define the controlling function correct answers the process of monitoring and evaluating organizational performance and making adjustments as needed to accomplish an organization's performance plans and goals
what are the five steps in the control process correct answers 1. establish performance...
HHP:3430 Final Exam || with Error-free Solutions.
define the controlling function correct answers the process of monitoring and evaluating
organizational performance and making adjustments as needed to accomplish an organization's
performance plans and goals
what are the five steps in the control process correct answers 1. establish performance standards
2. measure actual performance
3. variance analysis
4. plan corrective action
5. implement corrective action to address performance problems
define step 1: establish performance standards in the control process. correct answers establish
measurable performance standards or targets based on org. goals and business activities
define step 2: measure actual performance in the control process correct answers measure actual
outcomes (how to collect and measure?) through a defined process
define step 3: variance analysis in the control process correct answers comparing and analyzing
variances between actual performance and established performance standards
define step 4: plan the corrective action in the control process correct answers determine whether
or not corrective action is needed and the type of any necessary corrective action
what are the six control characteristics correct answers timeliness
comprehensive
specific and appropriate
objective
reflect responsibility
understandability
why is timeliness important in controlling process correct answers so you can quickly detect
variations
what is a comprehensive view important in controlling process correct answers allows for
holistic view of workers, equipment, and processes
why is it important to be specific and appropriate in the controlling process correct answers help
ensure that controls are measurable and appropriate for the business type.
why is being objective important in the controlling process correct answers so one can
reasonably observe and measure outcomes
why is reflecting on responsibility important in the controlling process correct answers everyone
should have a set of measures related tot their responsibilities and activities to promote
accountability
, why is understandability important for the controlling process correct answers it avoids any
complications from complexities
what are the seven possible benefits of controls correct answers 1. monitor organizational
efficiency and effectiveness
2. enhance org. quality
3. improve communication
4. improve financial stability
5. ensure legal compliance
6. decentralize decision making
7. provide objective measures of performance
what are the costs of controls correct answers controls take a considerable amount of time and
resources, can be poorly designed, can inaccurately report performance, can create overly
competitive toxic environments and promote accountability for all employees
*corrective actions can also fail if poorly implemented
four steps in designing organizational controls correct answers 1. formalization
2. specialization
3. centralization
4. decentralization
define formalization correct answers the degree to which regulations, policies, rules, and
guidelines (formal controls) structure the work completed/ being performned in an organization
Define specialization correct answers refers to the degree organizational tasks are divided into
specific jobs and is related to the concept of formalization
define centralization correct answers reflects an organization's preference for organizational
decision making at higher levels of the organization
define decentralization correct answers reflects an organization's preference for decision-making
across many levels of the organization
what are the three levels of control? correct answers strategic, tactical, operational
what is strategic control correct answers the process of deciding on objectives of the organization
on changes in there objectives, on the resources used to obtain these objectives, and on the
policies that are to govern the acquisition and disposition of these resources (based on strategic
plan)
what is tactical or management control correct answers the process by which managers assure the
resources are obtained and used effectively and efficiently in the accomplishment of the
organization's objectives (effectiveness)
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller FullyFocus. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $11.19. You're not tied to anything after your purchase.
