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Exam 14: Managerial Control

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Question 61

Multiple Choice

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________ control focuses on the use of information about results to correct deviations from the acceptable standard after they arise.

A) Reactionary
B) Concurrent
C) Corrective
D) Outback
E) Feedback

F) A) and C)
G) C) and D)

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Question 62

Multiple Choice

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________ lay(s) out a framework for the future and provide(s) a blueprint for control.

A) Planning
B) Control systems
C) Creativity
D) Enhancing quality
E) Communication strategies

F) D) and E)
G) B) and C)

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Question 63

Multiple Choice

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"Are you telling me that we have to write off over $1 million in revenue because our eastern division manager did not accrue it properly?" asked the CEO. His CFO replied, "Yes. I know that we are a start-up, still working on developing policies, rules, and procedures, but, in this case, the division manager had no processes in place to monitor the project's progress." The CEO concluded, "The ________ has caused irreparable damage to our firm."

________ control includes items such as budgets, statistical reports, and performance appraisals to regulate behavior and results.

Angered, Chet, an outside salesman for ABC Products, told his supervisor, "I received a memo from our accounting department that, effective immediately, all employees and their managers will receive a monthly report measuring each employee's days-in-office statistics. And over the next 12 months, the days-in-office metric is expected to increase by 50 percent to reduce our firm's travel costs. How can I do outside sales, when I am expected to spend more days inside the office?" Chet is expressing a view that his firm is committing the "deadly sin" of ________ by measuring days-in-office for outside sales people.

Empowering employees to make decisions implies giving up control.

"The new phones are really high-tech, but they are also very complicated to use," said Belinda, administrative manager for Wellman Enterprises. "I will schedule several training workshops that the staff can attend, and I will teach them how to use the phones." The bureaucratic control that Belinda will use is ________ control.

Marv thought, "I'm not surprised that the corporate office canceled our funding. Costs had spiraled upward, and unanticipated technical problems had cropped up. We just didn't keep our eye on the ball, even though we had a great plan and sound strategies. Fundamentally, we lacked an effective means of control to ensure that

Budgeting information is

________ control is the use of rules, regulations, and authority to guide performance.

Write a note on the two basic types of controls that are feasible in a computer-controlled production technology.

Allowing people to initiate their own corrective action encourages self-control and reduces the need for outside supervision.

A ________ budget is used for areas of the organization that incur expenses but produce no revenue.

Controlling by profit and loss is most commonly used for the entire enterprise and, in the case of a diversified corporation, its divisions.

"I think that we can manufacture 12,000 units next year," said Hector, factory manager for XY Enterprises. "But I will need to buy significantly more tons of raw material and more replacement parts." Jill, Operations Division Manager, replied, "Hector, I'm glad to hear that. You will need to include all of these physical units in your ________ budget for next year."

"Once per year, our CEO stations himself for an entire day in the internal stairwell, counseling employees to use the handrail if they are failing to do so," said Huck. "Boy, that really makes an impression. He 'walks the talk' regarding our corporate value of safety." The bureaucratic control that the CEO is using is known as ________ control.

Bureaucratic control

A(n) ________ is the level of expected performance for a given goal: a target that establishes a desired performance level, motivates performance, and serves as a benchmark against which actual performance is assessed.

Pete noticed a pattern at the annual budgeting session of his company. Mid-level managers were asking for unrealistically high budgets while top management was attempting to limit budgets under last year's actual expenditures. Management used ________ strategies.

Required information for preparing a ________ budget includes types and capabilities of machines and availability of materials.