Management Planning and Controlling

In: Business and Management

Submitted By andyyzl
Words 653
Pages 3
Bellagio Casino and Resort
1. Briefly describe the objective(s), strategy and control problems faced in the organization. Bellagio Casino and Resort has its own challenges within the establishment of gaming, entertainment, conference, dining and accommodation products. One of its main objectives is to capture the high-end luxury clients who are looking for a holiday outing and features. These clients are out to spend, and this poses a great opportunity for Bellagio's strategy. Bellagio strategy focuses on diversification of the corporate business investing in a wide range of luxury products. The business unit competitive strategy design allows for low-cost pricing of the products and prices, presenting a competitive edge over the rest of the similar organizations. Some of the control problems that affect Bellagio are the pace of technological advancements in the entertainment and gaming industry. (Askew, 2011) The control challenges that face the organization include the political and economical climate within the local and international industry. Similar companies are venturing into the business posing the risk of completion within the market for suppliers, customers, and regulators. Bellagio faces the risk of high uncertainty in the casino business, and it is quite difficult to predict the optimal targets.
[pic]
Figure: Bellagio Casino and Resort Corporate Diversification Strategy

2. Describe contingent factors (as discussed in seminar 12) that are relevant in the determination of the Management Control System choices at the Bellagio

In the case of Bellagio Casino and Resort, the three main contingent factors in the determination of the Management Control System alternatives are discussed below;
Organizational factors: By analyzing the organizational factors, some of the risks that determine the Management Control System include the business risk…...

Similar Documents

Management Planning

...well as gas in the US. The company be situated both registered with London’s Stock Trade primarily with minor list with New York Stock Exchange. In British Petroleum planning is critical and it helps the company to forecast the future as well as chalk out actions to be taken. Planning can be viewed as a preparatory step that determines when, how as well as who is going to perform a specific job Internal and external factors in management of British Petroleum Company The British Company has several internal factors that can be corrected within these categories that can drive the company to its success; on the other hand they also come with external factors that are further than the company’s control. During planning the BP oil companies as well as the management has to plan adequately to cater for the unexpected oil spills that frequently hit the company having a negative impact on the company’s profit (Harry 2013). Thus is because every now and then the company may experience unexpected oil spills that will require the company to change its original plan. For that reason the company management must invest heavily on technology as well as innovation to be able to detect any oil spill that may occur and take the right corrective measure to avoid any loss of life as well as severe environmental damage. The management of BP has to also plan against the unpredictable natural calamities, such as floods which can cause oil burst and affect the flow of the plan. Other factors......

Words: 988 - Pages: 4

Management-Controlling Function

...Introduction Once managers assume responsibilities for their units, they decide “where they are going” (Planning), who will do what (Organizing), and how to motivate their employees (Leading). In this presentation, we are going to explore how to keep things under control in an organization. It is imperative that all managers should be involved in the control function even if their units are performing as planned. Managers can't really know whether their units are performing properly until they have evaluated what activities have been done and have compared the actual performance with the desired standard. An effective control system ensures that activities are completed in ways that lead to attainment of the organization’s goals. Controlling is related to each of the other function management. Controlling builds on planning, organizing and leading. What is Control? Control is the task of ensuring that activities are carried out and are providing the desired results. In simple terms controlling means setting a target, measuring performance and taking corrective actions required. Management Control Strategy Managers can use one or a combination of three control or styles: 1. Market 2. Bureaucracy and 3. Clan Each strategy serves a different purpose. Market: Uses external market mechanisms, such as price competition and relative market share, to establish standards used in system. Bureaucracy: It emphasizes organizational authority and relies on......

Words: 916 - Pages: 4

Project Management: a System Approach to Planning, Scheduling, and Controlling

...Learning Legacy’s ‘goldmine of knowledge’ 知识的金矿kept by Cabinet Office内阁办公室 The future of an innovative industry resource designed to ensure that the lessons from the successful London 2012 construction programme are retained for other projects has been guaranteed. ODA的作用 The Olympic Delivery Authority’s (ODA) Learning Legacy website is packed with case studies and reports based around ten themes, promoting successes in areas including health and safety, sustainability, procurement, transport and project management. It comprises more than 300 papers put together by the ODA and its supply chain of companies from all over the UK, along with contributions from independent industry bodies and academics.  When launched late last year, it marked the first time that a construction project in the UK had sought to capture knowledge on this scale. So far the website has been used by almost 43,000 people – with 35 per cent of visits coming from overseas. 网站赞助 Now the website will continue under the auspices of the Major Projects Authority (MPA), a partnership of the Cabinet Office, HM Treasury and other Departments with the aim of improving the delivery success rate of significant projects across central Government. 网站搬家 The relocation of the Learning Legacy website to a new permanent home from November fulfils a recommendation made by ODA Chairman Sir John Armitt in his report on London 2012’s business benefits, published before the Games began. 网站目的-保留经验 ODA director of......

