Management Control Process Quiz

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What is the definition of control?

The process of ensuring the effective and efficient achievement of organisational goals

What are the sources of performance standards?

Historical standards, comparative standards, engineering standards

What are the possible sources of performance data?

Written reports, oral reports, personal observation

What is feedforward control aimed at?

Preventing mistakes before they occur Signup and view all the answers

Who can take corrective action in the control process?

Top management, a specialist, operators themselves Signup and view all the answers

What is concurrent control focused on?

Monitoring mistakes while they occur Signup and view all the answers

Which type of control focuses on the transformation of inputs into outputs in real time?

Concurrent Control Signup and view all the answers

What is the primary focus of feedback control?

Monitoring outputs to ensure they meet standards Signup and view all the answers

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?

Break even analysis Signup and view all the answers

Which type of budget includes projections of hours, space, and material to be used?

$Time$, $space$, $material$, and $production$ Budget Signup and view all the answers

Which type of control is exemplified by a Gantt chart?

$Non-Financial$ Project Control Signup and view all the answers

'Identification of need to improve' is associated with which aspect of overall controls' impact?

$Identification$ of need to improve Signup and view all the answers

What is the main focus of financial control through budgetary analysis?

Comparing actual revenues, expenses, and sales to expected values Signup and view all the answers

Which type of control involves developing a quality manual and engaging in inspection?

Quality control Signup and view all the answers

What does Total Quality Management involve in relation to suppliers and customers?

Involving both suppliers and customers in quality processes Signup and view all the answers

What is the main purpose of project controls like Gantt charts?

Monitoring outputs after project completion Signup and view all the answers

What does break-even analysis help determine?

Volume needed to reach break-even point for a product or service Signup and view all the answers

What does concurrent control cope with?

Contingencies not anticipated during work execution Signup and view all the answers

What is the primary focus of feedforward control?

Identifying and preventing mistakes before they occur Signup and view all the answers

What are the possible sources of performance standards?

Historical standards, comparative standards, engineering standards Signup and view all the answers

What does concurrent control cope with?

Transformation of inputs into outputs in real time Signup and view all the answers

Who can take corrective action in the control process?

Top management, specialists, operators themselves Signup and view all the answers

'Identification of need to improve' is associated with which aspect of overall controls' impact?

'Feedback' as an essential part of the architecture of control Signup and view all the answers

Which type of control involves developing a quality manual and engaging in inspection?

Feedback control Signup and view all the answers

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?

Financial control Signup and view all the answers

What is the main focus of financial control through budgetary analysis?

Analyzing costs and profits to ensure financial efficiency Signup and view all the answers

'Setting performance standards' involves which types of sources?

Historical standards, comparative standards, engineering standards Signup and view all the answers

'Taking corrective action' can be performed by which entities?

Top management, specialists, operators themselves Signup and view all the answers

'Feedforward Control' is aimed at which objective?

Identifying and preventing mistakes before they occur Signup and view all the answers

Which type of control involves developing a quality manual and engaging in inspection?

Total Quality Control Signup and view all the answers

What is the primary focus of feedforward control?

Coping with contingencies which are not anticipated Signup and view all the answers

What does break-even analysis help determine?

Point at which it becomes profitable to produce a good or service Signup and view all the answers

'Identification of need to improve' is associated with which aspect of overall controls' impact?

Identification of need to improve Signup and view all the answers

'Implementation of desired practices' is associated with which aspect of overall controls' impact?

Implementation of desired practices Signup and view all the answers

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?

Financial Control: Budgetary Signup and view all the answers

Which type of budget includes projections for expenditure on plant and machinery?

Capital Expenditure Budget Signup and view all the answers

What does Total Quality Management involve in relation to suppliers and customers?

Involves Suppliers and Customers Signup and view all the answers

Which type of control focuses on the transformation of inputs into outputs in real time?

Concurrent Control Signup and view all the answers

What are the sources of performance standards?

Both Financial and Non-Financial Controls Signup and view all the answers

'Identification of best practice' is associated with which aspect of overall controls' impact?

