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Controlling

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by

Cassie Wells

on 20 November 2013

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Transcript of Controlling

Management
Controlling Function
Created by:
- Lucia Villa
- Jessica Zapata
- Cassie Wells

Types of Standards - Cost Standard
Measure of failure or success.
Profit.
Most businesses pay more attention to cost controls.
Budget.
Controlling Costs - Credit
Extended credit.
Intrest charges.
Protect credit.
Business tool.
Controlling Costs - Theft
Lose product.
End-of-year/Holidays.
Reducing theft:
Security guards.
Store detectives.
Controlling Costs - Health & Safety
Enough employees.
Costs/Expenses.
Fitness centers.
Measuring and Comparing Performance
Managers gather all information on all parts of a business.
Variance (positive & negative).
Difference between current performance and the standard.
Identify reasons.
Review the process for developing standards.
Negative:
May not make expected performance level.
Problems from planning and implementing.
Information systems.
Taking Corrective Action
When performance doesn't meet standards managers can take three possible actions:
1. Take steps to improve performance.
2. Change policies and procedures.
3. Revise the standard.
Basic Steps
1. Establishing standards for each of the company’s goals.

2. Measuring and comparing performance against the established standards to see if performance met the goals.

3. Taking corrective action when performance falls short of the standards.
Types of Standards - Time Standard
Closely related to quantity and quality.
Most business activities can be measured by time.
Time has an effect on costs.
Top standard for some businesses.
Controlling Costs - Inventory
Inventory.
Whole sellers & retailers.
Low inventories.
High inventories.
Inventory control.
Questions Slide
What are the three basic steps of the controlling function?
What are the major types of standards used in business?
Which standard do you feel is most important to most businesses?
What is Variance?
What actions can managers take if performance does not meet standards?
What areas of business operations should managers monitor to control costs?
What are some examples of business activities where perfection is the only acceptable standard of performance?
Types of Standards - Quantity Standards
Different forms depending on tasks.
Production managers.
Sales managers.
Managers of Administrative services.
Types of Standards - Quality Standards
Not enough to judge.
Fast worker.
"Perfection".
Full transcript