a further development of the Balanced Scorecard performance management system. Basically, unlike the balanced scorecard, it employs a stakeholder approach to...
by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
What is the Balanced Scorecard?The Balanced Scorecard is a Performance Management System that seeks to measure the effectiveness of operations and provide feedback to organizations on how well the internal procedures of the business are affecting its performance.The...
by TheBusinessProfessor | Feb 23, 2025 | Management, Leadership, & Organizational Behavior
What is a Performance Evaluation?Performance evaluation is part of the performance management process. It is an evaluation of the activities and performance of the individual employee based upon organizational goals and objectives. The purpose of the evaluation is to...
by TheBusinessProfessor | Feb 23, 2025 | Management, Leadership, & Organizational Behavior
What is Performance Management?Performance Management is the process of continuously identifying, measuring, and developing workforce performance within the organization. This means aligning the goals and objectives of individuals, groups, and the...
by TheBusinessProfessor | Feb 23, 2025 | Strategy, Entrepreneurship, & Innovation
What is Mintzberg’s 5 Ps of Strategy?Mintzberg developed his 5 Ps of Strategy as five different definitions of (or approaches to) developing strategy. He first wrote about the 5 Ps of Strategy in 1987. Each of the 5 Ps is a different approach to strategy. They...
by TheBusinessProfessor | Feb 23, 2025 | Strategy, Entrepreneurship, & Innovation
What are Intended, Deliberate, Realized, and Emergent Strategies?Henry Mintzberg and his colleagues at McGill University distinguish intended, deliberate, realized, and emergent strategies. Note: This framework has given rise to two factions – the Design School...
by TheBusinessProfessor | Feb 23, 2025 | Strategy, Entrepreneurship, & Innovation
What is an Organizational (Corporate) Strategy?A corporate-level strategy focuses on high-level decisions that affect the market in which the company competes. It may also regard what the company stands for and how it will be perceived by stakeholders and third...
by TheBusinessProfessor | Feb 23, 2025 | Strategy, Entrepreneurship, & Innovation
What is Management Strategy?Strategic management is the process employed by a company (through its managers) to achieve its identified goals and objectives. More specifically, strategic management simply refers to the regulation, planning, monitoring and controlling...
