Principles of Management

To: Stephen Hass, Esq.,

From: Tomeika Thompson

Re: Assignment 5

1. A manager can determine whether his firm needs improvement control by monitoring and regulating how efficiently an organization and its staff are performing the activities necessary to achieve its organizational goals. Companies may determine standards by evaluating their capacity to enable goal achievement, by listening to customers, by observing competitors, or by benchmarking other companies. Some steps that a manager can take to improve strategic planning would be looking into whether the firm can offer any new services to broaden its business by appealing to different group of potential clients. To improve financial planning there should be sufficient cash on hand without compromising the firm investment potential. To improve operations develop objectives that specify how each department will support organizational goals.

2. Some advantages of flexible performance standards can be that by allowing employees the time needed to deal with issues that could cause them to call out would lead to reduced absenteeism. By allowing employees the flexibility to work less hours during the off peak times as well as the option of working more helps to retain employees and you are able to reduce or add to staffing needs as needed. Some disadvantages would be employee productivity could go down because employees are in a home setting they can easily be distracted with TV, chores, running errands and pleasure reading all taking away from work. Employees can abuse the flex schedule by not being there when scheduled to address any customers concerns possibly causing them to take their business elsewhere.

Some advantages of strict performance standards can be in the form of using bonuses or pay increases tied into performance goals can be motivation pushing the employee to perform at higher levels. Under performers are easily identified and eliminated because of accurate record keeping you are able...