This Presentation Is Prepared by Akhilesh Kumar Kanik for his Class related work the subject is Industrial Organisation Management which is taught in the 2nd semester of Master of Engineering in Industrial Engineering and Management at the Department of Mechanical Engineering Ujjain Engineering College Ujjain Madhya Pradesh. keep enjoying the learning and following this and encourage me to make more effective content for learning and knowledge sharing..

1. Unit 4 Controlling
Presented By: Akhilesh Kumar Kanik
Enrollment No. 0701ME21ME01
Email Address
Ujjain Engineering College Ujjain M.P.
Department of Mechanical Engineering
Submitted To: Prof. Ravi Nagaich Sir
Department of Mechanical Engineering
Ujjain Engg. College, Ujjain M. P. 456010

2. CONTENTS
• Controlling
• Controlling as a function of Management
• Mutual Relation Between Plan and Control
• Control Loop
• Administrative and Financial Controls
• Budgets and Steps in Budgeting
• Ownerships and its types: Individual, Partnerships etc.

4. Controlling
Control is a function of management which helps to check errors in
order to take corrective actions.
This is done to minimize deviation from standards and ensure that
the stated goals of the organization are achieved in a desired manner.

6. Mutual Relation Between Plan and Control
• Planning & Controlling Cannot be separated.
• These two are supplementary functions which supports each other for
successful implementation or execution of both the functions.
• Planning makes controlling effective & efficient whereas controlling improves
future planning.

7. Control Loop
• A control loop is the fundamental
building block of industrial control
systems.
• It consists of all the physical components
and control functions necessary to
automatically adjust the value of a
measured process variable to equal the
value of a desired set-point.

8. Administrative and Financial Controls
• Administrative controls are
training, procedure, policy, or
shift designs that lessen the threat
of a hazard to an individual.
• Administrative controls typically
change the behavior of people
rather than removing the actual
hazard or providing personal
protective equipment.
• Financial controls are the
procedures, policies, and means by
which an organization monitors
and controls the direction,
allocation, and usage of its financial
resources.
• Financial controls are at the very core
of resource management and
operational efficiency in any
organization.

9. Budgets
• A budget is an estimation of
revenue and expenses over a
specified future period of time and
is utilized by governments,
businesses, and individuals.
• A budget is basically a financial plan
for a defined period, normally a year
that is known to greatly enhance the
success of any financial undertaking.

10. Steps in Budgeting

11. Ownerships and its types: Individual, Partnerships etc.
• You can look over these Six
legitimate Business ownerships
in India.
• There are Sole Proprietorship,
Partnership Firm, One
Person Company Limited
Liability Partnership, Private
Limited Company, and Public
Limited Company.
• The decision of the business
element is subjected to different
factors.

13. • This is the most simple type of business ownership in India.
• Here, you don’t require a Permanent Account Number (PAN).
• For a sole proprietorship, the PAN of the individual (Proprietor) is enough to vouch
for the Proprietorship firm.
• Enlistments with different government divisions are taken into consideration if
needed.
• For instance, on the off chance that there is a business that provides a taxable service,
then registration with the service tax department is required.
• The same is valid for other aberrant duties like VAT, Excise and so on.
• It is not possible to transfer a proprietorship to another person. Owners of such firms
have endless business obligations.
• In a sole proprietorship, your personal assets and resources can be at stake due to
different liability risks.
Sole Proprietorship

15. Partnership Firm
• An organization firm in India is represented by The Partnership Act, 1932.
• At least two individuals can shape a Partnership firm subject to a limit of a maximum
of 20 partners.
• In an organization, partnership deeds are made and each partner decides upon their
capital contribution to the firm.
• It is also decided on how much profit or loss each partner will share.
• The working partners of the association are likewise permitted to attract a
compensation understanding with The Indian Partnership Act.
• They are also permitted to buy resources in their name. In such cases, these resources
belong to the firm.
• In case of the sudden death of a partner the partnership may or may not be dissolved.
• In case the company faces any loss due to one partner, all the other members needs to
equally beat the loss.
• An organization firm might possibly be enrolled with the Registrar of Firms (ROF).

17. One Person Company OPC
• This type of business ownership in India was introduced through the Companies
Act 2013 to help different entrepreneurs to start their own ventures.
• OPC was established to create a single person economic entity.
• One of the biggest advantages of a Person Company (OPC) is that there can be
only one member in an OPC, while a minimum of two members is required for
incorporating and maintaining a Private Limited Company or a Limited Liability
Partnership (LLP).
• Similar to a Company, a Person Company is a separate legal entity from its
promoter, offering limited liability protection to its sole shareholder, while
having continuity of business and being easy to incorporate.

19. Limited Liability Partnership(LLP)
• Limited Liability Partnership (LLP) firm is another type of business element set
up by an Act of the Parliament.
• LLP enables individuals to hold adaptability of proprietorship (like Partnership
Firm) and gives obligation insurance.
• The most extreme risk of each partner in an LLP is restricted to the degree of
his/her interest in the firm.
• An LLP has its proprietor Permanent Account Number (PAN) and lawful status.
• LLP additionally gives insurance to accomplices to illicit or unapproved moves
made by different accomplices of the LLP.
• A Private or Public Limited Company just as Partnership Firms are permitted to
be changed over into a Limited Liability Partnership.

21. Private Limited Company (PVT. LTD.)
• A Private Limited Company in India is like a C-Corporation in the US.
• This type of business ownership in India enables proprietors to buy into its offers by paying
offer capital charges.
• On buying into shares, the proprietors/individuals become investors in the organization.
• The individual risk of the investors is constrained to their offer capital.
• A private restricted organization can be framed by enrolling the organization name with a fitting
Registrar of Companies (ROC). Draft of Memorandum of Association and Article of
Association are arranged and marked by the advertisers (introductory investors) of the
organization.
• A Private Limited Company can have between 2 to 50 individuals with the least share capital of
Rs 1,00,000 (one lac).
• On the positive side, Shareholders of a Private Limited Company can change without
influencing the operational or lawful remaining of the organization.
• For the most part, Venture Capital financial specialists like to put resources into organizations
that are Private Limited companies since it permits an incredible level of detachment among
possession and activities.

23. Public Limited Company (PLC)
• A Public Limited Company is like a Private Limited Company with the distinction
being that the number of investors of a Public Limited Company can be boundless with
a base of seven individuals.
• It is commonly hard to set up a public limited company. A Public Limited Company can
be either recorded in a stock trade or stay unlisted.
• A Listed Public Limited Company enables investors of the organization to exchange its
offers uninhibitedly on the stock trade.
• A Public Limited Company requires increasingly open revelations and consistence from
the legislature just as market standard SEBI (Securities and Exchange Board of India)
including the arrangement of free executives on the board, open exposure of books of
records, top of pay rates of Directors and CEO.
• As a Private Limited Company, a Public Limited Company is likewise an autonomous
lawful individual, isn’t influenced by the demise, retirement or bankruptcy of any of its
investors.

24. Thank You