control (noun, con-trol, \ kənˈtroʊl \) activities (noun, ac-tiv-i-ties, \ ækˈtɪvətiz \)
Definition: are business management policies and actions that a company can use for a) reaching its objectives, b) protecting its resources and assets, and c) estimating and analyzing its performance. Such activities are executed at all levels of an organization’s structure and during all business process stages. Control activities usually include means designed to prevent and detect any errors or risks and involve such actions as verifications, business performance reviews, authorizations, etc.
In a Sentence:
- After I’ve spent seven years working as a manager, I concluded that business performance reviews are the most important part of control activities. If you don’t have an accurate estimate of how well your company is doing, nothing else really matters.
- The management of Mo-Ball has introduced several control activities designed to decrease risks. Their new procedures demand every worker to double-check all vital information before passing it on.
Synonyms and related words: internal control, external control, control system, control chart
