Deck 14: Managing Control Systems, finances, and People

Question 1

Feedforward control is also known as?

A)Inputs
B)Outputs
C)Damage control
D)Focus control

Answer 1

A

Question 2

Preliminary control is also called_________.

A)Inputs
B)Outputs
C)Transformation Process
D)Customer/Stakeholder satisfaction

Answer 2

A

Question 3

______________ is necessary when preliminary and concurrent controls have failed.

A)Proactive control
B)Inputs
C)Damage control
D)Outputs

Answer 3

D

Question 4

Planning and organizing are the keys to ____________,which is also called feed forward control.

A)Rework control
B)Damage control
C)Concurrent control
D)Preliminary control

Question 5

Rework control is also known as _____________.

A)Inputs
B)Outputs
C)Transformation process
D)Customer/Stakeholder satisfaction

Question 6

Service industries should focus primarily on preliminary and ______________ control.

A)post-project
B)concurrent
C)feedback
D)rework

Question 7

_________ is the process of monitoring progress and taking corrective action when needed to ensure that objectives are achieved.

A)Task performance
B)Job Commitment
C)Controlling
D)Organizational chart

Question 8

Which of the following is not a functional area/department?

A)Operations
B)Human resources
C)Funding
D)Marketing

Question 9

XYZ Corp's customer satisfaction is slowly declining.What part of the organizational system are they lacking in?

A)Feedback
B)Inputs
C)Concurrent control
D)Solutions

Question 10

The products made by XYZ Corp have all come out the wrong color.What system control needs to be used?

A)Inputs control
B)Transformation process
C)Rework control
D)Feedback

Question 11

Preliminary control is used to _____________?

A)anticipate and prevent problems
B)anticipate and fix problems
C)prevent problems
D)fix the problem permanently

Question 12

Warranties are an example of:

A)Concurrent control
B)Rework control
C)Damage control
D)Preliminary control

Question 13

Concurrent control is also called __________.

A)Inputs
B)Outputs
C)Transformation process
D)Continuous improvement

Question 14

Employees use system process to transform inputs into __________.

A)Goals
B)Rewards
C)Problems
D)Outputs

Question 15

__________ is/are designed to anticipate and prevent possible problems.

A)Continuous Improvement
B)Preliminary control
C)Transformation process
D)Outputs

Question 16

Controls describe the processes used to________ objectives.

A)identifying
B)monitor
C)vet
D)reduce

Question 17

Feedback is also known as _________________.

A)Concurrent control
B)Damage control
C)Continuous control
D)Rework control

Question 18

______________ is action taken to fix an output.

A)Rework Control
B)Damage Control
C)Continuous improvement
D)Preliminary control

Question 19

Preventative maintenance is an example of:

A)Damage control
B)Preliminary control
C)Concurrent control
D)Rework control

Question 20

An action taken to fix an output is _________?

A)Solution
B)Rework control
C)Input
D)Feedback

Question 21

During the correct or reinforce step of the control systems process,after performance is complete and it is too late to take corrective action to meet the standard,the appropriate corrective actions are to do all of the following except:

A)Analyze why the standards were not met
B)Use the information to develop preliminary control
C)Discipline the necessary party for not working effectively
D)Collect feedback as to improve the process as it moves forward

Question 22

Professor Lockhart signed a contract at the State University where he has to teach at least 24 credit hours per year.He now has to follow which two standards?

A)Quantity and Time
B)Behavior and Time
C)Quality and Cost
D)Behavior and Cost

Question 23

Clan or group control relies on which of the following?

A)Culture and Norms
B)Standing Plans
C)Leadership
D)Manager interference

Question 24

Dianne,an employee at the local hospital,notices a "No Smoking" sign outside the building and around the exits.What primary level of control is being used?

A)Standing Plans
B)Self-Control
C)Observation
D)Clan Control

Question 25

The preparation of a budget is what kind of control?

A)Concurrent
B)Transformation
C)Rework
D)Preliminary

Question 26

Critical Success Factors in a retail store would include all except:

A)Maintaining the right product mix in each location
B)Analyzing profit margins in that industry,and setting correct prices
C)Advertising the products in order to pull customers in
D)Running a performance report of the current employees

Question 27

Sally,the manager at a large restaurant chain,was just given information from the corporate office on how to increase sales in their region.She was given a list of goals for the next quarter.She was the recipient of what step in the control systems process?

A)Measure Performance
B)Correct or Reinforce
C)Set Objectives and Standards
D)Compare Performance to Standards

Question 28

_________ dictates what an employee should and should not do?

A)Behavior
B)Personality
C)Procedures
D)Culture

Question 29

Which of the following is part of a constant control?

