Question 1

__________ control uses prices, competition, and exchange relationships to regulate activities as though they were economic transactions.

Group of answer choices

A. Regulatory

B. Market

C. Bureaucratic

D. Clan

Question 2

The first step in a formal control system is

Group of answer choices

A. setting performance standards.

B. comparing performance against standards and determining deviations.

C. measuring performance.

D. taking action to correct problems.

Question 3

What process provides managers with feedback so they can take steps to correct any problem?

Group of answer choices

A. planning

B. leading

C. organizing

D. controlling

Question 4

The __________ shows the financial picture of a company at a given time.

Group of answer choices

A. management audit

b. debt-equity ratio

C. balance sheet

D.balanced scorecard

Question 5

What is the basis of clan control?

Group of answer choices

A. hierarchy and legitimate authority

B. rules, standards, and regulations

C. the current and future competitive environment

D. interpersonal processes of organizational culture, leadership, and groups and teams