Reference no: EM132383046
1) You currently work in the plumbing department at Lowes. A customer is looking for piping. You generally do very well when looking at a sample pipe and being able to tell what pipe the customer is looking for without them having to know exactly what type of pipe it is. Your first step is to visually ensure you have all piping in stock each morning. This type of control is:
a. Proactive Control
b. Feedback
c. Concurrent control
2) Controls can be categorized according to the time in which a process or activity occurs. The controls related to time include feedback, proactive, and ___________ controls.
a. Radical
b. Random
c. Concurrent
3) David's Healthcare of Austin, TX has ranked in the American College of Cardiology's top 10 percent of hospitals since 2010 for its "door-to-balloon" time in treating the most severe form of heart attack, in which the coronary artery is completely blocked by a clot. The "door-to-balloon time" refers to the amount of time between when a heart attack patient arrives at the hospital and when the patient receives intervention, such as a balloon angioplasty. This is an example of what organizational control benefit?
a. Improved quality control
b. Improved Morale
c. Increased Cost
4) The cost of quality has two components: the cost of good quality and the cost of poor quality. The costs for good quality are the costs of monitoring and preventing defects. The costs of poor quality are often hidden, hitting customers and departments not immediately related to production. Some experts argue that:
a. Quality is never costless because monitoring and prevention have costs
b. Quality can be costless, since the hidden costs of poor quality often outweigh the cost of preventing defects
c. Poor quality can be accepted
5) The proper performance of the management control function is critical to the success of an organization. The steps in the basic control process can be followed for almost any application, such as improving product quality, reducing waste, and increasing sales. The basic control process includes the following steps except:
a. Measuring actual performance
b. Analyzing deviations
c. Measuring benchmark performance
6) If an organization tracks its strategy implementation, looks for problem areas, evaluates whether the problem areas indicate any weakness in the strategy, and makes any necessary changes. It is using:
a. Behavioral Controls
b. Operational Controls
c. Strategic Controls
7) The Balanced Scorecard is considered one of the most important control tools in use. The Scorecard is a system used by organizations to do the following except
a. Measure performance
b. Communicate goals
c. Prioritize resources
8) If an organization tracks its strategy implementation, looks for problem areas, evaluates whether the problem areas indicate any weakness in the strategy, and makes any necessary changes, then it is using:
a. Organizational controls
b. Strategic controls
c. Behavioral controls
9) Robin's financial advisor explained that her stock portfolio did very well last year. It grew by 6 percent, better than bonds that earned only 2 percent. During the same period, the S&P 500 grew 14 percent. The S&P 500 is an index of 500 large companies having common stock listed on the NYSE or NASDAQ. The financial advisor is using the wrong
a. Performance Standard
b. Summarized Performance
c. Measurement of Actual Performance
10) The Flower Shop, an online flower company, wanted to take a stand against Uber's mistreatment of employees. The CEO, Steven Dyme decided to stop using Uber's service and made an announcement that Lyft should be used instead of Uber. Dyme was distracted by a new system change, and when he checked expenses at year-end, he found $12,000 charged to Uber after his announcement. What advice would you give him?
a. Dyme should notify accounting and all employees that Uber expenses will not be reimbursed
b. He should not micro manage his team
c. Do nothing
11) To follow a budget requires discipline. When an expense or desirable pops up, managers must prioritize purchases to stay within budget. In this sense, budgets help control ____________ and ensure that goals are reached by allocating money to the places where it is needed.
a. Scope Creep
b. Runaway costs
c. Spending