Thursday, November 1, 2007

BI Master - Management Tasks and Sub-Tasks

Few managers realize that a company plan must provide the framework for the company control system. If missions, goals, strategies, objectives, and plans change, then controls should change. Although this error occurs at the top, repercussions are felt at all levels.

The picture below show how management level are related with management tasks, a cross join between planning and control and the different levels of management.


Planning and control are the two most closely interrelated management functions as our teacher told us in the last class.
The planning function entails deciding today what to do tomorrow. The planning horizon could be several years, one year, few weeks or a day (example is my current project that gives trader information like bonds, equities, cash flows and other instruments)

Once the plan is implemented, the control function takes over for assuring the accomplishment of the plan’s objectives. This requires actual outcomes to be monitored and evaluated, and corrective action must be taken when the plan deviate from planned objectives. The corrective action will be taken by tactical level and a revision in the original objectives could be done.

2 comments:

mySIAD said...

Hi Pedro,

You did a great job with these two management tasks. What about the other management tasks (organization and direction)? I'll wait for next episodes... :-)

Pedro said...

Muito obrigado pelo teu comentario no meu humilde blog!!! É uma honra a tua visita!! vou tentar melhorar o post!!!
Obrigado e beijinhos! :-)

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