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Managerial Control

Managerial Control. Chapter Sixteen. Managerial Control. Control Any process that directs the activities of individuals toward the achievement of organizational goals. Symptoms of an Out-of-Control Company. Table 16.1. The Control Process. Figure 16.1. Characteristics of Control.

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Managerial Control

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  1. Managerial Control Chapter Sixteen

  2. Managerial Control • Control • Any process that directs the activities of individuals toward the achievement of organizational goals

  3. Symptoms of an Out-of-Control Company Table 16.1

  4. The Control Process Figure 16.1

  5. Characteristics of Control Table 16.2

  6. The Control Cycle • Setting performance standards. • Measuring performance. • Comparing performance against the standards and determining deviations. • Taking action to correct problems and reinforce successes.

  7. Budgetary Controls • Budgeting • The process of investigating what is being done and comparing the results with the corresponding budget data to verify accomplishments or remedy differences • also called budgetary controlling.

  8. A Sales-Expense Budget Table 16.4

  9. Types of Budgets

  10. Financial Controls • Balance sheet • A report that shows the financial picture of a company at a given time and itemizes assets, liabilities, and stockholders’ equity.

  11. The Profit and Loss Statement • Profit and loss statement • An itemized financial statement of the income and expenses of a company’s operations Table 16.6

  12. Financial Controls • Assets • The values of the various items the corporation owns. • Liabilities • The amounts a corporation owes to various creditors • Stockholders’ equity • The amount accruing to the corporation’s owners. Assets = Liabilities + Stockholders’ equity

  13. Designing Effective Control Systems • Establish valid performance standards. • Provide adequate information to employees. • Ensure acceptability to employees. • Maintain open communication. • Use multiple approaches.

  14. Examples of Market Control Figure 16.3

  15. Management Control in anEmpowered Setting Table 16.7

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