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Foundations of control Nils Bernier F06122005 (2-control process…
Foundations of control
Nils Bernier
F06122005
1-Nature and importance
nature
monitoring activities
check processes
correct deviations
importance
information and feedback
protects organization's assets
check goals
2-control process
comparing
actual performance...
... to standards
correct standards
raise
lower
taking action
self explanatory
correcting
basic
immediate
measuring
define actual performance
define what to measure
3-types of controls
time differences
concurrent
feed back
feed forward
activity differences
information
MIS
Comprehensive and secure controls
system firewalls
data backups
data encryption
Financial
leverage ratios
activity ratios
liquidity ratios
profitability ratios
Performance
balanced scorecard
Customer
Internal processes
Financial
people/ innovation / assets
4- Contemporary Issues
cross cultural differences
Workplace
privacy
employee theft
violence
tools
ensure efficiency
control inapropriate actions
ensure efectivness