Effective Managerial Control A Give To Organisational Control
(A Case Study Of Emnite Nig Ltd)
Effective managerial control is paramount in ensuring organizational success and efficiency. It encompasses various aspects of oversight, direction, and regulation to steer the organization towards its objectives. Managerial control involves the judicious utilization of resources, including human capital, finances, and technology, to optimize performance and productivity. This process requires adept leadership, clear communication, and strategic decision-making to maintain coherence and alignment with organizational goals. Implementing robust managerial control mechanisms empowers managers to monitor operations, identify deviations from targets, and institute corrective measures promptly. By fostering accountability and transparency, managerial control fosters a culture of responsibility and commitment among employees, promoting adherence to policies and procedures while fostering continuous improvement. Effective managerial control thus serves as the cornerstone of organizational control, ensuring resilience, adaptability, and sustained competitiveness in dynamic business environments.
Traditionally, business has been considered as an economic institution, which has developed a common unique measurement of efficiency-profit. It is therefore plausible to assume profit maximization as a mutual business objective. This objectives was rejected because it was unrealistic difficult, in appropriate and immoral. To wealth maximization, the decision-making authority lies in the hands of management usually, management is concentrated in the hand of a few, who decisions are carried out by vast number of employees. This idea of delegating, authorizing and subletting in decision making process calls for control to ensure effective implemented of its policies by use at most times they are far from the sceus of operation. Therefore, there has to be mechanism by which the operational and financial policies are implemented with out management having to personally supervise every activity and transaction.
In terms of organization, the work is divided into five chapters, chapter one is an introductory analysis consisting background of the study, statement of problem, objectives of the state significance, scope organization, definition of terms and brief history of the company.
Chapter two reviews the opinion expressed by authors in diverse but related literature. The feature, division and relationship between managed control and the organizational objectives have been treated here. n50 covered all areas that managerial control can help as an effective guide to organizational objectives and the concerned with the research design and methodology. Here the sources of primary data and secondary data. Interview question and method of investigation had been put down
Also the sample used and method of analysis of data has been dealt with,
Chapter four, based on findings from theoretical review of some assumptions shall be made in form of hypothesis. When data considered enough from this work was gathered these hypothesis 9two of them) were tested and validated, using relevant statistics.
Finally, chapter five takes a look at the findings, conclusion based on the finding and recommendations.
Title page
Approval page
Dedication
Acknowledgement
Abstract
Purpose or objective of the study
CHAPTER ONE
1.0 introduction
1.1 Background of the study
1.2 Statement of problem
1.3 Objectives of the study
1.4 Significant of the study
1.5 Scope of the study
1.6 Definition of terms
1.7 Brief history of the company
CHAPTER TWO
2.0 Review of Related Literature
2.1 Definition of Management Control
2.2 PIRO and Management
2.3 Guideline for managerial success
2.4 Principles of management
2.5 Applying principle of management
2.6 Plan of organization
2.7 Areas that managerial control can help
2.8 Organizational objectives
2.9 Limitation of management control
CHAPTER THREE
3.0 Research design and methodology
3.1 Sources of data
3.2 Sources of primary data
3.3 Sources of secondary data
CHAPTER FOUR
4.1 Data analysis
4.2 Summary of results
CHAPTER FIVE
5.1 Findings
5.2 Conclusion
5.3 Recommendations
BACKGROUND OF THE STUDY
The concept of managerial control has developed gradually over the years. Impetus for such development came from both management and organization. Organization has recognized managerial control as a valuable tool in effectively carrying out its responsibility and management have pressed for improvement in managerial control in the in effort to be of assistance to their Claire as well as to permit reductions in organization work made possible by the commitment increase in the credibility of the accounting records.
Management is most important because it deals with establishing and achieving objectives. Management means is not only for identifying, analyzing and deciding goals to be accomplished, but also for assembling effectively the talents of people and utilizing material resources in management is found in almost every human activity. Management exists to some in factory, office, school, bank store, labour using church, armed forces, hospital or income. In factory, university of management among enterprises. The hurdlers be overcome in outing the work to be done. For the practical and operating viewpoint, a manager is expected to spell out objectives, giving adequate regard for the various constraint which the goals must be achieved.
To achieve an objective, there is inevitably the bringing together of available basic resources including men and women, materials, machine, methods,. Money and markets. Refereed to by some as the six ms of management, these resources are brought together and related harmoniously so that the sought end result may be accomplished, all within the predetermined constraints of time effect and cost. Management bears the responsibility to establish and maintain a system of organizational control. It is therefore the responsibility of management to decide on the extent of the control system. The nature and extent of controls vary between an enterprise also from one part of an enterprise to another. The control used will depend on the nature, size and volume of the transactions, the degree of control which members of management are able to exercise personally, the geographical distribution of the enterprise and many the factors. The choice of controls may reflect a comparison of cost of operating individual control against the benefits expected to be derived from them.
1.2 STATEMENT OF PROBLEM
The complexity of modern business technique has led increased attention being paid to the methods of organizational controls. But there has been continued cry as a result of loss of funds by organizations due to embezzlement, fraud, collusion etc. the resources of government ministries, parastalals and corporations shave continue to dwindle due to these views.
Corporations have a lot of financial responsibilities and cannot afford to continue losing some of her resources when there are measures to cub there loses. It is against this background that researchers has carried out this study so as to equate the operation of managerial controls in Emenite company with the established standards. In as much as this research work limits itself to some pertinent areas of managerial controls in Emenite Company with the established standards. In as much as this research work limits itself to some pertinent areas of managerial controls which invariably make it an exhaustive research on topic further could be carried out it.
