Business Management Control Process Quiz

Control Process

• Ensures organizational goals are met by monitoring performance and making adjustments as necessary.
• Involves measuring actual performance against established standards and implementing corrective measures if deviations occur.

Output Standards

• Used to measure the effectiveness and efficiency of outputs produced by an organization.
• Examples include production quantity, product quality, customer satisfaction, and profitability.

First Step in the Control Process

• Establishing performance standards that define the expected outcomes.

After-Action Review

• Serves to assess the effectiveness of actions taken and decisions made after a project or event.
• Helps identify what worked, what didn’t, and how processes can be improved for future efforts.

Feedforward Control

• Aims to prevent problems by anticipating potential issues before they occur.
• Focuses on adjusting inputs and processes to enhance desired outcomes.

SMART in Control Context

• Acronym stands for Specific, Measurable, Achievable, Relevant, Time-bound.
• Framework guides the setting of effective performance standards.

Focus of Concurrent Controls

• Monitors ongoing activities to ensure they comply with established standards and goals as they happen.
• Enables immediate adjustments to be made if performance is off track.

Feedback Controls

• Occur after an action has been taken, allowing organizations to evaluate the outcome against set standards.
• Help in understanding successes and failures for future planning.

Control Equation

• Formula typically consists of comparing actual performance to standard performance to ascertain variances and implement improvements.

Management by Exception

• Focuses on identifying and addressing significant deviations from expected performance.
• Allows management to concentrate on critical issues while routine operations are monitored automatically.

Preliminary Controls

• Emphasize planning and establishing standards before performance begins.
• Aim to ensure resources are allocated effectively and processes are in place to achieve goals.

Historical Comparison in Control

• Involves analyzing past performance data to identify trends and evaluate progress over time.
• Provides insights into performance consistency and areas needing improvement.

Relative Comparison in Control

• Benchmarks performance against similar units, competitors, or industry standards.
• Helps in assessing competitiveness and determining areas for enhancement.

Engineering Comparison in Control

• Analyzes performance against established engineering standards and specifications.
• Ensures processes are optimized and products meet safety and design criteria.

Corrective Action Purpose

• To address variances and enhance future performance.
• Involves modifications to processes, resources, or objectives to improve efficiency and effectiveness.