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Chapter 16 Control

MGMT Chuck Williams. Chapter 16 Control. Designed & Prepared by B-books, Ltd. Begins by establishing clear standards of performance. Involves comparing actual performance to desired performance. Takes corrective action to repair performance deficiencies. Is a dynamic, cybernetic process.

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Chapter 16 Control

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  1. MGMT Chuck Williams Chapter 16Control Designed & Prepared byB-books, Ltd.

  2. Begins by establishing clear standards of performance Involves comparing actual performance to desired performance Takes corrective action to repair performance deficiencies Is a dynamic, cybernetic process Consists of feedback control, concurrent control, feedforward control The Control Process But… controlisn’t always worthwhile or possible 1

  3. FeedbackControl Gather information about performancedeficiencies after they occur ConcurrentControl Gather information about performancedeficiencies as they occur FeedforwardControl Monitor performance inputs rather than outputs to prevent or minimizeperformance deficiencies before they occur Feedback, Concurrent, and Feedforward Control 1.5

  4. Control Methods Bureaucratic Objective Normative Concertive Self-Control 2

  5. BalancedScorecard Budgets,Cash Flow, EVA Customer Defections Quality Waste andPollution What to Control? 3

  6. Customer Perspective InternalPerspective Innovation and LearningPerspective FinancialPerspective The Balanced Scorecard 3.1

  7. The Financial Perspective Cash flow analysis Predicts how changes in a business will affect its ability to take in more cash than it pays out Balance sheets Income statements Financialratios Provide a snapshot of a company’sfinancial position at a particular time Show what has happened to an organization’s income, expenses, and net profit over a period of time Used to track liquidity, efficiency, and profitability over time comparedto other businesses in its industry 3.2

  8. Economic ValueAdded The amount by which company profits exceed the cost of capital in a given year Economic Value Added (EVA) Common Costs of Capital • Long-term bank loans • Interest paid to bondholders • Dividends and growth in stock value that accrue toshareholders 3.2

  9. The Internal PerspectiveControlling Quality Excellence Value Conformance to Expectations 3.4

  10. Good housekeeping Material/product substitution Process modification Controlling Waste and Pollution 3.5

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