Final answer:
The type of control that detects problems after the fact is feedback control, used in various business functions and processes. It helps organizations identify areas for improvement and take corrective actions.
Step-by-step explanation:
The type of control that detects problems after the fact is known as feedback control. It involves monitoring and evaluating performance after it has occurred to identify any issues or mistakes that may have occurred.
Feedback control is used in various business functions and processes, such as financial control, quality control, and project management. For example, in financial control, financial statements and reports are analyzed to identify any discrepancies or errors.
Feedback control helps organizations identify areas for improvement and take corrective actions to prevent similar problems in the future. It is an essential component of effective management and decision-making.