1101IBA Lecture Notes - Lecture 5: Specific Performance, Management, Quality Control

• School: Griffith University
• Department: Business & Management
• Course: 1101IBA
• Professor: Dr Dhara Shah

Document Summary

Outline the four steps of the control process. Outline three approaches to designing control systems. The management function of control refers to al process that keep the manager up to date with what is happening in key areas of the organisations operation and facilitate any necessary organisational changes being made. Controlling: the process of measuring performing and taking action to ensure the planned outcomes are achieved. Provides: a measure of what is happening, check those measurements against some defined objective, determine whether the business is on track. Appropriate controls can help identify specific performance gaps and areas for improvement. Final link in management functions: only way for manager to know whether organisational goals are being met or not. Employee empowerment: encourages manager to delegate, protects the organisation and its assets. The management control process involves 4 steps: establish objectives and standards, measure actual performance, compare results with objectives and standards, take corrective action as needed.