Write a note on control charts
What will be an ideal response?
Control charts are graphical tools to monitor and control important marketing metrics. The charts form a graphical
record of performance over time and can signal if corrective actions are required. Control charts can be used with
many different types of marketing-related variables, such as sales by product/service, sales by distribution
channel, sales leads, customer satisfaction, and many others.
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Which of the following are barriers to a successful control system?
a. allowing more than one control-system approach b. allowing employee participation in the execution of control systems c. too much control d. overemphasis on paperwork e. too much emphasis on means instead of ends f. too little employee participation in planning
The terms lump-sum contract and turnkey contract are interchangeable
Indicate whether the statement is true or false