BUS 305 FINAL EXAM VERIFIED STUDY GUIDE
strategic control - Answers - is concerned with tracking the strategy as it is being
implemented, detecting any problem areas or potential problem areas suggesting that
the strategy is incorrect, and making any necessary adjustments.
Operational control - Answers - operational controls are imposed, they function within
the framework established by the strategy.
feedforward control - Answers - it addresses what can be done ahead of time to help a
plan succeed.
concurrent control - Answers - Such controls are not necessarily proactive, but they can
prevent problems from becoming worse.
Feedback controls - Answers - involve gathering information about a completed activity,
evaluating that information, and taking steps to improve similar activities in the future.
Outcome controls - Answers - are generally preferable when performance can be
measured through tangible performance metrics.
Behavioral controls - Answers - involve the direct evaluation of managerial and
employee actions, not of the results of managerial decisions.
Budgeting - Answers - generally refers to a listing of all planned expenses and
revenues.
The Balance Sheet - Answers - The balance sheet is a snapshot of the business's
financial position at a certain point in time.
The Income Profit and Loss Statement (P&L) - Answers - The profit and loss statement
(P&L) shows the relation of income and expenses for a specific time interval.
Audits - Answers - Audits are conducted both internally by members of the company's
accounting department and by outside accounting firms hired to conduct an external
audit.
Value Stream - Answers - The value stream is the set of activities that the business is
performing to bring a finished product to a customer.
Reinforcement Theory - Answers - behavior is a function of its consequences. Imagine
that even though no one asked you to, you stayed late and drafted a report. When the
manager found out, she was ecstatic and took you out to lunch and thanked you
genuinely.
, continuous schedule - Answers - if reinforcers follow all instances of positive
behavior.An example of a continuous schedule would be giving an employee a sales
commission every time he or she makes a sale.
Fixed-ratio schedules - Answers - involve providing a reward after a specified period of
time, such as giving a sales bonus once a month regardless of how many sales have
been made.
Variable ratio - Answers - involves a random pattern, such as when a slot machine pays
out at a casino to ensure patrons believe there is a chance the machine might payout
with any given play.
Positive reinforcement - Answers - a method of increasing the desired behavior.
Positive reinforcement involves making sure that behavior is met with positive
consequences
Negative reinforcement - Answers - is also used to increase the desired behavior.
Negative reinforcement involves removal of unpleasant outcomes once desired
behavior is demonstrated.
Extinction - Answers - Extinction is the removal of rewards following negative behavior.
Punishment - Answers - Punishment involves presenting negative consequences
following unwanted behaviors.
Equity Theory - Answers - According to this theory, individuals are motivated by a sense
of fairness in their interactions. Moreover, our sense of fairness is a result of the social
comparisons we make.
Expectancy Theory - Answers - Expectancy theory argues that individual motivation to
put forth more or less effort is determined by a rational calculation.
Hygiene factors - Answers - included company policies, supervision, working conditions,
salary, safety, and security on the job. For example, if you are working in an unpleasant
work environment where your office is too hot in the summer and too cold in the winter,
or if you are being harassed and mistreated, you would likely be miserable.
motivators - Answers - are factors that are intrinsic to the job, such as achievement,
recognition, interesting work, increased responsibilities, advancement, and growth
opportunities.
SMART Goals - Answers - goal is a goal that is specific, measurable, aggressive,
realistic, and time-bound.
strategic control - Answers - is concerned with tracking the strategy as it is being
implemented, detecting any problem areas or potential problem areas suggesting that
the strategy is incorrect, and making any necessary adjustments.
Operational control - Answers - operational controls are imposed, they function within
the framework established by the strategy.
feedforward control - Answers - it addresses what can be done ahead of time to help a
plan succeed.
concurrent control - Answers - Such controls are not necessarily proactive, but they can
prevent problems from becoming worse.
Feedback controls - Answers - involve gathering information about a completed activity,
evaluating that information, and taking steps to improve similar activities in the future.
Outcome controls - Answers - are generally preferable when performance can be
measured through tangible performance metrics.
Behavioral controls - Answers - involve the direct evaluation of managerial and
employee actions, not of the results of managerial decisions.
Budgeting - Answers - generally refers to a listing of all planned expenses and
revenues.
The Balance Sheet - Answers - The balance sheet is a snapshot of the business's
financial position at a certain point in time.
The Income Profit and Loss Statement (P&L) - Answers - The profit and loss statement
(P&L) shows the relation of income and expenses for a specific time interval.
Audits - Answers - Audits are conducted both internally by members of the company's
accounting department and by outside accounting firms hired to conduct an external
audit.
Value Stream - Answers - The value stream is the set of activities that the business is
performing to bring a finished product to a customer.
Reinforcement Theory - Answers - behavior is a function of its consequences. Imagine
that even though no one asked you to, you stayed late and drafted a report. When the
manager found out, she was ecstatic and took you out to lunch and thanked you
genuinely.
, continuous schedule - Answers - if reinforcers follow all instances of positive
behavior.An example of a continuous schedule would be giving an employee a sales
commission every time he or she makes a sale.
Fixed-ratio schedules - Answers - involve providing a reward after a specified period of
time, such as giving a sales bonus once a month regardless of how many sales have
been made.
Variable ratio - Answers - involves a random pattern, such as when a slot machine pays
out at a casino to ensure patrons believe there is a chance the machine might payout
with any given play.
Positive reinforcement - Answers - a method of increasing the desired behavior.
Positive reinforcement involves making sure that behavior is met with positive
consequences
Negative reinforcement - Answers - is also used to increase the desired behavior.
Negative reinforcement involves removal of unpleasant outcomes once desired
behavior is demonstrated.
Extinction - Answers - Extinction is the removal of rewards following negative behavior.
Punishment - Answers - Punishment involves presenting negative consequences
following unwanted behaviors.
Equity Theory - Answers - According to this theory, individuals are motivated by a sense
of fairness in their interactions. Moreover, our sense of fairness is a result of the social
comparisons we make.
Expectancy Theory - Answers - Expectancy theory argues that individual motivation to
put forth more or less effort is determined by a rational calculation.
Hygiene factors - Answers - included company policies, supervision, working conditions,
salary, safety, and security on the job. For example, if you are working in an unpleasant
work environment where your office is too hot in the summer and too cold in the winter,
or if you are being harassed and mistreated, you would likely be miserable.
motivators - Answers - are factors that are intrinsic to the job, such as achievement,
recognition, interesting work, increased responsibilities, advancement, and growth
opportunities.
SMART Goals - Answers - goal is a goal that is specific, measurable, aggressive,
realistic, and time-bound.
