Knowra Control Control Control is the management function of monitoring organizational performance, comparing results with goals, and correcting deviations to keep the organization on course.
Management control cycle : A recurring process of setting standards, measuring results, comparing them with standards, and correcting deviations. It expresses control as a sequence that managers repeat to keep work aligned with goals.
Organizational goal : A desired result that an organization seeks to achieve. Goals supply the reference point against which controlled performance is judged.
Budgetary control : The use of budgets to plan activity, compare actual results with expected results, and manage variances. Budgets provide numerical standards for controlling spending and financial performance.
Planning : The management function of setting objectives and deciding how to achieve them. Planning establishes intended results; control checks whether execution matches those intentions.
Performance measurement : The collection and interpretation of indicators used to assess how well an individual, team, or organization performs. Measured results provide the evidence control needs to detect a gap between performance and goals.
Key performance indicator : A measurable indicator selected to track progress toward an important objective. A well-chosen indicator translates a goal into evidence managers can monitor.
Internal control : Policies and procedures designed to support reliable reporting, effective operations, and compliance with rules. It applies control principles to organizational risks, processes, and delegated authority.
Coordination : The alignment of interdependent activities so they contribute coherently to shared objectives. Coordination aligns work across units, while control evaluates results against standards and prompts correction.
Performance standard : A specified level or condition used as a benchmark for evaluating performance. Standards make the comparison step concrete by defining what acceptable results look like.
Management information system : A system that collects, processes, stores, and presents information for managerial decisions. Timely information lets managers compare results with standards and decide whether to intervene.
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