M8

Question 1

is a function of management which helps to check errors in order to take corrective actions. It is a foreseeing action.

Answer 1

CONTROLLING

Question 2

needs to exercise effective control over the activities of the subordinates in order to seek planned results from the subordinates.

Answer 2

MANAGER

Question 3

is established to serve as a model for evaluating organizational performance.

Answer 3

CONTROLLING

Question 4

FUNCTIONS OF CONTROLLING

Answer 4

• GENERAL ACCOUNTING
• BUDGETING
• COST ACCOUNTING
• PERFORMANCE REPORTING
• DATA PROCESSING
• OTHER DUTIES

Question 5

maintain the company’s accounting books, accounting records, and forms.

Answer 5

GENERALA ACCOUNTING

Question 6

prepare a budget outlining the company’s figure operations and cash requirements.

Answer 6

BUDGETING

Question 7

determine the cost to manufacture a product and prepare internal reports for management of the processing divisions.

Answer 7

COST ACCOUNTING

Question 8

identify individuals in the organization who control activities and prepare reports to show how well or how poorly they perform.

Answer 8

PERFORMANCE REPORTING

Question 9

assist in the analysis and design of a data-based information system.

Answer 9

DATA PROCESSING

Question 10

that may be assigned to the other controller, by the president, or by corporate by laws.

Answer 10

OTHER DUTIES

Question 11

MAIN STEPS OF CONTROLLING PROCESS

Answer 11

• MEASURE PERFORMANCE
• COMPARING MEASURE PERFORMANCE TO STANDARDS
• TAKING CORRECTIVE ACTIONS

Question 12

Measures performance over time

Answer 12

KEY PERFORMANCE INDICATORS (KPI)

Question 13

Focuses on the ultimate results of a specific activity

Answer 13

KEY PERFORMANCE INDICATORS (KPI)

Question 14

Makes sure the business works “as usual”

Answer 14

KEY PERFORMANCE INDICATORS (KPI)

Question 15

TYPES OF MEASURING (PERFORMANCE)

Answer 15

• KPI
• OKR
• BENCHMARKING
• PERFORMANCE REVIEWS
• SERVICE LEVEL AGREEMENTS

Question 16

Define measurable goals and target outcomes

Answer 16

OBJECTIVES AND KEY RESULTS (OKR)

Question 17

Small goals that lead to defined objectives

Answer 17

OBJECTIVE AND KEY RESULTS

Question 18

Process of measuring key business metrics and practices and comparing them within business areas or other companies to understand how the organization needs to change in order to improve performance.

Answer 18

BENCHMARKING

Question 19

Document that outlines a commitment between a service provider and a client, including details of the service, the standards the provider must adhere to, and the metrics to measure the performance.

Answer 19

SERVICE LEVEL AGREEMENT

Question 20

Formal assessment in which a manager evaluates an employee’s work performance.

Answer 20

PERFORMANCE REVIEWS

Question 21

are the yardsticks that determine whether organizational performance is adequate or inadequate.

Answer 21

YARDSTICKS

Question 22

Example of standards:

Answer 22

• PROFITABILITY STANDARDS
• MARKET POSITION STANDARDS
• PRODUCT LEADERSHIP STANDARDS
• PRODUCTIVITY STANDARDS
• PERSONNEL DEVELOPMENT STANDARDS
• SOCIAL RESPONSIBILITY STANDARDS

Question 23

is managerial activity aimed at bringing organizational performance up to the level of performance standards.

Answer 23

CORRECTIVE ACTION

Question 24

focuses on correcting the organizational mistakes that are hindering organizational performance.

Answer 24

CORRECTIVE ACTION

Question 25

is the extent to which an individual is able to influence others so that they respond to orders.

Answer 25

POWER

Question 26

T/F? The greater this ability, the more power an individual is said to have.

Answer 26

T

Question 27

POWER OF A MANAGER

Answer 27

- POSITION POWER - PERSONAL POWER

Question 28

Power derived from the organizational position a manager holds.

Answer 28

POSITION POWER

Question 29

is generally enhanced by a move to a higher organizational position.

Answer 29

POSITION POWER

Question 30

derived from a manager’s relationship with others.

Answer 30

PERSONAL POWER

Question 31

STEPS FOR INCREASING TOTAL POWER OF A MANAGER

Answer 31

- A sense of obligation toward the manager - A belief that the manager possesses a significant level of expertise within the organization - A sense of identification with the manager The perception that they are dependent on the manager

Question 32

The basic strategy suggested for creating this sense of obligation is to do personal favors for people.

Answer 32

A SENSE OF OBLIGATION TOWARD THE MANAGER

Question 33

Managers must quietly make their notable achievements visible to others and create a successful track record and a solid professional reputation.

Answer 33

A BELIEF THAT THE MANAGER POSSESSES A SIGNIFICANT LEVEL OF EXPERTISE WITHIN THE ORGANIZATION

Question 34

A manager’s personal power increases as organization members perceive that the ___

Answer 34

MANAGER'S LEVEL OF EXPERTISE IS SIGNIFICANT

Question 35

A manager can strive to develop this identification by behaving in ways that other organization members respect and by espousing the goals, values and ideals that the organization members commonly hold.

Answer 35

A SENSE OF IDENTIFICATION WITH THE MANAGER

Question 36

The main strategy here is to clearly convey the amount of authority the manager has over organizational resources – not only those necessary for organization members to do their jobs, but also those that organization members personally receive in such forms as salaries and bonuses.

Answer 36

THE PERCEPTION THAT THEY ARE DEPENDENT ON THE MANAGER