Question

Periodically assessing a company's own planning, organizing, leading, and controlling efforts is the essential function of ____.

A. strategic audits

B. feedforward control

C. feedback control

D. competitive audits

E. internal audits

Answer 1

Feedback control is the essential function of periodically assessing a company's own planning, organizing, leading, and controlling efforts.

Step-by-step explanation:

The essential function of periodically assessing a company's own planning, organizing, leading, and controlling efforts is feedback control. Feedback control involves gathering information about actual performance, comparing it to desired performance, and taking corrective action if necessary.

For example, a company may set a goal to increase sales by 10% in a given quarter. Through feedback control, the company can regularly monitor its sales performance, compare it to the desired goal, and make adjustments to its strategies or tactics if it is not on track to reach the target.

Other options mentioned in the question, such as strategic audits, feedforward control, competitive audits, and internal audits, may also be important functions in organizational management, but they are not specifically focused on periodically assessing a company's own planning, organizing, leading, and controlling efforts like feedback control.

Answer 2

Periodically assessing a company's own planning, organizing, leading, and controlling efforts is the essential function of internal audits, which are comprehensive evaluations within an organization.

The correct option is E.

Step-by-step explanation:

The question asks about the essential function involved in periodically assessing a company's planning, organizing, leading, and controlling efforts. The correct answer to this question is "internal audits." Internal audits are evaluations conducted within an organization to assess the effectiveness and efficiency of its operations, particularly those related to planning, organizing, leading, and controlling.

Unlike strategic audits that focus on strategic planning, competitive audits that assess competitors, or feedforward and feedback controls which are parts of the control function in management, internal audits are comprehensive reviews that consider all aspects of the organization's internal processes to ensure that all parts are functioning effectively toward the overall goals and objectives of the business.

The correct option is E.