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Impact of technology on a business
Impact of technology on a business
Impact of technology on a business
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Unit 3: Control Objectives
Introduction
Organizational control is the procedure of conveying, assessing, and regulating possessions on a continuing basis to achieve an organization’s goals. To effectively control an association, managers require to not merely knowing what the presentation standards are, however too figure out how to split that information with workers.
The six major uses of controls are the following
• Controls make plans effectual. Managers need to calculate progress, offer comment, and direct their side if they desire to do well.
• Controls make certain that organizational actions are reliable. Policies and procedures assist ensure that labors are included.
• Controls make organizations successful. Organizations require controls in place condition they desire to attain and achieve their aims.
• Controls make organizations well-organized. Efficiency almost certainly depends further on controls than whichever other management purpose.
• Controls provide response on project standing. Not merely do they calculate progress, however controls also offer feedback to contributors as well. Feedback sways performance and is a
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It has augmented the capability to capture, amass, analyze and process extreme amounts of data plus information via empowering the trade decision creator. With the coming of reasonable hardware, mechanism has become a critical part of trade. Today’s dynamic worldwide enterprises require information integrity, reliability moreover validity for timely surge of exact information throughout the corporation. Safeguarding assets to preserve data integrity to attain system effectiveness along with efficiency is an essential control process. Facets influencing an organization to manage and review of computers furthermore the effect of the information method audit purpose on organizations are portrayed in the Figure 1
The success of a company all falls on the shoulders of good management. If you have great management the company will run very smoothly. There are so many things that take place when you have good management. It encourages initiative, encourages innovation, helps with growth and expansion, improves the life of workers, motivates employees and much more. Without good management there would be no success.
Managers tend to motivate people by threatening them. Foster creativity and innovation by micromanaging them. Inspire people by enforcing conformity.
In controlling, organization has lots of risk factors .Manager take some employee who is able to control and handling risk factors.
Controlling in management is a function of management that is concerned with making sure that all other functions of the management are put in place and operated effectively. Controlling ensures that it has taken into consideration the monitoring of the output of the employees as well as the establishing standards of performance that will guarantee that the performance of the will always meets the set standards (Spellman,
Planning aims to reduce uncertainty. It does this by forcing managers to look ahead, anticipate change, consider the impact of change and develop appropriate responses. (Robbins 2012) Through attempted monitoring of conditions in a changing environment, one is able to respond quicker to new information and new circumstances, thereby becoming more flexible. In addition, having the environment under constant observation enables managers to analyse how the organisation will differentiate itself from its competitors, therefore facilitating more chan...
Carrefour planning makes a manager realize what he actually wants to achieve. He cannot direct his subordinates to the right direction if proper planning is not made. A manager cannot be confident, clear and concise enough on how to achieve their goals without having a well-defined plan. Planning will help him realize whether his course of action for achieving goals is right or not.
“Controlling: monitors progress and implements necessary changes where needed. Monitoring is an essential aspect of control” (Bateman & Snell, 2004, p. 18).
As Schermerhorn states in Management planning, organizing, leading, and controlling are the tools needed by managers to accomplish performance goals. It is crucial that managers be able to recognize and act upon problems or opportunities as they arise. Planning is perhaps the cornerstone of the four processes. All good processes were at some point given great detail so as to anticipate possible problems and solutions to those problems. When the Honda Motor Company decided it needed to refine its inventory they didn't just jump at the first idea that was proposed; they first set their objectives and discussed ways to meet those objectives. After giving careful consideration to processes and the streamlining of those processes human error rose as the top need for change. Sounds simple you might respond; in reality it is much more complicated.
