The Managerial Function of Controlling Consists of Which of the Following

question 2

Multiple Choice

The managerial function of controlling consists of which of the following?

• A) Taking actions to ensure that things happen the way they were planned.
• B) Checking to determine if employees are adhering to established plans.
• C) Taking appropriate actions where necessary to correct any deviations from standards.
• D) All of the above.

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Definitions:

Creative Destruction

A process in which technological innovation and progress lead to the phasing out of older industries, products, or methods, fostering new growth.

New Products

Items that have been recently introduced to the market, offering new benefits or improvements over previous versions or filling a previously unmet need.

Monopoly Market Positions

Situations where a single firm dominates the market, either in terms of sales, market share, or influence on the product itself.

Interest-Cost of Funds Curve

A graphical representation that shows the relationship between the cost of borrowing and the amount of funds borrowed.