After reading this article you will learn about:- 1. Importance of Control 2. Fundamentals of Control 3. Focus 4. Types. Importance of Control: Controlling is the last of the five functions of management. It is considered last, not because it is less important than the other four functions: planning, organizing, staffing and leading but because it affects and is affected [...]
There is a very close link between planning and controlling. This is shown in Fig. 17.2. This is usually the first part of the management process. In the next stage, the organising and leading functions get the actual work of the organisation done, and the controlling function is directly tied back into planning. Fig 17.2 : The Link Between Planning [...]
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 [...]