The various types of management control deal with those functions where one is able to check for any errors or deviations and thereby, take necessary corrective measures in order to achieve desired goals and results. Like other managerial functions such as planning, then organizing, staffing as well as directing, controlling is also a managerial function. On the basis of the standards set by a firm or an organization, the management tends to take corrective measures, in case of any discrepancy.
There are three major types of management control and those are feed forward control, concurrent control and feed back control. Feed forward control is that types of management control which deals with management and organization of inputs. These inputs are the human resources as well as the other materials such as financial resources that tend to flow into an organization. Thus, it is given before any change arises in the output and thus, becomes very important for an organization.
Apart from this, usage of this system yields other benefits. The energy consumption is very low, the stability is increased as the wear and tear of its parts is reduced and it operates at high speed. Therefore, these types of management control helps in correcting all those errors or deviations before a series of actions gets completed. For example: If a document has to be reviewed, then feed forward control system will give information which is ex post and has not been given to you already.
Concurrent control is that types of management control that takes place at the same time when the activity or the project is going on or is in progress. Thus, it helps in regulation and monitories of activities which are ongoing or are in progress. Thus, in this type of management control, these ongoing activities are observed, so that corrective measures can be taken if an error or a discrepancy appears. An employee needs to have a thorough and a proper understanding of the tasks which he is performing and with the help of concurrent control, the employee is able to work in a manner where he is able to give correct and efficient results. Various checkpoints are also made, in order to monitor the progress of tasks. Concurrent control also helps in managing the databases and gives high performance.
Feed Back control is that types of management control which tends to monitor and observe either the outputs or the inputs of the organization after the task or the activity is completed. If the other types of control system, that is, feed forward and concurrent are costly or are not feasible, then feed back control system is used. Through this system, one can compare the standards with the actual performance, and thereby, can see how effective the planning was. An employee with the help of feedback he receives can improve its performance and can provide effective results and can even make new plans. Since, it takes into account the errors, after the action is completed, one is able to know about unforeseen disturbance, and can analyze overall performance.