Describe the various elements of a control system
Any control system has four elements:
1) A standard or goal: Goals and standards are defined during planning and design processes. They establish what is supposed to be accomplished. These goals and standards are reflected by measurable quality characteristics, such as product dimensions, service times, or employee behavior.
2) A means of measuring accomplishment: Measuring quality characteristics may be accomplished through some sort of inspection activity.
3) Comparison of results with the standard to provide feedback: By comparing results with the standards or goals, one can determine whether corrective action is needed. Many companies use statistical process control as a means of signaling when deviations from standards require corrective action.
4) The ability to make corrections as appropriate: Corrective action might entail adjusting machine settings or retraining employees to provide effective service.
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Which of the following strategies is suggested to help build strong interpersonal business relationships?
A. Spend time in conversations strictly pertaining to business concerns or topics and avoid personal discourse. B. When you will be having ongoing contact or doing repeat business, follow the customer's lead. C. Share confidential information about the organization in order to build trust and respect. D. Assume a quicker familiarity with people from different cultures.
Which of the inventory cost flow assumptions provides the best measure of earnings, where "best" means most appropriate for predicting future earnings, when prices have been declining?
a. Specific identification b. FIFO c. LIFO d. Average cost
The demand-based pricing approach is suited for situations where the distribution channels for
the product are restricted to one or two sources. Indicate whether the statement is true or false
________ is a statute that relieves medical professionals from liability for ordinary negligence when they stop and render aid to victims in emergency situations
A) Good Samaritan law B) Assumption of the risk C) Duty of care D) Res ipsa loquitur