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A key challenge of retail management

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deterring theft at checkout

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Effective control systems ensures

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activities lead to attainment of goals

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Control's value lies in

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planning and delegating

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Control is important because (3)

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planning/meeting goals empowering employees protecting the workplace

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Control process: 3 steps

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1. Measuring actual performance 2. Comparing actual performance to some standard 3. Deviations or inadequate standards are corrected

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The control process assumes

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performance standards already exist

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Standards are created

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in the planning function

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To determine actual performance,

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a manager must get performance records, so the first step in control is measuring

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4 sources of information to measure actual performance

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1. personal observation 2. statistical reports 3. oral reports 4. written reports

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Personal Observation pros

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Unfiltered by others Intensive coverage

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Personal Observation Cons

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Bias Time consuming Obtrusive Triggers concern in employees

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MBWA (Management by walking around)

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when a manager is out in the work area and interacting directly with employees, exchanging information about what's going on an opportunity to pick up factual omissions and observe body language

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Statistical Reports pros

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Quantifiable Easy to visualize Effective for showing relationships

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Statistical Reports cons

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Provides limited info Focuses on only a few areas

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Statistical Reports can include

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graphs, bar charts, and numerical displays

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Oral Reports pros

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Fast Feedback Permits expression and words/tone Less labor

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Oral Reports cons

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Info is filtered Difficult to document

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Oral Reports include

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conferences, meetings, one-to-one conversations, or telephone calls

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Written Reports pros

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Formal Permanent Comprehensive.specific

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Written Reports cons

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Time consuming Labor/preparation

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WHAT we measure

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is more important that HOW we measure it

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Universal control criteria

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Absenteeism Turnover Employee satisfaction

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Goal of measuring

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Try to breakdown standards into objective, measurable activities

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There's a problem, now what? (step 3)

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1. do nothing 2. correct actual performance 3. revise the standard

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Immediate corrective action

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corrects the problem right away

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Immediate corrective action examples

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firing an employee changing a price recalling a product

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Basic corrective action

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looks at causes of a problem and addresses them

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Revising the standard: what if the standard is too high or low? 2 options

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1. Revise downward 2. Revise upward

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Revising downward

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can be problematic; managers must be cautious

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Feedforward control

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implementing controls BEFORE an activity begins

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Feedforward control focuses on

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prevention

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Concurrent control

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implementing controls DURING the activity

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Best known concurrent control

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Direct supervision

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Feedback control

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implementing controls AFTER the activity

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Feedback control

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damage occurs before the fix

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2 advantages of feedback control

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1. gives managers good info 2. motivates employees

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MGMT 100 final: Managerial Control – Flashcards

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