However, some influential management authors believe that the classical management functions need to be update. Williams (2005, p. 7) updated the management functions and came out with four functions: making things happen; meeting the competition; organizing people, projects and process; and leading. To make things happen, it is essential to determine goals, planning ways to attain the goals, gathering and managing needed information to make superior decisions and also controlling performance to enable corrective action to take place if performance worsens. This function actually combined Fayol’s idea of planning and controlling. The thought of determining things to accomplish and developing plans to achieve goals is similar to function of planning suggested by Fayol, which is to define goals, establish strategy and develop plans to implement the strategy in order to reach the goals. Besides, Williams mentioned about controlling performance and corrective action, which is corresponding to Fayol’s classical management functions of controlling. Controlling, according to Fayol, involves observing organization performance and take action if necessary to ensure that goals are to be achieved. Nevertheless, the action of gathering and managing needed information to enable good decisions to be made is not stated in classical management functions. Based on the updated functions, organizing people, projects and processes included consideration of people issues and work processes. At the same time, Fayol mentioned organizing, which is the management process of determining best way to arrange organization’s resources and activities. They actually have the same meaning where both are about locating organization’s resources, which are the employees and also the work processes or activities. The Learning Company, a company that develops and markets games and software, was purchased by toy company Mattel. It was experiencing loss after three years of the purchase because each department in the company works independently and do not share resources.
The report highlight’s the essential aspects of the control process. In terms of concurrent feedback as well as feed forward, that companies can use to implement so that they can have better outcomes in terms of efficiency of the business. Consequently the report underlines as well as emphasizes of the many contributing factors of these controls. The authors have contrasting views on the control models of an organization, they believe that in order to create an effective control process, and organization first needs to determine its strategic plans for instance in terms of what it is and where is it going.
There are many different types of control that can be established in an organization depending on its goals and objectives. There are many different approaches to the management controlling function. Some of these control systems are bureaucratic control, market control and clan control. All of these control systems focuses on a different part of the business depend ending the necessities of the organization in that moment. All of the control systems have their advantages and disadvantages.
This report examines the Control Process applied by different companies, they use the control process to make sure that, the whole departments are working as better they can, the control process improve better benefits to the company, work place, employees, customer and directors. The control process is to maximizing productivity and minimizing costs to achieve their goals. The finding in this report is based on books and Internet sources. This report recommends that, the control process is the process to achieve the goals and also to planning the future.
By not understanding what the controlling activities will include, the planning process is incomplete. In today’s environment, the relationship between project planning and project control are critical. When a project has an unforeseen event occur, it can be contributed to a planning failure. This is where control comes in to implement the corrective action. This unforeseen event is now a lesson learned and is considered in the planning of future projects. Therefore, project planning and effective project control is an iterative process as depicted below (PMBOK ,
Auditing has been the backbone of the complicated business world and has always changed with the times. As the business world grew strong, auditors’ roles grew more important. The auditors’ job became more difficult as the accounting principles changed. It also became easier with the use of internal controls, which introduced the need for testing, not a complete audit. Scandals and stock market crashes made auditors aware of deficiencies in auditing, and the auditing community was always quick to fix those deficiencies. Computers played an important role of changing the way audits were performed and also brought along some difficulties.
The main function of AIS is to provide information derived from the financial transactions. The daily paper record, receipts and invoice, the electronic copies, any kinds of documents could be the source of the financial transaction. The piecemeal data is hard to trace and follow. The traditional accounting information system solves this problem. It collects the information, sorting and processing, making a record and then providing it to the users who are interested in it. However, with the development of technology, the function is being improved. Under the network environment, the accounting information system trends to base on internet to realize the financial information processed electronically and automatically. The emerging functions, such as cloud computing, shadow data, giving convenience to the users via mobile devices. The non-network AIS is no longer meeting the new requirements. In current business world, innovations and improvements are needed to satisfy the varieties requests of customers under the context of multi-cultural. Companies and organizations hope to use information to help planning and solving problems. In the pwc report, the new accounting information system needs efficiency, speed, and real time information to meet the definition of excellence. Given that this is an information era. These factors need the cooperation between IT and Accounting. The system creator according to the