Podcast
Questions and Answers
Match the type of control with its definition.
Match the type of control with its definition.
Feedforward = Focuses on preventing future problems Concurrent = Focuses on collecting performance information in real time Feedback = Focuses on collecting performance information after a task or project is complete
The level of control in which top managers monitor performance to ensure that plans are being implemented is known as ______ control.
The level of control in which top managers monitor performance to ensure that plans are being implemented is known as ______ control.
strategic
Which management function is involved with monitoring performance and taking corrective action as needed?
Which management function is involved with monitoring performance and taking corrective action as needed?
Which of the following is an example of a physical area of control?
Which of the following is an example of a physical area of control?
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A web retailer has received several negative social media reviews. Which reason for why control is needed does this best demonstrate?
A web retailer has received several negative social media reviews. Which reason for why control is needed does this best demonstrate?
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The supply chain is managed and handled only by lower-level employees.
The supply chain is managed and handled only by lower-level employees.
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Like an instrument panel in a vehicle, a(n) ______ is a managerial report that displays easy-to-read graphics on critical information.
Like an instrument panel in a vehicle, a(n) ______ is a managerial report that displays easy-to-read graphics on critical information.
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Sonja's manager shows her some tricks for steaming milk. This is an example of which type of control?
Sonja's manager shows her some tricks for steaming milk. This is an example of which type of control?
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Which level of management is typically responsible for strategic control?
Which level of management is typically responsible for strategic control?
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The ______ approach gives upper management a quick view of the organization via four indicators.
The ______ approach gives upper management a quick view of the organization via four indicators.
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Which area of control involves installing security cameras for safety?
Which area of control involves installing security cameras for safety?
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A ______ map is a visual representation of the four perspectives of the balanced scorecard.
A ______ map is a visual representation of the four perspectives of the balanced scorecard.
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The sequence of suppliers that contribute to creating and delivering a product is known as the ______.
The sequence of suppliers that contribute to creating and delivering a product is known as the ______.
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The point of a ______ is to provide a yardstick against which managers can judge performance.
The point of a ______ is to provide a yardstick against which managers can judge performance.
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What is a formal verification of an organization's financial and operational systems?
What is a formal verification of an organization's financial and operational systems?
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What are two types of audits?
What are two types of audits?
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Which philosophy proposed ideas for making organizations more responsive, democratic, and less wasteful?
Which philosophy proposed ideas for making organizations more responsive, democratic, and less wasteful?
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What are characteristics of a successful control system?
What are characteristics of a successful control system?
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Since service industries do not produce a tangible product, customer satisfaction may rely on ______.
Since service industries do not produce a tangible product, customer satisfaction may rely on ______.
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What type of systems integrate virtually all aspects of a business?
What type of systems integrate virtually all aspects of a business?
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How can benchmarking be used to help increase productivity?
How can benchmarking be used to help increase productivity?
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One roadblock to TQM is the failure to develop a culture of continuous learning.
One roadblock to TQM is the failure to develop a culture of continuous learning.
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Which statements are true concerning the management of individual productivity?
Which statements are true concerning the management of individual productivity?
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Which of the following are characteristics of a successful control system?
Which of the following are characteristics of a successful control system?
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Overemphasis on certain approaches, too much control, and lack of employee participation are barriers to ______.
Overemphasis on certain approaches, too much control, and lack of employee participation are barriers to ______.
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What are recommended actions for managing your career?
What are recommended actions for managing your career?
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Which of the following are keys to managerial success?
Which of the following are keys to managerial success?
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What is the term for the set of guidelines that represent the most efficient course of action?
What is the term for the set of guidelines that represent the most efficient course of action?
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Which of the following individuals is in the best position to increase individual productivity?
Which of the following individuals is in the best position to increase individual productivity?
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A successful control system is which of the following?
A successful control system is which of the following?
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What are small deal-breakers in a job interview?
What are small deal-breakers in a job interview?
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What approach to management is Petra using?
What approach to management is Petra using?
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Study Notes
Types of Control
- Feedforward Control: Prevents future problems by anticipating issues before they occur.
- Concurrent Control: Involves real-time monitoring of performance during the execution of tasks.
- Feedback Control: Analyzes performance post-completion of tasks to assess success and areas for improvement.
Levels of Control
- Strategic Control: Oversight by top managers to ensure effective implementation of plans and corrective actions as necessary.
Management Functions
- Controlling: The key management function that involves monitoring performance, comparing results with goals, and enacting corrective actions.
Physical Area of Control
- Example: Monitoring usage of conference rooms as a means of ensuring effective resource allocation.
Importance of Control
- Control systems help discover irregularities and errors, illustrated by negative feedback from customers due to missed shipments.
Supply Chain Management
- A critical component impacting finances; involves managing costs and efficiencies within the series of suppliers contributing to product delivery.
Control Process Steps
- Establish standards → Measure performance → Compare performances to standards → Take corrective actions as needed.
Management Reports
- Dashboard: A visual managerial tool displaying critical information through graphics related to sales, costs, and orders.
Types of Audits
- External and Internal Audits: Evaluate financial and operational systems for compliance and effectiveness.
Total Quality Management (TQM)
- Focus on continuous quality improvement and customer satisfaction as core components of organizational success.
Barriers to Successful Control
- Overemphasis on paperwork, overly strict control measures, and lack of employee engagement in planning hinder the effectiveness of control systems.
Best Practices
- Guidelines representing optimal procedures in an organization, emphasizing efficiency and prudent decision-making.
Individual Productivity Factors
- Affected by management behavior, employee motivation, work environment, and personal energy levels.
Career Management
- Essential actions include networking, staying informed, and focusing on the value of each day in professional development.
Benchmarking
- A practice of comparing performance against peers or world-class performers to identify areas of improvement and enhance productivity.
Characteristics of a Successful Control System
- Effectiveness is determined by systems being timely, accurate, objective, strategic, results-oriented, realistic, and understandable.
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Description
This quiz focuses on Chapter 16 of Management Control Systems, exploring different types of control mechanisms. Match the types of control with their definitions, comparing feedforward, concurrent, and feedback controls, as well as understanding managerial oversight.
