After studying this chapter you will be able to understand: Explain why people take the risks of entrepreneurship; list the attributes of successful entrepreneurs; and describe entrepreneurial teams, intrapreneurs, and home- and web-based businesses;. | Introduction to Management LECTURE 32: Introduction to Management MGT 101 1 Introduction to Management In lecture 31 we discussed Topics from Chapter 16: Early Theories Contemporary Views in Leadership Topics from Chapter 17: What is Control ? The Control Process. 2 Introduction to Management Today in Chapter 17 we will discuss Comparing Controlling for Organizational Performance Tools for Measuring Organizational Performance Contemporary Issues in Control 3 Introduction to Management (Chapter 17) Chapter 17: Introduction to Controlling 4 Introduction to Management (Chapter 17) Comparing 5 Introduction to Management (Chapter 17) 6 Comparing Determining the degree of variation between actual performance and the standard. Significance of variation is determined by: The acceptable range of variation from the standard (forecast or budget). The size (large or small) and direction (over or under) of the variation from the standard (forecast or budget). Introduction to Management (Chapter 17) 7 Defining the Acceptable Range of Variation Introduction to Management (Chapter 17) 8 Example of Determining Significant Variation Introduction to Management (Chapter 17) 9 Taking Managerial Action Courses of Action “Doing nothing” Only if deviation is judged to be insignificant. Introduction to Management (Chapter 17) 10 Taking Managerial Action Correcting actual (current) performance Immediate corrective action to correct the problem at once. Basic corrective action to locate and to correct the source of the deviation. Introduction to Management (Chapter 17) 11 Taking Managerial Action Corrective Actions Change strategy, structure, compensation scheme, or training programs; redesign jobs; or fire employees Introduction to Management (Chapter 17) 12 Revising the standard Examining the standard to ascertain whether or not the standard is realistic, fair, and achievable. Upholding the validity of the standard. Resetting goals that were initially set too low or too high. Introduction | Introduction to Management LECTURE 32: Introduction to Management MGT 101 1 Introduction to Management In lecture 31 we discussed Topics from Chapter 16: Early Theories Contemporary Views in Leadership Topics from Chapter 17: What is Control ? The Control Process. 2 Introduction to Management Today in Chapter 17 we will discuss Comparing Controlling for Organizational Performance Tools for Measuring Organizational Performance Contemporary Issues in Control 3 Introduction to Management (Chapter 17) Chapter 17: Introduction to Controlling 4 Introduction to Management (Chapter 17) Comparing 5 Introduction to Management (Chapter 17) 6 Comparing Determining the degree of variation between actual performance and the standard. Significance of variation is determined by: The acceptable range of variation from the standard (forecast or budget). The size (large or small) and direction (over or under) of the variation from the standard (forecast or budget). Introduction to Management (Chapter .
