- It can be defined as an activity which involves monitoring and evaluation of planned activities which helps in achievement of organisational objectives.
- It is also oriented towards future, providing warning signals through diagnosis of data and triggering appropriate action and adjustments which is called strategic reorientation.
- There are two aspects of strategic control:
- Evaluation of strategic action.
- Taking necessary corrective actions.
FINANCIAL CONTROL TECHNIQUES:
- Financial performing control techniques are more superior and reliable because of the fact that success in from of financial performance.
- Financial controls are exercised at departmental level and organisation as a whole the techniques use as financial control are:
- Activity based costing
- Budgetary control
- Financial ratio analysis
- Shareholder value