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 [...]
This article provides an overview on Management Information System (MIS). Information System: It is a system which provides each manager in the organisation with the information he needs in order to take decisions, plan and control within his area of responsibility. Information system is an organised way of sending, receiving and recording messages. It includes both formal flow of information [...]
After reading this article you will learn about:- 1. Meaning of Control 2. Nature of Control 3. Principles 4. Factors 5. Aims 6. Benefits 7. Limitations. Meaning of Controlling: Controlling is one of the managerial functions and it is an important element of the management process. After the planning, organising, staffing and directing have been carried out, the final managerial [...]