Exam 17: Evidence-Based Decision Making

Which of the following is characteristic of managerial control in less technologically advanced countries?

Improving Service Standards at AirCargo (Scenario) AirCargo is a regional airline that ships freight between communities in the four western provinces and the northern territories. Company president Mick Ward has asked his team of managers to investigate several complaints he has received about the company's services. Mick is particularly concerned about complaints that the company is not achieving its service commitment to customers. AirCargo promises delivery within 24 to 48 hours between larger centres, and 48 to 96 hours between smaller communities. Unfortunately, Mick has learned that the company is not achieving this standard, particularly in some northern communities, where shipments are often delayed by more than a week. Mick has made it clear to his managers that the status quo is not an option; either delivery times must be improved or their service promise must be adjusted. Ultimately, Mick would like to see AirCargo achieve the same standard as industry leader FastFreight, who promise 48-hour delivery service between any two communities anywhere across Canada! -Which information source allows for feedback,is fast,but historically has a problem of being unable to document information for later reference?

Profitability ratios measure how customer interactions generate profits.

Which of the following is an advantage of oral reports as a source of information for measuring performance?

Companies could use the services of professional investigators for concurrent control to reduce employee theft or fraud.

In less technologically advanced countries,direct supervision and highly centralized decision-making are the basic means of control.

The control process assumes that ________.

In a short essay,define corporate governance and describe some of the current trends in this area.

________ is when a manager in the work area interacts directly with employees to maintain supervision.

________ should be monitored regularly to ensure that all possible protective precautions are in place.

Improving Service Standards at AirCargo (Scenario) AirCargo is a regional airline that ships freight between communities in the four western provinces and the northern territories. Company president Mick Ward has asked his team of managers to investigate several complaints he has received about the company's services. Mick is particularly concerned about complaints that the company is not achieving its service commitment to customers. AirCargo promises delivery within 24 to 48 hours between larger centres, and 48 to 96 hours between smaller communities. Unfortunately, Mick has learned that the company is not achieving this standard, particularly in some northern communities, where shipments are often delayed by more than a week. Mick has made it clear to his managers that the status quo is not an option; either delivery times must be improved or their service promise must be adjusted. Ultimately, Mick would like to see AirCargo achieve the same standard as industry leader FastFreight, who promise 48-hour delivery service between any two communities anywhere across Canada! -The complaints from the customers are a form of ________.

In order to increase the ratio of outputs to inputs,a manager would have to ________.

Deviations that exceed the acceptable range of variation become significant and need a manager's attention.

Employee Theft (Scenario) Barbara is the product manager of an energy company which operates in the Americas. She is concerned about the increased employee theft observed in the factory. A study has shown that $30,000 worth of merchandise was attributed to employee theft in the year 2010. -Information technology has caused employee stealing to ________.

When a performance indicator cannot be stated in quantifiable terms,managers should look for and use subjective measures.

Benchmarks for a company must be created based on the previous performance of the company.

________ is (are)an effective information source for showing relationships but may ignore subjective factors.

The third and final step in the control process is ________.

Which of the following is a performance measurement tool that looks at four areas that contribute to a company's performance?

Employee Theft (Scenario) Barbara is the product manager of an energy company which operates in the Americas. She is concerned about the increased employee theft observed in the factory. A study has shown that $30,000 worth of merchandise was attributed to employee theft in the year 2010. -Barbara consults a criminologist to identify the reasons for employee thefts.Which of the following is the most likely interpretation that the criminologist would present?