Deck 14: Managing Control Systems, Finances, and People

Question 1

__________ is designed to anticipate and prevent possible problems.

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

Answer 1

B

Question 2

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

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

Answer 2

A

Question 3

Warranties are an example of __________.

A)concurrent control
B)rework control
C)damage control
D)preliminary control

Answer 3

C

Question 4

Service industries should focus primarily on preliminary and ______________ control.

A)damage
B)concurrent
C)feedforward
D)rework

Question 5

Preliminary control focuses on the __________ stage of the systems process.

A)inputs
B)outputs
C)transformation process
D)customer/stakeholder satisfaction

Question 6

______________ is necessary when preliminary and concurrent controls have failed.

A)Salvage control
B)Feedforward control
C)Damage control
D)Rework control

Question 7

The products made by XYZ Corp during the last shift are all missing the bag of screws that should be in each box.What system control needs to be used at this point?

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

Question 8

Rework control focuses on the __________ stage of the systems process.

A)inputs
B)outputs
C)transformation process
D)customer/stakeholder satisfaction

Question 9

Although in most organizations, the __________ department is the only functional area that actually transforms the inputs into the outputs of goods and services that are sold to customers, all functional departments use the systems process.

A)operations
B)marketing
C)human resources
D)finance

Question 10

Preliminary control is used to _____________.

A)anticipate and prevent problems
B)ensure that standards are met
C)fix an output
D)minimize negative impacts on customers/stakeholders

Question 11

Concurrent control focuses on the __________ stage of the systems process.

A)inputs
B)outputs
C)transformation process
D)customer/stakeholder satisfaction

Question 12

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

A)Correct or reinforce
B)Feedback
C)Measure performance
D)Set objectives and standards

Question 13

Feedforward control is also known as _________.

A)preliminary control
B)rework control
C)damage control
D)concurrent control

Question 14

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

A)Strategic planning
B)Progress management
C)Controlling
D)Alignment

Question 15

An action taken to fix an output is _________.

A)damage control
B)rework control
C)warrantied control
D)feedback

Question 16

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

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

Question 17

Preventative maintenance is an example of __________.

A)damage control
B)preliminary control
C)concurrent control
D)rework control

Question 18

______________ is action taken to fix an output.

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

Question 19

Control describes the process used to________ objectives.

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

Question 20

Planning and organizing are the keys to ____________.

A)rework control
B)damage control
C)concurrent control
D)preliminary control

Question 21

A performance or variant report is a useful tool in what step of the control systems process?

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

Question 22

_________ standards dictate what an employee should do and should not do.

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

Question 23

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 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

Critical success factors in a retail store would include all of the following, 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)upgrading the point-of-sale system to PC-based registers

Question 26

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

A)Budgeting
B)Monthly meetings
C)Self-control
D)Observation

Question 27

The preparation of a budget is what kind of control?

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

Question 28

Clan or group control relies on which of the following?

A)Culture and norms
B)Standing plans
C)Symbolic leadership
D)Group cohesion

Question 29

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 30

Which of the following is a constant control method?

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

Question 31

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)develop sophisticated rework controls and oversee their immediate implementation
D)collect feedback so as to take corrective action necessary to meet the objective/standard next time

Question 32

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

A)Management audit
B)Strategic audit
C)Accounting audit
D)Functional audit

Question 33

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 34

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

A)Objectives
B)Metrics
C)Guidelines
D)Standards

Question 35

Professor Lockhart signed a contract at the State University, where he has to teach at least eight classes per year, for which he will be paid an annual salary.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 36

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

A)Operations performance rate
B)Inquiry measurement period
C)Rework analysis cycle
D)Control frequency

Question 37

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 as they ask that question?

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

Question 38

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

A)Step 1
B)Step 2
C)Step 3
D)Step 4

Question 39

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

A)Periodic
B)Occasional
C)Constant
D)Each is a different control frequency.

Question 40

All of the following are examples of standing plans, except __________.

