controlling (12)

Question 1

_____ is the process of measuring performance and making sure things turn out as intended. And, information is its foundation.

Answer 1

controlling

Question 2

______ sets the directions and allocates resources.

Answer 2

planning

Question 3

______ brings people and material resources together in working combinations.

Answer 3

organizing

Question 4

_____ inspires people to best utilize these resources.

Answer 4

leading

Question 5

_____ sees to it that the right things happen, in the right way, and at the right time.

Answer 5

controlling

Question 6

It helps ensure that performance is consistent with plans, and that accomplishments throughout an organization are coordinated in a means-ends fashion.

Answer 6

controlling

Question 7

It also helps ensure that people comply with organizational policies and procedures.

Answer 7

controlling

Question 8

____ to set the direction. Decide where you want to go. Decide how to best go about it.

Answer 8

planning

Question 9

_____ to inspire effort.

Answer 9

leading

Question 10

____ to ensure results. Measure performances. Take corrective action.

Answer 10

controlling

Question 11

______ to create structures.

Answer 11

organizing

Question 12

It shows how feedforward, concurrent, and feedback controls link with different phases of the input-throughput-output cycle.

Answer 12

open-systems perspective

Question 13

_____, also called preliminary controls, take place before a work activity begins.

Answer 13

feedforward controls

Question 14

They ensure that objectives are clear, that proper directions are established, and that the right resources are available to accomplish the objectives.

Answer 14

feedforward contols

Question 15

The goal is to solve problems before they occur by asking an important but often neglected question: “What needs to be done before we begin?”

Answer 15

feedforward controls

Question 16

_____ focus on what happens during the work process. Sometimes called steering controls, they make sure things are being done according to plan.

Answer 16

concurrent controls

Question 17

The goal of _____ is to solve problems as they occur. The key question is, “What can we do to improve things right now?”

Answer 17

concurrent controls

Question 18

You cam also think of this as control through direct supervision.

Answer 18

concurrent controls

Question 19

_____, also called post-action controls, takes place after work is completed.

Answer 19

feedback controls

Question 20

The focus in the quality of end results rather than on inputs and activities.

Answer 20

feedback controls

Question 21

______ are largely reactive; the goals are to solve problems after they occur and prevent future ones. They ask the question: “Now that we are finished, how well did we do?”

Answer 21

feedback controls

Question 22

The control process involves the four steps: _____

Answer 22

1. establish performance objectives
2. measure actual performance
3. compare actual performance with objectives and standards
4. take corrective action as needed

Question 23

The control process begins with planning when performance objectives and standards for measuring them are set. It cannot start without them.

Answer 23

step 1- establish objectives and standards

Question 24

_____ identify key results that one wants to accomplish, and the word key deserves emphasis.

Answer 24

performance objectives

Question 25

The focus in _____ should be on describing “critical” or “essential” results that will make a substantial performance difference.

Answer 25

planning

Question 26

______ measure actual outcomes or work results.

Answer 26

output standards

Question 27

______ measure work efforts.

Answer 27

input standards

Question 28

Businesses use many ______, such as earning per share sales growth, and market share.

Answer 28

output standards

Question 29

Examples of _______ for a college professor might be the existence of an orderly course syllabus, meeting all class sessions, and returning exams and assignments in a timely fashion.

Answer 29

input standards

Question 30

The second step in the control process is to _______.

Answer 30

step 2 - measure actual performance

Question 31

It is the point where output standards and input standards are used to carefully document results.

Answer 31

measure actual performance

Question 32

_____ in the control process must be accurate enough to spot significant differences between what is really taking place and what was originally planned. Without measurement, effective control is not possible.

Answer 32

performance measurements

Question 33

Control equation: Need for Action = ________ - _______

Answer 33

desired performance - actual performance

Question 34

The third step in the control process is to _______.

Answer 34

step 3 - compare results with objectives and standards

Question 35

_______ comparisons (recording quantitative data to closely monitor)

Answer 35

engineering

Question 36

_____ comparisons, where past experience becomes the baseline for evaluating current performance

Answer 36

historical

Question 37

_____ comparisons that benchmark performance against that being achieved by other people, work units, or organizations

Answer 37

relative

Question 38

The final step in the control process is to take the action needed to correct problems or make improvements.

Answer 38

step 4 - take corrective action

Question 39

_____ is the practice of giving attention to situations that show the greatest need for action. It saves time, energy, and other resources by focusing attention on high-priority areas.

Answer 39

management by exception

Question 40

What are the five control tools and techniques? _____

Answer 40

• project management and control
• inventory control
• breakeven analysis
• financial controls
• balanced scorecards

Question 41

_____ is the responsibility for overall planning, supervision, and control of projects.

Answer 41

project management

Question 42

A ______’s job is to ensure that a project is well planned and then completed according to plan— on time, within budget, and consistent with objectives.

Answer 42

project manager

Question 43

Two useful techniques for project management and control are: _____

Answer 43

• Gantt charts
• critical path method/program evaluation review technique

Question 44

_____ is always an important performance concern. And a very good place to start is with inventory.

Answer 44

cost control

Question 45

The goal of _____ is to make sure that any inventory is only big enough to meet immediate needs.

Answer 45

inventory control

Question 46

Useful techniques of inventory control: ____

Answer 46

• economic order quantity (EOQ)
• just-in-time scheduling (JIT)

Question 47

_____ form of inventory control automatically orders a fixed number of items every time an inventory level falls to a predetermined point.

Answer 47

economic order quantity (EOQ)

Question 48

_____ reduce costs and improve workflow by scheduling materials to arrive at a workstation or facility just in time for use.

Answer 48

just-in-time scheduling (JIT)

Question 49

____ occurs at the point where revenues just equal costs. You can also think of it as where losses end and profit begins.

Answer 49

breakeven

Question 50

A breakeven point is computed using this formula: ____

Answer 50

breakeven point = fixed costs / (price - variable costs)

Question 51

____ is all about measurement, and there are several ways that financial performance can be measured and tracked for control purposes.

Answer 51

control

Question 52

The following are some or the financial controls: ____

Answer 52

• balance sheet
• income statement

Question 53

____ shows assets and liabilities at a point in time.

Answer 53

balance sheet

Question 54

_____ shows profits or losses at a point in time.

Answer 54

income statement

Question 55

Financial controls of this nature often involve measures of the following: ____

Answer 55

• liquidity
• leverage
• asset management
• profitability

Question 56

_____ ability to generate cash to pay bills

Answer 56

liquidity

Question 57

_____ ability to earn more in returns than the cost of debt

Answer 57

leverage

Question 58

_____ ability to use resources efficiently and operate at minimum cost

Answer 58

asset management

Question 59

_____ ability to earn revenues greater than costs

Answer 59

profitability

Question 60

A _____ tallies organizational performance in financial, customer service, internal process, and innovation and learning areas. It gives top managers “a fast, but comprehensive view of the business.

Answer 60

balance scorecards