Course Introduction To Business Management Semester Fall

Course Introduction To Business Management Semester Fall 2021 Instru

Question 1: What is Organizational Control? You must cite 1 external reference to answer this question. (5 marks)

Question 2: Define 8 steps of Kotter's plan for Implementing Change. Use ONE image also to illustrate your answer. Please cite the source of the image and two external references to answer this question. (20 marks)

Question 3: What is Organizational Change? Who are Change Agents? You must cite two external references to answer this question. (15 marks)

Question 4: What are Control Systems? Name 3 different types of Control Systems? You must cite two external references to answer this question. (15 marks)

Question 5: What is Corporate Governance? Why it is important? You must cite two external references to answer this question. (10 marks)

Paper For Above instruction

Organizational control is a fundamental aspect of effective management, involving processes and mechanisms implemented to guide, regulate, and influence organizational activities to achieve desired objectives. Essentially, it serves as a method for ensuring that organizational goals are met efficiently and effectively by monitoring performance and taking corrective actions when necessary. According to Robbins and Coulter (2018), organizational control encompasses planning, measuring performance, comparing actual results with planned goals, and implementing corrective adjustments. This systematic process is vital for maintaining organizational stability, ensuring strategic alignment, and fostering accountability across all levels of management.

One of the key frameworks for implementing change within organizations is Kotter’s 8-step plan, which provides a structured approach to facilitate successful transformation. The steps include: 1) Creating a sense of urgency to motivate change, 2) Forming a powerful guiding coalition to lead the change effort, 3) Developing a vision and strategy for change, 4) Communicating the vision effectively, 5) Removing obstacles that hinder progress, 6) Generating short-term wins to build momentum, 7) Consolidating gains and producing more change, and 8) Anchoring new approaches into the organizational culture. An illustrative image of Kotter’s steps highlights these phases visually, aiding in understanding the sequential nature of change management (Kotter, 1996; source of image: Harvard Business Review). Implementing these steps systematically helps mitigate resistance, align stakeholders, and embed the change effectively into organizational practices.

Organizational change refers to the process through which organizations evolve and adapt to internal or external pressures, which can include technological advancements, competitive dynamics, or shifts in market demand. It involves modifying structures, processes, policies, or culture to improve performance and ensure sustainability. Change agents are individuals within or outside the organization who actively facilitate, support, and oversee the change process. They play a critical role by diagnosing problems, designing intervention strategies, and fostering acceptance among employees. According to Cummings and Worley (2015), change agents function as catalysts for change, often possessing expertise in change management techniques and influencing organizational members to embrace new ways of working.

Control systems are integral to organizational management, serving as frameworks to regulate activities and measure performance relative to set standards. They encompass a variety of mechanisms that monitor progress, identify deviations, and initiate corrective actions. The three main types of control systems are: feedforward control, concurrent control, and feedback control. Feedforward control involves anticipating problems before they occur by analyzing inputs and processes, thereby preventing errors proactively (Anthony & Govindarajan, 2007). Concurrent control operates during ongoing activities to ensure that operations align with goals in real-time, allowing immediate adjustments. Feedback control reviews outcomes after activities are completed, providing insights that inform future planning. Effective control systems enhance organizational efficiency, accountability, and strategic alignment (Simons, 1995).

Corporate governance refers to the systems, principles, and processes by which an organization is directed and controlled. It establishes a framework for decision-making, delineating responsibilities among stakeholders, including the board of directors, management, shareholders, and other parties. Good corporate governance ensures transparency, accountability, fairness, and ethical behavior, fostering trust among investors and other stakeholders. It is vital for minimizing risks, preventing corporate scandals, and promoting long-term sustainability. As Tricker (2019) notes, effective corporate governance mechanisms contribute to the alignment of interests among stakeholders and support sustainable value creation by regulating managerial actions and ensuring compliance with laws and regulations. Consequently, strong governance structures are essential for maintaining organizational integrity and securing stakeholder confidence.

References

• Anthony, R. N., & Govindarajan, V. (2007). Management Control Systems (12th ed.). McGraw-Hill Education.
• Cummings, T. G., & Worley, C. G. (2015). Organization Development and Change (10th ed.). Cengage Learning.
• Kotter, J. P. (1996). Leading Change. Harvard Business Review Press.
• Robbins, S. P., & Coulter, M. (2018). Management (13th ed.). Pearson.
• Simons, R. (1995). Levers of Control: How Managers Use Innovative Control Systems to Drive Strategic Renewal. Harvard Business School Press.
• Tricker, R. B. (2019). Corporate Governance: Principles, Policies, and Practices (3rd ed.). Oxford University Press.