Chapter 8: Controlling
Part A: Principles and Functions of Management — Chapter 8: Controlling
Content Bank — Chapter 8 (Controlling)
- Meaning and importance of controlling
- Steps in controlling: setting standards, measuring performance, comparing and taking corrective action
- Types of control: preventive, concurrent (real-time) and feedback control
- Techniques of control: budgetary control, financial statements, ratio analysis, break-even analysis, statistical tools
- Management by exception, reporting systems, and human aspects of control
