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Mgt 330 Final

In: Business and Management

Submitted By triton21
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MGT/330
Week 5 – Group Paper
Control Mechanisms Paper
Explain how these controls affect the four functions of management.

The four functions of management at General Motors which are to plan, organize, direct and control are affected by budgetary, feedback, financial and market controls.

General Motors is depending more on the control mechanisms now, more than ever. Since falling into bankruptcy, General Motors is using budgetary control now as a means of planning and control. W.A. Paton describes the budget as “any statement or report which shows the estimated data of either the course or results of a program or plan of operation. (W.A. Paton. 1932) General Motors uses budgetary control in long-term and short-term management planning.

The new Chief Financial Officer, Chris Leddell, has stated that General Motors has lost billions of dollars in the last year. With that being said Mr. Leddell is very optimistic that General Motors will rebound from bankruptcy and will more than likely be able to show a profit for 2010. The organizational management function is utilizing a now weak financial control and they know they have a long road ahead.

General Motors management team uses feedback controls to help allocate resources and track funds versus production and sales. These control mechanisms affect General Motors management functions by providing an instant indicator, preventing a lagging indicator.

References

Jstor.(2010). General Motors Budgetary Control. Retrieved from http://www.jstor.org
Money.CNN. (2010). GM Opens the Kimono. Retrieved from

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