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Saturday, June 25, 2011

Few Important Keywords in Management Functions and Behaviours Part VI


Controlling

Budgetary Control: Measuring performance against plans and expected results
expressed in numerical terms.

Controlling: The managerial function of measuring and correcting performance of
activities of subordinates in order to assure that enterprise objectives and plans are
being accomplished.

Control Process: In managing, the basic process involves establishing standards,
measuring performance against standards and correcting for deviations.

Direct Control: The concept that the most direct of all controls is to assure highquality
managers on the premise that qualified managers make fewer mistakes
requiring other (or indirect; controls, perceive and anticipate problems, and initiate
appropriate actions to avoid or correct for deviations.

Feedback: An informational input in a system transmitting messages of system
operation to indicate whether the system is operating as planned. Information on
operations is relayed to the responsible persons for evaluation.

Feedforward Control: A control system that attempts to identify future deviations
from plans, early enough to take action before the deviations occur.


Organisation Structure and Processes


Accountability: Obligation to account for, and report upon the discharge of

responsibility and/or use of authority.

Authority: Powers and rights entrusted to enable performance of task assigned.
Centralisation: Concentration of authority at higher levels of management.

Coordination: Linking or relating various parts and activities of an organisation to
one another.

Delegation: Entrustment of responsibility and authority from one person to another.

Decentralisation: Systematic delegation of authority in an organisation-wide
context.

Profit Centre: A work unit (department or division) which is held accountable for
the profit it earns and the loss it sustains.

Responsibility: Activities which must be performed to carry out the task assigned.

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