Management 305 1st Edition Lecture 22Outline of Last LectureI. PlanningII. Types of PlansIII. Types of GoalsIV. Traditional Goal-SettingOutline of Current Lecture I. Control ProcessII. Organizational PerformanceIII. Types of ControlCurrent LectureManagerial ControlWorkplace ExpectationsControl-Monitor: planning-Compare: empowering-Correct: protectingControl ProcessStep 1: Measuring actual performanceStep 2: Comparing actual performanceThese notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute.Step 3: Taking managerial actionSTEP 1Measuring Actual PerformanceHow to measure?ObservationsReportsWhat to measure?-Subjective (qualitative)-Objective (quantitative)How to measure?-Personal Observations-Statistical Reports-Oral Reports-Written ReportsSTEP 2Comparing actual performance against the standardSTEP 3Taking managerial action1) Do nothing-Standard is met-Variance is acceptable-Out of control?2) Correct the actual performance-Training – Discipline Immediate corrective action-Compensation Basic corrective action3) Revise standardOrganizational PerformanceProductivity -Price x Number Sold-Quantity ProducedEffectiveness-RankingsTypes of ControlsFeedfoward Control-Anticipates problems-Most desirableConcurrent Control-In conjunction with problemFeedback Control-After problem has occurred-Most
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