Control Final Unit. Definition Control consists in verifying whether everything occurs in conformity with the plan adopted, the instructions issued and.

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Presentation transcript:

Control Final Unit

Definition Control consists in verifying whether everything occurs in conformity with the plan adopted, the instructions issued and principles established.

Characteristics of Control Managerial Function Forward Looking Continuous Activity Control is related to Planning Essence of Control is action

Steps in Controlling process There are four steps in the control process which are: Setting of Control standards Measurement of actual performance Comparing actual and Standard performance Taking Corrective action

Importance of Control Basis for Future Action Facilitates decision making Facilitates decentralization Facilitates coordination Helps in improving efficiency Psychological pressure

Techniques in Controlling Control techniques are broadly classified into: Budgetary Techniques: Planned for specific periods in numerical terms. The budget provides an order while controlling. Non- Budgetary Techniques: These include statistical data, special reports & analysis, operational audit and observations

Types of Budget Capital Expenditure Budget Cash Budget Time, Space & Materials Budget Production Budget Sales Budget Zero-Based Budgeting

Other Techniques Operations Research Techniques: The application of scientific/mathematical methods or techniques and tools to the solution of operating business problems of business system. PERT: is employed to calculate the total time required to complete a project and also identify the possible problems that may arise towards delay of the project completion.