Responsibilities for control:
Ultimate responsibility for control rests with all managers throughout an organization.
Steps in the Control Process.
Establishing standards:
A control standard is a target against which subsequent performance will be compared. Such standards need to be measurable and consistent with the organization's goals and should identify performance indicators.
Measuring performance:
Performance measurement is constant and ongoing in most organizations. Performance measure must be valid for control to be effective.
Comparing performance against standards:
Performance may be higher than, lower than, or identical to the standard.
Considering corrective action:
After performance has been compared to standards, one of three actions is appropriate: do nothing (maintain status quo), correct the deviation, or change the standard.