The Control That Permits Managers to Use Information on Past

question 19

Multiple Choice

The control that permits managers to use information on past performance to bring future performance in line with planned objectives is referred to as

• A) concurrent control.
• B) feedback control.
• C) feedforward control.
• D) outcome control

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Definitions:

Non-price Competition

Strategies used by companies to attract customers through methods other than lowering prices, such as product differentiation and marketing.

Profit-maximizing

A strategy or point where a firm reaches its highest possible profit under given market conditions, taking into account costs and revenue.

Loss

A situation in which a business's expenses exceed its revenues over a specific period, resulting in negative profit.

Price Discrimination

A pricing strategy where a company charges different prices for the same product or service in different markets or to different segments of consumers, based on willingness to pay.