Mgt 330

MGT330

  There are four steps in the controlling function used by companies. The first is reviewing of the standards set in the planning process. This is important because as the book states “Managers who fail to prepare quality standards have no basis for evaluating performance.” Baack, D., Reilly, M., & Minnick, C., & (2014). The second step is measuring the performance of those set standards. Each part of the company will have a certain goal or metric that it needs to meet and this is the area where all of that data needs to be gathered to be measured. The third thing that happens is the data that was gathered at the last step is now compared to the standards that were created at step one. The final step is to make a decision based on the outcome of the progress or failure to meet said goals. Management needs to have a clear plan in place to correct if these goals are not met. If the goals were met then people should be rewarded. Ratio analysis is used by managers and accountants to see how well different parts of the company are running at a glance. They can be used to look at efficiency of operations or to asses the profitability of the company.   

I think that staffing will experience the most change in the next decade. Staffing is I think the most important part of the five management functions. Staffing is a serious issue for a lot of companies. There is so much room for improvement the staffing that I think in the next decade we will learn a lot more about how to make the process better and more efficient. Boeing in St. Louis had a big staffing problem last year. They hired a bunch of new mechanics including myself. Since then they have lost half of the people they have hired and are now trying to rush and hire new people. Boeing has a tough policy when it comes to attendance and I think this has to do with some of it but I think a lot of it is that the hiring process is very long and drawn out. I interviewed in January of last year and did not go in for my first day for almost 6 months. I think that this process could be more streamlined to make retention less of a problem.

I think that leadership will be the think that changes least in the coming decade. I think that most leaders in big companies are resistant to change. That goes for my department in Boeing. The Leadership here has been there for maybe 20 plus years and they think that things are great the way they are. People just hiring in that have been at other companies see the different way  we could be doing things better but again leadership is resistant to change. I think for this reason that leadership will not change that much in the near future.