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Feedback Control System
Feedback is information about actual achievements or actual results produced within the organization (e.g. management control reports) with the purpose of helping with the control decisions. Feedback is internal in that, it is concerned with measuring the output of the system itself. Most common types of control systems in a business such as budgetary control, stock control and the production control system are based on feedback control cycles. Feedback can be positive or negative.(a) Negative feedback:
This is information which indicates that the system is deviating from its planned or prescribed course and that some re-adjustment is necessary to bring it back on course. It is referred to as negative since the control action would need to reverse the direction or movement of the system towards its planned course.(b) Positive feedback:
Positive feedback results in control action that causes actual results to maintain or increase their path of deviation fromplanned results.
Testing the Slope The strong point of the relationship among the dependent variable and each of the independent variables can be determined using 3 methods: 1) Correlation
directing[ budgeting
Describe the impact of different types of standards on motivations and specifically,the likely effect on motivation of adopting the labor standard recommended?
The assignment model Consider the situation of assigning m jobs (or workers) to n machines. A job i(= 1,2,3 ...m) when assigned to machine j(= 1,2,3 ...n) acquires a cost Cij.
Advance Factoring and Maturity Factoring: In both recourse and non-recourse factoring whether the factor advances cash against book debts to the client instantly on assignment
Given budgeted figures and actual, then analyses each fixed cost into its components
Characteristics of cost reduction 1) Cost reduction must be real : said through increase in productivity change in product design improvement in technology etc. 2) Cost r
definition and illustrations
Suggestion system The suggestion system is as integral part of an established management system that aims at involving employees in kaizen. The number of worker s suggestion i
Open Account Credit sales are usually on open account that implies which the seller ships the goods to the buyer and afterward sends the bill invoice. Consignment In th
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