U3 Controlling Flashcards

1
Q

control

A

process of monitoring performance and taking action to ensure the desired results or surpasses performance

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2
Q

Steps in the Control Process

A
  1. set goals
  2. measure results
  3. Compare results with standards
  4. take necessary action
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3
Q

problem situation

A

performance is below expected levels

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4
Q

opportunity situation

A
  • performance is above expected levels
  • learn what can be done to achieve this level in the future
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5
Q

internal controls

A
  • Self-administered
  • Requires trust between manager and employee
  • Subordinate should participate in setting goals
  • Theory Y
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6
Q

external controls

A

Manager exerts control over the subordinate

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7
Q

preliminary controls

A
  • Occur prior to work
  • Provide correct instructions and training for employees
  • Providing the correct resources
  • Requires proactive management
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8
Q

concurrent controls

A
  • Happen while work is occurring
  • Mistakes are fixed continuously
  • Avoids wasted resources
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9
Q

post-action controls

A
  • Occur after the work has taken place
  • Provide information for the future
  • Determines rewards
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10
Q

discipline

A

used to achieve compliance with the organization’s expectations

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11
Q

progressive discipline

A

considers both the severity and frequency of misbehaviour when applying disciplinary action.

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12
Q

Rules of Employee Discipline

A

fair, consistent and systematic

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13
Q

Keys to effective discipline

A
  • done immediately
  • directed towards their actions
  • consistently applied
  • informative
  • occur in supportive setting
  • support something realistic
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14
Q

Merit Pay

A
  • Based on individual achievement
  • Reward for performance
  • Used to remind poor employees and encourage them to improve
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15
Q

Bonus Pay Plans

A
  • Rewarding an employee when targets are met
  • Paying for an outstanding and creative idea
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16
Q

Profit-sharing Plans

A

Providing the employees with a portion of the profits

17
Q

gain-sharing plans

A

Employees receive a portion of the savings or profits for which they contributed

18
Q

Employees Share Ownership Plans

A

Employees receive or purchase shares in the company

19
Q

Share Options

A
  • Employees are given the opportunity to purchase shares at a future date at a fixed price
  • Employees will work hard make certain the share price rises
20
Q

Skills Based Pay Plans

A
  • Employees are paid based on the amount of job-related skills they possess
  • Encourages employees to master new skills
21
Q

Stock Options cons

A
  • When senior management has a large personal stake in a company’s stock value, they may resort to unethical behaviour in order to maximize gains
  • Effect on company’s reputation
  • Effect on employees
22
Q

Feed forward Control

A
  • ensures objectives are clear, proper directions are established, and correct resources are available
23
Q

Output standards

A

measures performance results in term of quality, quantity, cost, or time

24
Q

input standards

A

measures efforts in terms of the amount of work extended in task performance

25
Q

How to compare results equation

A

Need for Action = Desired Performance - Actual Performance

26
Q

Historical comparison

A

uses past performances as a benchmark for evaluating correct performance

27
Q

relative comparison

A

uses the performance of others persons, works units, or organizations as the evaluation standard

28
Q

engineering comparison

A

uses engineered standards set scientifically through such methods as times and motion studies

29
Q

Benchmarking

A

rapidly gaining popularity as a way to make rigorous measurement comparison

30
Q

management by expectation

A

the practice of giving priority attention to situations showing the greatest need for action