chapter  15
22 Pages

MANAGEMENT CONTROL

This chapter begins by considering some of the benefits of effective management control. It then introduces the ‘control loop’ – the idea that control is a cyclical process of setting standards, measuring performance, comparing performance with the standards and taking corrective action if necessary. We then look at some of the issues in measuring and comparing, and at the different ways in which control can be exercised. We conclude by focusing on how corrective action can be taken to ensure that standards and objectives are achieved.