Management Control is the process by which an organization’s management team controls and oversees the various activities within the organization. This includes setting goals and objectives, making decisions, and monitoring and evaluation progress.

The management control process helps to ensure that an organization’s resources are used efficiently and effectively to achieve its objectives. It also helps to identify any potential problems or areas of improvement.

What are the steps in the management control process?

There are four main steps in the management control process:

1. Goal setting

An organization’s management team must first set clear goals and objectives. These should be specific, measurable, achievable, relevant, and time-bound (SMART).

2. Decision making

Once the goals have been set, management must make decisions about how to achieve them. This includes decisions about resources, strategies, and tactics.

3. Monitoring and evaluation

Progress towards the goals must be monitored and evaluated regularly. This helps to identify any problems or areas of improvement.

4. Adjustments

If necessary, management may need to make adjustments to the plans, resources, or strategies in order to achieve the desired results.

The management control process is an important tool that can help organizations to achieve their objectives. It is important to note that management control is not a one-time event; it is an ongoing process that should be revisited on a regular basis.