Controlling (Principles of Management Mod 5 SLP) Essay

Controlling (Principles of Management Mod 5 SLP) - Essay Example In controlling, equity bank applies action accountability that holds each employee accountable for their actions. Having trained employees on their responsibilities, each employee is left to act under minimal supervision keeping in mind that the outcome of his/her action has either a positive or negative implication on his/her performance record. Operating in a very competitive industry, Equity Bank’s management uses controlling as business strength so as to move ahead of its competitors (Alembi, 2009), who seem to have similar strategic plans. As a matter of fact, all financial organizations in the region have almost equal capacities to acquire employees, resources and mobilize their clients. However, through action accountability, equity bank has managed to rapidly grow relative to other financial institutions. In implementing this control effort, the management allows for both internal and external control of their employees. Through internal control, the management relies on employees, especially heads of various departments but not restricting the lower class employees, to exercise self-control. In fact, the employees who are preliminarily motivate by the fact that they will be rewarded for extra ordinarily good performance, are allowed to fulfill their job expectations by their own will and procedures. Moreover, equity bank provides their employees with sufficient resources and clear performance objectives that enable them deal with millions of clients to whom they have to attend to. In addition to self-control, each employee is answerable to an administrator who minimally supervises him, and is linked with performance appraisal system and employee discipline system that reward or punish extreme cases of performance respectively. However, although there are rewards and punishments, the firm capitalizes on always correcting its employees in efforts to improving individual performance in