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MGT WEEK 5 KNOWLEDGE CHECK MGT 521

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MGT 521 WEEK 5 1. The control process assumes that ________. A. employees require clear directions from management B. employees are underqualified and require training C. specific goals for performance were already created during the planning process D. employee monitoring costs are part and parcel of doing business 2. An example of control criteria that can be used in any situation is ________. A. number of calls taken per day B. employee satisfaction C. average time to process paperwork D. client requests completed per hour 3. In reviewing the result of the control process, managers could choose to avoid taking 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 control B. immediate corrective action C. basic corrective action D. concurrent control 4. Which of the following types of control prevents problems because it takes place prior to the actual activity? A. Feedforward control B. Concurrent control C. Feedback control D. Management control 5.Management by walking around is what type of control? A. Feedforward control B. Concurrent control C. Feedback control D. Reactive control 6. What type of control gives employees information on how well they performed, and therefore, can increase motivation? A. Feedforward control B. Concurrent control C. Feedback control D. Proactive control 7. The current ratio and acid test are two examples of what type of ratio? A. Activity B. Liquidity C. Leverage D. 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 ratios B. Leverage ratios C. Profitability D. Activity ratios 9. If a firm wants to measure items related to sales and turnover, it should use what type of ratio? A. Liquidity B. Leverage C. Profitability D. 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 method B. Economic value method C. Balanced scorecard approach D. 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. Financial B. Customer C. Internal processes D. 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 satisfaction B. Customer satisfaction C. Quarterly profits 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 satisfaction B. Customer satisfaction C. Quarterly profits 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. Customer B. Internal processes C. People/innovation/growth assets D. Financial 14. ________ is a method through which organizations compare themselves to other firms to improve their processes and products. A. Factor analysis B. Total quality management C. Market positioning D. Benchmarking 15. Firms can benchmark their performance against competitors, but they can also benchmark against themselves. This is known as _____. A. self-analysis B. planning C. intra-organizational benchmarking D. internal benchmarking 16. Amy’s Waffle Hut is not performing well in inventory turnover (products

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