Controlling & Performance
_______ refers to the process of monitoring, comparing, and correcting work performance.
Controlling
The management control that takes place while a work activity is in progress is known as __________ control.
concurrent
________ involves defining the organization's objectives, establishing strategies for achieving those objectives, and developing plans to integrate and coordinate work activities.
Planning
An organization's __________ objectives are official statements of what an organization says and wants stakeholders to believe its objectives are.
stated
A company that competes by offering unique products that are widely valued by customers follows a __________ strategy.
differentiation
Organizational __________ is a measure of how appropriate organizational goals are and how well an organization is achieving those goals.
effectiveness
Management by walking around is an example of __________ control.
concurrent
Planning forces managers to anticipate and respond to __________.
change
Environmental scanning refers to the screening of vast amounts of ___________ to detect trends.
information
A firm that is "stuck in the middle" cannot develop a cost or __________ strategy.
differentiation
________ corrective action corrects the problem at once to get performance back on track.
Immediate
Management by ________ ________ occurs when a manager in the work area interacts directly with employees to maintain supervision.
walking around
Short-term plans are those covering __________ year(s) or less.
one
Competitive ________ refers to gathering information about competitors to anticipate their actions rather than merely react to them.
intelligence
An organization that initially brings a product innovation to the market is known as the first __________.
mover
The information provided by a customer who brings a product in for warranty work can be used for __________ control.
feedback
When data is analyzed and processed, it becomes __________.
information
________ plans are made under the assumption that the business environment and internal conditions will remain unchanged.
Static
Corporate ________ involves the theft of proprietary materials or trade secrets by any means.
espionage
A business __________ describes the rationale of how a company is going to make money.
model
The most desirable type of control to prevent anticipated problems is __________ control.
feedforward
________ is the search for the best practices among competitors or non-competitors that lead to superior performance.
Benchmarking
Top executives are mainly involved in __________ planning.
strategic
________ are positive trends in the external environment.
Opportunities
Under Porter's Five Forces Model, one competitive force is the threat of new __________.
entrants