Podcast
Questions and Answers
Which management function is involved with monitoring performance, comparing it with goals, and taking corrective action as needed?
Which management function is involved with monitoring performance, comparing it with goals, and taking corrective action as needed?
Controlling
Which of the following are reasons why control is needed in an organization? (Select all that apply)
Which of the following are reasons why control is needed in an organization? (Select all that apply)
- To detect opportunities (correct)
- To reduce costs and increase productivity (correct)
- To adapt to change and uncertainty (correct)
- To discover errors and irregularities (correct)
Sonja is a barista. Her manager has been hearing reports that Sonja's lattes taste like the milk is burned. What type of control is this an example of?
Sonja is a barista. Her manager has been hearing reports that Sonja's lattes taste like the milk is burned. What type of control is this an example of?
Feedback
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.
The purpose of ______ is to monitor performance and take corrective action as needed to ensure that objectives are met.
The purpose of ______ is to monitor performance and take corrective action as needed to ensure that objectives are met.
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?
A web retailer has received several negative social media reviews due to missed shipments. What reason for why control is needed does this best demonstrate?
A web retailer has received several negative social media reviews due to missed shipments. What reason for why control is needed does this best demonstrate?
Place the four steps of the control process in their typical order: ______, ______, ______, ______.
Place the four steps of the control process in their typical order: ______, ______, ______, ______.
Which of the following statements about the supply chain are true? (Select all that apply)
Which of the following statements about the supply chain are true? (Select all that apply)
What is the focus of feedforward control?
What is the focus of feedforward control?
What is the focus of concurrent control?
What is the focus of concurrent control?
What is the focus of feedback control?
What is the focus of feedback control?
A(n) ______ in business management is a display of information, such as sales, orders, and costs, in easy-to-read graphics.
A(n) ______ in business management is a display of information, such as sales, orders, and costs, in easy-to-read graphics.
Which level of management is typically responsible for strategic control?
Which level of management is typically responsible for strategic control?
What are the indicators that make up the balanced scorecard?
What are the indicators that make up the balanced scorecard?
An office park installs security cameras in the parking lot for tenant safety. This is an example of the ______ area of control.
An office park installs security cameras in the parking lot for tenant safety. This is an example of the ______ area of control.
A visual representation of the four perspectives of the balanced scorecard is called a ______.
A visual representation of the four perspectives of the balanced scorecard is called a ______.
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 ______.
Like an instrument panel in a vehicle, a(n) ______ displays easy-to-read graphics on critical information.
Like an instrument panel in a vehicle, a(n) ______ displays easy-to-read graphics on critical information.
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.
As a property manager, Alisha develops a projection of costs for the next 12 months. She has prepared a(n) ______.
As a property manager, Alisha develops a projection of costs for the next 12 months. She has prepared a(n) ______.
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.
A summary of an organization's financial status such as a balance sheet is called a ______.
A summary of an organization's financial status such as a balance sheet is called a ______.
The two types of audits are ______.
The two types of audits are ______.
A(n) ______ is a formal financial projection that states an organization's planned activities.
A(n) ______ is a formal financial projection that states an organization's planned activities.
Which philosophy proposed ideas for making organizations more responsive and less wasteful?
Which philosophy proposed ideas for making organizations more responsive and less wasteful?
What are basic types of financial statements? (Select all that apply)
What are basic types of financial statements? (Select all that apply)
The focus of total quality management (TQM) is ______, training, and customer satisfaction.
The focus of total quality management (TQM) is ______, training, and customer satisfaction.
Which of the following is a formal verification of an organization's financial and operational systems?
Which of the following is a formal verification of an organization's financial and operational systems?
In the service industry, customer satisfaction is often based on perception.
In the service industry, customer satisfaction is often based on perception.
Halimax has been hired for security at major events. This is an example of ______.
Halimax has been hired for security at major events. This is an example of ______.
Deming management proposed ideas for making organizations more responsive, more democratic, and ______.
Deming management proposed ideas for making organizations more responsive, more democratic, and ______.
One roadblock that can keep TQM from delivering its intended benefits is the failure to develop a culture of continuous learning.
