the old control techniques which was used through years is
Answers
Traditional techniques are those which have been used by the companies for a long time now. These include: Personal observation. Statistical reports. Budgetary control.
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Answer:
Concept:
Managers are given the kind and quantity of information they need to assess and track performance through the use of control techniques. It is necessary to adapt the information from multiple controls to a particular management level, department, unit, or activity.
Explanation:
The old control techniques of management that has been used for years are :
- Break-even analysis
Depicts no profit, no loss scenario in an organization.
- Budgetary control
Focuses on regulating the organization's activity within scheduled budget.
- Standard Costing
Comparing the standard cost against recorded cost for each and every activity.
- Financial Ratio Analysis
Analyzes the financial performances using reports, sheets etc.,
- Internal Audit
Internal auditors asses their own performances for the operation carried out in an organization.
- Statistical Control
Picturizes how the organization's effectively accomplishes the task .
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