Controlling function of management can be defined as comparison of actual performance with the planned performance. If there is any difference or deviation then finding the reasons for such difference and taking corrective measures or action to stop those reasons so that future thee is match between actual and planned performance. The meaning of controlling makes it clear that controlling function is undertaken for right and timely implementation of plans. Steps Involved in the Management Control Process Management control process is the continuous and ongoing dynamic process of monitoring performance and taking action to ensure desired results. 1. Setting Up of (target) Standards Standards mean target or the yardstick against which the actual performance is measured. The standards must be achievable, high or very high standards which cannot be achieved are of no use. Standards must be set up keeping in mind the resources of the organization and as far Continue reading
Management Concepts
Factors that Contribute to Successful Organizations
An organization is said to be effective when it achieves the expected output as by the management. An effective organization earns profit for investors, offers satisfactory service to clients and has a potential for growth and development. Organizations are able to survive chaotic times due to their adaptability to change. The management which provides good leadership experiences employee retention and the workers are more productive than one with a demoralized workforce. An organization has to facilitate training and continuous learning for employees, the organization has contingency methods of operation that is different situations are handled by the different appropriate ways. An organization has to engage the input of its employees in the decision making. The employees being a valuable asset should be motivated for maximum input. Many studies observe that managers should take cognizance of the different values and beliefs held by employees. There should be no discrimination on gender, Continue reading
Value Architecture – Snapshot of the Company’s Business Model
For an entrepreneur is very important organize his key operational activities to make fundamental business decisions with respect to ‘focus’ — the strategic relevance and prioritization of these activities to achieve a developmental milestone; ‘locus’ — where you should geographically conduct these activities; and ‘modus’ — the way in which these different activities are executed. At the business model level, the focus, locus, and modus of the entrepreneur’s activities represent the company’s output, so represents the unique way in which a business executes its strategy to the market. Focus: Focus decisions are related to the strategic importance and allocation of a company’s resources to business activities, like where to invest additional resources or disinvest resources. The entrepreneur has to focus his attention on what business activities demand priority, resources, and attention. The key decision process here is to prioritize which activities to focus on during a specific stage of growth Continue reading
Modern Aspects of Organizational Structure Development
The structure of the organisation can be described as the overall pattern of the relationships between the various roles and responsibilities which allocate to serve the work to sustain the competitive advantage in order to achieve the direct activities and the organisational goals. These structure which resembles the members of the organisation to plan, compromise, organise the various activities to control and uses many principles with the derived classic and as well as the scientific management issues and changes. The overall structure of the organisation which is both architectural and structural which is visible and also invisible which mainly competes with the other entities which mainly defines the various functions and the entities which represent and provides the various useful insights into the underlying design principles in the management section within the organisation. This is a formal structure which not only focuses on the various principles involved in the management Continue reading
Difference Between Morality and Ethics
Greek word ethos – stands for Ethics, ethos means custom or moral character. Morality originates from the Latin word moralis – manner or customs. Both these words deal with the manner or customs of the people in which they do things. The modern dictionary defines these words as the way people act – that can be either good or bad. A set of agreed rules and the code of conduct within an environment that openly states what is acceptable and what is not acceptable within a society is referred to as Morality. The concept of morality changes with time and situation, this can explain as killing (murder) is an immoral act but in the state of war or in a battlefield killing, murder is allowed, so it be said that morality is synced with ethics. Morality addresses the queries related to ethics on the moral conclusion that can be derived Continue reading
Obstacles to Effective Organizational Performance
Over the past decade there is an abundance of evidence, which could be produced to say that successful organizations are managed by efficient managers. Success in the long run can be ensured only through effective management. Successful managers foster sustainable growth through their skills, attributes and personal qualities. There is a distinction between common sense and common knowledge. Knowing things is different from doing things. Being able to analyze a case, identify a problem, and suggest a correct solution makes a manager more effective. Out of all the characteristics that make an effective organization, the most important factor is the quality and alignment of the human resources. The main obstacles to effective organizational performance are discussed below. 1. Working Conditions Ergonomics does matter for job performance. Not only the furniture and fixtures but also the colors of the rooms and the objects with which people work influence people’s attitudes and Continue reading