...[pic] FUNDAMENTAL OF MANAGEMENT: SUMMARY FOR FOUNDATIONS OF CONTROL NAME OF TUTORIAL LECTURER: ENCIK SATHISWARAN A/L UTHAMAPUTHRAN TUTORIAL GROUP: L1T3 NAME: CH'NG WEI MING MATRICES NUMBER: A13A0122 SUMMARY In chapter 14 for the fundamentals of management, the important thing that we will learn after studying is : explain the nature and importance of control; describe the three steps in the control process; discuss the types of controls organizations and managers use and discuss contemporary issues in control. For explain the nature and importance of control, control is the management function that involves monitoring activities to ensure that they're being accomplished as planned and correcting any significant deviations. The purpose of control is to ensure that activities are completed in ways that lead to accomplishment of organizational goals. Control is important because it's the only way that managers know whether organizational goals are being met and if not, the reasons why. The value of the control function can be seen in three specific areas which is planning, empowering employees, and protecting the workplace. As the final step in the management process, controlling provides the link back to planning. If manager didn't control, they'd have no way of knowing whether goals were being met. The second reason controlling is important is because of employee empowerment. An effective control...
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...Early Leadership Theories 7 Concept: Contingency Leadership Theories 8 Concept: Contemporary Leadership Theories 8 Concept: Five Sources of Leader Power 9 Concept: Goals of Organizational Behavior 9 Concept: The Big Five Model 10 Concept: Attribution Theory 10 Week 5: Controlling 11 Concept: Control Process 11 Concept: Feedforward/Concurrent/Feedback Controls 11 Concept: Financial Controls 12 Concept: Balanced Scorecard 12 Concept: Benchmarking 13 Week 6: Business Ethics 13 Concept: Differences Between a Firm’s Social Obligations, Social Responsiveness, and Social Responsibility 13 Concept: Politics: Green Approaches/Shades of Green Model 14 Concept: Factors to Determine Ethical Behavior 14 Concept: Ways Managers Can Encourage Ethical Behavior 15 Week 2: Planning Ch. 8 of Management Ch. 9 of Management Concept: Strategies for SWOT Analyses |Details | |As a process of self-examination during her senior year of college, Casey decides to develop a SWOT analysis of her | |prospects relative to getting a...
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...Comparing Measured Performance to Establish Standards – Management compares the performance against the established standards. 4. Taking Corrective Action – Fixing problems or issues so the same mistakes won't be made in the future. Types of Organizational Controls Organizations have to constantly check to make sure they are meeting or exceeding the goals that they have set for the organization. This is where the three types of organizational controls come in: feedforward, concurrent and feedback controls. 1. Feedforward controls prevent any problems because it's in place before any activities began. 2. A concurrent control takes place while the activity is going. 3. Feedback controls involves feedback after the activity is complete. Conclusion As the owner and operator of the Beauty Bar of South Carolina you are the passion behind your beauty business. The owner is the person with ultimate control of every aspect of the business. My responsibility not only includes making a profit, but branding, marketing, finding premises, hiring staff and cash flow. “People are indeed the most valuable asset of an organization. Without their knowledge, skills, and talents, an organization will not be able to operate or compete effectively...
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...Topic 4.Controlling Topic 1: What is Control and Why Engage in It? Introduction Many people think of the word “control” in the context of manipulating someone or something. They think of control as getting someone to do something that WE want them to do, and it follows that they may NOT want to do it! In management, control has a different meaning. It is simply an information system that provides valuable feedback. In your textbook, control is defined as “the process of monitoring activities to ensure that they are being accomplished as planned and correcting any significant deviations” (Robbins et al., page 308). In other words, you measure the results you are getting and compare this with your objectives and then make any necessary adjustments. Managers who control the finances of an organization are often referred to as “controllers.” These managers use financial control measures on a daily basis. Project managers also use control mechanisms to monitor their projects. Control measures are determined at the beginning of a project and used throughout the life of a project to monitor time, budget, and project scope. The control measures give the project team valuable feedback on how they are doing. Just as feedback is a critical component in good communication, feedback is also a key factor in developing management controls. Measurement controls can be set up in virtually any area of an organization. One area that most people have experience with is the annual performance...
