Explain the techniques of managerial control.

Explanation

There are various techniques of managerial control which can be classified into two broad categories namely-


`1.`Traditional techniques:It refer to the techniques that have been used by business organisation for longer period of time and are still in use

`*`Personal observation:It helps a manager to collect first hand information about the performance of the employees.

`*`Statistical Report:
It can be defined as an overall analysis of reports and data which is used in the form of averages, percentage, ratios, correlation, etc., present useful information to the managers regarding the performance of the organization in various areas.

`*`Breakeven Analysis:The technique used by managers to study the relationship between sales volume, costs and profit is known as Breakeven Analysis

`*`Budgetary control:A budget can be defined as a quantitative statement of expected result, prepared for a future period of time.

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