Question 1 1 pts is concerned with executing a strategy, not making strategy. This type of control functions within the framework the strategy establishes, such as standards, objectives, goals for business units, products, projects, and functions. o Operational control Strategic control Behavioral control Question 2 1 pts Controls start with handling cash. On average, fraud takes 5% from US business revenues. It pays to pay attention. For example, a company may give some employees company credit cards and limit the maximum amount allowed on each. allow the company's credit limit to be charged on each card. give the same limit to all employees. Question 3 1 pts Wiley Coyote invests in Acme Manufacturing because he buys so much gear from them. Acme's debt/equity ratio is 1, meaning they have $1 of debt for every $1 of equity. What should Wiley do with this number? Nothing. It looks good by itself. Compare it the leverage of his bank. Compare it the industry average. Question 4 1 pts When properly designed, organizational controls should provide a way for an organization to ignore environmental changes. lead to better organizational performance. allow the organization to control consumer reactions to their strategy. Question 5 1 pts The Humongous Food Store (HFS) has a turnover ratio of 12. The turnover ratio is revenue divided by average inventory. This means, in a sense, that they sold everything in the store once per month. But HFS is losing money. The manager should create a budget to control expenses. cut staffing and reduce expenses. compare his turnover ratio to other grocery stores' ratios. Question 6 1 pts Most companies use some top-down controls, such as rules, regulations, and formal authority, to guide performance. Top-down controls are also known as normative controls. bureaucratic controls. behavioral controls