One roadblock that can keep TQM from delivering its intended benefits is the failure to develop a culture of continuous learning.
Which approach is dedicated to continuous quality improvement, training, and customer satisfaction?
Which approach is dedicated to continuous quality improvement, training, and customer satisfaction?
Since service industries do not produce a tangible product, often customer satisfaction may be a matter of ______.
Since service industries do not produce a tangible product, often customer satisfaction may be a matter of ______.
What characterizes a successful control system?
What characterizes a successful control system?
What are key inhibitors to implementing TQM successfully?
What are key inhibitors to implementing TQM successfully?
Which of the following are common barriers to a successful control system? (Select all that apply)
Which of the following are common barriers to a successful control system? (Select all that apply)
What type of systems are information systems used to integrate virtually all aspects of a business?
What type of systems are information systems used to integrate virtually all aspects of a business?
How can benchmarking be used to help increase productivity?
How can benchmarking be used to help increase productivity?
Which of the following statements are true concerning the management of individual productivity? (Select all that apply)
Which of the following statements are true concerning the management of individual productivity? (Select all that apply)
Which of the following are characteristics of a successful control system? (Select all that apply)
Which of the following are characteristics of a successful control system? (Select all that apply)
Overemphasis on one instead of multiple approaches, too much control, and too little employee participation are barriers to ______.
Overemphasis on one instead of multiple approaches, too much control, and too little employee participation are barriers to ______.
What is the term for the set of guidelines, ethics, or ideas that represent the most efficient or prudent course of action?
What is the term for the set of guidelines, ethics, or ideas that represent the most efficient or prudent course of action?
Fran and her friends are discussing their work situations. Which of them is in the best situation for increasing her individual productivity?
Fran and her friends are discussing their work situations. Which of them is in the best situation for increasing her individual productivity?
Study Notes
Controlling in Management
- Controlling involves monitoring performance, comparing it with goals, and taking corrective action as necessary.
- Reasons for control in organizations: adapt to change, discover errors, detect opportunities, reduce costs, and boost productivity.
Types of Control
- Feedback control provides information after a task is completed, enabling performance improvement.
- Strategic control is monitored by top managers to ensure plans align with organizational objectives.
- Physical control can include monitoring assets, such as conference room usage or security measures.
Performance Control Process
- Steps in the control process:
- Establish standards
- Measure performance
- Compare performance to standards
- Take corrective actions
Supply Chain Management
- The supply chain includes the sequence of suppliers involved in creating and delivering a product.
- It significantly impacts business operations and costs.
Balanced Scorecard
- Indicators of the balanced scorecard: customer satisfaction, internal processes, financial measures, and innovation.
- Strategy maps visually represent goals, linking employee roles to organizational objectives.
Budgeting and Financial Statements
- A budget outlines planned financial activities over a specific period.
- Financial statements serve as summaries of an organization’s financial status, including income statements and balance sheets.
Quality Management
- Total Quality Management (TQM) emphasizes continuous quality improvement, training, and customer satisfaction.
- A culture of continuous learning is essential for TQM success, with potential roadblocks including inadequate quality culture and lack of supporting evidence.
Productivity Management
- Organizational and managerial roles: organizations shape the work environment, individuals apply energy and motivation, while managers influence productivity through their behavior.
- Successful control systems are strategic, results-oriented, timely, accurate, and realistic.
Barriers to Effective Control
- Common obstacles to control success: insufficient employee planning participation, excessive documentation, and an overly controlling environment.
Information Systems
- Enterprise Resource Planning (ERP) systems integrate various business functions, optimizing overall efficiency.
Benchmarking
- Benchmarking compares performance within an industry or against world-class performers to identify areas for improvement.
Best Practices
- Best practices refer to guidelines or ideas that represent the most efficient course of action in business operations.
Individual Productivity
- Supporting individual productivity can include reimbursement for education, enhancing engagement in the workplace.
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Description
Test your knowledge on the controlling function of management with this set of flashcards. It covers key concepts like reasons for control in organizations and performance monitoring. Perfect for students studying management principles.
