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Questions and Answers
What is the definition of control?
What is the definition of control?
- The process of measuring progress towards planned performance
- The process of setting performance standards
- The process of supervising employees
- The process of ensuring the effective and efficient achievement of organisational goals (correct)
What are the sources of performance standards?
What are the sources of performance standards?
- Quality standards, safety standards, production standards
- Financial standards, market standards, operational standards
- Internal standards, external standards, industry standards
- Historical standards, comparative standards, engineering standards (correct)
What are the possible sources of performance data?
What are the possible sources of performance data?
- Production logs, inventory records, sales data
- Written reports, oral reports, personal observation (correct)
- Market research, competitor analysis, industry trends
- Financial statements, customer feedback, employee surveys
What is feedforward control aimed at?
What is feedforward control aimed at?
Who can take corrective action in the control process?
Who can take corrective action in the control process?
What is concurrent control focused on?
What is concurrent control focused on?
Which type of control focuses on the transformation of inputs into outputs in real time?
Which type of control focuses on the transformation of inputs into outputs in real time?
What is the primary focus of feedback control?
What is the primary focus of feedback control?
What method of control involves the calculation of fixed and variable costs to analyze the point at which it becomes profitable to produce a good or service?
What method of control involves the calculation of fixed and variable costs to analyze the point at which it becomes profitable to produce a good or service?
Which type of budget includes projections of hours, space, and material to be used?
Which type of budget includes projections of hours, space, and material to be used?
Which type of control is exemplified by a Gantt chart?
Which type of control is exemplified by a Gantt chart?
'Identification of need to improve' is associated with which aspect of overall controls' impact?
'Identification of need to improve' is associated with which aspect of overall controls' impact?
What is the main focus of financial control through budgetary analysis?
What is the main focus of financial control through budgetary analysis?
Which type of control involves developing a quality manual and engaging in inspection?
Which type of control involves developing a quality manual and engaging in inspection?
What does Total Quality Management involve in relation to suppliers and customers?
What does Total Quality Management involve in relation to suppliers and customers?
What is the main purpose of project controls like Gantt charts?
What is the main purpose of project controls like Gantt charts?
What does break-even analysis help determine?
What does break-even analysis help determine?
What does concurrent control cope with?
What does concurrent control cope with?
What is the primary focus of feedforward control?
What is the primary focus of feedforward control?
What are the possible sources of performance standards?
What are the possible sources of performance standards?
What does concurrent control cope with?
What does concurrent control cope with?
Who can take corrective action in the control process?
Who can take corrective action in the control process?
'Identification of need to improve' is associated with which aspect of overall controls' impact?
'Identification of need to improve' is associated with which aspect of overall controls' impact?
Which type of control involves developing a quality manual and engaging in inspection?
Which type of control involves developing a quality manual and engaging in inspection?
What method of control involves the calculation of fixed and variable costs to analyze the point at which it becomes profitable to produce a good or service?
What method of control involves the calculation of fixed and variable costs to analyze the point at which it becomes profitable to produce a good or service?
What is the main focus of financial control through budgetary analysis?
What is the main focus of financial control through budgetary analysis?
'Setting performance standards' involves which types of sources?
'Setting performance standards' involves which types of sources?
'Taking corrective action' can be performed by which entities?
'Taking corrective action' can be performed by which entities?
'Feedforward Control' is aimed at which objective?
'Feedforward Control' is aimed at which objective?
Which type of control involves developing a quality manual and engaging in inspection?
Which type of control involves developing a quality manual and engaging in inspection?
What is the primary focus of feedforward control?
What is the primary focus of feedforward control?
What does break-even analysis help determine?
What does break-even analysis help determine?
'Identification of need to improve' is associated with which aspect of overall controls' impact?
'Identification of need to improve' is associated with which aspect of overall controls' impact?
'Implementation of desired practices' is associated with which aspect of overall controls' impact?
'Implementation of desired practices' is associated with which aspect of overall controls' impact?
What method of control involves the calculation of fixed and variable costs to analyze the point at which it becomes profitable to produce a good or service?
What method of control involves the calculation of fixed and variable costs to analyze the point at which it becomes profitable to produce a good or service?
Which type of budget includes projections for expenditure on plant and machinery?
Which type of budget includes projections for expenditure on plant and machinery?
What does Total Quality Management involve in relation to suppliers and customers?
What does Total Quality Management involve in relation to suppliers and customers?
Which type of control focuses on the transformation of inputs into outputs in real time?
Which type of control focuses on the transformation of inputs into outputs in real time?
What are the sources of performance standards?
What are the sources of performance standards?
'Identification of best practice' is associated with which aspect of overall controls' impact?
'Identification of best practice' is associated with which aspect of overall controls' impact?
Which type of control is future-directed and aimed at preventing mistakes before they occur?
Which type of control is future-directed and aimed at preventing mistakes before they occur?
What is the primary focus of concurrent control?
What is the primary focus of concurrent control?
What does break-even analysis help determine?
What does break-even analysis help determine?
'Identification of need to improve' is associated with which aspect of overall controls' impact?
'Identification of need to improve' is associated with which aspect of overall controls' impact?
