What Is the Last Step in the Control Process

question 29

Multiple Choice

What is the last step in the control process?

• A)measuring performance based on standards
• B)defining what constitutes performance
• C)setting performance standards
• D)taking action to correct problems and reinforce successes
• E)comparing performance to the standards and determining deviations

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Definitions:

Explicit

Something stated clearly and in detail, leaving no room for confusion or interpretation.

Tacit Knowledge

Knowledge that is difficult to transfer to another person by writing it down or verbalizing it, often gained through personal experience and context.

Escalation of Commitment

The tendency to continue investing in a project or decision despite evidence of its failing prospects, often due to psychological commitment.

Overconfidence

The state of being excessively confident, often leading to underestimating risks, challenges, or the abilities of others.