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Prepare a paper in which you compare and contrast four types of control mechanisms. In your paper be sure to address the following items:
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a. Select an organization with which you are familiar.
b. Identify the four types of control mechanisms that are used in your selected organization.
c. Determine the effectiveness of these control mechanisms.
d. Examine the positive and negative reactions to the use of these controls.
e. Explain how these controls impact the four functions of management in your selected organization.
f. Be prepared with a brief Power Point presentation to outline your findings.
Be sure to cite at least two references in your paper. Properly cite your references. If you used an electronic source, include the URL. If you used a printed source please attach a copy of the data to your paper.
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Solution Preview
a. Select an organization with which you are familiar.
I have selected an organization in which I have worked known as TT Ltd. (www.tttextiles.com) this organization is amongst one of the reputed textile exporter of India.
b. Identify the four types of control mechanisms that are used in your selected organization.
Control mechanism
Control mechanisms assist in increasing communication, empowering the workforce, and attaining the goals set forth by helping management in the company evaluate and compare the performance of the company and/or employee over a specified time period to standards that have been preset, benchmarks and desired targets.
Management control system is the process of influencing human behavior in order to implement the strategy of the organization. A company should have several internal control programs implemented such as, accounting control systems and administrative controls. An Accounting control system consists of financial records and procedures dealing with cash disbursements, cash receipts, purchase of goods and services, employee payroll, and sales or other rendering of goods and services. Functional responsibilities should be performed by separate people or departments. Specific techniques can be in place to appraise any specific procedures of cash, purchases, sales and various other things. Control activities are the policies, procedures, techniques, and mechanisms that enforce management’s directives, such as the process of adhering to requirements for budget development and execution.
TT Ltd has following control mechanisms:
? Top level reviews of actual performance,
? Reviews by management at …