'Setting performance standards' involves which types of sources?
'Setting performance standards' involves which types of sources?
Who can take corrective action in the control process?
Who can take corrective action in the control process?
What method of control involves the calculation of fixed and variable costs to analyze the point at which it becomes profitable to produce a good or service?
What method of control involves the calculation of fixed and variable costs to analyze the point at which it becomes profitable to produce a good or service?
'Implementation of desired practices' is associated with which aspect of overall controls' impact?
'Implementation of desired practices' is associated with which aspect of overall controls' impact?
What are the possible sources of performance standards?
What are the possible sources of performance standards?
Which type of budget includes projections for expenditure on plant and machinery?
Which type of budget includes projections for expenditure on plant and machinery?
What does Total Quality Management involve in relation to suppliers and customers?
What does Total Quality Management involve in relation to suppliers and customers?
What is the main purpose of project controls like Gantt charts?
What is the main purpose of project controls like Gantt charts?
Which of the following is an example of a non-financial control method?
Which of the following is an example of a non-financial control method?
What is the primary focus of concurrent control?
What is the primary focus of concurrent control?
Which type of budget includes projections for expenditure on plant and machinery?
Which type of budget includes projections for expenditure on plant and machinery?
'Taking corrective action' can be performed by which entities?
'Taking corrective action' can be performed by which entities?
'Identification of best practice' is associated with which aspect of overall controls' impact?
'Identification of best practice' is associated with which aspect of overall controls' impact?
'Feedforward Control' is aimed at which objective?
'Feedforward Control' is aimed at which objective?
What does break-even analysis help determine?
What does break-even analysis help determine?
What method of control involves developing a quality manual and engaging in inspection?
What method of control involves developing a quality manual and engaging in inspection?
What does Total Quality Management involve in relation to suppliers and customers?
What does Total Quality Management involve in relation to suppliers and customers?
'Identification of need to improve' is associated with which aspect of overall controls' impact?
'Identification of need to improve' is associated with which aspect of overall controls' impact?
What is the primary focus of feedback control?
What is the primary focus of feedback control?
What is the definition of control?
What is the definition of control?
What is the main focus of concurrent control?
What is the main focus of concurrent control?
What method of control involves the calculation of fixed and variable costs to analyze the point at which it becomes profitable to produce a good or service?
What method of control involves the calculation of fixed and variable costs to analyze the point at which it becomes profitable to produce a good or service?
'Setting performance standards' involves which types of sources?
'Setting performance standards' involves which types of sources?
'Identification of best practice' is associated with which aspect of overall controls' impact?
'Identification of best practice' is associated with which aspect of overall controls' impact?
'Feedforward Control' is aimed at which objective?
'Feedforward Control' is aimed at which objective?
'Implementation of desired practices' is associated with which aspect of overall controls' impact?
'Implementation of desired practices' is associated with which aspect of overall controls' impact?
What does Total Quality Management involve in relation to suppliers and customers?
What does Total Quality Management involve in relation to suppliers and customers?
What are the possible sources of performance standards?
What are the possible sources of performance standards?
What is feedforward control aimed at?
What is feedforward control aimed at?
What does break-even analysis help determine?
What does break-even analysis help determine?
'Taking corrective action' can be performed by which entities?
'Taking corrective action' can be performed by which entities?
Which type of control focuses on the transformation of inputs into outputs in real time?
Which type of control focuses on the transformation of inputs into outputs in real time?
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Study Notes
Control and Its Aspects
- Control is the process of monitoring and correcting the actions and activities of an organization to ensure that they align with its goals and objectives.
Sources of Performance Standards
- Organizational goals and objectives
- Industry benchmarks
- Historical data
- Expert judgment
- External standards and regulations
Sources of Performance Data
- Internal reports and documents
- External audits and assessments
- Customer feedback
- Financial statements and reports
- Industry benchmarks and trends
Feedforward Control
- Aims to prevent mistakes and deviations from occurring in the first place
- Focuses on anticipating and preparing for potential problems and taking proactive measures to prevent them
Corrective Action
- Can be taken by managers, supervisors, and employees
- Involves identifying and correcting deviations and taking steps to prevent them from happening again
Concurrent Control
- Focuses on the transformation of inputs into outputs in real time
- Involves monitoring and correcting processes as they occur
Financial Control
- Focuses on the financial aspects of organizational performance
- Involves budgeting, forecasting, and analysis of financial data
Total Quality Management (TQM)
- Involves a comprehensive approach to quality management
- Focuses on continuous improvement and customer satisfaction
- Involves suppliers and customers in the quality management process
Break-Even Analysis
- Helps determine the point at which an organization's revenue equals its total fixed and variable costs
- Involves calculating the break-even point to determine profitability
Budgeting
- Involves projecting financial resources and allocating them to various activities and departments
- Can include projections for expenditure on plant and machinery, labor, and materials
Gantt Charts
- A type of project control that focuses on the scheduling and timing of tasks and activities
- Helps managers plan and coordinate projects and activities
Quality Control
- Involves developing a quality manual and engaging in inspection and testing
- Focuses on ensuring that products or services meet certain standards and specifications
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