Question 1

The ________ is the most commonly used financial performance measure.
A)current ratio
B)inventory turnover
C)return on investment
D)gross profit
E)quick ratio

Accepted Answer

Return on investment (ROI) is a widely used financial performance measure because it evaluates the efficiency of an investment or compares the efficiency of several different investments.

Question 2

Define and discuss feedforward control,concurrent control,and feedback control.

Accepted Answer

The answer of Define and discuss feedforward control,concurrent control,and feedback...

Question 3

Describe the problems associated with direct supervision as a behavioural control mechanism.

Accepted Answer

The answer of Describe the problems associated with direct supervision...

Question 4

The control process can be broken down into four steps.Discuss these four steps,as they would apply to an important management situation of your choosing.

Accepted Answer

The answer of The control process can be broken down...

Question 5

This ratio measures the extent to which managers have used borrowed funds to finance investments:
A)debt-to-assets ratio
B)times-covered ratio
C)quick ratio
D)current ratio
E)days sales outstanding

Accepted Answer

The debt-to-assets ratio measures the proportion of a company's assets that are financed by debt, indicating the extent to which managers have used borrowed funds for investments.

Question 6

Managers typically use three primary measures to assess the output performance of their organization.Discuss these three types of measures and give one specific example of how a manager would use each of the measures that you select in a situation of your choosing.

Accepted Answer

The answer of Managers typically use three primary measures to...

Question 7

The most immediate form of behaviour control is:
A)MBO
B)direct supervision
C)rules
D)standard operating procedures
E)output control

Accepted Answer

Direct supervision is the most immediate form of behavior control because it involves a supervisor directly observing and monitoring an employee's behavior.

Question 8

Compare the ways that managers perform the functions of planning,organizing,leading and controlling when the managers are part of an innovative versus a conservative organizational culture.

Accepted Answer

The answer of Compare the ways that managers perform the...

Question 9

Management by objectives (MBO)is one way that managers can use goals or objectives to evaluate the performance of subordinates.Discuss the steps involved in using this technique in terms of a specific example of your choosing.

Accepted Answer

The answer of Management by objectives (MBO)is one way that...

Question 10

Control systems can help an organization gain a competitive advantage by increasing all of the following,except:
A)Efficiency
B)Quality
C)Responsiveness to customers
D)Innovation
E)Bureaucracy

Accepted Answer

Control systems are designed to enhance efficiency, quality, responsiveness, and innovation, but they do not aim to increase bureaucracy, which can hinder competitive advantage.

Question 11

A goal-setting process in which a manager and his or her subordinates negotiate specific goals and objectives for the subordinate to achieve and then periodically evaluates the extent to which the subordinate is achieving those goals is known as:
A)MBO
B)direct supervision
C)rules
D)standard operating procedures
E)output control

Accepted Answer

Management by Objectives (MBO) is a process where managers and subordinates set specific goals together and periodically review the progress towards achieving those goals.

Question 12

________ ratios measure how efficiently managers are using the organization's resources to generate profits.
A)Activity
B)Functional
C)Profit
D)Leverage
E)Liquidity

Accepted Answer

Profit ratios measure how efficiently managers are using the organization's resources to generate profits.

Question 13

Discuss the three characteristics of an effective control system in an organization and illustrate each of them with a specific example from an organization of your choosing.

Accepted Answer

The answer of Discuss the three characteristics of an effective...

Question 14

Which of the following terms is used to measure the efficiency of production by monitoring and evaluating the actual costs associated with producing goods and services?
A)Time standards
B)Variable costs
C)Utility standards
D)Output standards
E)Operating costs

Accepted Answer

Operating costs are used to measure the efficiency of production by evaluating the actual costs associated with producing goods and services.

Question 15

The top managers of an organization typically use a variety of financial indicators to assess the performance of their organization.Discuss the four major types of financial measures used by these managers and give one specific example of each of these measures in terms of how it would be computed.

Accepted Answer

The answer of The top managers of an organization typically...

Question 16

Which of the following terms refers to the quality of the actions which employees take in achieving organizational goals?
A)Time standards
B)Form standards
C)Utility standards
D)Output standards
E)Behavioural standards

Accepted Answer

Behavioural standards refer to the quality of actions employees take in achieving organizational goals, focusing on how tasks are performed.

Question 17

Which of the following terms refers to the quantity of the service or product the employee is to produce?
A)Time standards
B)Form standards
C)Utility standards
D)Output standards
E)Behavioural standards

Accepted Answer

Output standards refer to the quantity of the service or product that an employee is expected to produce.

Question 18

Output standards set:
A)the quantity of the service or product the employee is to produce
B)the quality expected in the delivery of goods or services
C)the standards that govern the number of hours worked
D)the standards that govern how long it is supposed to take to complete a task
E)the norms that govern how coworkers should interact with one another

Accepted Answer

The answer of Output standards set:
A)the quantity of the service...

Question 19

All organizations make use of bureaucratic control methods in their dealings with the employees of the organization.This type of control system can,however,create problems for the subordinates.Discuss these types of problems and explain what an organization's managers can do to reduce these types of problems within the organization.

Accepted Answer

The answer of All organizations make use of bureaucratic control...

Question 20

In general,the more _________ organizational activities are,the _______ it is for managers to measure outputs or behaviours.
A)complex; easier
B)routine; easier
C)routine; harder
D)complex; harder
E)planned; more difficult

Accepted Answer

Complex organizational activities make it harder for managers to measure outputs or behaviors due to the increased variability and unpredictability involved.

Quiz 11: Managing Control and Operations

The ________ is the most commonly used financial performance measure.

Define and discuss feedforward control,concurrent control,and feedback control.

Describe the problems associated with direct supervision as a behavioural control mechanism.

The control process can be broken down into four steps.Discuss these four steps,as they would apply to an important management situation of your choosing.

This ratio measures the extent to which managers have used borrowed funds to finance investments:

Managers typically use three primary measures to assess the output performance of their organization.Discuss these three types of measures and give one specific example of how a manager would use each of the measures that you select in a situation of your choosing.

The most immediate form of behaviour control is:

Compare the ways that managers perform the functions of planning,organizing,leading and controlling when the managers are part of an innovative versus a conservative organizational culture.

Management by objectives (MBO)is one way that managers can use goals or objectives to evaluate the performance of subordinates.Discuss the steps involved in using this technique in terms of a specific example of your choosing.

Control systems can help an organization gain a competitive advantage by increasing all of the following,except:

A goal-setting process in which a manager and his or her subordinates negotiate specific goals and objectives for the subordinate to achieve and then periodically evaluates the extent to which the subordinate is achieving those goals is known as:

________ ratios measure how efficiently managers are using the organization's resources to generate profits.

Discuss the three characteristics of an effective control system in an organization and illustrate each of them with a specific example from an organization of your choosing.

Which of the following terms is used to measure the efficiency of production by monitoring and evaluating the actual costs associated with producing goods and services?

The top managers of an organization typically use a variety of financial indicators to assess the performance of their organization.Discuss the four major types of financial measures used by these managers and give one specific example of each of these measures in terms of how it would be computed.

Which of the following terms refers to the quality of the actions which employees take in achieving organizational goals?

Which of the following terms refers to the quantity of the service or product the employee is to produce?

Output standards set:

In general,the more ___ organizational activities are,the _ it is for managers to measure outputs or behaviours.