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...Kiani Lane and Chelsea Carey October 28th 2015 Deepwater in Deep Trouble Summary: On April 20th 2010, the United States faced not only on of its largest environmental disasters but the biggest offshore oil spill in its history. Off the Gulf of Mexico a large oil rig, Deepwater Horizon, operated by British Petroleum, exploded killing 11 employees and leaking an estimated 4.9 million gallon of crude oil into the ocean. Furthermore, the explosion caused a subsequent fire resulting in the ultimate sinking of the Deepwater Horizon. Although this disaster was accidental there were many warning signs that BP neglected which could have prevented it. To begin with, the construction of the underwater drilling pipelines were shoddy and a vital valve was installed backwards. Consequently the pipelines became brittle, full of cracks, and flooded. In addition, equipment readings, internal documents from BP engineers, and other red flags warned that the rig wasn’t operating correctly and that there was potential for a dangerous explosion. However, all these signs were ignored and not addressed as threats by managers. In an effort to avoid incurring costs and to maximize profit, BP cut corners and underestimated the importance of safety. After initial investigations it became clear that BP not only missed significant signs but staff did not have proper training, maintenance of the rig was inferior, and overall BP lacked formalized emergency responses and a safety culture. As a result BP...
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...Assignment Task 1 1.1 Management is a fragmented and interdisciplinary area of study, with a lot of academic branches. Willman argues this tree is narrower at its roots, and these roots lie primarily in social science. Key to the purpose of the book is to present management theory as applied social science. (Paul Willman, 4 Nov 2014) The organization and coordination of the activities of a business in order to achieve defined objectives. Management is often included as a factor of production along withmachines, materials, and money. According to the management guru Peter Drucker (1909-2005), the basic task of management includes both marketing and innovation. Practice of modern management originates from the 16th century study of low-efficiency and failures of certain enterprises, conducted by the English statesman Sir Thomas More (1478-1535). The directors and managers who have the power and responsibility to make decisions and oversee an enterprise.The size of management can range from one person in a small organization to hundreds or thousands of managers in multinational companies. In large organizations, the board of directorsdefines the policy which is then carried out by the chief executive officer, or CEO. Some people agree that in order to evaluate a company's current and future worth, the most important factors are the quality and experience of the managers. Manager’s roles and skills Manager is responsible for planning and directing the work of group of individuals...
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...applications of neural networks N eural networks have emerged as advanced data mining tools in cases where other techniques may not produce satisfactory predictive models. As the term implies, neural networks have a biologically inspired modeling capability, but are essentially statistical modeling tools. In this chapter, we study the basics of neural network modeling, some specific applications, and the process of implementing a neural network project. 6.1 Opening Vignette: Using Neural Networks to Predict Beer Flavors with Chemical Analysis 6.2 Basic Concepts of Neural Networks 6.3 Learning in Artificial Neural Networks (ANN) 6.4 Developing Neural Network–Based Systems 6.5 A Sample Neural Network Project 6.6 Other Neural Network Paradigms 6.7 Applications of Artificial Neural Networks 6.8 A Neural Network Software Demonstration 6.1 OPENING VIGNETTE: USING NEURAL NETWORKS TO PREDICT BEER FLAVORS WITH CHEMICAL ANALYSIS Coors Brewers Ltd., based in Burton-upon-Trent, Britain’s brewing capital, is proud of having the United Kingdom’s top beer brands, a 20 percent share of the market, years of experience, and of the best people in the business. Popular brands include Carling (the country’s best-selling lager), Grolsch, Coors Fine Light Beer, Sol, and Korenwolf. W6-1 TURBMW06_013234761X.QXD ◆ W6-2 3/7/07 8:07 PM Page 2 Business Intelligence: A Managerial Approach PROBLEM Today’s customer is confronted with...
