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Copyright © 2012, Campbell R. Harvey. All Rights Reserved.


Half plus one of ownership of a company. Control gives the person or group having it the ability to make all decisions on how the company operates. In a publicly-traded company, control comes from buying more than half of the common stock.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved


the process of ensuring that activities are carried out as intended. Control involves monitoring aspects of performance and taking corrective action where necessary. For instance, control of expenditure involves regular monitoring of expenditure figures, comparison of these with budget targets, and decisions to cut or increase expenditure where any discrepancy is believed to be harmful. Without control an ORGANIZATION cannot function: employees would go their own way (possibly with the best of intentions) and the organization would fragment, making COORDINATION impossible. Control can, therefore, be viewed as a central component of MANAGEMENT.

Some writers in the SOCIOLOGY OF WORK have argued that, since (in their view) employers' and employees' interests are opposed, control of labour is the main task of management. Without it, workers would behave in a way which is detrimental to managerial goals. Research has shown, however, that many managers attach more importance to other managerial functions (such as budgeting), whilst it is questionable whether employees would necessarily act in the way suggested. See ORGANIZATIONAL ANALYSIS.

Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson
References in periodicals archive ?
* Basic PLC controls add much to the functionality of the mixer and can in addition provide both storage of mixing procedures and record the data from the mixing process for reporting purposes.
They also need more sophisticated troubleshooting and maintenance capabilities than are necessary for traditional machine controls, which have inputs and outputs from devices wired directly to a control system's I/O panel.
After the controller examines all of the above controls and determines none would have found the error, there is yet one more control that might have done the job--balance sheet account reconciliation.
Some jurisdictions investigate outbreaks by using CATI interviews of controls sampled from a bank of potential study participants (3).
The savvy firm reengineers inefficiencies, layers in controls, thereby creating overall process improvements.
Identify lower-risk areas where reliance on the testing of company level controls is sufficient;
Honeywell emerged as the choice to upgrade the digester controls. Its project manager not only understood the mill's requirements of keeping the mill running during the upgrade, but also understood the pulp making process.
The report establishes three categories of controls: effectiveness and efficiency of operations; reliability of financial reporting; and compliance with laws and regulations.
Alternatively, less expensive control systems ore available that employ simple control panels with tactile push buttons and controls.
The problem of aircraft handling exists because aircraft controls are counterintuitive.
Engineering controls isolate or remove a hazard from the workplace.

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