03-05-2013, 04:07 PM
Introduction to Management Control Systems (MCS)
Introduction to Management.pdf (Size: 1.64 MB / Downloads: 33)
What is Control?
• “The essence of control is ACTION, which adjusts
operations to predetermined STANDARDS, and its
basis is INFORMATION in the hands of managers”—
Doug Sherwin (1956).
• So, control involves:
1. Deciding acceptability of results
2. Reference to what was planned
3. Information for measurement and comparison
4. Action for correction
5. Effective use of capabilities to achieve goals