Market Control:
It involves the collection of data related to sales, prices, costs and profits for guiding decisions and evaluating results.
eg:Pre sales - Promotions, ads, Segmentation, Target etc.
It controls these costs by making budget in the beginning which is a powerful instrument.
Sales:
It controls the inventory which are the finished goods and transportation costs.
Post Sales:
It consists of two types of goods
1.Service:
They are intangible .
eg: time factor, quality of service.
2.Spares:
An item kept, in case another item of the same type is lost or broken.
Financial and Accounting Controls:
Accounting is an instrument used to control finance.
Financial control includes the mechanisms for preventing or correcting the misallocation of resources.
Cost is of three types:
1.Fixed cost:
Business costs, such as rent, that are constant whatever the amount of goods produced.
2.Variable cost:
A cost that varies with the level of output..
3.Semi fixed cost:
Costs are mixture of both fixed cost and variable cost.
1.Bench marking:setting a standard
2,Bench trending:seeing trends in the market
3.Budgeting:is done with concern with the short term ie day to day
4.Capital Budgeting:It includes long term.
capital may give revenue but with revenue we cannot make capital.
Human Resource Control:
1.Recruitment and Selection: recruitment is the process of attracting the candidates to apply for the job and selection includes selecting the right individual for the job.
2.Training and Development:is the process of improving the individuals present and future performance.
3.Attrition Management:No of employees leaving the job.
Operation Management Control:
1.Process control
2.Inventory control
3.Quality control
4.Breakdown control
5.Time management control
6/Waste control
It involves the collection of data related to sales, prices, costs and profits for guiding decisions and evaluating results.
eg:Pre sales - Promotions, ads, Segmentation, Target etc.
It controls these costs by making budget in the beginning which is a powerful instrument.
Sales:
It controls the inventory which are the finished goods and transportation costs.
Post Sales:
It consists of two types of goods
1.Service:
They are intangible .
eg: time factor, quality of service.
2.Spares:
An item kept, in case another item of the same type is lost or broken.
Financial and Accounting Controls:
Accounting is an instrument used to control finance.
Financial control includes the mechanisms for preventing or correcting the misallocation of resources.
Cost is of three types:
1.Fixed cost:
Business costs, such as rent, that are constant whatever the amount of goods produced.
2.Variable cost:
A cost that varies with the level of output..
3.Semi fixed cost:
Costs are mixture of both fixed cost and variable cost.
1.Bench marking:setting a standard
2,Bench trending:seeing trends in the market
3.Budgeting:is done with concern with the short term ie day to day
4.Capital Budgeting:It includes long term.
capital may give revenue but with revenue we cannot make capital.
Human Resource Control:
1.Recruitment and Selection: recruitment is the process of attracting the candidates to apply for the job and selection includes selecting the right individual for the job.
2.Training and Development:is the process of improving the individuals present and future performance.
3.Attrition Management:No of employees leaving the job.
Operation Management Control:
1.Process control
2.Inventory control
3.Quality control
4.Breakdown control
5.Time management control
6/Waste control
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