Control its Importance and Process Presented by Group

Control, its Importance and Process Presented by: - Group 8 Members: - Radhika Khemani (22) Abhishek Bhattacharjee (32) Bastab Chetia (35) Bidyut Chetia (36)

Contents Ø Introduction Ø Features Ø Limitations Ø Importance Ø Process Ø Conclusion Ø Bibliography

WHAT IS CONTROL? Ø Control is the last function of management. The controlling functions will be unnecessary to the management if other functions of management are performed properly. Ø Definition: - ‘Control is any process that guides activity towards some predetermined goals. ’ Control is a primary goal-oriented function of management in an organisation. It is a process of comparing the actual performance with the set standards of the company to ensure that activities are performed according to the plans and if not then taking corrective action.

Features OF CONTROL Ø Forward looking Ø Exist at all levels/universal Ø Continuous Activity Ø Dynamic process Ø An essence of action Ø Minimizes errors

CONTROL PROCESS q. A basic control process involves mainly these steps : 1. Establishment of Standards 2. Measurement of Performance 3. Compare Performances 4. Taking Corrective Actions

Ø Establishing standards: This means setting up of the target which needs to be achieved to meet organisational goals eventually. Standards indicate the criteria of performance. Control standards are categorized as quantitative and qualitative standards. Quantitative standards are expressed in terms of money. Qualitative standards, on the other hand, includes intangible items. Ø Measurement of actual performance: The actual performance of the employee is measured against the target. With the increasing levels of management, the measurement of performance becomes difficult.

• Comparison of actual performance with the standard: This compares the degree of difference between the actual performance and the standard. • Taking corrective actions: It is initiated by the manager who corrects any defects in actual performance. Controlling process thus regulates companies’ activities so that actual performance conforms to the standard plan. An effective control system enables managers to avoid circumstances which cause the company’s loss.

WHY CONTROL IS IMPORTANT? Ø Accomplishing Organisational Goals Ø Judging Accuracy of Standards Ø Making Efficient Use of Resources Ø Improving Employee Motivation Ø Ensuring Order and Discipline Ø Facilitating Coordination in Action

Limitations of control Ø Influence of External Factors Ø Expensive Ø Lack of Satisfactory Standards Ø Opposition from Subordinates

Conclusion • Controlling process thus regulates companies’ activities so that the actual performance conforms with the standard plan. An effective control system enables managers to avoid circumstances which cause the company loss. • Managers are critical to getting things done in organizations. • Manager coordinates and oversees the work of other people so that organizational goals can be accomplished. • The control function of management is the fundamental functions of management and very necessary to achieve the desired objectives of the organization efficiently. • It ensures that the organization is moving to the right

Bibliography • Wikipedia. org • Business Study Book By Poonam Gandhi • Principles of Business Management by R. K. Sharma and Shashi K. Gupta