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timetable, and usually understood to have three components: (1) setting standards, (2)
measuring actual performance, and (3) taking corrective action.
A typical process for management control includes the following steps: (1) actual
performance is compared with planned performance, (2) the difference between the two
is measured, (3) causes contributing to the difference are identified, and (4) corrective
action is taken to eliminate or minimize the difference.
Meaning of Controlling:
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6. It is a Continuous Activity:
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Principles of Controlling:
1. Objectives:
The principles of interdependence states that more the plans are clear,
complete and integrated, and the more that controls are designed to
reflect such plans, the more effectively controls will serve the need of
managers.
3. Control Responsibility:
According to this principle, the primary responsibility for the exercise
of controls rests in the manager charged with the performance of the
particular plans involved.
5. Efficiency of Controls:
6. Future-oriented Controls:
7. Individuality of Controls:
1. Size of Business:
2. Uncertainty:
Control forms a basis for future action. Today’s world of rapid and
sometimes unpredictable changes makes the future very uncertain.
This makes planning very difficult. Hence, control points are
necessary to check the progress of activities and plans and make the
necessary and constructive adjustments so as to accommodate any
environmental changes.
3. Decentralization Trends:
Workers are happier when things are under control. People make
mistakes. Intuitive decisions can result in errors of judgments,
especially when there are so many variables involved. Such wrong
decisions can result in lowering of morale. Control techniques reduce
the chances of errors in judgment thus making the organisational
environment more stable. which is morale boosting.
Aims of Controlling:
8. To assess the cost of materials and labour used and ensure that
direct costs and indirect costs do not exceed the budget provisions.
9. To pinpoint the responsibility on individuals at different levels for
slackness, indifference, or negligence, if any in the expected levels of
performance.
10. To evaluate the value of the work performed and recognize the
contributions of the staff towards realisation of the goals of the
enterprise.
Benefits of Controlling:
Limitations of Controlling: