Concept

Feedback

Summary
Feedback occurs when outputs of a system are routed back as inputs as part of a chain of cause-and-effect that forms a circuit or loop. The system can then be said to feed back into itself. The notion of cause-and-effect has to be handled carefully when applied to feedback systems: Simple causal reasoning about a feedback system is difficult because the first system influences the second and second system influences the first, leading to a circular argument. This makes reasoning based upon cause and effect tricky, and it is necessary to analyze the system as a whole. As provided by Webster, feedback in business is the transmission of evaluative or corrective information about an action, event, or process to the original or controlling source. History Self-regulating mechanisms have existed since antiquity, and the idea of feedback had started to enter economic theory in Britain by the 18th century, but it was not at that time recognized as a universal abstraction and so di
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