Controlling: The concept, Process and Tools - Kickoffall Info Hub

Kickoffall Info Hub

Read Learn Grow

Monday, November 18, 2019

Controlling: The concept, Process and Tools

Controlling is the process of monitoring activities to ensure that they are being accomplished as planned and of correcting any significant deviations.
The Purpose of Control
The main purpose of controlling is to ensure that planning, organizing and directing activities are completed in ways that lead to the accomplishment of organizational goals.
The Process of Control
1. Measuring actual performance.
2. Comparing actual performance against a standard.
3. Taking action to correct deviations or inadequate standards.
Types of Control
1. Feedforward Control
2. Concurrent Control
3. Feedback Control
Factors of Control
Market Control: The control system which emphasizes the use of external market mechanisms such as price competition and relative market share, to establish the standards used in the control system.
Bureaucratic Control: The control system which emphasizes organizational authority and relies on rules, regulations, procedures, and policies.
Clan Control: The control system which regulates behavior by shared values, norms, traditions, rituals, and beliefs of the firm’s culture.
Tools for Controlling
1. Balanced Scorecard
It is a measurement tool that uses goals set by managers to measure a company’s performance.
2. Management Information Systems (MIS)
A system used to provide management with needed information on a regular basis.
3. Benchmark
The standard of excellence against which to measure and compare.

No comments:

Post a Comment