Control involves setting standards, measuring performance against those standards, and taking corrective action when needed. It is an important managerial function that helps ensure goals are achieved as planned. Control can take various forms, including feedback control which looks at outputs after the fact, concurrent control which monitors activities as they occur, and feedforward control which regulates inputs upfront to prevent issues. The key aspects of any control system are setting measures, comparing to standards, analyzing deviations, and correcting as necessary.