BMGT364 UMUC Week 7 Control Function in a Business Setting Project

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Business Finance

Purpose

In this project, you will gain an understanding of the control function in a business setting. You will compare actual performance with standards, and measure the progress toward the organizational goals, addressing any deviations through corrective action.

Outcome Met by Completing This Assignment

  • develop measures and assess outcomes against plans and standards to improve organizational effectiveness

How to Set Up the Paper

Create a Word document that is double-spaced using 12-point font. The final product will be 2-3 pages in length excluding the title page and reference page. Write clearly and concisely.

Use Project 4 Template to complete this project.

Scenario

The following chart displays the results of the first year’s production of a new mini-car produced by GoFast Autos. The table was created from data supplied by the company’s entire production department managed by George Reeves, as a means of controlling production output. You recently joined the production department as a quality assurance associate after grading with a degree in business. Your manager, George has asked you to do an analysis on the first year’s production results. George indicated that this information will be used by the Vice President in his evaluation of areas of improvement, change, or processes used by the production department in the production of the mini-car. The company aims for the highest possible quality products for consumers.

The chart below describes the standard goal (identified as standard) set by the department and the results for each branch of GoFast Autos. A comparison of the standard to the results allows the reader to form conclusions about the success or failure of the production department to meet the goals envisioned by the company. It also allows the reader to recognize patterns from the data from which conclusions can be drawn as to the relationship between elements (e.g. cost expended vs time expended; those who spent more time had a higher cost).

Chart is attached (Measurable Factors.docx)

Weekly reading regarding Controling.

Please use Project 4 template.

4 or more APA references please.