Control

calender iconUpdated on August 02, 2023
business
business essentials

Table of Contentstable of content icon

Definition:

Control is the process of influencing or directing behavior, activities, or systems to attain a desired outcome. It involves the establishment of standards, procedures, and mechanisms to monitor and adjust actions to ensure that objectives are met.

Types of Control:

  • Direct control: Exercise of direct authority over individuals or processes.
  • Indirect control: Influence over others through indirect channels, such as policies, incentives, or social norms.
  • Formal control: Established rules, procedures, and structures that guide behavior.
  • Informal control: Unwritten norms and expectations that influence behavior.

Examples of Control:

  • Managerial control: Supervising employees, setting performance standards, and monitoring progress.
  • Regulatory control: Laws and regulations governing business activities.
  • Social control: Social norms and expectations that influence individual behavior.
  • Technological control: Software systems that automate processes and enforce controls.

Factors Affecting Control:

  • Nature of the task: The complexity and difficulty of the task being controlled.
  • Level of uncertainty: The degree of unpredictability or variability in the outcome.
  • Culture and values: Social norms and values that influence control practices.
  • Organizational structure: The hierarchy and reporting structure of an organization.
  • Human factors: Individual traits, biases, and motivations.

Benefits of Control:

  • Increased efficiency: Aligning activities with desired outcomes.
  • Improved accuracy: Reducing errors and deviations.
  • Enhanced consistency: Maintaining consistency across different situations.
  • Greater accountability: Holding individuals responsible for their actions.
  • Improved decision-making: Providing a framework for decision-making processes.

Challenges of Control:

  • Resistance to change: Opposition to new controls or changes to existing ones.
  • Information overload: Gathering and interpreting data effectively.
  • Ethical considerations: Balancing control with ethical principles.
  • Administrative burden: Implementing and enforcing controls effectively.
  • Continuous monitoring: Maintaining control over changing circumstances.

Categories

Pocketful Fintech Capital Private Limited (CIN U65999DL2021PTC390548):

The SEBI Registration No. allotted to us is INZ000313732.
NSE Member Code: 90326| BSE Member Code: 6808| MCX Member Code: 57120
DP CDSL: 12099800

Compliance Officer : Mr. Randhir Kumar Chaudhari
Tel no: 011- 49022222 / 011-49022277
Email: randhir@pocketful.in

Registered Address/Correspondence Address: C- 3, Ground Floor, Okhla Industrial Area, Phase - 1, New Delhi - 110020

For any complaints, drop us an email atlegal@pocketful.in

Procedure to file a complaint on SEBI SCORES: Register on SCORES portal. Mandatory details for filing complaints on SCORES: Name, PAN, Address, Mobile Number, E-mail ID.

Smart Online Dispute Resolution|Link To Circular|Procedures and Policies|Broker Investor Charter|DP Investor Charter

Benefits: Effective Communication, Speedy redressal of the grievances.

Benefits: Effective Communication, Speedy redressal of the grievances.

Please ensure you carefully read the Risk Disclosure Document as prescribed by SEBI and our Terms of Use and Privacy Policy.
The brand name Pocketful and logo is in process of trademarks registration. The cost-effective brokerage plans make Pocketful a trustworthy and reliable online stock broker. Available on both the web and mobile, it offers unmatched convenience to traders. If you are considering opening......

Read More