Management Control in an Organization...

Management Control in an Organization  Management control in an organization is an approach that enables the organization to produce desired results (generally expressed in terms of performance) by taking actions to achieve those results and by dealing with the dangers brought in by external difficulties (particularly those related to the market, competitors and the economic or political environment) and the internal difficulties of the organization. Management control in the organization consists of a systematic effort on the part of the organizational management. It is required to assure that all organizational resources are being used in the most effective and efficient manner possible in order to achieve the organizational objectives and goals. It constitutes (i) setting of performance standards with planning objectives, (ii) design of information feedback systems, (iii) comparison of actual performance with the predetermined standards, plans or objectives in order to determine whether there are any deviations and to measure their significance, and  (iv) taking of any remedial action if needed. Management control describes the means by which the actions of individuals or groups within the organization are constrained to perform certain actions while avoiding other actions in an effort to achieve organizational objectives and goals. It is not to be seen as an activity of exclusive competence of the administration area , but rather as a process which involves all the functions of the organization, at the appropriate levels of responsibilities. Management control can be defined as the process whereby the organization sets itself performance objectives and strives to achieve them as best it can over time. It is a method for managing the performance of the organization. It is an approach that is pursued over time, both before the action in the planning phase, and after the action in the monitoring...