- Applicability: A solid control system should be tailored to the nature and needs of the activity being monitored.
- Timeliness: Deviations should be detected and reported as soon as possible, if not before they occur. Only by promptly reporting irregularities and their reasons can timely corrective action be taken.
- Forward-Looking: A sound control system should allow for the possibility of deviations occurring again.Therefore, it should enable the manager to plan and think forward.
- Exceptional Control: A control system should focus on critical variances rather than just pointing out deviations.It should concentrate on the strategic locations or important places where immediate control action is required.
- Objectivity: Performance standards and measurements should be objective, verifiable, and specific to the greatest extent possible.Control should be reasonable and workable if it is based on facts and participation.
- Adaptability: The control system should be adaptable enough to accommodate changes in needs and conditions. It should continue to function even if the plans change or fail miserably.
- Controls must be cost-effective: A small business cannot afford the complex management system of a large corporation. Therefore, the benefits of the control system should justify the expense of installation and maintenance.
- Ease of Use: The control system should be straightforward to use.When everyone understands a control system, it can work successfully.Conversely, controls that are overly complex and elaborate are often ineffectual.
- Speculative: A sound system should advise the appropriate course of action. It should detect failures and reveal where they occur, who is responsible for them, and what should be done in response.
OVERVIEW OF MANAGEMENT
Definition and importance of management
Functions of management
Managerial roles
Evolution of management thought
Types of management environment
0/6
PLANNING FUNCTION
Meaning and importance of planning
Principles of planning
Purpose of planning
Types of plans
Planning tools
Process of planning
Planning challenges
Making plans effective
Management by objectives
0/10
ORGANIZING FUNCTION
Meaning and Importance of Organizing
Structure and Designs of Organizations
Principles of Organizing
Process of Organizing
Delegation
Coordination
Centralization and Decentralization
Informal Organizations
0/9
STAFFING FUNCTION
Meaning and Importance of Staffing
Human Resource Planning
Recruitment and Selection
Training and Development
Performance Management
Reward Management
Separation
0/8
DIRECTING FUNCTION
Meaning and Importance of Directing
Leadership
Motivation
Communication
Group Dynamics
Conflict Management
0/7
CONTROLLING FUNCTION
Meaning and Importance of Controlling
Elements of Control
Characteristics of Effective Controls
Control Process
Role of Control in an Organization
Tools of Controlling
0/7
STRATEGIC MANAGEMENT
Overview of Strategic Management
SWOT Analysis
Strategy Formulation
Strategy Implementation
Strategy Evaluation
0/6
EMERGING ISSUES AND TRENDS
Organization Culture
Ethics and Social Responsibility
Managing Innovation and Change
Diversity and Inclusion
Corporate Governance
Globalization
0/7