In the Control Process, When a Manager Cannot Find an Objective

question 121

Multiple Choice

In the control process, when a manager cannot find an objective and measurable performance indicator, he/she should ________.

• A)use the most appropriate objective indicator
• B)use an objective indicator, but measure it several times to ensure reliability
• C)use a subjective indicator
• D)ignore the control function all together
• E)not measure the factor

Understand the concepts and types of agency relationships.

Recognize the legal implications of an agency relationship and authority types.

Distinguish between employees and agents, and identify the extent of their roles.

Comprehend the duties and rights of agents and principals towards each other.

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Definitions:

Stakeholder Orientation

A business approach that prioritizes the interests, needs, and viewpoints of all parties affected by the company's operations, including customers, employees, and the community.

Material Resources

Physical assets and tangible goods that are necessary or useful for an organization or individual to perform its activities or functions.

Intangible Knowledge

Knowledge that is not easily quantifiable or documentable, often existing in the form of skills, experiences, and organizational practices.

Stakeholder Orientation

An organizational approach that prioritizes the considerations and contributions of all stakeholders in business decision-making and strategy development.