Experts in the management discipline define control as the process of getting feedback about business operations in order to ensure that the set standards are being met, and if they are not, then management takes the necessary actions to address the identified deficiencies. Control involves the comparison of business performance against the set standards and objectives in order to identify weaknesses, rectify them and enact measures to prevent their recurrence.Continue Reading
One core element of a control system is the condition being controlled, which is the characteristic to be measured, because there is a relationship between it and the performance of the operating system. Next is the sensor, which is put in place to measure the selected characteristic, while the comparator determines whether what has been measured is consistent with the plan; it is common to have variations that are within acceptable limits. If the deviation exceeds or is below the accepted range, the activator takes corrective actions to return the system to its expected output, which completes the control function.
In a business setting, the most common control techniques are performance and budget audits, which involve the verification of business records and other documents that indicate how a business is doing both financially and in terms of other procedures, such as compliance, service delivery, production activities and other business operations.Learn more about Managing a Business