This article throws light upon the four main factors that will help in making control system effective in an organisation. The factors are: 1. Relating Controls to Meaningful and Accepted Goals 2. Set Tough but Attainable Pars 3. Limit the Number of Control 4. Emphasise Self-Adjustment. Factor # 1. Relating Controls to Meaningful and Accepted Goals: To be meaningful, a [...]
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 four most commonly calculated ratios. The ratios are: 1. Liquidity Ratios 2. Asset-Management Ratios 3. Debt Ratios 4. Profitability Ratios. Type # 1. Liquidity Ratios: Several liquidity ratios are used to learn how liquid (easily converted into cash) an organisation's assets are. These ratios measure the ability of the organisation to raise enough cash [...]