Identification of best practice Signup and view all the answers

Which type of control is future-directed and aimed at preventing mistakes before they occur?

Feedforward control Signup and view all the answers

What is the primary focus of concurrent control?

Transformation of inputs into outputs in real time Signup and view all the answers

What does break-even analysis help determine?

Fixed and variable costs Signup and view all the answers

'Identification of need to improve' is associated with which aspect of overall controls' impact?

'Identification of best practice' Signup and view all the answers

'Setting performance standards' involves which types of sources?

Historical standards, comparative standards, and financial standards Signup and view all the answers

Who can take corrective action in the control process?

Any of the above Signup and view all the answers

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?

Financial control Signup and view all the answers

'Implementation of desired practices' is associated with which aspect of overall controls' impact?

'Identification of best practice' Signup and view all the answers

What are the possible sources of performance standards?

Historical standards, comparative standards, and financial standards Signup and view all the answers

Which type of budget includes projections for expenditure on plant and machinery?

Capital budget Signup and view all the answers

What does Total Quality Management involve in relation to suppliers and customers?

Including both suppliers and customers in quality considerations Signup and view all the answers

What is the main purpose of project controls like Gantt charts?

To allocate resources effectively throughout the project timeline Signup and view all the answers

Which of the following is an example of a non-financial control method?

Gantt chart Signup and view all the answers

What is the primary focus of concurrent control?

Control of the transformation of inputs into outputs in real time Signup and view all the answers

Which type of budget includes projections for expenditure on plant and machinery?

Capital Expenditure Budget Signup and view all the answers

'Taking corrective action' can be performed by which entities?

Managers and employees Signup and view all the answers

'Identification of best practice' is associated with which aspect of overall controls' impact?

'Implementation of desired practices' Signup and view all the answers

'Feedforward Control' is aimed at which objective?

Anticipating and preventing problems before they occur Signup and view all the answers

What does break-even analysis help determine?

The point at which it becomes profitable to produce a good or service Signup and view all the answers

What method of control involves developing a quality manual and engaging in inspection?

Total Quality Management Signup and view all the answers

What does Total Quality Management involve in relation to suppliers and customers?

Involving suppliers and customers in comprehensive policies and operations Signup and view all the answers

'Identification of need to improve' is associated with which aspect of overall controls' impact?

'Identification of need to improve' Signup and view all the answers

What is the primary focus of feedback control?

Monitoring outputs after the product/service has been completed Signup and view all the answers

What is the definition of control?

The process of ensuring that outputs meet standards through real-time monitoring Signup and view all the answers

What is the main focus of concurrent control?

Ensuring material and staff are available when needed Signup and view all the answers

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?

Break even analysis Signup and view all the answers

'Setting performance standards' involves which types of sources?

Internal and external sources Signup and view all the answers

'Identification of best practice' is associated with which aspect of overall controls' impact?

Identification of best practice Signup and view all the answers

'Feedforward Control' is aimed at which objective?

Preventing mistakes before they occur Signup and view all the answers

'Implementation of desired practices' is associated with which aspect of overall controls' impact?

'Implementation of desired practices' Signup and view all the answers

What does Total Quality Management involve in relation to suppliers and customers?

Comprehensive Policies; Involves Suppliers and Customers; Applies to all Operations; Premised on Empowerment and Involvement at source. Signup and view all the answers

What are the possible sources of performance standards?

Internal and external sources Signup and view all the answers

What is feedforward control aimed at?

Preventing mistakes before they occur by setting performance standards. Signup and view all the answers

What does break-even analysis help determine?

The point at which it becomes profitable to produce a good or service by analyzing fixed and variable costs. Signup and view all the answers

'Taking corrective action' can be performed by which entities?

Both a) Managers, employees, or automated systems within the organization. b) Suppliers, customers, or regulators outside the organization. Signup and view all the answers

Which type of control focuses on the transformation of inputs into outputs in real time?

Concurrent Control Signup and view all the answers

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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