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Premium member Presentation Transcript CONTROLING: CONTROLINGPresented by:: PRATIBHA(77) HIMANI SINGH(8O) NITIN CHOUDHARY(095) RAJ K GAHLOT(092) NKUR KHANDELWAL(112) Presented by:What is Management: Management in all business areas and organizational activities are the acts of getting people together to accomplish desired goals and objectives efficiently and effectively. Management comprises planning, organizing, leading or directing, and controlling an organization (a group of one or more people or entities) or effort for the purpose of accomplishing a goal. What is ManagementCONTROLLING: Controlling – is a management function that involves comparing actual performance with planned performance and taking corrective action, if needed, to ensure the objectives are achieved. Three Phases of Controlling : Anticipating the things that could go wrong and taking preventive measures to see that they don’t. Monitoring or measuring performance in some way in order to compare what is actually happening with what is supposed to be happening. Correcting performance problems that occur. This is the therapeutic aspect of control. CONTROLLINGControlling defined: According to Brech , “Controlling is a systematic exercise which is called as a process of checking actual performance against the standards or plans with a view to ensure adequate progress and also recording such experience as is gained as a contribution to possible future needs.” According to Donnell , “Just as a navigator continually takes reading to ensure whether he is relative to a planned action, so should a business manager continually take reading to assure himself that his enterprise is on right course.” Controlling definedFeatures of controlling: Controlling is an end function Controlling is a pervasive function Controlling is forward looking Controlling is a dynamic process Controlling is related with planning F eatures of controllingDysfunctional Consequences of Control: The following behaviours demonstrate means by which the manager's control efforts can be frustrated: Game playing Resisting control Providing inaccurate information Following rules to the letter Sabotaging Playing one manager off against another Dysfunctional Consequences of ControlTypes of control: The three approaches to designing control systems are: Market control : uses external market mechanisms, such as price competition and relative market share, to establish standards used in system. Bureaucratic control : emphasizes organizational authority. Relies on administrative and hierarchical mechanism, such as rules, regulations, procedures, policies etc, Clan control : regulates employee behavior by the shared values, norms, tradition, rituals of organization’s culture. Types of controlControl process: Control process is a three step process: Measuring actual performance, Comparing actual performance against a standard, And taking managerial action to correct deviations or inadequate standards. ( the control process assumes that performance standards already exist) Control processPowerPoint Presentation: Comparing actual performance with the standards Taking corrective actions Measuring actual performance GOALS AND OBJECTIVES Organizational Divisional Departmental Individual STEP I STEP II STEP IIISTEP I: Measuring actual perfromance: Finding out deviations becomes easy through measuring the actual performance. Common sources of information for measuring performance are: Personal observations Statistical reports Oral reports Written reports STEP I: Measuring actual perfromanceSTEP II: Comparing actual performance against the standard: Comparison of actual performance with the planned targets is very important. Deviation can be defined as the gap between actual performance and the planned targets. The manager has to find out two things here- extent of deviation and cause of deviation. The managers have to exercise control by exception. He has to find out those deviations which are critical and important for business. STEP II: Comparing actual performance against the standardSTEP III: Taking managerial actions: Once the causes and extent of deviations are known, the manager has to detect those errors and take remedial measures for it. There are two alternatives here- Taking corrective measures for deviations which have occurred; and After taking the corrective measures, if the actual performance is not in conformity with plans, the manager can revise the targets. It is here the controlling process comes to an end. Follow up is an important step because it is only through taking corrective measures, a manager can exercise controlling. STEP III: Taking managerial actionsTools for controlling : Feedforward controls : It is a type of control that focuses on preventing anticipated problems since it takes place in advance of the actual work activity. Concurrent controls : It is a type of control that takes place while a work activity is in progress. Feedback control : It is a type of control that takes place after a work activity is done. T ools for controllingPowerPoint Presentation: input processes output Feedforward control Concurrent control Feedback control Anticipates problems Corrects problems as they happen Corrects problems after they occurTECHNIQUES OF CONTROLLING: Control techniques provide managers with the type and amount of information they need to measure and monitor performance. The information from various controls must be tailored to a specific management level, department, unit, or operation. Various techniques are as follows: Quantitative Financial control Budget control Non-quantitative Marketing controls Human resource control TECHNIQUES OF CONTROLLINGFinancial control: By analysing the business's financial reports, we are able to determine how well the business is doing and what we may need to do to improve its financial viability. Financial controls provide the basis for sound management and allow us to establish guidelines and policies that enable the business to succeed and grow. The two things that comes under the perspective of financial controls are: Proactive vs. reactive financial management Assistance in developing financial controls Financial controlBudget control: Budgetary control is defined by the Institute of Cost and Management Accountants (CIMA) as: "The establishment of budgets relating the responsibilities of executives to the requirements of a policy, and the continuous comparison of actual with budgeted results, either to secure by individual action the objective of that policy, or to provide a basis for its revision". Budgetary control methods: Budgets Budgetary controls Budgetary control and responsibility centres Budget controlMarketing control: Marketing controls helps us to monitor a company's marketing strategy. This includes: Research Testing Measurable Pricing strategy Promotion strategy M arketing controlHuman resource control: Human resource management (HRM) is one of the key aspects of running an organisation, and an effective human resource management model is essential to success . To get the best out of your business, we have to get the best out of its people and the human resource management policies will go a long way to determining the fortunes of the organisation. The solution to control in a MNC is to combine both the bureaucratic-technical approach with a social-cultural emphasis in order to effectively use opportunities and cope with the demands of a world market . Human resource controlConclusion: ConclusionThank you: Thank you You do not have the permission to view this presentation. In order to view it, please contact the author of the presentation.