Controlling

ROI Control measures both the absolute and the relative success of a company or company unit by the ratio of earnings to investment of capital.

• True

• False

Planning sets the goals for the organization and controlling ensures its accomplishment.

• True

• False

Budgeting is dividing enterprise programs into packages composed of goals, activities, and needed resources and calculating the costs for each package from base zero.

• True

• False

Management benchmarking compares various strategies and identifies the key strategic elements of success.

• True

• False

In controlling, the manager evaluates how well the organization is achieving its goals and task corrective action to improve employee’s satisfaction.

• True

• False

It is an example of an effective standard for a control system would be.

• Deciding to hire 5 new employees.

• Planning to increase sales of product A from 5,000 to 10,000 per month by December of next year.

• Renting new premises.

• Improving the quality of production.

It compares various strategies and identifies the key strategic elements of success.

• Operational benchmarking

• Management benchmarking

• Management control

• Strategic benchmarking

It is Information about what is happening while it is happening.

• Feedback control

• Feed forward control

• Real-time information and control

• Bureaucratic Control

Control function of management cannot be performed without:

• Staffing

• Planning

• Organising

• Motivating

Don MacKinnon, the person in charge of "Hear Music" has been given goals related to the rollout and sales of this subsidiary of Starbucks. His success at implementing the strategy will be assessed by comparing actual performance against the goals. This comparison is known as:

• Planning

• Controlling

• Implementing

• Organising