14 - MGMT - Chapters 16, 17, and 18

14 - MGMT - Chapters 16, 17, and 18 - 16 17 18 Roadmap The...

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16 17 18
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Roadmap The Main Elements of a Typical Control System Methods of Control The Balanced Scorecard Backchannel Control Methods Managing Service and Manufacturing Operations
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Control System Control : A regulatory process of establishing standards to achieve organizational goals, comparing actual performance to the standards, and taking corrective action when necessary to restore performance to those standards Standard : A basis of comparison for measuring the extent to which organizational performance is satisfactory or unsatisfactory Benchmarking: The process of determining how well other companies perform business functions or tasks.
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The Main Elements of a Typical Control System Establishing goals and standards Measuring performance Comparing performance against goals and standards Taking corrective action Providing reinforcement
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A Typical Control System ex6.1 Establish goals and standards Take corrective action Measure performance Provide reinforcement Variance between performance and goals and standards Compare performance against goals and standards Performance meets or exceeds goals and standards Feedback Feedback
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Establishing Goals and Standards Most organizations operate with a hierarchy of goals. In the case of a business enterprise, the major goals at the top of the hierarchy are normally expressed in terms of profitability and profit growth. These goals are normally broken up into subgoals that can be applied to individuals or units within an organization. The same rules of goal-setting apply to subgoals SMART goals.
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Big Hairy Goal A big hairy goal (BHG) is a goal that is so far from where you are in your career now that you will have to push yourself incredibly hard to achieve it. Achieving Your Own BHG Dream it Do some research Get some experience Produce a step-by-step plan that will make it come true Tell yourself that quitting is not an option Hang in there and keep fighting Surround yourself with successful people Stay focused
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Measuring Performance Once goals, subgoals, and standards have been established, performance must be measured against the criteria specified Information systems must be put in place in order to: - Collect the required data - Compile the data into usable form - Transmit the data to the appropriate people in the organization Remember that quantitative data does not tell the whole story
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The Three Basic Control Methods Feedback Control Gather information about performance deficiencies after they occur Concurrent Control Gather information about performance deficiencies as they occur Feedforward Control Monitor performance inputs rather than outputs to prevent or minimize performance deficiencies before they occur
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Comparing Performance Against Goals and Standards
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This note was uploaded on 06/29/2011 for the course MANA 3335 taught by Professor Carlin during the Fall '08 term at University of Houston.

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14 - MGMT - Chapters 16, 17, and 18 - 16 17 18 Roadmap The...

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