After reading this article you will learn about:- 1. Meaning of Focus of Control 2. Features of Critical Points 3. Levels. Meaning of Focus of Control: Control is measuring actual performance, comparing it with standard performance, finding deviations and adopting measures to check the deviations. In a small organisation, managers can check every activity of members by adopting appropriate control [...]
After reading this article you will learn about:- 1. Meaning of 'Management by Exception' 2. Merits of 'Management by Exception' 3. Principles. Meaning of 'Management by Exception': Trying to control everything may end up in controlling nothing". Managers cannot control every organisational activity. This is neither desirable nor possible within the frame of time, money and resource constraints. If actual [...]
This article throws light upon the top six modern methods of control exercised in an organisation. The modern methods are: 1. Management Information System (MIS) 2. Management Audit 3. Responsibility Accounting 4. Network Techniques - PERT and CPM 5. Balanced Score Card 6. Ratio Analysis 7. Economic Value Added (EVA) 8. Market Value Added (MVA). Modern Method # 1. Management [...]