A
It is an ongoing process where managers regularly monitor and evaluate performance
Continuous Process
Sets target spending limits in advance and compares real costs against the budget to stop money waste.
Budgetary Control
A type of control method that prevents problems by planning ahead
Feedforward Control
Tracks consumer happiness through surveys, phone calls, and customer panels to guide the sales team.
Costumer Feedback
What two main business tasks does a budget connect?
Planning and Controlling
Evaluates results and identifies areas for improvement.
Feedback Control
It ensures that an organization uses its resources well and reaches its final objectives
Controlling
One of the main types of Control systems that uses high level frameworks such as the Balanced Scorecard to evaluate overall performance across finances, customers, processes, and continuous growth
Strategic Controls
A type of control system ensuring high-quality output and efficiency through systems like Total Quality Management (TQM) and Just-In-Time (JIT) inventory management.
Operational Controls
What is the first step in Management Control
Set standards
Managers determine whether the actual results meet the planned objectives.
Compare Performance with Standards
Looks closely at micro-levels of the marketing mix (product, price, place, and promotion) to make advertising and sales cost-effective.
Efficiency Control
They help monitor performance, identify problems, and make improvements
Control methods and systems
What does Controlling mean in the context of budgeting?
Checking the Progress
The most important tool for a business because it connects planning (looking ahead) and controlling (checking progress)
Budget