In a business context, what does "feedback control" specifically refer to?

Feedback control specifically refers to the process of monitoring outputs to assess performance. In a business context, this means measuring the results of various operations and comparing them to established standards or goals. If the outputs are not meeting these standards, management can take corrective actions to improve performance. This approach allows organizations to learn from their results, adjust processes, and enhance efficiency.

This concept emphasizes the importance of having a system in place that regularly evaluates performance metrics, enabling continuous improvement and ensuring strategic objectives are met. By focusing on outputs, feedback control provides a clear pathway for supervisors and managers to identify areas for improvement and make informed decisions based on actual performance data.