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Control and budget in management theory

1.Controlling without the ability to take fast and effective corrective actions makes no sense. Explain why this is the case.

2.To a large degree, controlling is a forward-looking function. Do you agree? Explain why or why not.

3.What are the three basic types of control systems? What are the basic requirements of a control system?

4.In performing the control function, the supervisor must follow three basic steps. What are they?

5.What are three approaches to establishing standards?

6.What is benchmarking? What is its relationship to the controlling function?

7.What are the basic types of budgets? What are the basic approaches to budgeting .Name three of healthcare chief financial officers greatest concerns for 2007.

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This work is to be treated as a guideline to assist you with this assignment. At no time is it intended to be a final submission work and I discourage you from using it as such. Points made and topics discussed in this work should be researched further and validated by the student prior to utilizing it in their own work which will be complied for final submission to their schools.
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1. Controlling without the ability to take fast and effective corrective actions makes no sense. Explain why this is the case.

The very nature of controlling involves change otherwise it is simply watching. Continuous improvement has become an expected and important aspect of controlling however, continuous improvement cannot be achieved without the ability to effectively react to, and prevent occurrence or recurrence of poor quality. The ability to determine the root cause of any identified problem within a system is paramount to any method of controlling.

2. To a large degree, controlling is a forward-looking function. Do you agree? Explain why or why not.

Controlling is a dual tasked activity. Controlling involves monitoring the current state of any process and ensuring it is progressing in the expected manner. If deviation from the norm is recognized, controlling dictates that changes are made to correct the condition and return it to the expected status. Controlling is also a forward-looking function in that every controllable process has a direction. This direction aims toward an end result or goal. Controlling ensures that the end goal is reached by correcting any deviation that could lead a process away from the desired result.

3. What are the three basic types of control systems? What are the basic requirements of a control system?

This question can have many answers depending upon the context of the control system. There are countless control systems available and their requirements are as varied as they are. I have listed some possible answers to the question but can't be sure that they are applicable to your subject...

Internal control is the process designed to provide reasonable assurance regarding the achievement of objectives in the following categories:
a. Reliability of financial reporting,
b. Effectiveness and efficiency of operations, and
c. ...

Solution Summary

Control and budget in management theory are briefly summarized.

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