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Exam 14: Managing Control

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Question 1

Multiple Choice

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_____ is the process of comparing a firm's practices and technologies with those of other organizations.

A) Benchmarking
B) Budgeting
C) Six Sigma
D) Management audit
E) Feedforward control

F) C) and E)
G) A) and E)

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Question 2

Multiple Choice

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_____ control includes items such as budgets, statistical reports, and performance appraisals to regulate behavior and results.

A) Clan
B) Market
C) Bureaucratic
D) Concurrent
E) Feedforward

F) B) and E)
G) All of the above

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Question 3

True/False

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Budgetary control is the process of finding out what's being done and comparing the results with the corresponding budget data to verify accomplishments or remedy differences.

Jane, an employee, received an e-mail from an angry client about a certain product. Although it was not Jane's fault, she hesitated to report it to her manager because she knew that she would be blamed for it and could even be fired. Based on this scenario, which of the following is true of Jane's company?

A company is said to lack _____ when there is an absence of policies and a lack of periodic reviews.

Which of the following statements is true regarding Six Sigma?

The _____ states that control is enhanced by concentrating on the exceptions to, or significant deviations from, the expected result or standard.

_____ refers to the situation when managers focus on short-term earnings and profits at the expense of their longer-term strategic obligations.

Effective managers make sure that activities are going as planned with the help of control.

The activity-based costing method allocates costs across business processes and provides a more accurate picture of how costs should be charged to products and services.

_____ involves creating relationships built on mutual respect and encouraging each individual to take responsibility for his or her actions.

External audits provide essential feedback control when they identify legal and ethical lapses that could harm the organization and its reputation.

Which type of bureaucratic control takes place while plans are being carried out?

Some means of control are necessary because once managers form plans and strategies, they must ensure that the plans are carried out.

The downside of establishing performance targets and standards is that they may not be supported by other elements of the control system.

Control based on the norms, values, shared goals, and trust among group members is referred to as:

Carlos noticed a pattern at the annual budgeting session of his company. Mid-level managers were asking for unrealistically high budgets while top management was attempting to limit budgets under last year's actual expenditures. The management's strategies are referred to as:

In feedforward control, a manager waits for results and compares them with goals.

Relying exclusively on financial ratios is effective because they provide performance standards and indicators of what has occurred.

An effective approach for checking an enterprise's overall performance is to use key financial ratios.