Professional Documents
Culture Documents
Dr. Kahtan Ismail Aziz
Dr. Kahtan Ismail Aziz
EEE 324
EEE 324
EEE 324
Closed Loop
Automatic or cybernetic
Monitors or manages process by internal, selfregulating system
Essential feature is strong feedback system
Example: Home thermostat system
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EEE 324
Open Loop
EEE 324
Effective
Efficient
Timely
Flexible
Understandable
Tailored
Highlight deviations
Lead to corrective actions
EEE 324
Financial
Human Resource
Social
EEE 324
EEE 324
Financial
Budgets: Identify
sources of cash and intended uses
Cash Budgets
Capital Expenditure Budgets
Balance Sheet Budget
EEE 324
Top Management
Middle Management
EEE 324
Balance Sheet
Income Statement
Cash Flow
EEE 324
Asset
Liability
Equity
Current ratio
Debt-to-equity ratio
EEE 324
EEE 324
EEE 324
EEE 324
EEE 324
EEE 324
Cost Centers
Revenue Center
Profit Center
EEE 324
EEE 324
Management Audits
Evaluate efficiency
Costs of recruiting
Costs of training
Costs of process improvement
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Social Controls
Standards
Comparison with outcomes
Corrective action
EEE 324
EEE 324