Please list each of the four steps in the control systems process and explain why each step is important in reaching goals.
What will be an ideal response?
Step 1. Set objectives and standards. Setting objectives and standards is the starting point for both planning and controlling. Objectives and standards increase overall work performance in employees by increasing commitment, motivation, and persistence toward goals.
Step 2. Measure performance. Measuring performance is an easy way to know if objectives are being met and priorities are being attended to.
Step 3. Compare performance to standards. After measuring performance, it is important to compare outcomes to objectives and standards to know if goals will be met.
Step 4. Correct or reinforce. It is important to correct behavior to get the desired results either by using concurrent controls or by corrective action. It is important to give positive reinforcement if on track to meet the objectives to encourage continuous improvement.
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What mechanism is used to convey to managers the standards by which their performance will be measured?
a. the responsibility report b. the scheduled report c. the budget d. all of the above
______ is a discussion in which a number of individuals present individual speeches of approximately the same length on a central subject before the same audience.
a. Brainstorming b. A meeting c. A panel discussion d. A symposium
Fiscal policy, the means by which the U.S. government imposes taxes on individuals and corporations and spends its money, has an impact on spending and thus an impact on the stock of some companies
Indicate whether the statement is true or false.
A digital ________, by itself, provides authentication
A) signature B) certificate C) Both A and B D) Neither A nor B