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ITM Exam 2 Questions & Answers 2024/2025

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ITM Exam 2 Questions & Answers 2024/2025 What is control? - ANSWERSMonitoring performance, comparing it with goals, fixing as needed. Control is the ____ management function - ANSWERSFourth What is the purpose of control? - ANSWERSMaking sure performance meets objectives Why is control needed? - ANSWERSIt helps an organization adapt, discover, reduce costs, increase productivity, or add value, detect opportunities, feedback, decentralize decision-making, and facilitate teamwork. What are the four steps of the control process? - ANSWERSStandards, measure performance, compare to standards, feedback (keep what's good, fix what's not working) What is a control standard? - ANSWERSDesired performance level of given goal. Best measured when quantified (M in SMART goals) What are sources of performance data? - ANSWERSEmployee achieving objectives, peer and managerial observations, customer feedback, output from production What are control charts? - ANSWERSA visual statistical tool for quality control purposes What is management by exception? - ANSWERSManagers should be informed of a situation only if there's a big standard deviation What are the three possible courses of action for feedback? - ANSWERSNo change, recognize and reinforce the positive, correct the negative.

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