The document discusses the process of controlling in management, which includes:
1) Forming standards of expected performance
2) Measuring actual performance against standards
3) Comparing actual and standard performance and identifying differences
4) Taking corrective actions if needed based on differences
The document discusses the process of controlling in management, which includes:
1) Forming standards of expected performance
2) Measuring actual performance against standards
3) Comparing actual and standard performance and identifying differences
4) Taking corrective actions if needed based on differences
The document discusses the process of controlling in management, which includes:
1) Forming standards of expected performance
2) Measuring actual performance against standards
3) Comparing actual and standard performance and identifying differences
4) Taking corrective actions if needed based on differences
The document discusses the process of controlling in management, which includes:
1) Forming standards of expected performance
2) Measuring actual performance against standards
3) Comparing actual and standard performance and identifying differences
4) Taking corrective actions if needed based on differences
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OPENING PRAYER
CHECKING OF ATTENDANCE CONTROLLING
MANAGERIAL CONTROL
BALANCE SCORECARD OBJECTIVES:
1. Define and describe control, controlling and
managerial control.
2. List the different types of control.
3. Describe the importance of control.
ENDURING UNDERSTANDING:
Effective management is essential
in one’s business. ESSENTIAL QUESTIONS:
When is good management
effective and efficient? Controlling is one of the most basic functions of management, like planning, organizing, staffing, etc.
Controlling is an important management function,
and without controlling management can’t ensure the desired results. Controlling is a systematic exercise which is called as a process of checking the actual progress or performance against the standards or plans with a view to ensure adequate progress and also recording such experience as is gained as a contribution to possible future needs What is controlling in Management? Controlling means the management of the organization is responsible for deciding predetermined standards and making sure that performance of the employees match with the standards set by the management and in case if the performance of employees does not match with standards then taking required corrective measures. The role of the management of an organization is to make sure that the goals of the organization are achieved as planned and on time. Out of the many functions of management, the control function is one of the most important functions of the organization. Controlling means giving instructions to employees and making sure that the instructions are being followed as desired by the management. Controlling employees of the organization is an important skill of a manager. A manager can’t play his role efficiently if he is not good at controlling his team. By controlling his team properly, he can make sure that there is coordination among his team members and by having proper control on the team, he can plan effectively for the future projects. Management control has different types so as to enable the management to choose the form of control depending upon the situation at hand, as it is one of the most important functions of management. Types of Control There are different types of control in an organization that are needed to monitor and regulate organizational processes. The various types of controlling are as follows
1. Feedback Control: Feedback control involves
collecting information about a finished task, assessing the information and improvising these type of tasks in the future. Example: Managers may take feedback from their employees and improve the processes based on the feedback. 2. Concurrent Control: Concurrent control is real-time control wherein the problems are checked in real time and the action is also taken in real-time to avoid any losses. A typical example is Real time traffic analysis of a website in case server goes down. 3. Feed Forward Control or Predictive control: A preventive control is one where you foresee the problem before it occurs and therefore you are able to prevent it. 4. Steering control: As with any vehicle that is on the road, a steering control is one which steers the process onto the right path. In this scenario, the process is ideally an ongoing process and is continually steered in the right direction. It is a combination of feedback control and concurrent control. 5. Yes / No Control: Most typically used in production scenarios, Yes and No control are like lasers on an assembly line. Either the product is up to quality, or it is not. Similarly, the Yes/No control is a simple control that decides whether an activity should proceed or not. 6. Budgetary control: Budgetary control is a type of financial control that controls organizational resources and budgets. This can be done by observing forecasted budget vs actual budget usage and bringing control mechanisms to stop overutilization of the budget. 7. Operational Control: Day-to-day activities are the operations that take place in any organization and the more productive an organization is, the better its operations. Thus, operational control manages the day-to-day activities and processes to ensure efficiency and regulation. 8. Strategic Control: Every organization has long-term goals and objectives. Strategic Control observes the strategic planning and organizational directions and controls the company’s alignment with its own goals. 9. Objectives control: SMART goals are best for any organization and Objectives control utilizes the principles of Management by objectives. Goal- setting is extensively used to give responsibility to employees and control them via Objective control. Process of Controlling in Management 1) Formation of standards The first step of the controlling process is the formation of standards. The manager first prepares a report stating the standards and expected performance from the project given to employees. The standards are not decided by randomly picking a figure, but it is decided on the basis of the past performance of employees and comparing actual performance of last season and the condition of the market. Before revealing the expected standards with employees and giving them the target, the standards are approved from the senior management. After getting tangible standards and the approval of the management, these standards are discussed with the team members, and the target is given to each team member. A preformed standard gives a common goal to employees to work towards. 2) Measurement of actual performance Once the task is completed, it is the job of the manager to measure the performance of the employees. The manager will analyze the performance of each employee and ask them to submit their report of work. 3) Comparison of actual performance with the standard performance After the measurement of the actual report, a comparison of measuring performance is made between the actual performance and the pre- decided standard performance and the difference is calculated between both the performances and a report is generated after the analysis of the performance of all employees. 4) Taking corrective actions if required After comparing the standard performance with the actual performance of employees. The difference is calculated.
Then the performance of each employee is analyzed,
and the difference between the target given to them and the percentage of target achieved by them is observed, and the required actions are taken as per the policy of the company and the past performance of the employee. For example, no actions would be taken against the employee whose performance has been good in the past few months. Taking corrective actions is important; otherwise, employees would start taking their job lightly, and there are chances that you might lose business in the future.