Words: 2183 - Pages: 9

Controlling- a Management Guide

...company and specifically address planning, organizing, leadership, control and the external environment. Section1 - The External Environment As a manager at Just Web Inc you will play an important role in assessing the external environment. It will be important for you to understand your role in the customer’s needs through these assessments. Theses assessments will give you a baseline to start all projects as well as recognize a need for change prior to losing market share to other ISP’s. It is written “that to remain competitive they must explicitly manage their intellectual resources and capabilities” (Zack,N.D.) At Just Web Inc we will periodically assess the external environment to stay relevant in our business plan, structure, and methodology. To complete these periodic assessments we will use the strategic management process. This process is a six step process that you will use to identify goals, complete external and internal (SWOT) analysis, formulate a strategy, implement strategies, and then evaluate the results (Robbins & Coulter, 2009). Once this plan is developed it will give a path or process for the analysis, formulation, and implementation of our plan. After that I complete it provides us with the opportunity to assess our results. This is an excellent time to involve employees so that they can participate in the change. Section 2 – Planning As a manager at Just Web Inc, you will be responsible for planning in your department. Depending......

Words: 966 - Pages: 4

Management and Planning

...1.0 INTRODUCTION : 1.1 Definition Terry has defined planning in terms of future course of action. He says that: “Planning is the selection and relating of facts and making and using of assumptions regarding the future in the visualization and formalization of proposed activities believed necessary to achieve desired result”. A plan is a blueprint for goal achievement that specifies the necessary resource allocations, schedules, tasks, and other actions. A goal is a desired future state that the organization attempts to realize. Goals are important because an organization exists for a purpose, and goals define and state that purpose. Goals specify future ends; plans specify today's means. The word planning incorporates both ideas: It means determining the organization's goals and defining the means for achieving them. Planning allows managers the opportunity to adjust to the environment instead of merely reacting to it. Planning increases the possibility of survival in business by actively anticipating and managing the risks that may occur in the future. In short, planning is preparing for tomorrow, today. It's the activity that allows managers to determine what they want and how they will achieve it. Not only does planning provide direction and a unity of purpose for organizations, it also answers six basic questions in regard to any activity: • • • • What needs to be accomplished? When is the deadline? Where will this be done? Who will be responsible for......

Words: 3817 - Pages: 16

Samsung Controlling Management

...Controlling Sustainability is important to every company to continue their business. Samsung Electronics has established a lot of methods since in order to maintain accomplishment in the electronics industry in this technology competition era. Commitment to Human Resources “A Company is Its People”, was one of the management philosophies of the late founding Chairman Byung-Chull Lee. Attracting and developing the best people is an advantageous position for Samsung in an era of technology competition by recruiting highest-quality personal from all around the world regardless of nationality. To make it effective Samsung provides early career-development programs for individuals who have talent and heed ability. Green Management Samsung Electronics is carry out green management practices by analyzing the impact make on the environment and accessing management risks related with those impacts. The strategies they take in green management are Green buildings, Eco-Products, chemical management in their products, take back and recycling, waste management, Green purchasing to promote purchasing of eco-friendly products, Green Communication and etcetera. To ensure the strategies are applied, the company had built a min-term target named Eco-Management 2013. Achieve 50% in lowering greenhouse gas emissions relative to sales from year 2008, and designing all products as Eco-Products, are the main objectives to achieve target. Creative Organizational Culture Employees play......

Words: 713 - Pages: 3

Management Planning

...Functions of Management; Planning, Organizing, Leading, and Controlling Matthew Spellacy John H. Quesnel MSM, PMP Management: Theory, Practice and Application MGT/330 October 14, 2008 Planning is the foundation of management and it is the primary base of how the following areas should be implemented. Planning requires the leaders to determine a few things; where the company is at right now and how they are going to improve it in the future. Based on the current position of a company, it may have to change or alter its current state or process of operating to achieve the positive results all businesses strive for. For this kind of preparation, the process can be determined as strategic planning. In strategic planning, management analyzes inside and outside factors that may affect the company (Barrett 2003). The company should study the strengths, weaknesses, opportunities and threats. In order for management to do this correctly, it has to be very practical and motivated. The second primary function of management is to get prepared and get organized. Management must organize all of its resources before to put into practice the course of action to decide that has been planned in the base function. Through this process, management will now determine the inside directorial configuration; establish and maintain relationships, and also assign required resources. While determining the inside directorial configuration, management ought to......

