Management Chapter 9: Control Processes

<p>Expectations set by organizational culture. (C)</p> Signup and view all the answers

<p>Direction through emerging events during project implementation. (B)</p> Signup and view all the answers

<p>Through customer and competition feedback. (A)</p> Signup and view all the answers

<p>Efforts and resources used in task performance. (B)</p> Signup and view all the answers

<p>Amount of effort. (A)</p> Signup and view all the answers

<p>To ensure clarity of objectives and proper resources (A)</p> Signup and view all the answers

<p>Concurrent controls (D)</p> Signup and view all the answers

<p>They evaluate quality after work is completed. (C)</p> Signup and view all the answers

<p>Control processes ensure desired results are achieved. (C)</p> Signup and view all the answers

<p>Enhancement of organizational learning (C)</p> Signup and view all the answers

<p>They prevent problems from occurring in the first place. (D)</p> Signup and view all the answers

<p>Feedforward, concurrent, feedback (D)</p> Signup and view all the answers

<p>Assessing the quality of end results (C)</p> Signup and view all the answers

<p>To ensure inventory meets immediate needs (C)</p> Signup and view all the answers

<p>Economic order quantity (B)</p> Signup and view all the answers

<p>When revenues equal costs (A)</p> Signup and view all the answers

<p>Liquidity ratio (A)</p> Signup and view all the answers

<p>The efficiency of resource utilization (A)</p> Signup and view all the answers

<p>Market share (A)</p> Signup and view all the answers

<p>To evaluate different revenue and cost scenarios (C)</p> Signup and view all the answers

<p>Product availability (C)</p> Signup and view all the answers

<p>To accurately measure actual performance results and efforts (A)</p> Signup and view all the answers

<p>Desired Performance - Actual Performance (B)</p> Signup and view all the answers

<p>Financial comparison (B)</p> Signup and view all the answers

<p>Giving attention to situations needing significant action (A)</p> Signup and view all the answers

<p>To provide a graphic display of scheduled tasks (D)</p> Signup and view all the answers

<p>Critical path method and program evaluation (A)</p> Signup and view all the answers

<p>Opportunity situation (D)</p> Signup and view all the answers

<p>It involves continuous measurement and comparison of performance. (B)</p> Signup and view all the answers

The process of monitoring performance and taking actions to achieve desired outcomes.

Control applied before a task begins to prevent problems.

Monitoring ongoing work processes to maintain accuracy and adherence to plans.

Evaluating the quality of outcomes after a task is completed.

A systematic way of ensuring goals are being achieved.

Gaining knowledge from monitoring activities and their outcomes.

Feedforward, concurrent, feedback – diverse types of controls used in management

Unplanned outcomes, wasted resources, and missed opportunities.

Individuals and teams regulate their actions to meet job expectations through self-discipline.

Supervisors and formalized systems are used to monitor and guide employee behavior.

Employees regulate their own behavior to achieve both work and personal objectives.

Influence through formal rules, policies, job descriptions, budgets, and supervision.

Influence through shared values and expectations within an organization's culture.

Guidance during project implementation based on new happenings and changes.

Customer and competitor behavior's influence on business practices.

Performance measures focused on the quality, quantity, cost, time, and error rates of final outcomes.

The step in the control process where you carefully collect data about actual performance outcomes and efforts, comparing them to the original plan.

In the Control Process, this refers to a noticeable gap between what was planned and how things actually turned out.

Tools like engineering comparisons (comparing to industry standards), historical comparisons (looking at past performance) and relative comparisons (comparing to competitors) help us understand how well we're doing.

Two types of 'exceptions' in management control; a problem situation indicates performance is below expectations, while an opportunity situation means we're exceeding them.

The art of planning, overseeing, and controlling projects, focusing on unique, one-time events within a predetermined time frame.

A visual tool for project management, depicting tasks on a timeline to show their dependencies and durations.

A combined approach to project management that includes the critical path method (identifying crucial tasks) and program evaluation and review technique (assessing dependencies) to ensure projects stay on track.

A visual representation of a project showing the interconnected tasks and their relationships, including the critical path.

Managing inventory levels to meet immediate needs without excessive stock.

A method to calculate the optimal order size for inventory, minimizing ordering and holding costs.

Receiving materials right before they're needed for production, minimizing waste and storage.

The point where total revenue equals total costs, resulting in no profit or loss.

A tool to calculate the breakeven point and analyze profitability under different conditions.

A company's ability to pay its short-term debts using available cash.

Using debt to finance operations and amplify returns on investment.

A framework to measure performance across various aspects of a business, including finances, customers, internal processes, and learning.