Exam 11: Foundations of Control

________ corrective action looks at how and why performance has deviated and then proceeds to correct the source of deviation.

Refer to the Scenario below to answer the questions that follow. Types of Control (Scenario) Sam has not been receiving the information that he needs from his current control system.By the time Sam receives his reports,the activity has been completed and mistakes have already been made.Direct supervision is used extensively on the production floor now,so some activities are corrected before they become costly mistakes.But Sam would like to do better.Ideally,he would like to fix mistakes before they happen and anticipate more of the problems before they occur. -Ideally,Sam would like to use more ________ control.

________ is the final link in the four management functions.

List and discuss three of the main performance control tools used for monitoring and measuring organizational performance.

Which of the following terms represents the performance measurement tool that looks at four areas-financial,customer,internal business process,and learning and growth assets-that contribute to a company's performance?

Basic corrective action corrects problems at once to get performance back on track.

________ control is often used in organizations in which teams are common and technology is changing rapidly.

Refer to the Scenario below to answer the questions that follow. Information Controls (Scenario) Computing Solutions,Inc.,is a high-tech consulting firm that focuses on helping companies to implement and adapt new technological developments in daily operations.Ted is the department head and needs to train John and Kelly,both project managers,on the proper applications of technological solutions for businesses. -Ted also informs John and Kelly that the term ________ in MIS implies order,arrangement,and purpose.

Management by walking around (MBWA)is a good example of feedforward control.

Refer to the Scenario below to answer the questions that follow. Control Systems at Statco (Scenario) Statco is a statistical software company based in British Columbia.This publicly traded firm has grown dramatically over its 25-year history,and it now has more than 12,000 employees worldwide.As it has grown,the company has adopted a hierarchical structure,which emphasizes organizational authority.Management relies heavily on administrative rules,regulations,and policies in order to meet its goals.However,the company has struggled to meet projected revenues for each of the past 10 quarters.While it is true that world financial markets have been very turbulent over the past three years,demand for the firm's products has typically been recession-proof in the past.Now,the board of directors is growing increasingly impatient with the management team.The firm's president,Susan Wong,is concerned that recent performance may indicate that management has lost control of the work force.She has hired Mark Adams,an expert in control system design,to evaluate Statco and offer suggestions to improve the firm's performance. -Mark suggests to Susan that each division of the company should be turned into a profit centre and be evaluated by the percentage of total corporate profits each contributes.This approach is most representative of ________ control.

Which common source of information for measuring performance is obtrusive,time-consuming,and most subject to personal biases?

Refer to the Scenario below to answer the questions that follow. Information Controls (Scenario) Computing Solutions,Inc.,is a high-tech consulting firm that focuses on helping companies to implement and adapt new technological developments in daily operations.Ted is the department head and needs to train John and Kelly,both project managers,on the proper applications of technological solutions for businesses. -When John organizes and processes the raw,unanalyzed facts,he will have ________.

According to the textbook,studies have shown that market value added is a predictor of economic value added.

The only criterion that determines the effectiveness of a control system is how well it reduces unnecessary costs.

Written reports provide detail coverage of activities,but are time consuming and distracting when it comes to employees.

Management at Giant Department Stores uses video equipment to periodically monitor their employee interactions with customers.This is a form of ________ control.

In selecting the best control system,Gina understands that ________.

Benchmarking is more effective for external comparisons than for internal comparisons.

Control that takes place while an activity is in progress is known as ________ control.

List and briefly explain the steps involved in implementing an internal benchmarking best-practices program.