Question $3$

$(25$ marks$)$

Control ensures that managers achieve organisational objectives or goals.

Different definitions exist that explain this concept of control within the context of business management. Consider these different explanations and answer the questions below.

$3\mathrm{.}1$ Define 'control'. Ensure that you explain the meaning of each key term used in the definition. Indicate at least $3$ different explanations of 'control' and critically give your own interpretation and explanation of the importance of 'control' and the role of 'control' in a company.

$3\mathrm{.}2$ Research and gather information about any company as an example that indicates the fallout and negative consequences if proper control measures are not in place. Refer to consequences such as: loss of stakeholder confidence, competitive disadvantage, financial consequences, reputation damage, missed opportunities and cultural impact.

$[$Please take note that marks will be awarded for correct referencing$]$