Exam 13: Foundations of Control

Define leverage ratios.

An effective concurrent strategy for dealing with employee theft of supplies and equipment is ________.

In a short essay,discuss the formal sources of information available to managers.

What is the most common response to negative feedback?

A gap between actual performance and planned goals that falls within an acceptable range of variation usually does not require managerial action.

When is subjective negative feedback most likely to be accepted?

One advantage of feedback control over other forms of control is that it lets managers focus on ________.

________ is a measure of how readily a company can use its assets to generate profits.

Define the control process.

A comedy show producer has a read-through of a half-written show in which actors,writers,producers and the director are free to make comments and changes as the show progresses.What kind of control is being used?

A professor gives a new test to an otherwise normal class and finds that only 10 per cent of the students get grades of C or above.What is the most appropriate and fair response?

In many cases,immediate corrective action rather than basic corrective action is taken by managers because they ________.

In a short essay,explain why what managers choose to measure can be more important than how they measure.

An advantage of management by walking around is ________.

Budgets can be effective tools for both planning and controlling.

Define profitability ratios.

A car company that puts more effort into measuring quality than total units sold most likely wants to excel at ________.

Steve has a taped record of this one-on-one meeting with his boss.