Controlling is the most important tool of Management

Controlling is the most important tool

1. 05.04.2022 UNIT 5: controlling

2. 1.After a task has been assigned to a manager 2.Decide the objectives of the task 3. Through planning, a strategy is evolved to accomplish the desired objectives 4. Monitoring (observe and check the progress or quality of (something) over a period of time   a) 1-2-3-4 b)2-3-4-1 c)3-4-1-2 d)4-3-2-1

3. The thermostat controls the cooling process by monitoring the temperature and then switching the compressor on and off. When the sensor senses that it's cold enough inside a refrigerator, it turns off the compressor. If it senses too much heat, it switches the compressor on and begins the cooling process again Thermostat

4. Identify the stage in which managers decide how the resources would be utilised to achieve organisational objectives Planning Organising Controlling Identify the stage in which managers try to visualise whether resources are utilised the same way as planned a) Planning b) Organising c) Controlling   Can you tell now what comes first Planning Controlling

5. Process of analysing where the actions are taken as planned True False What if the actions are not planned: Find reasons for Deviation Take Corrective action

6. It is a continuous process which helps a manager to get the performance of his subordinates correspond to he standard fixed. True False It also defects the variations as soon as they occur and takes corrective steps to prevent them in future. True False

7. ." Henri Fayol : "Control consists in verifying whether everything occurs in conformity with the plan adopted, instructions issued and principles established The control function of management involves determining what is to be accomplished ( THE STANDARD ); what is being accomplished ( THE PERFORMANCE ), and, if necessary, applying corrective measures so that performance takes place according to plans is. in CONFORMITY with the standard.   Vijay an MBA First Student planned to get 75 % in MBA-I , he got 72 % what can be done to take corrective action? Can you tell me what is Standarad , Performance

8. a ) Knowing exactly what WORK is to be done as to quantity, quality and time available b) Checking whether work has been or is being carried out with the RESOURCES available, within the TIME available. at a reasonable COST and in ACCORDANCE with the required standard of quality C) ANALYSING DEVIATIONS , if any, from the planned targets and standards to ascertain the causes thereof d) ADOPTING REMEDIAL MEASURES to correct the deviations, and e) Suggesting revision of plans and targets, if necessary. What Controlling Involves

9. CHARACTERISTICS OF CONTROL Is Controlling essential at all levels of organisation? Yes No   Every manager performs the control function irrespective of his rank and nature of job True False   It is the control function which completes the management process. Yes No Control is all pervasive function

10. CHARACTERISTICS OF CONTROL Control is an ongoing and dynamic function of management. Yes No   As long as an organisation exists, control continues to exist True False   It is amenable to change with the external environment. Yes No Control is a continuous process

11. CHARACTERISTICS OF CONTROL   Control is concerned with checking the current performance and providing guidelines for the future. Yes No   Control is both backward-looking and forward-looking. True False Control is a forward looking process

12. PROCESS OF CONTROLLING Four basic elements: Setting standards of performance at strategic points leading ,motivating, supervising, directing ,guiding of employees. Measurement of actual performance Its comparison with the stated standards of performance

13. GOALS AND OBJECTIVES Organizational Divisional Departmental Individual PROCESS OF CONTROLLING Step 3 Step 1 Step 2

14. Compare Actual Performance With standard Is Standard Being Attained? Do nothing Is Variance Acceptable? Is Standard Acceptable? Do nothing Identify cause of variation Current performance Revise standard Measure Actual performance objective standard NO NO NO YES YES YES Marginal Decisions in the control process

15. TYPES OF CONTROL Feed forward control Concurrent control Feed back Control Corrects Problems after They occur Corrects Problems as They happen Anticipates problems input process output Feedforward control Concurrent control Feedback control

16. TYPES OF CONTROL Feed forward control Type of control that focuses on preventing anticipated problem since it takes place in advance of the actual work. Concurrent control Type of Control that takes place while a work activity is in process e.g direct supervision

17. TYPES OF CONTROL Feedback Control: A type of control that takes place after a work activity is done Financial statements

18. QUALITIES OF AN EFFECTIVE CONTROL SYSTEM Accuracy Timeliness Economy Understandability Reasonable criteria Corrective action

19. CONTROL TECHNIQUES Traditional Personal observation Break even Analysis Budgetary Control Sales, production Modern Management Audit Return on investment PERT CPM

20. CONTROL TECHNIQUES Management Audit: Overall and scientific management of quality of management Comprehensive and constructive review of the performance of management Return on Investment How Effectively resources are used Helps management aware of wastages and inefficiency

21. CONTROL TECHNIQUES PERT: Programme Evaluation & Review Technique CPM: Critical Path Method Both this methods are oriented towards achieving better managerial control of time spent in completing the project. Project is decomposed into activities and then all activities are integrated in a highly logical sequence to find the shortest time required to complete the project PERT focuses on time CPM focuses on Cost

22. CONCLUSION “Planning is the basis of control, Action is the essence of control, Delegation is the key to control, And information is the guide to control.