Which Managerial Function Concerns Itself with Ensuring That Things Go

question 15

Short Answer

Which managerial function concerns itself with ensuring that things go well by monitoring performance and taking corrective action as necessary?

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Definitions:

Positive Synergies

The beneficial effects or outcomes that result from the cooperation or merger of two or more entities or processes.

Contracting Efficiencies

Improvements in performance or cost savings achieved through outsourcing or entering into contracts for services.

Agency Costs

Expenses stemming from conflicts of interest between principals (owners) and agents (managers) in a corporation.

Decision Management

The process of making business decisions through repeatable and manageable methodologies, often aided by specialized software.