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MGT/521 Week 5 Knowledge Check




Question;1. The control process assumes that;A. employees require clear directions from managementB. employees are underqualified and require trainingC. specific goals for performance were already created;during the planning processD. employee monitoring costs are part and parcel of;doing business2. An example of control criteria;that can be used in any situation is ________.;A. number of calls taken per dayB. employee satisfactionC. average time to process paperworkD. client requests completed per houCorrect;3. In reviewing the result of the;control process, managers could choose to avoid taking action when ________.;A. an employee fails to attain the standard because of;internal problemsB. the variance between actual performance and the;standard is acceptableC. performance standards are acceptable, though the;employees have not attained itD. the variance observed from the expected performance;is caused due to unrealistic standards4. Which of the following types of;control prevents problems because it takes place prior to the actual activity?;A. Feedforward controlB. Concurrent controlC. Feedback controlD. Management control5. Management by walking around is;what type of control?;A. Feedforward controlB. Concurrent controlC. Feedback controlD. Reactive control;6. What type of control gives;employees information on how well they performed, and therefore, can increase;motivation?;A. Feedforward controlB. Concurrent controlC. Feedback controlD. Proactive control;7. The current ratio and acid test;are two examples of what type of ratio?;A. ActivityB. LiquidityC. LeverageD. Profitability;8. Which of the following ratios;measures an organization?s ability to meet financial obligations (debt) and;allow someone to understand the company?s use of different methods of financing;to pay interest?;A. Liquidity ratiosB. Leverage ratiosC. ProfitabilityD. Activity ratios;9. If a firm wants to measure items;related to sales and turnover, it should use what type of ratio?;A. LiquidityB. LeverageC. ProfitabilityD. Activity;10. Which of the following is a;performance measurement tool that looks at four areas that can help a company;succeed?;A. Market value methodB. Economic value methodC. Balanced scorecard approachD. Information control approach;11. Suzy?s Packing Supplies is an;organization that prides itself on keeping its employees happy. In fact, most;of Suzy?s performance measures are based around the firm?s workers. If Suzy;chooses to measure the organization?s performance using the balanced scorecard;tool, which one of the four factors will she focus on the most?;A. FinancialB. CustomerC. Internal processesD. People/innovation/growth strategies;12. Which of the following options;listed would be an example of a measurement in the internal processes area of a;balanced scorecard?;A. Employee satisfactionB. Customer satisfactionC. Quarterly profitsD. Duplicate activities across functions;13. Which of the four areas of a;balanced scorecard can help a firm best answer the question, ?how do we look to;shareholders??;A. CustomerB. Internal processesC. People/innovation/growth assetsD. Financial;14. ________ is a method through;which organizations compare themselves to other firms to improve their;processes and products.;A. Factor analysisB. Total quality managementC. Market positioningD. Benchmarking;15. Firms can benchmark their;performance against competitors, but they can also benchmark against;themselves. This is known as _____.;A. self-analysisB. planningC. intra-organizational benchmarkingD. internal benchmarking;16. Amy?s Waffle Hut is not;performing well in inventory turnover (products are sitting unused for too;long, and some are spoiling). To correct this, Amy walks across the street to;speak to Sue, owner of Sue?s Cinnamon Rolls, to see how she handles her inventory.;Amy is engaged in what process?;A. Competitor sabotageB. NetworkingC. Competitor analysisD. Benchmarking17. If a manager rationalizes that;he does not have time to investigate the source of a problem and instead;resorts to ?putting out fires,? the manager is missing the use of ________.;A. bureaucratic controlB. immediate corrective actionC. basic corrective actionD. concurrent control


Paper#52062 | Written in 18-Jul-2015

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