In the Control Process,when a Manager Cannot Find a Quantifiable

question 127

Multiple Choice

In the control process,when a manager cannot find a quantifiable performance indicator,he or she should ________.

• A)not measure the factor
• B)use the most appropriate objective indicator
• C)use a subjective indicator
• D)use an objective indicator but measure it several times to ensure reliability

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Definitions:

Personal Responsibility

The idea that an individual is accountable for their actions and wellbeing, including making decisions that affect their life and those around them.

Circular Flow Model

A diagram that demonstrates the movement of money, resources, and goods and services in an economy between households, firms, and the government.

Resource Markets

Marketplaces where resources (like labor, capital, and raw materials) used to produce goods and services are bought and sold.

Invisible Hand

A metaphor coined by Adam Smith to describe the self-regulating nature of the marketplace where individuals' pursuit of self-interest benefits society.