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Essay 1

  • Submitted by: AbegailLimbo1
  • on February 28, 2014
  • Category: Social Issues
  • Length: 1,058 words

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Managerial Control

Chapter Sixteen

McGraw-Hill/Irwin

Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved.

Learning Objectives
LO 1 Explain why companies develop control systems for employees. LO 2 Summarize how to design a basic bureaucratic control system. LO 3 Describe the purposes for using budgets as a control device. LO 4 Define basic types of financial statements and financial ratios used as controls. LO 5 List procedures for implementing effective control systems. LO 6 Identify ways in which organizations use market control mechanisms. LO 7 Discuss the use of clan control in an empowered organization.

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Managerial Control
Control
 Any process that directs the activities of individuals toward the achievement of organizational goals

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Symptoms of an Out-of-Control Company
Table 16.1

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The Control Process
Figure 16.1

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Bureaucratic Control Systems
Bureaucratic control
 The use of rules, regulations, and authority to guide performance

Market control
 Control based on the use of pricing mechanisms and economic information to regulate activities within organizations

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Bureaucratic Control Systems
Clan control
 Control based on the norms, values, shared goals, and trust among group members.

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Characteristics of Control
Table 16.2

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The Control Cycle
1. Setting performance standards. 2. Measuring performance. 3. Comparing performance against the
standards and determining deviations. 4. Taking action to correct problems and reinforce successes.

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Setting Performance Standards
Standard
 Expected performance for a given goal: a target that establishes a desired performance level, motivates performance, and serves as a benchmark against which actual performance is assessed.

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Measuring Performance
Written reports
Oral reports Personal observation
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Comparing Performance with the Standard
Principle of...

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