Term
Why is control important?
(3) |
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Definition
1.Planning: are goals on target; what actioins need to adjust
2.Shaping behavior:accountability (employee performance), motivation (increase consistency)
3. Protection: financial & physical security (employees customers public) |
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Term
| What is one of teh functions of MCcOmbs entrepreneur in residence? |
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Definition
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Term
MEASURING PERFORMANCE: HOW
sources of information
(4) |
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Definition
-personal observation
-statistical reports
-oral reports
-written reports |
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Term
MEASURING PERFORMANCE: WHAT
Control Criteria |
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Definition
1.Employees: satisfaction, turnover. absenteeism
2. Budgets: costs, output, sales |
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Term
MEASURING PERFORMANCE
ADVANTAGES/DISADVANTAGES
Personal observation
(3 each) |
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Definition
adv: ge firsthand knowledge
-info isn't filtered
-intensive coverage of work activities
disadv: subject to personal biases
time consuming
obtrusive |
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Term
MEASURING PERFORMANCE
ADVANTAGES/DISADVANTAGES
Statistical Reports
(2 each)
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Definition
adv:-easy to visualize
-effective for showing relationships
disadv:-provide limited info
-ignore subjective factors |
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Term
MEASURING PERFORMANCE
ADVANTAGES/DISADVANTAGES
Oral Reports
(2 each)
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Definition
adv:-fast way to get info
-allow fo verbal nonverbal feedback
disadv:info is filtered
-info can't be documented |
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Term
MEASURING PERFORMANCE
ADVANTAGES/DISADVANTAGES
Written reports
(3 and 1)
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Definition
adv: comprehensive
formal
easy to file and retrieve
disadv: take more time to prepare |
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Term
Taking managerial action
3 ways
(7 things to know) |
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Definition
1. doing nothing: only if deviation is judged to be insignificant
2. correcting actual (current) performance: immediate corrective action, redirect vs aversive, investigative action to locate source of deviation
3. Revising the standard |
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Term
ORGANIZATIONAL PERFORMANCE MEASURES:
PRODUCTIVITY
Efficiency
(3) |
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Definition
-Output: sales revenues
-Inputs: costs of resources
-Personnel: turnover/absenteeism |
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Term
ORGANIZATIONAL PERFORMANCE MEASURES:
PRODUCTIVITY
Quality/Effectiveness |
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Definition
-Output: defects/returns, ontime orders
-Process: errors/rework, waste, safety
-Personnel: satisfaction |
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Term
ORGANIZATIONAL PERFORMANCE MEASURES:
FINANCIAL
Financial (ratio) analysis
(4) |
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Definition
-liquidity
-leverage
-activity
-profitability |
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Term
ORGANIZATIONAL PERFORMANCE MEASURES:
FINANCIAL
Budget Analysis
(2) |
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Definition
-Planning and control tool
-focus on any +/- deviations in actual vs budgeted costs or revenues |
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Term
Tools for controlling organizational performance
(6) |
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Definition
-balanced scorecard
-benchmarking
-continuous quality improvement
-personnel control
-workplace monitoring
-external controls |
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Term
BALANCED SCORECARD 4 areas
1. How should we look to our customers?
2. How will we sustainn our ability to change?
3. How should we appear to our shareholders?
4.What processes must we excel at?
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Definition
1. Customers
2.Learning and growth
3. Financial
4.Internal business process |
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Term
PERSONNEL CONTROL CONCERNS
Employee control steps
(3) |
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Definition
1. Set clear goals/expectations: work policies, quantity, quality, culture
2. Measure
3. Provide feedback: connect to personal goals, recognition, redirection, discipline/aversive |
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Term
Personnel control concerns include
(4) |
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Definition
-attendance
-work quality/quantity
-interactions with others
-felonies |
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Term
Employee discipline process
(3) |
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Definition
1. Verbal warning
2. Written counseling
3. Suspension/termination |
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Term
External controls on monitoring
(3) |
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Definition
-Governmental monitoring
-Security and Exchange Commission (SEC)
-Banks/lenders/investors |
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Term
HOW THE MIGHTY FALL
What control tools (balanced scorecard, benchmarking, CQI etc) could help a company identify Stage 1 decline? |
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Definition
-Quality Management (CQI)
(maybe benchmarking too)
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Term
HOW THE MIGHTY FALL
What personnel control measures might help identify Stage 2 decline? |
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Definition
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Term
HOW THE MIGHTY FALL
What does teh author identify as a major corollary of an organization's decline? |
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Definition
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