Task 1 Using two of the four forms of control Knights and Willmott, as a framework, use any of the material in Unit 2 to discuss the benefits and challenges of these methods of management. You should also explore the implications these managerial issues provoke in relation to your own practice as a manager or as an employee.
Getting Tired of Never-Ending Assignments? Task 1 The organizational control is an indispensable part of the management system. According to Knights and Willmott, the management control is defined as the process through which the organization controls and influences the behavior and performance of the members of the organization so as to attain the objectives of the organization.
Organization control is an important component in the management function which is responsible to ensure that the goals of organization are achieved and that there are no deviations in the standard performance and actual performance Hannan, Polos and Carroll The control process is not the end process rather at every level of the management function management controls is required.
Managers monitor and evaluate the system, process and performances from time to time in all management in finance, operations, marketing, manufacturing, human resources management and serving customers Kotler The control system is vital for all these functions to meet the standards and achieve objectives.
There are various forms of organizational control and every organization adopts it own controlling methods. Here the essay discusses the four frameworks of organization control given by Knights and Willmott as direct supervision, bureaucratic procedures, cultural control and output and self regulation.
These four frameworks of organizational control have their own relevance in the organization to control various functions and activities. These techniques not just controls the performances but have the motivational techniques to encourage the employees to meet the actual level and standards of performance Griffin Here the discussion is on the two factors of organizational control- Bureaucratic Control and Cultural Control.
The organization control has always been a factor regulated not just by the management but by the employees self regulation, on the contrary, Knights and Willmott states that the organizational culture regulates the behavior of employees and provide them with the workplace which motivates the employees and help them to achieve their targets.
The organization control function must consist of the control mix of bureaucratic control and cultural control and must be implementing by managers effectively Daft This would help the organization to achieve an optimal mix of formal control with bureaucratic form and an informal control through cultural form.
The performance management, motivation among staff and enhancing corporate culture requires the bureaucratic control in the organization with effective leadership Miles The organizational control, bureaucratic control form in the present context in management refers to managing and controlling the performance and output of the employees through punishments and rewards so as to make sure that the employees work performance, output and conduct matches the standards and expectations of senior management to achieve the organizational objectives Novikov Bureaucratic control was first introduced in the technical control during and post years of World War II and greatly increased its importance thereafter.
Bureaucratic control and the other forms of control system differ in homogenous feature on the organization control that mixes within the structure of the organization itself. On the contrary, Robbins and Coulter states that the organization structure is dependent on the culture that the organization and its managers follow which refers to the set practices, norms and rules in professional life.
According to Schermerhorn Culture is the form of controlling the employees behavior, sense of belonging and motivation towards performing in organization and providing the stability within the workplace. The main focus of the organization control is to make the employees meet the targets effectively, motivate and perform according to the standards of the organization Sinnott The leaders of the company focus on developing the culture controls and the bureaucratic controls creating the social norms, sense of shared values, performance enhancements, punishments, rewards and appraisals within the organization Burke Cultural controls include organizations mission statement that employees needs to keep in mind while working, the unwritten social norms, etiquettes, behavior, working ethics, rules and regulations including anti-discrimination policies, standards of conduct and non disclosure agreements, expected work schedules and lastly the deliberate role modeling where new staff is given training to understand and enhance skills and knowledge required at the workplace and career development of existing employees Thygesen Hence these are the benefits for the employees if the organization follows the right process and procedure for cultural and bureaucratic control.
The bureaucratic control in an organization thus helps the managers and individuals to build the system of standards in the organization through rules, regulations, methods of process and verifications Swift This is the way of ensuring efficient operation in the organization through bureaucratic control.
One of the drawbacks in bureaucratic control is, in case the implementation and procedure is not followed properly then there is a possibility of deviation of actual performance with the standard performance Tracy The bureaucratic control fails to provide scope for face to face communication and to involve any informal and practical method of enforcing the compliance program.
It helps in establishing the hierarchies within the organization so as to communicate all the policies and procedures to all the employees Ziviani, Poulsen and Cuskelly Hence, the organizational structure and culture go hand in hand to provide the staff with a workplace. According to his definition the effective control through bureaucracy is by efficient knowledge.
This was to promote the merits, appraisals, recognitions of staff in order to ensure maximum output through utilization of resources of most qualified rather than connected which refers to social norms, relationship building in the organization Burke According to Miller and Rice it is the management culture within the organization to built the bureaucratic control that is significant to enhance practices in supervision and provide the logical rules, regulations and policies so that managers easily evaluate any deviation of actual performance from standard performance.I.
The Weighted Average Cost of Capital and its Importance for Nike Inc. The Weighted Average Cost of Capital (WACC) is the average of the costs of a company's sources of financing-debt and equity, each of which is weighted by its respective use in the given situation/5(1).
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Below is an essay on "Nike Inc.: Cost of Capital" from Anti Essays, your source for research papers, essays, and term paper examples.
NIKE Inc.: Cost of Capital Understanding the case Kimi Ford of NorthPoint Group has to take the decision whether to invest in Nike, Inc. shares. She forecasted a discount rate of 12% and developed her own. The Weighted Average Cost of Capital (WACC) is the overall required rate of return on a firm as a whole.
It is important to calculate a firm’s cost of capital in order to determine the feasibility of a particular investment for a firm.