MGT 521 Week 5 Knowledge Check

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MGT 521 Entire Course Link
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MGT 521
Week 5 Knowledge Check


The material presented below is not meant
to be a comprehensive list of all you need to know in the content area. Rather
it is a starting point for building your knowledge and skills. Additional study
materials are recommended in each area below to help you master the material.

Personalized Study Guide Results: 

Score: 17 / 17





Concepts


Mastery


Questions





Control Process


100%


·        
1
·        
2
·        
3
·        
17




Feedforward/Concurrent/Feedback Controls


100%


·        
4
·        
5
·        
6




Financial Controls


100%


·        
7
·        
8
·        
9




Balanced Scorecard


100%


·        
10
·        
11
·        
12
·        
13




Benchmarking


100%


·        
14
·        
15
·        
16




Concept: Control
Process





Mastery :


100%


Questions :


·        
1
·        
2
·        
3
·        
17




Materials on the
concept:


·  Introduction to
Controlling

·  The Control
Process

·  Step 1.
Measuring Actual Performance

·  Managerial
Decisions in Controlling

·  Correct Actual
Performance



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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



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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



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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 problems

·        
B.

the variance between actual performance
and the standard is acceptable

·        
C.

performance standards are acceptable,
though the employees have not attained it

·        
D.

the variance observed from the expected
performance is caused due to unrealistic standards



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17.

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



窗体底端



Concept: Feedforward/Concurrent/Feedback
Controls





Mastery :


100%


Questions :


·        
4
·        
5
·        
6




Materials on the
concept:


·  Feedforward/Concurrent/Feedback
Controls

·  Feedforward
Control

·  Introduction to
Controlling

·  Concurrent
Control

·  Feedback Control



窗体顶端



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



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5.

Management by walking around is what type
of control?

·        
A.

Feedforward control

·        
B.

Concurrent control

·        
C.

Feedback control

·        
D.

Reactive control



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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



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Concept: Financial
Controls





Mastery :


100%


Questions :


·        
7
·        
8
·        
9




Materials on the
concept:


·  Financial
Controls

·  Introduction to
Controlling

·  Tools for
Measuring Organizational Performance



窗体顶端



7.

The current ratio and acid test are two
examples of what type of ratio?

·        
A.

Activity

·        
B.

Liquidity

·        
C.

Leverage

·        
D.

Profitability



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·   



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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



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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



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Concept: Balanced
Scorecard





Mastery :


100%


Questions :


·        
10
·        
11
·        
12
·        
13




Materials on the
concept:


·  Introduction to
Controlling

·  Tools for
Measuring Organizational Performance

·  Balanced
Scorecard



窗体顶端



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



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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



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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

·        
D.

Duplicate activities across functions



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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



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Concept: Benchmarking




Mastery :


100%


Questions :


·        
14
·        
15
·        
16




Materials on the
concept:


·  Introduction to
Controlling

·  Tools for
Measuring Organizational Performance

·  Benchmarking of
Best Practices



窗体顶端



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



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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



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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 sabotage

·        
B.

Networking

·        
C.

Competitor analysis

·        
D.

Benchmarking
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