Question : Case Study: XYZ Corporation
XYZ Corporation is a manufacturing company known for producing high-quality electronic devices. It is divided into three levels of management: top management, middle-level management, and lower-level management. The company's main objective is to expand its market reach and maintain a strong reputation for innovation and customer satisfaction.
Which management function involves setting performance standards and measuring actual performance against them?
Option 1: Planning
Option 2: Organizing
Option 3: Controlling
Option 4: Leading
Correct Answer: Controlling
Solution : The correct answer is (c) Controlling.
Controlling is a fundamental management function that ensures that the organization's activities are aligned with its goals and plans. It involves establishing performance standards, monitoring progress, comparing actual results with the standards, and taking corrective actions if necessary to ensure that the organization is moving in the desired direction.
The management function of leading in XYZ Corporation involves:
Option 1: Assigning tasks and responsibilities to employees
Option 2: Monitoring and evaluating employee performance
Option 3: Guiding and motivating employees to achieve organizational goals
Option 4: Setting performance standards and measuring actual performance
The management function of organizing in XYZ Corporation involves:
Option 1: Setting performance standards
Option 2: Allocating resources and assigning tasks
Option 3: Monitoring employee performance
Option 4: Motivating employees to achieve goals
Question : Which management function involves setting performance standards and measuring actual performance against them?
Option 4: Directing
The nature of management in XYZ Corporation is best described as:
Option 1: Static and unchanging
Option 2: Rigid and inflexible
Option 3: Dynamic and adaptive
Option 4: Autonomous and independent
The lower-level management in XYZ Corporation is responsible for:
Option 1: Implementing the plans and strategies of top management
Option 2: Developing long-term organizational goals
Option 3: Monitoring and evaluating employee performance
Option 4: Formulating the company's vision and mission
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