Unit 5: Controlling Flashcards
most important function in an organization
CONTROLLING
3 types of controlling
Feedforward
Concurrent
Feedback
identify and prevent deviations before they occur
feedforward control
monitor ongoing employee activity
concurrent control
reviewing information to determine whether performance meets standard
feedback control
steps of controlling
set standards
measure performance
compare performance to standards
determine reason for deviation
take corrective action
process of determining that everything is going to plan
controlling
examination and verification of records and supporting documents
audits
2 traditional control techniques
budget audit
performance audit
where the organization is in respect to what was planned and budgeted for
budget audit
determine wheþher figures reported are reflective of actual performance
performance audit
requirements of adequate controls
- reflect nature and needs of activity
- report deviants promptlt
- forward looking
- pont exceptions as strategic points
- objective
- flexible
- reflect organization pattern
- economical
- understandable
- indicate corrective action
is art and science
management
output, results and their outcomes obtained from processes, products, and services
erformance
numerical information that quantifies input output and performance
measurement