Words: 753 - Pages: 4

Planning and Controlling

...Executive summary This report is conducted in the purpose of determining how the proper used of planning and motivating function can help managers on overcoming financial uncertainty in the external environment which in this case is increased oil price resulted from devaluation of dollar currency in order not to harm the Lamborghini’s company. Lamborghini’s company have decided to overcome the problem by creating and launching new product line of Lamborghini’s car in order them to keep the harm of increased oil price away as it has been known to be decreasing the demand for Lamborghini’s car. The purpose of this report is to adopt and discuss the management functions which are planning and leading in the sake of overcoming the problem stated with the aid of relevant academic journal. The result of discussing this report that it will reliably solving the problem by applying proper planning and leading. The use of strategic management process help the manager of Lamborghini’s company able to deal with the problem as applying growth strategy to produce hybrid car for Lamborghini as their new product line will increase fuel efficiency which finally leads demand for Lamborghini’s product increase during increased oil price. Additionally, in the process of producing and launching the hybrid car, the application of leading functions such as empowerment leadership, Maslow’s hierarchy needs theory, goal setting theory and job enlargement design job will definitely help, motivate,......

Words: 298 - Pages: 2

Planning and Management

...Course: Planning and Management Date: February 24, 2010 Theories of Management Historical forces influencing the practice of management With the emergence and evolution of large scale business at the dawn of the twentieth century, theorists and managers took interest and focused on how businesses should be operated. The first important ideas to arise are known today as the classical management perspective. The classical management perspective consists of two distinct categories; scientific management and administrative management. Scientific management was developed as a response to productivity problems faced by businesses in the early nineteen hundreds. Businesses were expanding and there was sufficient capital but the labour needed was in short supply. The scientific management theory focuses on finding ways to improve the efficiency of individual workers to compensate for the shortage in supply. The major contributors to this management strategy were Frederick Taylor (1856-1915) as well as Frank Gilbreth, Lillian Gilbreth (1878-1972), Henry Grantt (1861-1919), and Harrington Emerson (1853-1931). Administrative management focuses on managing the organization as a whole. The primary contributors to this theory were Henri Fayol (1841-1925), Lyndall Urwick (1891-1983), Max Weber (1864-1920), and Chester Barnard (1886-1961). Henri Fayol, a French Industrialist and administrative management’s most articulate spokesperson, attempted to systematize the practice of......

Words: 253 - Pages: 2

Controlling Management

...intelligence, imagination, and energy of a large segment of the present college-age generation. 3. Suggest a solution, make a recommendation, or call for action In short, it is clear that the present system of higher education is in trouble. For many students, four years of college is no longer possible because of increasing costs and decreasing financial aid. To reverse this trend, we must demand that government increase its financial support of colleges and universities and restore financial aid programs. Our future depends on it. Task 1. First read the following essay plans on the next page (Only the introductory paragraph and ideas for the body paragraphs are given.) 2. Next write a concluding paragraph for each essay. # 1 Controlling Stress Introduction The busy schedules that most adults face every day have created a growing health problem in the modern world. Stress affects almost everyone, from the highly pressured executive to the busy homemaker or student. It can cause a variety of physical problems ranging from headaches to stomach ulcers and even alcoholism. Stress, like the common cold, is a problem that cannot be cured; however, it can be controlled. A person can learn to control stress in four ways. Ideas for Body Paragraphs A. Set realistic goals B. Take up a hobby C. Exercise regularly D. Maintain close relationships with family and......

Words: 590 - Pages: 3

Management Planning

...Management Planning There is no larger aerospace company in the world than Boeing. With over 160,000 employees spread across the world in 70 countries, Boeing needs to have an accurate set of functions and a very thoroughly thought out management plan. Boeing makes advanced communication and information systems, military, as well as commercial air craft, provides NASA with launch vehicles and satellites. Boeing also worked with Lockheed Martin on building and maintaining the Space Shuttle since 1981. This partnership between Lockheed Martin and Boeing is called The United States Alliance. Boeings leaders created tactical, operational, and strategic plans that help them define and accomplish the goals they set. The factors that influence the operational, strategic, tactical, and contingency planning are issues that come from their ethical, social, and legal responsibilities. It is in this planning that a complex design that has to obey regulations, social influences, and laws while seeking a profitable operation. Management Planning With the ensuing difficulty of the 9/11 attacks in 2001, many people were questioning airline safety, safety in general in the skies, and aircraft sales. Boeing’s management had to reevaluate their business plan and rethink goals to face a new market place that had changed forever. Despite few vendors making aircraft, and with an ever-changing economic environment, Boeing had to change to keep up and to be successful. Management structure......

