Business Management exam
questions and answers graded A+
Controlling goes hand in hand with which other function of management? - ANS✅✅Controlling
goes hand in hand with the management function of planning. When managers plan, they determine
strategies and set goals. When managers control, they check in to see how the organization is doing
on accomplishing those goals and fulfilling those strategies.
What are the five most common aspects of a business that managers control? - ANS✅✅The most
common aspects of a business that managers control are employees, finances, marketing/customer
satisfaction, technology, and products/production.
Explain the difference between feed-forward, concurrent, and feedback controls. - ANS✅✅Feed-
forward controls are those that attempt to monitor and control performance before it occurs.
Concurrent controls are those that monitor and control performance while it is occurring. Feedback
controls are those that monitor and control performance after it has already occurred.
What are some of the impacts of effective managerial control on an organization? -
ANS✅✅Managerial control is important because it keeps organizations on track. It makes it
possible for businesses to achieve their goals by guiding progress and evaluating outcomes. When
managers control important aspects of a business, the organization enjoys improved efficiency and
reduced errors. Controls also inform managers' decision-making by providing the evidence and facts
needed to support one decision or another. Finally, managerial control allows everyone in an
organization to improve performance and achieve at a higher level.
List the four steps in the managerial control process. - ANS✅✅Determine standards of excellence,
measure performance, compare performance with standards, and take corrective action.
Examples of a standard of excellence. - ANS✅✅sales quotas (number or overall value of sales),
quality standards (number of defects), quantity standards (number of products produced), time
standards (length of time needed to complete a task), and cost standards (how much a project or
product costs).
Briefly describe each of the characteristics of effective controls. - ANS✅✅Use accurate information
to compare to, inaccurate info will lead to unnecessary actions. Be doable for all workers. work in
conjunction with what is already in place so as not to confused or bombard employees. Be of
minimal cost for business. Be easy to use and understand to advance evaluations and corrective
action. Work in favor of the needs of the business
, What is productivity? - ANS✅✅Productivity is the amount and value of goods and services
(outputs) produced from set amounts of resources (inputs). It measures how efficiently the inputs
are converted into outputs in a set time period. Productivity equals outputs divided by inputs.
Explain two ways to measure Worker productivity and Business productivity - ANS✅✅a. monetary
value or the amount of work done in a set time period
b. # of products divided by # steps involved in the process or total sales divided by # of sales people.
Why is productivity measured? - ANS✅✅to see if goals are being met, to show trends in business
conditions, to manage resources and to plan for productivity improvement.
Explain why productivity is important for:
a. Businesses
b. Workers
c. Consumers
d. Society
e. The economy - ANS✅✅a. to develop a competitive edge
b. to get job security and/or a raise
c. lower prices
d. increase national income
e. to prevent unemployment and inflation.
What are some factors that can hinder business productivity? - ANS✅✅>Lack of standardization
>Lack of tools/equipment
>Too many different products
>Poor product/service design
>Lack of communication
>Poor planning
>Lack of worker knowledge and education
>Personality conflicts
>Poor or unsafe working conditions
questions and answers graded A+
Controlling goes hand in hand with which other function of management? - ANS✅✅Controlling
goes hand in hand with the management function of planning. When managers plan, they determine
strategies and set goals. When managers control, they check in to see how the organization is doing
on accomplishing those goals and fulfilling those strategies.
What are the five most common aspects of a business that managers control? - ANS✅✅The most
common aspects of a business that managers control are employees, finances, marketing/customer
satisfaction, technology, and products/production.
Explain the difference between feed-forward, concurrent, and feedback controls. - ANS✅✅Feed-
forward controls are those that attempt to monitor and control performance before it occurs.
Concurrent controls are those that monitor and control performance while it is occurring. Feedback
controls are those that monitor and control performance after it has already occurred.
What are some of the impacts of effective managerial control on an organization? -
ANS✅✅Managerial control is important because it keeps organizations on track. It makes it
possible for businesses to achieve their goals by guiding progress and evaluating outcomes. When
managers control important aspects of a business, the organization enjoys improved efficiency and
reduced errors. Controls also inform managers' decision-making by providing the evidence and facts
needed to support one decision or another. Finally, managerial control allows everyone in an
organization to improve performance and achieve at a higher level.
List the four steps in the managerial control process. - ANS✅✅Determine standards of excellence,
measure performance, compare performance with standards, and take corrective action.
Examples of a standard of excellence. - ANS✅✅sales quotas (number or overall value of sales),
quality standards (number of defects), quantity standards (number of products produced), time
standards (length of time needed to complete a task), and cost standards (how much a project or
product costs).
Briefly describe each of the characteristics of effective controls. - ANS✅✅Use accurate information
to compare to, inaccurate info will lead to unnecessary actions. Be doable for all workers. work in
conjunction with what is already in place so as not to confused or bombard employees. Be of
minimal cost for business. Be easy to use and understand to advance evaluations and corrective
action. Work in favor of the needs of the business
, What is productivity? - ANS✅✅Productivity is the amount and value of goods and services
(outputs) produced from set amounts of resources (inputs). It measures how efficiently the inputs
are converted into outputs in a set time period. Productivity equals outputs divided by inputs.
Explain two ways to measure Worker productivity and Business productivity - ANS✅✅a. monetary
value or the amount of work done in a set time period
b. # of products divided by # steps involved in the process or total sales divided by # of sales people.
Why is productivity measured? - ANS✅✅to see if goals are being met, to show trends in business
conditions, to manage resources and to plan for productivity improvement.
Explain why productivity is important for:
a. Businesses
b. Workers
c. Consumers
d. Society
e. The economy - ANS✅✅a. to develop a competitive edge
b. to get job security and/or a raise
c. lower prices
d. increase national income
e. to prevent unemployment and inflation.
What are some factors that can hinder business productivity? - ANS✅✅>Lack of standardization
>Lack of tools/equipment
>Too many different products
>Poor product/service design
>Lack of communication
>Poor planning
>Lack of worker knowledge and education
>Personality conflicts
>Poor or unsafe working conditions
