Effective Business Control: Features, Stages, and Areas
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Control Sense
Restricted: Process to verify objective achievement and expenditure.
Large: Organization-wide verification of quantitative and qualitative objective achievement.
General: Informal and technical process of monitoring and assessing cultural and human factors, etc.
Control Features
Economics: Control cost should not exceed the value controlled.
Operation: Control should be simple to apply.
Significance: Control should be located in key activities for optimal follow-up information.
Consistency: Control features must be compatible with the controlled activity.
Opportunity: Checks must be timely.
Stages of Administrative Control
- Setting parameters and methods for measuring performance (e.g., management approval with a score of 8).
- Performance measurement.