PRINCIPLES OF MANAGEMENT GMT1103

PRINCIPLES OF MANAGEMENT GMT1103. Controlling.

Overview. A comprehensive module on controlling in management is intended to cover the final, essential, and continuous function of the management process, ensuring that organizational activities align with plans. This session shows the what is involved in the controlling function such as setting standards, monitoring performance, comparing results to standards, and taking corrective measures.

Learning Objectives. 01 Objective. To understand the concept and importance of controlling in management.

Controlling: Definition. Controlling; is the process ofcomparing the actual performance of the organization with the set standards of the company to ensure that activities are performed according to the plans and if not then taking corrective action..

Control Process. is an organized and methodical approach that facilitates maintaining alignment among organizational activities to achieve the set goals. it entails a set of rational choices that guide managers in tracking performance, detecting problems, and making the necessary adjustments to stay on pace. Breakdown of the stages of the controlling process; Set performance Standards/ benchmarks Measuring Actual Performance - collecting actual data Comparing results with set standards investigating deviations Taking corrective measures.

Types of Controlling. 1.. Preventive Control; Foreseeing possible issues and avoiding them before they arise. Key tools and techniques used; articulating policies and procedures training and onboarding programs so employees get right skills safety checks and quality gates implementing quality assurance mechanisms 2. Corrective Control; Used when anomalies of the expected outcomes are observed. Key tools and techniques used; Root cause analysis performance appraisals process redesign.

Types of Controlling. 3.. Feedback Control; dependent on gathering and evaluating performance information after a task is accomplished. Key tools and techniques used; Key Performance Indicators (KPIs) - numerical measures Variance reports - actual vs. budgeted performance customer feedback and surveys 4. Concurrent Control/ real-time or steering control enables managers to make adjustments if things begin to deviate from the plan. Key tools and techniques used; Dshboards and Live monitoring Supervisory Oversight Control charts.

Types of Controlling. 5.. Strategic Control; regular review of strategies and objectives to make sure the company is progressing in the right direction Key tools and techniques used; Balanced scorecard Benchmarking SWOT Analysis 6. Cybernetic Control involves use of automated processes and feedback to manage complex systems with minimal human intervention. Key tools and techniques used; Sensors and Actuators Programmable Logic Controllers Supervisory Control and Data Acquisition (SCADA) Systems.

Types of Controlling. 7.. Bureaucratic Control; founded on formal rules, procedures, hierarchical structure focused on standardization, compliance, and accountability Key tools and techniques used; Standard Operating Procedures Formal Hierarchies Cmpliance checklists 8. Financial Control ensures the financial sustainability of an organization by monitoring income, expenditure, and investment policies. Key tools and techniques used; Budgeting Financial Statements (P&L, Balance sheet, Cash Flow) Investment Analysis.

Types of Controlling. 7.. Cultural Control; works through corporate culture, which shapes the behaviour of it employees the shared values and traditions that guide the operations of an organization. Key tools and techniques used; Organizational culture development through mission statements, storytelling, rituals, and symbols. Leadership Modelling Onboarding and Socialization.

In conclusion:. This session has taught you how to define the concept conrolling, they financial and non-financial control measures, the types and the actual process of implementing the control function in an organization..

Stretton, A. (2015), Management Implementing Controlling Functions and Activities. PM World Journal Vol. IV, Issue XII-December 2015.