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MGT503-Princilpes of Management-Lecture Handout No 44

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CONTROLLING AS A MANAGEMENT FUNCTION

Introduction and Overview of Controlling

Regardless of the thoroughness of the planning done, a program or decision still may be poorly or improperly implemented without a satisfactory control system in place.

Controlling is that process of regulating organizational activities so that actual performance conforms to expected organizational goals and standards. While interrelated with all of the other management functions, a special relationship exists between the planning function of management and controlling. Planning, essentially, is the deciding of goals and objectives and the means of reaching them. Controlling lets manager tell if the organization is on track for goal achievement, and if not, why not. A well-developed plan should provide benchmarks that can be used in the control process.

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MGT503-Princilpes of Management-Lecture Handout No 26

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STRATEGIC MANAGEMENT - II

THE STRATEGIC MANAGEMENT PROCESS

The strategic management process is an eight-step process that encompasses strategic planning, implementation, and evaluation.

  • The first step is identifying the organization’s current mission, objectives, and strategies.
    1. Every organization needs a mission, which defines the purpose of the organization. What is the organization’s reason for being in business?
    2. It’s also important to identify the organization’s current objectives and strategies, as well.
  • Read more: MGT503-Princilpes of Management-Lecture Handout No 26