Business Management II - Objective 1.01 Review

Which presents serious security risks that managers must monitor and control?

• marketing

• employees

• technology

• production of goods

Introducing a product to a limited group of customers to see what its acceptance will be is what type of control?

• marketing

• technology

• human resources

• product/production

What are the three primary characteristics of an effective control system in a business?

• relevant, intangible, and rigid

• rigid, economical, and reactionary

• suitable, understandable, and timely

• responsive, economical, and transferable

Employee self-reporting, automatic data collection and analysis, and meetings are all methods that managers can use to:

• take corrective action.

• set standards of excellence.

• compare performance with standards.

• measure the organization’s performance.

The primary way that managers control employees is by:

• interacting with customers to see how employees are doing.

• controlling the level of work-life balance that employees enjoy.

• monitoring how the company’s public relations team is performing.

• making sure employees are doing what they are supposed to be doing.

When managers control their businesses’ finances, their primary goal is to ensure that:

• money is being set aside for community outreach programs.

• the organization is spending more money than it is taking in.

• the company is using its funds wisely, while earning as much as it can.

• employees are taking full advantage of the company’s financial savings benefits.