A)Budgeting
B)Audits
C)Reports
D)Standing plans

Question 30

__________ measure performance levels in the areas of quantity,quality,time,cost and behavior.

A)Objectives
B)Managers
C)Observations
D)Standards

Question 31

An Operations Performance Report is a useful tool in what step of the control systems process?

A)Comparing performance to standards
B)Setting objectives to standards
C)Measure Performance
D)Correct or reinforce

Question 32

An example of an occasional control is which of the following?

A)Budgeting
B)Meetings
C)Coaching
D)Observation

Question 33

___________ is the rate of repetition of measures taken to control performance.

A)Operations performance rate
B)Incentive inquiry
C)Manager objective analysis
D)Control frequency

Question 34

_____________ is the analysis of the organization's planning,organizing,leading and controlling functions to look for improvements.

A)Management audit
B)Observation
C)Accounting audit
D)Group control

Question 35

Self-control,clan control and standing plans are measured in what control frequency?

A)Periodic
B)Occasional
C)Constant
D)Regressive

Question 36

All of the following are examples of standing plans except:

A)Procedures
B)Budgets
C)Rules
D)Policies

Question 37

Comparing performance to standards is what step in the control systems process?

A)Step 2
B)Step 3
C)Step 4
D)Step 5

Question 38

Critical success factors are used during what step of the Control Systems Process?

A)Set Objectives and Standards
B)Correct or Reinforce
C)Measure Performance
D)Compare Performance to Standards

Question 39

Which of the following is not a step in the control systems process?

A)Correct
B)Coaching
C)Measure Performance
D)Set Objectives

Question 40

A team working on a project has noticed that one of their members has been working at too slow a pace,so other team members ask what the holdup is.What primary level of control is used in this situation?

A)Regular meetings and reports
B)The exception rule
C)Clan control
D)Observation

Question 41

The Sign Garden purchased a large number amount of photo paper on credit.The amount of the loan that remains to be paid could be found on which financial statement?

A)income statement
B)balance sheet
C)cash flow statement
D)footnotes

Question 42

The main difference between pro forma statements and financial statements is that pro forma statements__________.

A)report past results
B)project future results
C)consist of entirely different statements
D)are used by external personnel

Question 43

You are working at a tax office that completes personal tax returns for a fee.Your boss asks you to estimate how much it would cost to open a second office in response to increased demand.What will you create for your boss?

A)budget
B)revenue budget
C)expense budget
D)capital expenditures budget

Question 44

The revenue and expense budgets are often referred to as the __________.

A)financial statements
B)financial controls
C)operating budgets
D)operations directives

Question 45

You are working at a tax office that completes personal tax returns for a fee.Your boss asks you to estimate how much your entire office will collect in fees for the coming year.What will you create for your boss?

A)budget
B)revenue budget
C)expense budget
D)capital expenditures budget

Question 46

An investment banker would look at the __________ to determine how much revenue and profit a prospective company had for any given time period.

A)cash flow statement
B)revenue budget
C)manager's prospectus
D)income statement

Question 47

Samantha would like to know how much cash was received from operating activities last year.She could easily find this information in the __________.

A)income statement
B)revenue budget
C)balance sheet
D)cash flow statement

Question 48

The __________ is commonly referred to as one of the three primary financial statements.

A)statement of comprehensive income
B)statement of owners' equity
C)income statement
D)balance sheet

Question 49

What is the correct formula for corrective coaching action?

A)Performance + Motivation + Resources = Ability
B)Performance x Motivation x Resources = Ability
C)Ability + Motivation / Resources = Performance
D)Ability + Motivation + Performance = Resources

Question 50

Whenever __________ are sold by a company,they pay out interest payments to the purchaser,and the amount of the sale is shown as a liability on the balance sheet.

A)stocks
B)short-term loans
C)bonds
D)capital assets

Question 51

Who of the following is NOT a regular user of the financial statements?

A)customers
B)internal managers
C)creditors
D)investors

Question 52

In order to raise capital for expansion,large corporations commonly sell __________.

A)stocks or bonds
B)excess inventory
C)capital assets
D)subsidiaries

Question 53

You are working at a tax office that completes personal tax returns for a fee.Your boss asks you to estimate how much it will cost your company to conduct tax returns in the coming year.What will you create for your boss?

A)expense budget
B)revenue budget
C)budget
D)capital expenditures budget

Question 54

Which of the following is not developed during the master budgeting process?

A)human resource requirements
B)revenue and expenditure operating budgets
C)capital expenditures budget
D)financial budgeted cash flow,income statement,and balance sheet

Question 55

The finance __________ is responsible for the budgeting process that results in a master budget for the entire organization.