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...MANAGERIAL WORK 18 Upside-down pyramid 19 THE MANAGEMENT PROCESS 19 FUNCTUONS OF MANAGEMENT (Planning, Leading, Controlling, Organizing) 19 Management 20 Leading 20 Organizing 20 Planning 21 Controlling 21 MANAGERIAL ACTIVITIVES AND ROLES 21 Mintzberg’s 10 managerial roles ( Inter-Info-Decisional) 22. Realities of managerial work 22 MANAGERIAL AGENDAS AND NETWORKING 22 Agenda setting 23 Networking 23 LEARNING HOW TO MANAGE 23 Lifelong learning 23 Portfolios of skills 23 ESSENTIAL MANAGERIAL SKILLS 23 Skill 24 Conceptual skills 25 Technical skills 24 Emotional intelligence 24 Human skills 24 SKILL AND OUTCOME ASSESSMENT 24 Managerial competency 25 Key personal characteristics for managerial success 25 MANAGEMENT 8/e...
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...Module Handbook [Strategic Management] [19-6B02-00L] Module Leader: Deborah FitzGerald-Moore 2008-2009 Level [6] Undergraduate (September Intake) Faculty of Organisation and Management Events Management Subject Group Faculty of Organisation and Management Sheffield Hallam University, Howard Street, Sheffield, S1 1WB Contents WHAT’S THIS MODULE ABOUT? 1 MODULE TEAM CONTACT DETAILS 1 MODULE OVERVIEW 2 SCHEDULE OF STUDY 3 READING LIST 6 TASK BRIEF 1 - COURSEWORK 8 TASK BRIEF 2 - COURSEWORK 9 Presentation Assessment Criteria Task 1 11 Assessment Decision - Task 1 -Presentation 15 Assessment Decision - Task 2 - Company Report 16 TASK BRIEF 3 - EXAMINATION 17 What’s This Module About? This module is here to help you better understand how business organisations work. It will help you to consider why certain companies or organizations in your chosen sector are successful and some are not. Whilst it will not give you a crystal ball it will hopefully give you a forward looking perspective on your chosen industry and many of its major companies This module will also allow you to integrate the wealth of knowledge you have gained throughout your course. Strategy is manifest in all the functional activities of the company i.e. marketing, operations, human resource management and finance and at many different levels of the company from the Board of Directors down to Heads of Department. Strategic decision making occurs in all types...
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...manufacturing 95 Absence of prejudice and discrimination (Mul org) 100 Afirmative action (Mana diver) 104 Action orientation (Plan benefits) 193 Advantage oriented (Plan benefits) 193 After-action review (controlling) 201 Asset management (info + finan control) 203 Area structures 252 Authority (dele + empower) 263 Accountability (dele + empower) 263 Authority and responsibility principle (dele + empower) 263 Advisory authority (org) 265 B Belief in human capital 13 Bureaucratic organization (Max Weber) 38 Bias toward action (att of perform excel) 49 Biculturalism 103 Benefits of planning 193 Budget 197 Benchmarking 199 Best practices 199 Benefit of MBO 207 Break-even analysis 209 Benefits of functional structures 250 Boundaryless organizations 258 C Corporate governance 9 Careers 9 Critical skills for the new WP 11 Contacts 11 Changing nature of organization 13 Command and control (change in org) 13 Concern for work-life balance 13 Controlling 21 Competencies for managerial success 25 Communication (Mana success) 25 Critical thinking (mana success) 25 Classical approaches to management 35 Command (Rules of mana) 37 Coordination (Rules of mana) 37 Control (Rules...
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...Week Five Failure Analysis/Change Strategy Deirdre Martin-Banks, Claudia K. Elizondo, Hana Habbal, Aisha Lawson, Elizabeth Walton, and Erika Williams MGT/521 August 9th, 2015 Dr. Arny Bereson Introduction Analyzing and comparing the organizational strategies of different businesses operating under the same circumstances can help in understanding the factors that affect the success or failure of a business. Team A indentified as an organization that managed to succeed, and Borders Books as a business that failed during the past few years. This paper examines each company by analyzing each of their structure, culture, strategies, and behavioral theories, and creates a change strategy for Borders Book to save the company assuming the failure did not take place yet. Part One A- Southwest Airlines Objective, Mission, and Vision Southwest Airlines was founded in March 15, 1967 by Rollin King and Herb Kelleher, ("About Southwest"). They wanted to start a different airline that advocated for the people. Their objectives were to get passengers to their destinations when they wanted to be there and for the lowest fare possible. From these objectives grew a successful company that passengers and employees alike will agree, advocates for them. The mission to customers then aligned with these objectives and became, “dedication to the highest quality of customer service delivered with a sense of warmth, friendliness, individual pride, and company spirit, ("About...
