Control (Leaving Cert Business): Flashcards

Monitoring performance to ensure goals met & taking corrective action

Set targets, measure performance, compare, take corrective action

Monitoring stock levels to meet demand & minimise holding costs

Automated system for stock ordering & transaction processing

Inventory system where deliveries received precisely when needed

Checking goods/services meet required quality standards at all times

Employees who meet regularly to discuss quality issues

Monitoring goods sold on credit to ensure debts paid fully & on time

When a debtor fails to pay the full amount they owe

Ensuring business is profitable & has sufficient finance for payments