Exam 10: Managerial Controls

In a short essay, describe workplace privacy concerns for managers today.What are managers doing to control this issue? Does an employee have a right to privacy at their workplace? What can the employer find out about them and their work?

The Balanced Scorecard Upon completing his industrial engineering degree, Evan Karnoupakis took a position as a manager with the Franklin Mint, a manufacturer of commemorative and collectible products.Bruce Benedict, Evan's boss and the VP of operations, has been asked by the organisation's CEO to look into the balanced scorecard approach of performance management to see whether this would be appropriate for the organisation.In turn, Mr Benedict has asked Evan to look into balanced scorecard approaches and report back to him. -Refer to The Balanced Scorecard (Scenario).Evan reported that while the balanced scorecard approach to performance management makes good sense, ________.

Types of Control In order to be successful, Sliders Ice Cream had to have polite, effective customer relations.Although they knew their product was good, the relationships their employees built with the customers would result in repeat customers.In order to do this, they tried several options.First, they implemented a customer suggestion box and provided customers with cards asking them for their opinions of the service they had received.They also tried having managers closely observe their employees' behaviour and provide suggestions to employees on how to best handle difficult situations.Finally, they decided to implement a training program during new employee orientation.They had considered installing hidden cameras to observe employee behaviour while management was not around but, in the end, decided against it. -Refer to Types of Control (Scenario).The customer suggestion and comment cards are considered a form of ________ control.

Financial Ratios Jan was in a big hurry.She had just been given the assignment of reporting on the financial health of her company to the new divisional vice president.Donna, the new vice president, had asked Jan to work up several calculations to help her gain an understanding of the company's financial shape.Jan was working hard and had a big order to fill, one that could make or break her reputation with Donna.She quickly pulled out her old financial management textbook and turned to the chapter on financial ratios to help her answer the questions that were asked. -Refer to Financial Ratios (Scenario).Donna asked Jan to provide her with an estimate of how efficiently the firm is using its assets.Therefore, Jan turned to the section in her textbook on ________ ratios.