Controlling Flashcards
What is controlling?
The process of monitoring, comparing and correcting work performance
What is the control process?
1) measuring actual performance
2) comparing actual performance against the standard
3) taking managerial action
How do managers measure?
Personal observations, and statistical, oral and written reports
How do managers compare?
Determine a range of variation (acceptable parameters of variance between performance and standard)
What two things do managers do to take action?
Correct actual performance or revise the standard
What is a balanced scorecard approach?
Looking at four areas that contribute to performance- customer, financial, people and internal process
What are some tools for measuring organisational performance?
Feedforward control, concurrent control, feedback control, financial controls, information control
