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Kenneth Merchant holds the Deloitte and Touche LLP Chair of Accountancy at the Leventhal School of Accounting, part of the Marshall School of Business at the University of Southern California. He is the former dean of the Leventhal School.
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Kenneth Merchant holds the Deloitte and Touche LLP Chair of Accountancy at the Leventhal School of Accounting, part of the Marshall School of Business at the University of Southern California. He is the former dean of the Leventhal School.
Dr. Merchant is the author of many articles and books on accounting, including the standard textbooks:
In the second book Merchant describes three forms of control: control of specific actions, control of results and control of personnel. When knowledge of which specific actions are desirable is excellent, it is always a good thing to control specific actions. When the ability to measure results on important performance dimensions is high, it is always a good thing to control results. When it is difficult to know which specific actions are desirable and when it is difficult as well to measure the results, the optimal control is the personnel control.
Dr. Merchant previously taught at Harvard Business School, currently serves on thirteen editorial boards, and has served on 10 boards of various types (public and private companies, mutual fund, non-profit organizations).
His Ph.D. is from the University of California at Berkeley. His M.B.A. is from Columbia Business School. His B.S. is from Union College.
A board of directors is an executive committee that jointly supervises the activities of an organization, which can be either a for-profit or a nonprofit organization such as a business, nonprofit organization, or a government agency.
Quality control (QC) is a process by which entities review the quality of all factors involved in production. ISO 9000 defines quality control as "a part of quality management focused on fulfilling quality requirements".
In management accounting or managerial accounting, managers use accounting information in decision-making and to assist in the management and performance of their control functions.
A performance appraisal, also referred to as a performance review, performance evaluation, (career) development discussion, or employee appraisal, sometimes shortened to "PA", is a periodic and systematic process whereby the job performance of an employee is documented and evaluated. This is done after employees are trained about work and settle into their jobs. Performance appraisals are a part of career development and consist of regular reviews of employee performance within organizations.
Corporate governance is defined, described or delineated in diverse ways, depending on the writer's purpose. Writers focused on a disciplinary interest or context often adopt narrow definitions that appear purpose-specific. Writers concerned with regulatory policy in relation to corporate governance practices often use broader structural descriptions. A broad (meta) definition that encompasses many adopted definitions is "Corporate governance” describes the processes, structures, and mechanisms that influence the control and direction of corporations."
A marketing plan may be part of an overall business plan. Solid marketing strategy is the foundation of a well-written marketing plan so that goals may be achieved. While a marketing plan contains a list of actions, without a sound strategic foundation, it is of little use to a business.
Discipline refers to rule following behavior, to regulate, order, control and authority. It may also refer to punishment. Discipline is used to create habits, routines, and automatic mechanisms such as blind obedience. It may be inflicted on others or on oneself. Self discipline refers to the practice of self restraint, controlling one's emotions, and ignoring impulses.
A homeowner association, or a homeowner community, is a private association-like entity often formed either ipso jure in a building with multiple owner-occupancies, or by a real estate developer for the purpose of marketing, managing, and selling homes and lots in a residential subdivision. In the United States, the developer will typically transfer control of the association to the homeowners after selling a predetermined number of lots.
Salesforce management systems are information systems used in customer relationship management (CRM) marketing and management that help automate some sales and sales force management functions. They are often combined with a marketing information system, in which case they are often called CRM systems.
Management by objectives (MBO), also known as management by planning (MBP), was first popularized by Peter Drucker in his 1954 book The Practice of Management. Management by objectives is the process of defining specific objectives within an organization that management can convey to organization members, then deciding how to achieve each objective in sequence. This process allows managers to take work that needs to be done one step at a time to allow for a calm, yet productive work environment. In this system of management, individual goals are synchronized with the goals of the organization.
Expectancy theory proposes that an individual will behave or act in a certain way because they are motivated to select a specific behavior over others due to what they expect the result of that selected behavior will be. In essence, the motivation of the behavior selection is determined by the desirability of the outcome. However, at the core of the theory is the cognitive process of how an individual processes the different motivational elements. This is done before making the ultimate choice. The outcome is not the sole determining factor in making the decision of how to behave.
A performance indicator or key performance indicator (KPI) is a type of performance measurement. KPIs evaluate the success of an organization or of a particular activity in which it engages. KPIs provide a focus for strategic and operational improvement, create an analytical basis for decision making and help focus attention on what matters most.
In the context of software engineering, software quality refers to two related but distinct notions:
Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve an organization's operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control and governance processes. Internal auditing might achieve this goal by providing insight and recommendations based on analyses and assessments of data and business processes. With commitment to integrity and accountability, internal auditing provides value to governing bodies and senior management as an objective source of independent advice. Professionals called internal auditors are employed by organizations to perform the internal auditing activity.
Managerialism is the reliance on professional managers and organizational strategies to run a society. It may be justified in terms of efficiency, or alternatively, characterized as an ideology, a belief system which requires little or no evidence to justify itself. Thomas Diefenbach associates managerialism with a belief in hierarchy. Other scholars have linked managerialism to control, accountability measurement, and a belief in the importance of tightly-managed organizations.
Control is a function of management which helps to check errors in order to take corrective actions. This is done to minimize deviation from standards and ensure that the stated goals of the organization are achieved in a desired manner.
In business, engineering, and manufacturing, quality – or high quality – has a pragmatic interpretation as the non-inferiority or superiority of something ; it is also defined as being suitable for the intended purpose while satisfying customer expectations. Quality is a perceptual, conditional, and somewhat subjective attribute and may be understood differently by different people. Consumers may focus on the specification quality of a product/service, or how it compares to competitors in the marketplace. Producers might measure the conformance quality, or degree to which the product/service was produced correctly. Support personnel may measure quality in the degree that a product is reliable, maintainable, or sustainable. In such ways, the subjectivity of quality is rendered objective via operational definitions and measured with metrics such as proxy measures.
An advisory board is a body that provides non-binding strategic advice to the management of a corporation, organization, or foundation. The informal nature of an advisory board gives greater flexibility in structure and management compared to the board of directors. Unlike the board of directors, the advisory board does not have authority to vote on corporate matters or bear legal fiduciary responsibilities. Many new or small businesses choose to have advisory boards in order to benefit from the knowledge of others, without the expense or formality of the board of directors.
A management control system (MCS) is a system which gathers and uses information to evaluate the performance of different organizational resources like human, physical, financial and also the organization as a whole in light of the organizational strategies pursued.
Eight dimensions of quality were delineated by David A. Garvin, formerly C. Roland Christensen Professor of Business Administration at Harvard Business School, and may be used at a strategic level to analyze product quality characteristics. Garvin, who died on 30 April 2017, was posthumously honored with the prestigious award for 'Outstanding Contribution to the Case Method' on 4 March 2018.
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