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Control definitions Use your knowledge of management terminology to answer the following questions

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Control definitions

Use your knowledge of management terminology to answer the following questions.

When usingstandards  

 , companies measure themselves against the “best in the business.”

 

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Explanation:

Benchmarking is the process of identifying outstanding practices, processes, and standards in other companies and adapting them to your company.

Training racecar drivers how to escape a burning vehicle is an example offeedforward control  

 , because you are monitoring and changing inputs (the driver) before a performance problem (a fatal crash) can occur.

 

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Explanation:

Feedforward control is a mechanism for monitoring performance inputs rather than outputs to prevent or minimize performance deficiencies before they occur.

A large construction company just purchased safety guards to increase employee safety when cutting lumber. The price of this equipment is part of theregulation costs  

 for the construction company.

 

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Explanation:

Regulation costs are the costs associated with implementing or maintaining control.

Counting the number of times a store clerk greets customers within 30 seconds of their arrival is a form ofbehavior control  

 , because you are looking at the clerk’s actions to judge performance.

 

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Explanation:

Behavior control is the regulation of the behaviors and actions that workers perform on the job.

Autonomous work groups createoutput control  

 when they shape and negotiate the behavior of their members.

 

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Explanation:

Concertive control is the regulation of workers’ behavior and decisions through work group values and beliefs.

A company that buys the latest equipment, but then cannot afford to hire the employees needed to operate it, is having a(n)suboptimization  

 problem.

 

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Explanation:

Suboptimization performance improvement in one part of an organization but only at the expense of decreased performance in another part.

Thebalanced scorecard  

 measure is calculated by taking a company’s revenues, subtracting expenses and taxes, and subtracting the cost of capital invested in tangible assets.

 

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Explanation:

The economic value added (EVA) is the amount by which company profits (revenues, minus expenses, minus taxes) exceed the cost of capital in a given year.