1 Taking corrective action is required when the process is A

1)      Taking corrective action is required when the process is:

A. Unpredictable and risky.

B. a new leadership team is required.

C. measured and the results don\'t meet company standards.

D. in its early stag

2) In measuring ____________, it is useful to evaluate internal operations and core processes against benchmarks such as past performance, industry standards, and legal expectations.

A cost effectiveness

B control processes

C best practices

D organizational impact

3)      ________ define how a business should act, while ________ underline what actions should be taken operationally.

A Strategy; goals

B Standards; objectives

C Controls; management

D Objectives; standards

     4) Utilizing specific performance metrics, such as ________, organizations can control processes through measuring the relative effectiveness of internal processes.

A strategy

B earnings

C processes

D employees

       5) Coca-Cola is thinking about entering a new industry, creating their own branch of convenience           stores. As a result, they should conduct:

A internal research of operational efficiency.

B financial objectives research for their R&D department.

C industry process standards research.

D competitor research in soft drinks.

Solution

1. The answer is option \"c\" - process is measured and the results dont comply with the standards. Corrective action will help implement improvement in the process by removing the undesirable situations.

2. The answer is \"b\" - control process - Control process measures performance and internal operations in terms of strategic control points like income, expenses, inventory against the established standards and benchmarks. The difference is evaluated and the cause of the difference is ascertained.

3. The answer is option \"B\" - Standards establish the norms in terms of operations. The standard helps in guiding an organization how it should act. Objectives are goals, aim and intention of an organization. It defines how a business should run its operations in order to achieve the goals.

4. the answer is option \"b\" - earnings. Earnings are financial performance metrics and can be used as a measure to guage the effectiveness of the internal process. Higher earnings growth is a positive metric and a decline in earnings growth is a negative metric.

5. The answer is option \"c\" - as Coca Cola is entering a new industry, it should first understand the industry dynamics. industry process standards research will help it in better understanding the operational dynamics of the new industry.