Exam 10: Managerial Controls

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Feedforward control takes place while a work activity is in progress.

(True/False)
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Which of the following management responsibilities determines if organizational goals are being achieved?

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________ is the final step in the management process,which provides a critical link back to ________.

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The Industry Leader (Scenario) Frank,the new CEO for First Fidelity,is working hard to turn around the formerly successful real estate business.His goal is to make First Fidelity a leader in the industry.He understands the importance of improving organizational productivity in achieving his goals.Mark is keen to improve organizational performance and effectiveness. -Charles interacts directly with the employees in the work area to identify problem areas.He works with various departments to obtain a holistic idea of the business.This type of direct supervision is an example of ________ control.

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Management by walking around is an example of ________ control.

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In a short essay explain feedforward,concurrent,and feedback controls and provide an example for each one.

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The balanced scorecard approach evaluates organizational performance from more than just the financial perspective.

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Managers should use subjective measures when ________.

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In a short essay,define corporate governance and describe some of the current trends in this area.

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Statco's Control (Scenario) Statco,Inc.,is a statistical software company based in Columbia,TN.This publicly traded firm has grown in a systematic fashion over its 25-year existence and now claims 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.The firm hires Mark Adams,an expert in control system design,to design a control system and offer suggestions to improve the firm's performance. -Mark recommends that the managers at Statco should identify how and why performance has deviated beyond the acceptable range of variation,and then correct the source of the deviation.Here,Mark is recommending ________.

(Multiple Choice)
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Benchmarks for a company must be created based on the previous performance of the company.

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Which of the following is considered the easiest way to increase organizational productivity?

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Organizational ________ is a measure of how appropriate organizational goals are and how well an organization is achieving those goals.

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The management control that takes place while a work activity is in progress is known as ________.

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Provide a few examples for feedforward strategies to reduce employee theft.

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Certain organizations conduct culture audits to find out which companies are the best to work for.What is the major benefit associated with these rankings?

(Multiple Choice)
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Which of the following refers to the overall output of goods or services produced divided by the inputs needed to generate that output?

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Activity ratios measure an organization's ability to meet its current debt obligations.

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

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________ corrects the problem at once to get performance back on track.

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