Which of the following terms is used to describe the process by which managers monitor operations and compare actual and expected results? a. strategic planning b. evaluation c. measurement d. control
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- EA EXERCISE 1-2 Differentiating Between Planning, Implementation, and Control [LO1-CC1] Classify the following activities as primarily planning, implementation, or control: a. Doing a cost-benefit analysis of adding a new branch versus installing three new automated teller machines (ATMs). b. Estimating the cost of raw materials to be purchased during the next quarter. C. Analyzing market demand to assist in the preparation of the sales budget. d. Compiling the labour report for the past week. e. Outlining the changes to a process based on a process reengineering team report. f. Documenting the savings from reductions in raw materials inventory resulting from the adoption of a JIT inventory system.Suppose you are senior production manager of a company which produces beverage (carbonated soft drinks) of all flavors. The company is operating since 10 years. You and your production team follow all of the SOP’s (Standard operating procedures) while producing the beverage. You have noticed that while producing the beverage for the 1st quarter of 2021 the artificial color added to beverage is little intensive as compare to previous productions. Artificial color used in limited proportion doesn’t not harm the health of consumers but this time it is accidentally little intensive which can have some side effects. Q1) As a senior production manager what managerial actions you should take to control the situation? Q2) What do you think can be the consequences if correct managerial action is not taken on time?Suppose you are senior production manager of a company which produces beverage (carbonated soft drinks) of all flavors. The company is operating since 10 years. You and your production team follow all of the SOP’s (Standard operating procedures) while producing the beverage. You have noticed that while producing the beverage for the 1st quarter of 2021 the artificial color added to beverage is little intensive as compare to previous productions. Artificial color used in limited proportion doesn’t not harm the health of consumers but this time it is accidentally little intensive which can have some side effects. Q1) As a senior production manager what managerial actions you should take to control the situation?
- Suppose you are senior production manager of a company which produces beverage (carbonated soft drinks) of all flavors. The company is operating since 10 years. You and your production team follow all of the SOP’s (Standard operating procedures) while producing the beverage. You have noticed that while producing the beverage for the 1st quarter of 2021 the artificial color added to beverage is little intensive as compare to previous productions. Artificial color used in limited proportion doesn’t not harm the health of consumers but this time it is accidentally little intensive which can have some side effects. What do you think can be the consequences if correct managerial action is not taken on time?Explain the following financial tools used for control. Include an explanation of each of their value in business planning. financial statements balance sheet income statement audits (internal and external)Sales reports alone will not provide the required information to make a decision about customer value. Your business is experiencing the following: ● Annual sales are increasing . The number of orders is increasing The number of customers is increasing ● Consider what these mean for your business. Which of the following will be the result for the company? (Select all that apply.) a. You will have reduced lifetime customer value. b. You will have higher marketing costs. c. You will have higher accounting costs.
- A is the collection of data that helps forecast whether an idea, opportunity or venture will survive. Select one: O a. SWOT analysis b. business assessment c. feasibility study d. case studySuggest ONE advantage of having an insurance policy and ONE contributingfactor to errors in allocation of deductions from the perspective of an Operational Manager in the Claims Department. Suggest ONE advantage of having an insurance policy and ONE contributingfactor to errors in allocation of deductions from the perspective of an Strategic Manager in Underwriting Department.6- Which one of the following variable, the firm can influence directly? a. Competition b. Consumers c. Store location d. Technology
- Neil is decision maker for Pepe's Atlantic sausage company. Because there are several suppliers of the ingredients and their prices fluctuate, he has come up with several different formulations for the various sausages that he makes, depending on the availability of particular ingredients from particular suppliers. He often orders ingredients accordingly twice a week. Even though he cannot predict when ingredients will become available at a particular price, his ordering of supplied can be considered routine. 1. On what level of management is Neil working? Explain in a paragraph. 2. What attributed of his job would have to change before you would categorize him as working on a different level of management? List them.Suppose a researcher aims to investigate the relationship of investment and growth of XYZ organization for the past 2.5 decades. Which type of time horizon should he used? a. a & b is correct b. Cross-sectional data c. Time Series data d. Panel dataWithin the process in the "monitoring" section, we consider the indicators (choose the correct answer): a. clearly insufficient b. superfluous and interpretable c. the best tool for decision making