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Example research essay topic: Management Control 5 Billion - 804 words

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Controlling Effective controlling management technique is crucial to the success of any business. Figuring out how to maintain performance at planned levels down to make a company stronger are just a few areas that any company concerns itself with on daily basis. Controlling function is also called a performance management. Controlling consists of several basic steps, which are aimed to establish performance standards. Although some people believe that controlling management process refers to working with controlling functions only, controlling also assumes such duties as measuring and reporting actual performance, companys objectives, comparing and undertaking certain measures to improve the situation if necessary, and managing effective relationships in terms of getting the best deals with stores to deliver the lowest value to consumer while keeping labor costs down.

Overall, being effective at management control strategies will not only generate more profits for the company, it will also allow the company to establish itself as a productive, effective, and well-organized enterprise that is determined to satisfy consumer needs, while not sacrificing its welfare. The function of control management is actually consists of - Evaluating component. While assessing evaluating component, the manager compares actual result with planned result. He monitors a list of activities and planned actions as well as an inventory of critical systems. Besides, the standard of established performance is used for each activity monitored by the manager. All these steps are the part of planning function. - Correcting.

This step means undertaking necessary measures to assure that planned results correspond to the actual results. Controlling is applied to organizational design, to planning, to employee performance, among many other functions. A $ 60 billion-a-year Nestle corporation, the world's biggest food company, with some 8, 000 brands ranging from Nescafe instant coffee to Purina pet food to Kit Kat candy bars (Matlack 56), insisted that the robust sales growth was its top priority. As a result, the companys operating margins have trailed those at rivals such as Unilever, Group Danone, and Kraft Foods by as much as 50 % (Matlack 56). Mr.

Brabeck managed to undertake series of management activities that delivered delivered more than $ 1. 5 billion in cost savings by streamlining and integrating the far-flung Nestle operations, while pushing the company toward business lines that yield wider margins (Matlack 56). All these strategies took place in the past two years and resulted in drastic changes. For example, First-half operating profits rose to $ 3. 7 billion, 15 % more than the same period in 2002. and operating margins reached 12. 3 % (Matlack 56). Mr.

Brabeck plans to deliver considerable cost cut (appr. $ 2. 5 billion) over the next three years. His main idea is to use control management technique and, namely, to gain control of the company's decentralized structure, in which country managers have traditionally been given wide leeway on everything from purchasing to capital investment (Matlack 57). Such arrangement has helped Nestle on the marketing side, because local managers can experiment with packaging, flavoring and portion size to satisfy the local customers demands. However, from an efficiency standpoint such idea is not so good. As it is claimed by internal reviews, the managers often order non-identical grades of sugar, making it almost impossible for bosses at headquarters to track costs (Matlack 57).

Besides, Brabeck did away with country-by-country responsibility for many functions (Matlack 57). Some of measures he undertook to maintain effective management control strategies were: establishing several centers worldwide to handle most coffee and cocoa purchasing (Matlack 57) and overhauling the information-technology systems at Nestle to give management the data it needs to compare the performance of units worldwide and identify those needing a tune-up (Matlack 58). Besides, he introduced new technique, according to which managers bonuses are linked to improvements in profit margins. He made all efforts to assure more effective use of technology and manpower.

At the same time, Brabeck has pushed Nestle into new, higher-margin businesses. (Matlack 58). For example, it helped to introduce new products such as Nesvital and Inner, which also made its contribution to the future profitability of the company. Besides, Brabeck considers that Nestle can improve performance while maintaining a large and diverse portfolio and is not going to refuse from introduction of new brands, in contrast to other food giants such as Unielever and Mars Corporation. All these facts support my opinion that Nestle is very effective in controlling management strategies, which allow the company to reach success. Besides, most analysts also expect Nestle profits to top 13 % next year, as the global economy starts to recover and Brabeck's cost-cutting measures bear more fruit. (Matlack 58). Bibliography: Matlack, C.

NESTLE IS STARTING TO SLIM DOWN AT LAST! But can the world's No. 1 food colossus fatten up its profits as it slashes costs? Business Week, October 27, 2003, Issue 3855


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Research essay sample on Management Control 5 Billion

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