Sample Essay
The managers need to take basic corrective actions in this case then exercise effective control since this will help to maintain the right environment. The organization needs to implement an effective control system in order to improve performance levels. The qualities of an effective control system are as follows:
- Accuracy: The control system must generate accurate information so that the management takes the right action. If the information is inaccurate then the management will take a wrong decision and action and that can cost the company a lot.
- Timeliness: The control system must provide information on time in order to take action on time or the disastrous results would be hard to prevent.
- Economy: A control system must be economical and not very costly. It should benefit the organization.
- Flexibility: The controls must be flexible so that they can adjust with dynamic changes and the problems faced by the organization.
- Understandability: Controls should be easily understood by all individuals of a firm because if they are not easily understood then they do not have value. A control system that is difficult to comprehend can result in mistakes, frustration, and ignorance as well.
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