Words: 1148 - Pages: 5

Management Controlling

...How to achieve an effective controlling in an organization By the late 1970s, a successful economic reform program launched in China, many enterprise grasped this opportunity and enjoy a huge achievement during this rare reformation. While the market transferred to a developed market economic, however, enterprise faced more challenges than the past and earning quick profit seems to be more difficult. Ultimately, many of these enterprises shut down due to own ineffective controlling process, failing in the tougher market. It is come to an agreement that in a mature market, the crucial factor that whether a competitive enterprise enables to settle in the market is determined by the effectiveness of both its internal and external controlling. Controlling is the process of assigning, regulating resources and comparing work performance in order to do better correction to accomplish the organization’s goals. It makes plans effective and make sure that organizational activities are consistent, which plays a significantly decisive factor of the organizational performance nowadays. Former studies have gone into the details of an specialized sides of the controlling process, and these studies is limited to the description and analyze of the practice controlling cases. This essay will discuss how to achieve an effective organizational control from the three interdependent and integrated factors: the organizational system, culture and the correction process. First, I will......

Words: 2167 - Pages: 9

Planning and Controlling

...marketing only with respect to the objectives of the marketer and his or her organization. Social marketing seeks to influence social behaviors not to benefit the marketer, but to benefit the target audience and the general society." This technique has been used extensively in international health programs, especially for contraceptives and oral rehydration therapy (ORT), and is being used with more frequency in the United States for such diverse topics as drug abuse, heart disease and organ donation. Like commercial marketing, the primary focus is on the consumer--on learning what people want and need rather than trying to persuade them to buy what we happen to be producing. Marketing talks to the consumer, not about the product. The planning process takes this consumer focus into account by addressing the elements of the "marketing mix." This refers to decisions about 1) the conception of a Product, 2) Price, 3) distribution (Place), and 4) Promotion. These are often called the "Four Ps" of marketing. Social marketing also adds a few more "P's." At the end is an example of the marketing mix. Product The social marketing "product" is not necessarily a physical offering. A continuum of products exists, ranging from tangible, physical products (e.g., condoms), to services (e.g., medical exams), practices (e.g., breastfeeding, ORT or eating a heart-healthy diet) and finally, more intangible ideas (e.g., environmental protection). In order to have a viable product, people......

Words: 1461 - Pages: 6

Management Planning

...Planning in the business world is the same as anywhere else. In order to deliver the best possible scenario, or plan, there has to be a collective of data, a reviewing process, organization, as well as a decision making process. These steps relate directly to the planning process that is used in the business world today. For the business, this planning process has to start with a goal. Once the goal or goals are established the planning process can begin. The planning process sets forth a strategy for a given amount of time to achieve the businesses goal. As this process begins, the four functions of management come into play. • In order to execute the strategy at hand to achieve the goals. • Managers must formulate their plan for their workers, organize their employees based on talents to achieve the goal. • Set the plan in motion through leading the employees, motivating them, as well as keeping the line of communication open. • Controlling their employees through controlling and managing change, and managing technology and innovation. Many factors can influence the need of change to the management structure of a company. For a company like BP, there had to be a descent change when the company went through recent events. The oil spill caused legal issues, which lead to the company having to reevaluate their management strategy to take care of the issues. They had to come up with solutions that were both ethical and attainable through the company’s leadership. With...

Words: 353 - Pages: 2

Planning and Controlling

...LESSON 8 PRODUCTION PLANNING AND CONTROL Abha Kumar STRUCTURE 8.0 8.1 8.2 8.3 8.4 Introduction Objectives Production management Product design Design of production system 8.4.1 Types of production system 8.5 Manufacturing process 8.5.1 Types of manufacturing process 8.5.2 Factors affecting the choice of manufacturing process 8.6 Production planning and control 8.6.1 Benefits to small entrepreneur 8.6.2 Steps of production planning and control 8.7 Summary 8.8 Glossary 8.9 Self-Assessment Questions 8.10 Further Readings 8.0 INTRODUCTION After taking decisions about the type of business, its location, layout etc. the entrepreneur steps into the shoe of production manager and attempts to apply managerial principles to the production function in an enterprise. Production is a process whereby raw material is converted into semi finished products and thereby adds to the value of utility of products, which can be measured as the difference between the value of inputs and value of outputs. Production function encompasses the activities of procurement, allocation and utilization of resources. The main objective of production function is to produce the goods and services demanded by the customers in the most efficient and economical way. Therefore efficient management of the production function is of utmost importance in order to achieve this objective. 114 8.1 OBJECTIVES After studying this lesson, you should be able to • • • • • • • Describe the production function......

Words: 3614 - Pages: 15