This article throws light upon the top six traditional techniques of control exercised in an organisation. The traditional techniques are: 1. Personal Observation 2. Budgetary Control 3. Break-Even Analysis 4. Financial Statements 5. Statistical Data and Reports 6. Quality Control. Traditional Technique # 1. Personal Observation: This is the simplest way to control organisational activities where managers take rounds at [...]
This article throws light upon the top two methods of quality control. The methods are: 1. Inspection 2. Statistical Quality Control (SQC). Method # 1. Inspection: Inspection means checking the product through visual or testing examination, at the input stage, transformation stage or output stage, against standards. The task of carrying out inspection is inspection function and the people who [...]
After reading this article you will learn about the benefits and limitations of budgeting. Benefits of Budgeting: Budgeting assists managers at all levels in carrying out planned activities. It has the following benefits: (a) Standards of performance: Budgets provide standards of performance for various periods and sub-periods, Actual performance can be compared against standards at frequent time intervals and timely [...]