A)procedures
B)budgets
C)rules
D)policies

Question 41

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 42

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 43

Feedback is the central part of coaching, and it should be ____________.

A)neutral, frequent, and supportive
B)immediate, continuous, and motivational
C)general, directional, and developmental
D)personal, sincere, and succinct

Question 44

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)Fee budget
D)Capital expenditures budget

Question 45

Because it is focused on continually developing new ways to bring in revenues, the __________ is usually considered the most important budget.

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

Question 46

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 47

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

A)expense report
B)capital plan
C)budget
D)resource structure

Question 48

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)balance sheet
C)manager's prospectus
D)income statement

Question 49

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

A)Income statement
B)Balance sheet
C)Cash flow statement
D)Debt ledger

Question 50

Who of the following is not a regular user of the financial statements in the vast majority of privately owned companies?

A)All employees
B)External suppliers
C)Creditors
D)Investors

Question 51

What is the correct formula for the performance formula?

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

Question 52

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

A)Human resource spending plan
B)Revenue and expenditure operating budgets
C)Capital expenditures budget
D)Financial budgeted cash flow, income statement, and balance sheet

Question 53

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 54

__________ is the process of giving motivational feedback to maintain and improve performance.

A)Discipline
B)Coaching
C)Counseling
D)Training

Question 55

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

A)Acquire a business
B)Expand a business
C)Spin off a business
D)Start a new business

Question 56

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

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

Question 57

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

A)report past results
B)project future results
C)formalize financial data for easy comparison
D)combine past and future results

Question 58

All of the following are major activities of management by walking around (MBWA), except __________.

A)teaching
B)doing
C)listening
D)facilitating

Question 59

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)Fee budget
B)Revenue budget
C)Expense budget
D)Capital expenditures budget

Question 60

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)Fee budget
B)Revenue budget
C)Expense budget
D)Capital expenditures budget

Question 61

Which of the following is not a type of problem employee?

A)Employees who violate standing plans
B)Employees who do not have the ability to meet job performance standards
C)Employees who do not have the motivation to meet job performance standards
D)Employees who have an illness that prevents them from meeting job performance standards

Question 62

Which of the following is true of women regarding their personal finances?

A)Women are more likely to participate in employer-sponsored retirement plans.
B)Women take more risk in their investments.
C)Women save a smaller percentage of their income.
D)Women are less goal-directed.

Question 63

What is the first step of progressive disciplinary action?

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

Question 64

The Sarbanes-Oxley Act addresses corporate __________.

A)taxation
B)budgeting
C)governance
D)liability

Question 65

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

Question 66

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

A)Empathic Awareness Protocol
B)Employee Assistance Program
C)External Aid Plan
D)Exception Addressing Policy

Question 67

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 68

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

A)Perversions
B)Peccadilloes
C)Exceptions
D)Deviance

Question 69

One of Cynthia's factory employees has been coming to work late on a frequent basis.Cynthia is currently meeting with the employee and has just issued him an oral warning regarding his tardiness.At this point, what is the next step of the discipline model?

A)Get a commitment to change and develop a plan.
B)Refer to past feedback.
C)Summarize and state the follow-up.
D)Give the discipline.

Question 70

__________ is corrective action to get employees to meet standards and standing plans.

A)Coaching
B)Counseling
C)Discipline
D)Punishment

Question 71

__________ like regular feedback, so give them lots of coaching.

A)Traditionalists
B)Generation X
C)Baby Boomers
D)Millennials

Question 72

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

Question 73

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

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

Question 74

The major objective of discipline is to change __________.

A)attitudes
B)behaviors
C)perceptions
D)beliefs

Question 75

Johann, 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 Johann use in this situation?

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

Question 76

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

Question 77

Employees are less likely to resist the change of new controls in the workplace if they perceive the controls as fair.

Question 78

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 she would have to then clean up.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 79

For standards to be complete, they must cover performance levels in all areas of quantity, quality, time, cost, and behavior.

Question 80

According to the "3 Is" coaching philosophy, what do you need to be prepared to do the job right?

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