Once Managers Have Measured Actual Performance, They Should

question 69

Multiple Choice

Once managers have measured actual performance, they should

• A)revise accepted standards.
• B)compare actual performance to the standards.
• C)establish the standards of performance.
• D)initiate corrective action.
• E)develop goals and objectives.

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Definitions:

Organizational Strategies

Comprehensive plans developed by businesses to achieve specific goals and to guide the company towards long-term growth and success.

Strategic Business Units

Distinct parts of a company that operate as separate entities, each with its own mission, strategy, and competitors.

Marketing Dashboard

A visual display of important marketing metrics and information to help managers make informed decisions and track performance in real-time.

Marketing Objective

A specific goal that a company aims to achieve through its marketing efforts, such as increasing sales, brand recognition, or market share.