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1. Operating control System
Operating control involves checking on-going performance against the annual plans and taking corrective action when necessary. Its aim is to ensure that a company achieves its sales, profits and other goals set out in its annual plan. It also determines the profitability of different products, territories, markets and channels.
It also involves;
i) The control activity
ii) Target setting — this involves what the organization is aiming to achieve.
iii) Comparing performance with the standards- a comparator a means by which actual results of the systems are measured against predetermined plan or standard.
iv) An effector’s initiates control action — an effector’s may be a component in some automatic equipment, which regulates the functioning of the equipment.
v) Feedback — it is information produced from within the organization with the purpose of helping the management and employees with control decisions.
vi) Single loop feedback- results in the system behavior being altered to meet the plan.
vii) Double loop feedback —results in changes in the plan itself. 11 the system is to react to a changing environment, which it must do to survive then double ioop feedback is essential.
viii) Feed forward - based on company original target or actual results with the current forecast of future results- control action is taken in advance.
2. Strategic Controls
Strategies are forward looking. They move the organization into the future. It’s mainly concerned with whether the company’ s basic strategies are well matched to its opportunities. They are based on management assumptions about numerous events that have not yet occurred. The traditional methods of controlling strategy are compare actual against standard. After work is done, the manager evaluates it and then uses that evaluation as input to control further work.
The traditional method must be replaced by an approach that recognizes the unique control need of long-term strategies. Strategic Control is concerned with tracking a strategy, as it is being implementation, detecting problems or changes in underlying premises and making necessary adjustments.
The Control Process Managers are concerned with include;
i) Set goal — what do we want to achieve?
ii) Measure performance — What is happening or what is the performance?
iii) Evaluate performance — Why is it happening?
iv) Take corrective action — what should we do about it?
Titany answered the question on October 7, 2021 at 06:35
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