Business Management Quiz

What is the Controlling function?

• The process of setting goals and determining the best way to achieve them.

• The process of organizing resources and coordinating activities to achieve goals.

• The process of planning and implementing strategies to achieve organizational objectives.

• The process of monitoring and evaluating performance to ensure that goals are being met.

Why do we need the planning and organizing function complete first on our wheel to help the controlling?

• Because planning and organizing provide the necessary resources for controlling.

• Because planning and organizing ensure that goals are being met and performance is evaluated.

• Because planning and organizing help in monitoring and evaluating performance.

• Because planning and organizing help in setting goals and determining the best way to achieve them.

What are the 3 steps in controlling? Remember our Air Jordan shoe example.

• Coordinating activities, ensuring quality standards, and managing costs.

• Planning strategies, implementing them, and achieving organizational objectives.

• Setting goals, organizing resources, and evaluating performance.

• Monitoring performance, comparing it to standards, and taking corrective action.

What are 3 options controlling managers can take when taking corrective action?

• Provide training, adjust resources, or change the goals.

• Terminate employees, provide incentives, or change the goals.

• Change the standards, provide training, or adjust resources.

• Ignore the performance issue, change the standards, or terminate employees.

Should controlling activities be completed before the problem is too big or expensive to correct?

• No, controlling activities should only be done when the problem is already big or expensive.

• Controlling activities are not necessary if proper planning and organizing are done.

• It depends on the nature of the problem and the resources available.

• Yes, controlling activities should be proactive and address issues before they become significant.

What are 3 achievable standards in step 1 of the controlling process?

• Cost, profit, and variance standards.

• Quantity, quality, and time standards.

• Performance, evaluation, and corrective action standards.

• Planning, organizing, and coordinating standards.

What are the 3 Standards that are the means for judging success and applying controls?

• Quantity, quality, and time standards.

• Cost, profit, and variance standards.

• Planning, organizing, and coordinating standards.

• Performance, evaluation, and corrective action standards.

What are Quantity standards? Remember sales reps and their quotas.

• Standards that measure the level of customer satisfaction.

• Standards that measure the number of units produced or sold.

• Standards that measure the cost of production or operation.

• Standards that measure the time taken to complete a task.

What are Quality standards? Remember car batteries.

• Standards that measure the number of units produced or sold.

• Standards that measure the level of customer satisfaction.

• Standards that measure the cost of production or operation.

• Standards that measure the time taken to complete a task.

What are Time standards? Remember the bakery breakfast rush.

• Standards that measure the cost of production or operation.

• Standards that measure the number of units produced or sold.

• Standards that measure the level of customer satisfaction.

• Standards that measure the time taken to complete a task.