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Fundamentals of Controlling (Why is controlling needed (adapt to…
Fundamentals of Controlling
monitoring performance,comparing with goals and taking corrective actions
Why is controlling needed
adapt to change/uncertainty
detect irregularities/errors
reduce cost,increase productivity/adding value
identifying opportunities
dealing with complexities
decentralising decision making and facilitating teamwork
Levels of control
strategic
tactical
operational
Scope of control
physical resource
human resource
information resource
financial resource
Timing controls
feedforward
concurrent
feedback
Styles of control
traditional
rules/procedures
hierarchy of authority
management control system
technology
decentralised
corporate culture
peer grp
self control
technology
Controlling process
establish perf standards
measure perf
compare perf with standards
taking corrective action