Question

Management should establish control activities that are effective and efficient. When designing and implementing control activities, management should try to get the maximum benefit at the lowest possible cost.

Is there any rules to get the maximum benefit?

Answer 1

• Due to competitive environment, businesses are facing the phase of low margin with best possible services in every industry. And if there is no effective and efficient control then the margin may be affected.
• To overcome the above situation, management should establish efficient and effective control activity for getting maximum benefit from the available resources without affecting the quality of service and working environment for employees.
• For getting maximum benefit from available resources management can follow these few steps :-

1. Monitoring Inefficient process and manpower :- This is the main problem of every organisation due to which there is unnecessary delay in serving quality service. And this would be properly monitored to get maximum benefit.
2. Implementing best technology :- In present competitive environment, serving quality services on time is must for every business and it can be achieved with the help of upgraded latest technology so it will also be monitored for the betterment of organisation.