This article throws light upon the three important key functions of organisational control process. The functions are: 1. Financial Control 2. Inventory Control 3. Quality Control. Function # 1. Financial Control: Financial controls are important for various reasons. The most important reason is that financial data are the index of a firm's success and prestige. Financial results give a broad [...]
This article throws light upon the four main factors that will help in making control system effective in an organisation. The factors are: 1. Relating Controls to Meaningful and Accepted Goals 2. Set Tough but Attainable Pars 3. Limit the Number of Control 4. Emphasise Self-Adjustment. Factor # 1. Relating Controls to Meaningful and Accepted Goals: To be meaningful, a [...]
This article throws light upon the three key benefits of exercising control in an organisation. The benefits are: 1. Changing Circumstances 2. Compounding of Errors 3. Organisational Complexity. Benefit # 1. Changing Circumstances: In today's highly complex and turbulent environment, all business organisations must find ways of coping with change. If managers could set goals and achieve them in no [...]