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FUNDAMENTALS OF CONTROL
In management parlance, 'control' traditionally refers to the
activities of establishing standards of performance, evaluating actual
performance against these standards, and implementing corrective
actions to accomplish organizational objectives. In the complex and
extremely dynamic modern business environment, management control
systems are useful in fulfilling the needs of effectiveness, efficiency, and
adaptive learning. Management control is broadly concerned with the
attainment of goals and implementation of strategies.
WHAT IS CONTROL
Control
Any process that directs the activities of individuals toward the
achievement of organizational goals
The process of measuring performance and taking action to ensure
desired results
Ensures that the right things happen, in the right way, at the right time
TYPES OF CONTROL