ch 18 dsm

________ is the third step in the control process.

Taking managerial action

________ is a three-step process of measuring actual performance, comparing actual performance against a standard, and taking managerial actions to correct deviations or inadequate standards.

The control process

________ means the fewer assets used to achieve a given level of sales, the more effectively management uses the organization's total assets.

Total asset turnover

________ is the standard of excellence against which to measure and compare.

A benchmark

________ is the process of monitoring, comparing, and correcting work performance.

Controlling

Which of the following describes immediate corrective action?

Corrects problems at once to get performance back on track

________ tests the organization's ability to meet short-term obligations.

Current ratio

________ means the higher the ratio, the more leveraged the organization.

Debt to assets

________ is taken by a manager to enforce the organization's work standards and regulations.

Disciplinary action

________ takes place after a work activity is done.

Feedback control

________ takes place before a work activity is done.

Feedforward control

Which of the following defines basic corrective action?

Looks at how and why performance deviated before correcting the source of deviation

________ describes when a manager is out in the work area interacting directly with employees.

Management by walking around

________ is the accumulated results of all the organization's work activities.

Organizational performance

A balanced scorecard is ________.

a performance measurement tool that looks at more than just the financial perspective

The first step in the control process is ________.

measuring actual performance

Comparing actual performance against the standard is the ________ step in the control process.

second

Concurrent control ________.

takes place while a work activity is in progress

Performance is ________.

the end result of an activity

Benchmarking is ________.

the search for the best practices among competitors or noncompetitors that lead to their superior performance

Taking managerial action is the ________ step in the control process.

third