CONTROLLING

CONTROLLING

1. The Control Process

   • Measuring Actual Performance
     • How
     • What (criteria)
   • Comparing Actual Performance Against the Standard
     • Range of variation
       • Acceptable upper limit
       • Standard
       • Acceptable lower limit
   • Taking Managerial Action
     • Immediate corrective action
     • Basic corrective action
     • Revise the Standard

2. Controlling for organizational performance

   • Controls
     • Feedforward/Concurrent/Feedback Controls
       • Feedforward control
         • Timely and accurate information
       • Concurrent control
         • Direct supervision
         • Management by walking around
       • Feedback control
         • Enhance motivation
         • Provide information on effectiveness of the planning efforts
     • Financial Controls
       • Liquidity: ability to meet its current debt obligations
       • Leverage: use of debt to finance its assets & meet the interest payments on the debt
       • Activity: efficiency to use assets
       • Profitability: efficiency and effectiveness of assets to generate profits.
       • Budgets
     • Balanced Scorecard
       • People/innovation/growth assets
       • Internal processes
       • Customer
       • Financial
     • Information Controls
       • information (processed and analyzed data),
       • data (raw, unanalyzed facts).
     • Benchmarking
   • Measures
     • Organizational productivity
     • Organizational effectiveness
       • how well those goals are being met
     • Industry and company rankings

3. Contemporary Issues in Control

   • Adjusting Controls for Cross-Cultural Differences
   • Workplace Concerns
     • Workplace privacy
     • Employee theft
   • Workplace violence
   • Corporate Governance

4. Controlling

   • Definition
   • Purpose
     • Planning
     • Empowering employees
   • Importance
     • Protecting the workplace

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