Explications:
Controlling is one of the most important functions of management. It helps managers bridge the gap between their organization’s actual performance and targets. This, in turn, reduces losses and risks for businesses. Management experts and strategists have developed several traditional and modern control techniques for this purpose.
There are several tools which managers can employ for facilitating control over their organization’s activities. These techniques may be either traditional or modern. Traditional techniques generally rely on non-scientific methods.
Modern techniques, on the other hand, are more scientific in nature. They are also more accurate and logical than traditional techniques. The following modern control techniques exist widely in use these days.
