This article throws light upon the four main types of control techniques. The techniques are: 1. Operations Design 2. Operations Coordination 3. Quality Control 4. Inventory Control. Type # 1. Operations Design: Operations design is conceived with how work-related facilities (such as machines and jobs) are constructed, arranged and co-ordinated. Due to lack of space, a detailed discussion of the [...]
This article throws light upon the two main tools of financial control. The tools are: 1. Financial Audit 2. Financial Ratio. Tool # 1. Financial Audit: Another effective control technique is the use of audits, which seek to examine activities or records to verify their accuracy or effectiveness. Financial information is only as good as data and interpretation on which [...]
This article throws light upon the four most commonly calculated ratios. The ratios are: 1. Liquidity Ratios 2. Asset-Management Ratios 3. Debt Ratios 4. Profitability Ratios. Type # 1. Liquidity Ratios: Several liquidity ratios are used to learn how liquid (easily converted into cash) an organisation's assets are. These ratios measure the ability of the organisation to raise enough cash [...]