Answer to Question #236163 in Management for SHARPY MOONO

Question

It is important for institutions to budget and to further have feedback by receiving regular budgetary control reports in order to facilitate budget centres take control action. The report may or may not be detailed but ideally should contain sufficient information in order to motivate individual managers. Reports to top managers can be exceptional in nature.  

It is also essential for companies to conduct forecasting as they conduct their business.  

Required:  

iii. Feed -back loop. Explain this as it applies in the Control Circle.     

 iv. Identify and explain in detail features of feed- back which add value to the management of an institution. (maximum 1200 words)

Answer 1

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