Assignment:
Systems consist of parts or elements that are interconnected resulting in a whole that produces a unique behavioural pattern over time (Meadows, 2008).
Management systems have three basic components which include planning, controlling and feedback that are indeed interrelated. Theses components are developed to maintain the company's success and competence in attaining its primary goals and objectives that has been set. According to Business Dictionary, management systems is a documented and tested step by step method aimed at smooth functioning through standard practices.
The planning stage of a company is where goals and objectives are set. It is the first step of the management process. When following a plan, it is easy to see how much you have advanced towards your specific goals and objectives. It is one of the most significant project management and time management techniques which involve preparing a series of action steps to achieve some specific goal. Knowing where you are is essential for making good decisions on where to go or what to do next. It is like a map, if you do it well, you can reduce time and effort of achieving those goals. Most times, planning takes the form of a budget. In planning, working with a budget is very important, as it is easy for both management and their employees to ensure that their assets are properly maintained and managed. Planning and budgeting allows the company to foresee and organize for the future. Planning is also essential for meeting your needs during each step with your time, money, or other resources. With careful planning, you can foresee a problem. It can be adjusted at any point to avoid crisis. As you plan, those plans must be put into action and properly monitored by proper control of the business. These plans will also need to be reported for proper up keeping of the business. For example, a proper market survey should be completed so as to determine the need for that company's goods or services in which they would be offering, after such is done, controlling of the stocks as well as the day to day running and accounts is also as important. With that being done, feedback will be easy to report to management. In any business there must be proper planning in order to get that business off the ground.
According to Kalpana (2017), controlling is an important management system component, in which all managers are required to perform in order to contribute towards the achievement of the organizations objectives. It is the process of monitoring performance and taking action to ensure desired results. It sees to it that the right things happen, in the right ways, and at the right time. The controlling role compares the actual performance with predetermined standards, finds out differences and attempts to take remedial measures. Moreover, this process helps in the formulation of future plans, thus helps in bringing the management cycle back to planning. Controlling in a company has many advantages as follows:
1) If done well, it ensures that the overall command of individuals and groups are consistent with short and long range plans;
2) It helps to ensure that the goals and objectives are consistent with one another;
3) It helps maintain compliance with essential organizational rules and policies;
4) It makes efficient use of resources;
5) Improves employee motivation;
6) Ensures order and discipline and;
7) Facilitates coordination.
Feedback is very essential to the development of any business, whether positive or negative. The term ‘feedback' is used to describe the helpful information or criticism about prior action or behaviour from an individual, communicated to another individual (or a group) who can use that information to adjust and improve current and future actions and behaviours. It is valuable information that will be used to make important decisions and can be in the form of reports that can tell the progress of a company with recommendations and or suggestions to improve or enhance the smooth flow of the operation of that company. For example, ‘customer feedback' is the buyers' reaction to a company's products, services, or policies; and 'employee performance feedback' is the employees' reaction to feedback from their manager, the exchange of information involves both performance expected and performance exhibited. Feedback and opportunities to use it helps to develop and boost, whether an individual, group, business, company, or organization etc. and that information can be used to make better informed decisions. It also allows us to build and maintain communication with others. Feedback is a true spotlight across the entire business, customers, clients, employees, suppliers, vendors, and stakeholders.
Finally, with the information presented, it is reasonable to say that the three management systems planning, controlling and feedback are interconnected in every aspect and each other cannot function effectively without the other. It's like a building block. As you plan in the primary stage, you must execute some control method in order to accomplish the goals and objectives as set in the planning stage, with feedback, it helps management to decide on the future of the organisation and plan accordingly from such.
Is this findings correct or incorrect?
Can any additional details be added to this findings?
If yes, Please do so.