1.3 OBJECTIVE OF THE STUDY
To find out the management control in Emenite Nigeria limited.
To find out how the management control helps in effectiveness of daily activities in Emenite Nigeria Limited.
To know the cordial relationship between the workers and the management
Identify the effective and efficient utilization of all resources both human and material resources.
To look at the contributions of appointment to the executives position in the company and seek remedies where appropriate.
1.4 RESEARCHE QUESTIONS
Does the company Emenite Nigeria limited regard their workers?
Does Emenite execute the control for the benefit of the organization?
Does the company show curricula on the welfare of their workers?
Does Emenite Nigeria limited a to the land owner where it is situated
Does the company improve by the controls of the management?
Does the control by the management really affecting the workers of the company?
If the company achieves her purpose objectives by their controls does it also affecting people outside the environment?
1.5 SIGNIFICANCE OF THE STUDY
Managerial controls are drawn up virtually by all organizations, but are these actually implemented or do they prevent fraud, safeguard asset and serve as a guide to management control? These questions will be answered for the management and staff will serve as a guide to future researchers in this field. It is also partial equipment for the award of ND certificate.
1.6 SCOPE OF THE STUDY
This research though not an exhaustive one on the topic will limit itself to some pertinent areas of managerial controls which exist in the Emenite company, especially the review of the management and procedural operations of the company.
1.7 DEFINITION OF TERMS
Definition as it relates to this work is given to the following:
AUTHORIZATION
The initiation of contractual obligations.
CONTROL
This means the exercise in the present to achieve a plan previously drawn up for the future
DOCUMENTATION
Refers to all the chart forms, reports and other business papers that guide and describe the working of a company’s system of managerial control.
MANAGEMENT
Thew act or science of working in an organization though being directed by and co-ordination the activities of people to achieve one’s personnel goals in the context of the goals of one’s organization.
Management as a process has to do with the best possible utilization of available resources within the framework of appropriate legal and standards for the maximum achievement of goals and objectives.
1.8 BRIEF HISTORY OF THE COMPANY
The company was established in 1960 by the former eastern region with the technical partnership of turners. A Chester limited of Great Britain. The company’s management structure was changed in 1988 from former technical partners to eternity group of Belgium under agreement of the four former that made up the east central states namely, Abia, Enugu, Imo and Anambra state. They become the subsidiary shareholders while the eternity group became the majority shareholders.
The Company’s staff is about two hundred and fifty spread over main department namely, finance, commercial engineering, production and personnel and administration.
The day to day administration of the company is vested in the managing director assisted by five executive managed. The managing director reports the board of director made up of representatives from termite group and the four different states earlier on indicated. The main product that Emenite limited offers are as follows:
1. Standard corrugated sheets and accessories.
2. Emeceil ceiling boards
3. Emenite pressure pipes
4. An attractive range of plant containers (flower pits) Emenite limited as a members at the Balgain Emenit group has many years of experienced in the manufacture of fibre cement building material and pressure pipes.
Effective Managerial Control A Give To Organisational Control:
It seems like your question is a bit unclear, but I’ll do my best to provide information on effective managerial control and its relation to organizational control.
Effective Managerial Control: Managerial control refers to the process by which managers monitor, evaluate, and influence the activities and performance of their team or department to ensure that organizational goals are being met. Effective managerial control involves the following key components:
- Setting Clear Objectives: Managers must establish clear and specific goals for their teams or departments. These goals should be aligned with the overall objectives of the organization.
- Performance Measurement: Managers need to establish performance metrics and key performance indicators (KPIs) to measure progress toward the established objectives. This could include metrics related to productivity, quality, efficiency, and more.
- Monitoring and Feedback: Regular monitoring of activities and performance is essential. Managers should track progress and provide timely feedback to their team members. This helps identify any deviations from the desired outcomes and allows for corrective actions to be taken.
- Comparing Actual Performance to Goals: Managers need to compare the actual performance of their teams to the established objectives and KPIs. This comparison helps identify gaps and areas that require improvement.
- Taking Corrective Actions: If deviations from the desired outcomes are identified, managers should take appropriate corrective actions. This might involve reallocating resources, providing additional training, or adjusting strategies.
- Communication: Effective communication is crucial for managerial control. Managers need to clearly communicate expectations, objectives, and performance feedback to their team members.
Organizational Control: Organizational control encompasses the broader processes and systems that ensure an organization is functioning in line with its goals and objectives. It involves not only managerial control within individual departments but also the coordination and alignment of various departments and functions within the organization. Organizational control mechanisms include:
- Strategic Planning: This involves setting the overall direction and long-term goals of the organization. It provides a framework for managerial control efforts.
- Budgeting and Financial Control: Organizations use budgeting processes to allocate resources and monitor financial performance. Financial control ensures that expenditures are in line with budgets and financial goals.
- Internal Controls: These are processes and procedures designed to ensure the accuracy of financial reporting, prevent fraud, and maintain compliance with regulations.
- Information Systems: Modern organizations rely on information systems to collect and disseminate data across departments. This aids in decision-making and allows for monitoring and control.
- Performance Measurement: Similar to managerial control, organizational control involves measuring overall organizational performance against strategic objectives.
- Feedback and Continuous Improvement: Organizations use feedback loops to identify areas for improvement and make necessary adjustments to strategies and operations.
In summary, effective managerial control is a critical component of organizational control. It involves the hands-on management of teams and departments to achieve specific objectives. Organizational control, on the other hand, is a broader concept that encompasses the systematic coordination and alignment of various elements within an organization to achieve its overall goals. Both are essential for an organization’s success.