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...Five Management Functions 1 The Five Management Functions Amy Rodriguez MGT 330 Management for Organizations Instructor Sangita Patel August 26, 2014 MGT330: Management for Organizations MGT330: Management for Organizations Five Management Functions 2 In this paper I will represent the five management functions, planning, organizing, staffing, leading and control and how I incorporated them into my prior position at Cafe’s Incorporated. Examples of these five management functions will be explained in detail. This will show my experiences and knowledge used in this position, and how this company distributed their authority and utilized these functions. I use to work for Cafe’s Incorporated, a profit seeking organization, in Washington State, as a Store and restaurant manager. It is a simple structure business, but using a middle manager for each store, as well as the owners, or executives also and is also a fast paced restaurant that involves few managerial staff members. There was the owner’s, or the executive manager’s, the store manager or the middle manager then the assistant manager and kitchen manager, or front line manager’s. I reported directly to the owners, executive manager’s for all aspects of the business, and was responsible twentyfour hours a day for the store. As the Store Manager I was involved with all executive management, as well as front line management and all employee’s. ...
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...Chapter 6 LO6-2: Differentiate between the global task and global general environments. The task environment is a set of forces and conditions that originate with suppliers, distributors, customers, and competitors and affect an organization’s ability to obtain inputs and dispose of its outputs because they influence managers daily. These forces have the most immediate and direct effect on managers because the pressure from them. The general environment includes the wide-ranging global, economic, technological, sociocultural, demographic, political, and legal forces that affect an organization and its task environment. Opportunities and threats resulting from changes in the general environment are often more difficult to identity and respond to than are events in the task environment. Changes in these forces can have major impacts on managers and their organization. LO6-3: Identify the main forces in the global task and general environments, and describe the challenges that each force presents to managers. Task Environments: 1) Suppliers- the individuals and organization that provide an organization with the input resources it needs to produce goods and services 2) Distributors- Organizations that help other organizations sell their goods or services to customers. 3) Customers- Individuals and groups that buy the goods and services an organization produces. 4) Competitors- Organizations that produce goods and services that are similar to a particular organization’s...
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...Chapter 15—Marketing Performance Measurement MULTIPLE CHOICE 1. The balanced scorecard measures the performance of a business unit from: |a. |a customer perspective. | |b. |a financial perspective. | |c. |a learning and growth perspective. | |d. |all of the above. | |e. |(a) and (b) only. | ANS: D PTS: 1 NAT: AACSB Reflective Thinking | CB&E Model Strategy | R&D Managing strategy & innovation 2. The level of marketing control that examines whether the strategy is being implemented as planned and whether it produces the intended results is termed: |a. |strategic control. | |b. |annual plan control. | |c. |strategic component control. | |d. |profitability control. ...
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...UNIVERSITI KUALA LUMPUR BUSINESS SCHOOL ECB30103 STRATEGIC MANAGEMENT GROUP ASSIGNMENT: WALMART PREPARED BY: GROUP MEMBER 1) NURSYAHIDAH BINTI RAZALI 62283113720 2) NURUL NABILAH BINTI RAZALI 62283313248 3) NURUL ZAITUN BINTI ABDUL MALIK 62283313168 4) UMMI KHALSUM BINTI RAHMAT 62283313053 PREPARED FOR: LECTURER’S NAME: MOHD HAIZAM BIN MOHD SAUDI 1. What is the nature of the company business? What are their product lines? Wal-Mart is the World's largest retailer. It has over 11,500 stores in 28 countries across the globe. Wal-Mart is an American multinational retail corporation that operates a chain of hypermarkets, discount department stores and grocery stores. Walmart products include discount stores, cash and carry wholesale, warehouse club, super-center, supermarket and superstore and also an e-commerce business. 2. Develop a suitable vision and mission statement for the company. Vision i. To be the best retailer in the hearts and mind of consumer and employees. ii. To promote ownership of Wal-Mart ethical culture to all stakeholder globally. Mission i. Saving the people's money so they can live better. ii. If we work together we will lower the cost of living for everyone. iii. Save money. Live better. 3. Using the following template, develop EIGHT (8) core business objectives in fulfilling the stakeholder’s expectation. Please refer...
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