Principles of Management

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Presentation transcript:

Principles of Management Controlling Objectives of Controlling Controlling Process Controlling Techniques www.mbainfoline.com

Controlling “It is the measurement and correction of performance in order to make sure that enterprise objectives and the plans devised to attain them are accomplished.”

Characteristics of Controlling It is a continuous process It is a management function It is exercised at all levels

Objectives of Controlling To ensure high efficiency of the business To understand what had happened and is happening, why and whom it happens To keep check over expenses To reframe organisational goals and objectives To find out deviations if any and opt for corrective action

Controlling Process Establishing standards Measurement of performance Comparison of actual with standard performance Finding out deviations Correction of deviations

Controlling Techniques Oldest Techniques: Budgeting Financial statement analysis Break-even analysis Newest Techniques: PERT and CPM HR accounting

Thank You