MGT 330 CHAPTER 19 EXAM QUESTIONS AND CORRECT ANSWERS LATEST UPDATE 2024 (100% PASS)

MGT 330 CHAPTER 19 EXAM QUESTIONS AND CORRECT ANSWERS LATEST UPDATE 2024 (100% PASS) Which of the following is the systematic process through which managers regulate organizational activities? - Answers Organizational control Ophelia, the new CEO at Odyssey Inc., plans to implement a highly effective systematic process of regulating organizational activities to make them consistent with the expectations that are established by managers within the company. This is referred to as _____ control. - Answers organizational For control, this type of measure is an important part of achieving higher performance. - Answers Statistical According to MANAGER'S SHOPTALK in Chapter 19, the interest in self-awareness is part of a growing discipline called _____. - Answers auto-analytics Zachary, a manager at ExecuComp, receives quarterly reports, which track his department's production statistics. However, these reports lack key information regarding reject rates. Which of the following components of the control model need improvement? - Answers Measuring and actual performance Which of the following is a control system that measures performance in terms of after-tax profits minus the cost of capital invested in tangible assets? - Answers Economic value-added system All of the following are key steps of setting up feedback control systems EXCEPT: - Answers getting employee opinions. Which of the following is a comprehensive management control system that balances traditional financial measures with operational measures relating to a company's critical success factors? - Answers Balanced scorecard _____ indicators focus on production and operating statistics. - Answers Business process All of the following are major perspectives of the Balanced Scorecard EXCEPT _____. - Answers competitors Mistletoe Corporation has a detailed set of organizational goals and management information system that delivers timely and accurate information. Mistletoe still has control problems, however, because its managers refuse to act on the information they receive. Mistletoe's control process has flaws in which of the following areas? - Answers Its ability to take corrective action when necessary Your department has absenteeism standards, a way to measure absenteeism, and, based on your investigation, you have concluded that your department has an excessive absenteeism rate. What should your next step be? - Answers All of these would be good examples of taking corrective action. Kyle's work group consistently exceeds the goals the members set for themselves some months ago. In an attempt to better motivate the group, Kyle thought it would be a good idea to set new goals. This is an example of Kyle exercising control by: - Answers taking corrective action. In the process of implementing the balanced scorecard approach at his company, operations manager Seth Howard wonders whether internal activities and processes add value for customers and shareholders. This involves which dimension of the balanced scorecard? - Answers Internal business processes Focusing on how well resources and human capital are being managed for the company's future refers to which component of the balanced scorecard? - Answers Internal business processes Use of the balanced scorecard can hinder or decrease organizational performance if it is implemented using which type of orientation? - Answers Performance measurement orientation All well-designed control systems involve the use of _____ to determine whether performance meets established standards. - Answers feedback What is the first step in the feedback control system? - Answers Establishing standards of performance CyberChasers Corporation sends a post-purchase questionnaire to all consumers who buy their products. They are interested in gathering data on product quality, customer service orientation, and customer satisfaction. This is an example of a: - Answers feedback control. Kendra is a manager at George's Goodies. On a regular basis Kendra and her subordinates set individual and organizational goals. This process is similar to which component of the control model? - Answers Establishing performance standards According to the control model, after establishing standards of performance the manager should: - Answers measure actual performance. Tiffany recently discovered that the reject rate for her department has exceeded the standard for performance in this area. What should Tiffany do to exercise effective control? - Answers She should investigate and discover the cause of the problem _____ is any organizational department or unit under the supervision of a single person who is responsible for its activity. - Answers Responsibility center _____ control is the process of setting targets for an organizations expenditures. - Answers Budgetary Which of the following includes anticipated and actual expenses for a responsibility center? - Answers Expense budget Which of these is a financial budget that estimates cash flows on a daily basis or weekly basis to ensure that the company can meet its obligations? - Answers Cash budget Madison has been assigned to work on the development of a budget that plans future investments in major assets such as buildings and heavy machinery. Madison is working on a(n) _____ budget. - Answers capital The _____ plans future investments in major assets to be depreciated over several years. - Answers capital budget Ron meets with his company's accountant to discuss the budget of anticipated and actual expenses for each segment of the organization. This involves review of which type of budget? - Answers Expense budget Stella, a systems manager for a large technology company, would like to get an understanding of her company's financial position with respect to assets and liabilities at the end of the fiscal year. Which financial statement should she refer to? - Answers Balance sheet Which financial control system measures the stock market's estimate of the value of a company's past and projected capital investment projects? - Answers Market value-added Brad is a department manager at Home Theater, Inc. His sole role in the budget process is to implement the budget that is developed for him. This is an example of: - Answers top-down budgeting. Pauline is an area manager at Ironman Gym. She anticipates her area's needs and formulates a proposed budget every quarter. She then sends this proposal to her manager. This is an example of: - Answers bottom-up budgeting. An advantage of the bottom-up budgeting process is: - Answers lower managers are more involved. The firm's financial position with respect to assets and liabilities at a specific point in time is shown by its: - Answers balance sheet. _____ provide the basic information used for financial control of an organization. - Answers Income statements _____ refer(s) to the difference between assets and liabilities and is the company's net worth in stock and retained earnings. - Answers Owners' equity The _____ ratio refers to the ability of the organization to meet its current debt obligation. - Answers liquidity