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Ready Notes
The Controlling
Process
Prof. Begum Khaleda Khanam
Why Control?
Control is an issue every
manager faces.
How does control help
the manager?
Control is a process to
regulate organizational
activities to make them
consistent with
established:
Plans
Targets
Standards
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Adapt to
environmental change
Limit the
accumulation of error
Minimize costs
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Financial control:
Concerned with financial resources.
Structural control:
How the elements of structure are serving the
intended purposes.
Strategic control:
How effective are the functional strategies helping
the organization meet its goals.
Copyright Houghton Mifflin Company. All rights reserved.
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Why?
Before they become part of the system.
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What Is a Budget?
It is a plan expressed in numerical
terms.
What is the time frame for a budget?
Usually a year, but sometimes broken
down into quarters and months.
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Developing Budgets
Operating
Unit
Budget
Request
Division
Budget
Request
Organizational
Budget Prepared
by Budget
Committee
Approved by
Budget
Committee
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Income Statement: A
summary of financial
performance over a period of
time, usually one year.
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Integration with
planning
Flexibility
Accuracy
Timeliness
Objectivity
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