工程技术管理学（第3版）（工商管理经典译丛）Chapt08.pptVIP

Managing Engineering and Technology Third EditionBabcock and Morse Controlling Chapter 8 Advanced Organizer Chapter Objective Explain different financial and non-financial systems Controlling Definition “Compelling Events to Conform to Plans” Control Process Establish Performance StandardsPlanning Measure Actual Performance Compare Performance with Standards Measurement of VarianceFeedback and Analysis Corrective Action Control: Closed Loop vs. Open Loop Closed Loop Automatic or cybernetic Monitors or manages process by internal, self-regulating system Essential feature is strong feedback system Example: Home thermostat system Control: Closed Loop vs. Open Loop Open Loop Requires external monitoring or agent to activate control Example: Cruise control on an automobile Timing of Control Feedback Control (Output) Measures system output and variance with predetermined standard Adjusts system to maintain variance within a specified range Timing of Control Screening Control (Concurrent) Control applied concurrently with effort being controlled Timing of Control Feedforward Control (Steering or Preliminary) Attempts to predict the impact of current actions/events Current decisions are refined to facilitate goal attainment Characteristics of Effective Control Systems Effective Efficient Timely Flexible Understandable Tailored Highlight deviations Lead to corrective actions Three Types of Control Financial Human Resource Social Financial Three Major Statements Income Statement Shows financial performance of a firm over a period of time Cash Flow Shows where cash comes from and what it is used for Balance Sheet Shows the firm’s financial position at a particular instant in time Assets and liabilities Ratio Analysis Ratios of two financial numbers taken from financial statements and compared to industry averages Four Types Liquidity: Measures ability to meet short term obligations Ratio Analysis, cont. Leverage: Measures the level of debt in a firm’s financ