This article throws light upon the three main aids used in managerial control. The aids are: 1. Management by Exception (MBE) 2. Management Information Systems (MIS) 3. Key Indicator Management. Aid # 1. Management by Exception (MBE): Management by exception, or the exception principle enables managers to direct attention to the most critical areas of control and permits employees or [...]
This article throws light upon the four main types of control techniques. The techniques are: 1. Operations Design 2. Operations Coordination 3. Quality Control 4. Inventory Control. Type # 1. Operations Design: Operations design is conceived with how work-related facilities (such as machines and jobs) are constructed, arranged and co-ordinated. Due to lack of space, a detailed discussion of the [...]
This article throws light upon the two main tools of financial control. The tools are: 1. Financial Audit 2. Financial Ratio. Tool # 1. Financial Audit: Another effective control technique is the use of audits, which seek to examine activities or records to verify their accuracy or effectiveness. Financial information is only as good as data and interpretation on which [...]