The difference between good control and bad control is the difference between success and failure. Apply good feedback principles to your business, and you will see success in production rate, profitability, and career success.
- Measure the right things
- Decide what to do, based on the available information
- Act quickly, then start the cycle again.
These three steps describe a feedback control loop. This is exactly the same process that maintains the cruise control of your automobile, maintains the temperature in your office, and maintains the production rate at an oil refinery. The same process drives the business results of your company. This paper demonstrates how to apply feedback control to achieve business results.