A)manager
B)controller
C)executive officer
D)coordinator

Question 56

A(n)__________ is a planned quantitative allocation of resources for specific activities.

A)expense report
B)capital expenditures budget
C)budget
D)production order

Question 57

Whenever __________ are sold by a company,they pay out dividend payments to the purchaser,and the amount of the sale is shown as owners' equity on the balance sheet.

A)capital assets
B)stocks
C)short-term loans
D)bonds

Question 58

Grant is running his usual weekly report in connection with this current project.Today,he notices that the numbers are very different from their normal range.Because variance in the numbers usually means there is some issue with cash flow,Grant takes the report to his supervisor for assistance.Grant's decision to involve his supervisor is an example of ______________.

A)Observation
B)The Exception Principle
C)Special Reports
D)Audits

Question 59

It is more valuable for businesses to focus on increasing revenues,rather than reduce expenses,in order to maximize profit.For this reason,the __________ is the most important budget.

A)revenue budget
B)expense budget
C)capital expenditures budget
D)financial budget

Question 60

Venture capital is the term for what businesses use during which of the following activities?

A)acquisitions
B)expansion
C)liquidation
D)starting a new business

Question 61

Sloan is currently training Shelby on the proper way to deliver drinks to a table.Sloan is telling Shelby that when there appears to be a child under the age of 5,she should by default bring the drink in a cup with a lid and straw to minimize the risk of spills.Which stage of coaching is Sloan using?

A)Describe current performance.
B)Describe desired performance.
C)Get a commitment to the change.
D)Follow up.

Question 62

_____________ is a negative voluntary behavior of problem employees that violates significant organizational norms and threatens the well-being of the organization.

A)Deception
B)Slacking
C)Vandalism
D)Deviance

Question 63

One of Cynthia's factory employees has been coming to work late on a frequent basis.Cynthia already warned him that she was facing the decision of having to lay him off if this tardiness continued.At which step in the discipline model should Cynthia now be?

A)Getting a commitment to change and developing a plan.
B)Referring to past feedback.
C)Summarizing and state the follow-up.
D)Giving the discipline.

Question 64

What do you need to be prepared to do the job right?

A)Intensity
B)Integrity
C)Intimacy
D)Inspection

Question 65

The difference between pro forma statements and financial statements is that pro forma statements report past results while the financial statements project future results.

Question 66

The only way to continually increase customer satisfaction is to use feedback from the customer to continually improve the products and services.

Question 67

If a company desires to raise capital without selling any ownership in the company,then they should sell stocks rather than bonds.

Question 68

As a HR manager of large business,what kind of program should one create to help solve employees' personal and professional problems?

A)Employee Analyzing Program
B)Employee Assistance Program
C)Extensive Assistance Program
D)Employee Appreciation Program

Question 69

Johnson,an accounting department manager,notices that one of his employees tends to show anger management issues when faced with a deadline.Which management method should Johnson use in this situation?

A)Coaching
B)Counseling
C)Disciplining
D)Confronting

Question 70

Which step among the four-step coaching model,is important for motivation issues?

A)Describe current performance.
B)Follow up
C)Get a commitment to the change.
D)Desired performance.

Question 71

As a manager,it is your job to have employees meet __________ and standards and to follow the rules.

A)Feedbacks
B)Expectations
C)Motivations
D)Objectives

Question 72

Long lasting plans of policies,procedures and rules help control or limit behavior.

Question 73

Which of the following is not part of the discipline model?

A)Give the discipline
B)Refer to past feedback
C)Reinforce the positive behavior
D)Summarize and state the follow-up

Question 74

Rework controls are actions taken to minimize negative impacts on customers/stakeholders due to faulty outputs.

Question 75

All of the following are major activities of Management by walking around (MBWA)except for?

A)Doing
B)Listening
C)Teaching
D)Facilitating

Question 76

Which of the following is not a cause of problem employees?

A)Violating standing plans
B)Ability Problem
C)Motivation Problem
D)Mental illness

Question 77

Which of the following does not fall into the progressive disciplinary steps?

A)Probation
B)Suspension
C)Dismissal
D)Warning

Question 78

What is the first step of progressive disciplinary action?

A)Termination
B)Oral warning
C)Written warning
D)Written warning

Question 79

If an employee has been counseled but continues in the unwanted behavior,then a manger should _____.

A)refer to past feedback
B)terminate them
C)give them disciplinary action
D)offer more counseling

Question 80

________ is the central part of coaching,and like the objective,it should be ____________.

A)Feedback / motivational
B)Determination / motivational
C)Feedback / compensating
D)Determination / compensating