Description
BMGT 364 Project 4 (Week 7) - Controlling
Project 4 is due on Tuesday of week 7 at 11:59 p.m. eastern time.
Purpose
In this project, you will gain an understanding of the control function in a business setting. You will compare actual performance with standards, and measure the progress toward the organizational goals, addressing any deviations through corrective action.
Outcome Met by Completing This Assignment
- develop measures and assess outcomes against plans and standards to improve organizational effectiveness
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Explanation & Answer
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OUTLINE
CONTROLLING
THESIS STATEMENT: This paper encapsulates the control function in management of
organizations. Specifically, it analyzes the actual performance of Steel Motors branches against
the established standard for various metrics.
I.
II.
Introduction
Controls
III.
Standard specification
IV.
Corrective action
V.
Conclusion
Running Head: CONTROLLING
Controlling
Name:
Institution:
Course Code:
CONTROLLING
2
Controlling
Introduction
Control is a management function that carries significant weight in determining the
success of organizations. In controlling production, standards are usually created as a measure to
benchmark the actual performance of an organization. Steel Motors is an organization pursuing
the production of a new electric vehicle, and its various branches display different actual
performance over a one-year period, which is compared to the standard of various metrics.
Corrective action for the existing disparities is extensively discussed.
Controls
Control is an integral component in the management of organizations. In the business
setting, it is a function that is used to make sure that what is done is that which was intended. The
function of control entails comparing actual results attained by a firm to the planned results
(Misun, 2017). Various steps characterize the control function in business entities. The processes
include the determination of aspects to control, the development of standards, measuring
performance and undertaking comparisons against the established standards, identifying the
nature of performance, pursuing corrective actions whenever needed, and making adjustments to
the standards and measures if required.
Sleek Motors need to be worried about the results for their new electric-car production. In
the first year’s production results, the standard set by the organization on multiple production
processes has not been achieved. The failure to achieve these standards is evident across its five
branches with some of the branches underperforming significantly compared to their
CONTROLLING
3
counterparts. It is necessary for Sleek Motors to reevaluate its standards or adjust its production
approaches to the electric-car.
Standard specifications
There are various disparities regarding the standards set in the production metrics and the
actual performance of the various branches of Sleek Motors. The standard total cost to
manufacture has been surpassed by four of the five branches of the company. Koenigsegg is the
only branch of Sleek Motors to display cost-efficiency in the production with a total
manufacturing cost of 12,750 compared to the standard 13,500. Kansas City branch is the worst
performing in terms of cost-efficiency with its record of 16,000 total cost to manufacture, which
is 2,500 more than the standard. Moreover, Fort Wayne, Lingotto, and Georgetown branches all
go beyond the standard total manufacturing cost, with the figures of 15,250, 14,250, and 14,200,
respectively.
Regarding the manufacturing cycle time, the organization has performed relatively. Three
out of the five branches, including Koenigsegg, Kansas City, and Lingotto, have performed
better than the standard time set to complete a single vehicle in hours. However, Fort Wayne and
Georgetown branches underperform in the production efficiency regarding time as the total
manufacturing time for both exceeds the standa...