'It is neither economical nor easy to keep a check on each and every activity in an organisation'.
Thus control should focus on key result areas which are vital for the success of an organisation. The above para indicates towards:
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Shift 30/05/2023 12:00 PM - 2:00 PM
Correct Answer
Detailed Explanation
Critical Point Control: It is neither economical nor easy to keep a check on each and every activity in an organisation. Control should, therefore, focus on key result areas (KRAs) which are critical to the success of an organisation. These KRAs are set as the critical points. If anything goes wrong at the critical points, the entire organisation suffers. For instance, in a manufacturing organisation, an increase of 5 per cent in the labour cost may be more troublesome than a 15 per cent increase in postal charges.
Management by Exception: Management by exception, which is often referred to as control by exception, is an important principle of management control based on the belief that an attempt to control everything results in controlling nothing.
Corrective Action: The final step in the controlling process is taking corrective action. No corrective action is required when the deviations are within acceptable limits.
(Program Evaluation and Review Technique), which is a project management tool used to plan, schedule, and manage complex projects. Controlling PERT involves monitoring and managing the project as it progresses to ensure that it stays on track and within the planned schedule
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