control in managment
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very detailed explainationTRANSCRIPT
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ControlPrinciples of management
Presented by: Danivor Noronha, Stephan Pereira and Nathanael
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Danivor & Stephan,FYBMS,Wilson College 2
CONCEPTS OF CONTROL
ControlCompare
with standard
Check or verify
RegulateExercise
authority over
Curb or restrain
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Danivor & Stephan,FYBMS,Wilson College 3
Definitions
“Controlling is the measurement and correction of performance in order to make sure that enterprise objectives and the plans devised to attain them are accomplished”
By Harold Koontz
“Controlling means to guide someone in the direction it is meant to go”
By Louis Allen
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Danivor & Stephan,FYBMS,Wilson College 4
1. Closely linked with other management functions
2. Used at all levels of management3. Action oriented system4. Control is a process of evolution5. Regular and continuous activity6. Control eliminates wastage7. Dynamic and forward-looking concept
Characteristics of control function
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Danivor & Stephan,FYBMS,Wilson College 5
Complexity of
modern organization
Weakness in the
psychological make-
up
Maintenance of
standards Employees may
succumb to temptations
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Need for control
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Danivor & Stephan,FYBMS,Wilson College 6
Advantages of controlling
Facilitates achievement
of targets
Facilitates regular
consultation
Facilitates co-ordination
and efficiency
Avoids deviations
Avoids wastages
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Danivor & Stephan,FYBMS,Wilson College 7
Advantages of controlling
Provides remedial measures
Objectives oriented
Introduces delegation
Removes weak points
Raises employee
morale
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8
Is too much control on employees good ?
Too much of anything is bad !
18-09-2012 Danivor & Stephan,FYBMS,Wilson College
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Danivor & Stephan,FYBMS,Wilson College 9
Steps of controlling process
Setting standard
Measure of performance
Comparison of actual results
with standards
Corrective measures, if
any
Taking follow up
action
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Danivor & Stephan,FYBMS,Wilson College 10
Step 1
Setting/establishing standards or targetsA standard is a criteria against which performance is measured
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Step 2
Measuring actual performancePerformance is measured in line of standards
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Step 3
Comparing actual performance with standard performance and identifying any deviationStandard performance – Actual performance = deviation
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Danivor & Stephan,FYBMS,Wilson College 13
Step 4
Introducing suitable corrective measuresSuitable measures to avoid suitable deviations
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Danivor & Stephan,FYBMS,Wilson College 14
Step 5 (Final)
Taking follow-up actionsFollow-up is essential for every organization
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Relation between planning and controlling
Planning is pre-requisite
It is looking aheadIt is a mental activity
Control is the effect Planning is the basis of controlIt is looking back
It is a physical activity
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Control Techniques
CPM-PERTReturn on
investmentManagement audit
Management information system
MBOSelf control
ModernBudgetary Control
Cost controlBreak even analysis
Statistical controlFinancial statements
Direct supervision and Observation
Traditional
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Traditional Control techniques
Budgetary controlTechnique of management control through budgets
Cost controlBringing companies economy in control
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Danivor & Stephan,FYBMS,Wilson College 18
Traditional control techniques
Statistical controlReports are prepared in forms of tables and graphs
Financial statementsSummary of revenue and expenses during financial period18-09-2012
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Danivor & Stephan,FYBMS,Wilson College 19
Traditional control techniques
Ratio analysisHelps in understanding profitability and liquidity in a business
Direct supervision and observationObservation of employees and their work18-09-2012
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Modern control techniques
CPM and PERTCritical Path Method , Program Evaluation Review Technique
Return on InvestmentThe measure of financial performance of a business
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Modern control techniques
Management auditAn evaluation of the management on a whole
Management information systemA way of accessing company data
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Modern control techniques
Management by objectiveEvaluation of management as a wholeSelf controlFreedom to determine own standards18-09-2012
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Case Study
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Danivor & Stephan,FYBMS,Wilson College 2418-09-2012
One of India’s premiere private sector banks it has created a standard for itself and is a perfect example of Indian spirit of perfect control and planning internationally
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Danivor & Stephan,FYBMS,Wilson College 25
CEO Speak
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Chanda Kochhar, CEO ICICI Bank
“ One can’t just leave everything to the process, because things are changing every day. One day, I might see something that happens to another bank and think, That could happen to us. So I call the team. We brainstorm, we discuss. So there’s an institutionalized process but also a constant on-the-fly process that’s much less structured”
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Thank You18-09-2012