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Guidelines for Proper Control in Strategic Management

Guidelines for Proper Control in Strategic Management

Answers

Faith
1. Control should involve only the minimum amount of information needed to give
a reliable picture of events: Too many controls create confusion. Focus on the
strategic factors by following the 80/20 rule: Monitor those 20% of the factors that
determine 80% of the results.
2. Controls should monitor only meaningful activities and results, regardless of
measurement difficulty: If cooperation between divisions is important to corporate
performance, some form of qualitative or quantitative measure should be established to
monitor cooperation.
3. Controls should be timely so that corrective action can be taken before it is too
late: Steering controls, controls that monitor or measure the factors influencing
performance, should be stressed so that advance notice of problems is given.
4. Long-term and short-term controls should be used: If only short-term measures
are emphasized, a short-term managerial orientation is likely.
5. Controls should aim at pinpointing exceptions: Only activities or results that fall
outside a predetermined tolerance range should call for action.
6. Emphasize the reward of meeting or exceeding standards rather than punishment for failing to meet standards: Heavy punishment of failure typically results in goal displacement.
Titany answered the question on October 19, 2021 at 13:49

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