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Control is a function of management that helps to check errors and take corrective actions. This is done to minimize deviation from standards and ensure that the stated goals of the organization are achieved in a desired manner.
Controlling; The control function, from the French contrôler, is used in the sense that a manager must receive feedback about a process in order to make necessary adjustments and must analyze the deviations. Lately scholars of management combined the directing and coordinating function into one leading function.
Management control as an interdisciplinary subject. A management control system (MCS) is a system which gathers and uses information to evaluate the performance of different organizational resources like human, physical, financial and also the organization as a whole in light of the organizational strategies pursued.
Henri Fayol (1841–1925) stated: "To manage is to forecast and to plan, to organize, to command, to co-ordinate and to control". [8] Fredmund Malik (1944– ) defines management as "the transformation of resources into utility". [9] Management is included [by whom?] as one of the factors of production – along with machines, materials and money.
Although control was one of the six 'functions of management' [9] listed by Henri Fayol in 1917, [10] [11] the idea of strategic control as a distinct activity does not appear in the management literature until the late 1970s (e.g. "Strategic Control: a new task for top management" by J H Horovitz, [12] which was published in 1979, is a candidate for first paper to explicitly discuss the topic ...
A management information system (MIS) is an information system [1] used for decision-making, and for the coordination, control, analysis, and visualization of information in an organization. The study of the management information systems involves people, processes and technology in an organizational context.
Internal control, as defined by accounting and auditing, is a process for assuring of an organization's objectives in operational effectiveness and efficiency, reliable financial reporting, and compliance with laws, regulations and policies. A broad concept, internal control involves everything that controls risks to an organization.
The tasks and functions of controlling may be transferred to management accounting in supply chains, supplemented by a cross-company approach. However, the past-oriented aspects of the traditional concept are inappropriate. Due to the strategic importance of supply-chain management, forward-looking control requirements must be taken into account.