The feedback mechanism is universal in all life forms. Without feedback mechanism, there wouldn't be evolution, there would be homeostasis, nor there would be human existence. Let me explain how feedback mechanism helps in maintaining homeostasis, how it can be easily applied real life situations.
Feedback at molecular level in cell can be divided into following types
Reference: Molecular Biology of Cell, Bruce Alberts et al.
Arrows indicate positive control, i.e A increases productions of more As
Lines with bars depicts negative control, i.e. A decreases the productions of more As.
Last two figures in right indicate more complicated versions of feedback.
Because of these kinds of feedback, complete homeostasis is maintained. Without feedback, we wouldn't feel hungry, we won't feel the heat, we wouldn't have the life at all.
If these feedback mechanism does not work properly, then there would be turmoil in our body without homeostasis. Feedback is not only important inside our body, it's also important when we take the whole community. The simplest example would be bacteria with a process called quorum sensing.
When we expand feedback to ecology, its top down and bottom up effect.
" The first, called bottom-up control, states that it is the nutrient supply to the primary producers that ultimately controls how ecosystems function. If the nutrient supply is increased, the resulting increase in production of autotrophs is propagated through the food web and all of the other trophic levels will respond to the increased availability of food (energy and materials will cycle faster).
The second theory, called top-down control, states that predation and grazing by higher trophic levels on lower trophic levels ultimately controls ecosystem function. For example, if you have an increase in predators, that increase will result in fewer grazers, and that decrease in grazers will result in turn in more primary producers because fewer of them are being eaten by the grazers. Thus the control of population numbers and overall productivity "cascades" from the top levels of the food chain down to the bottom trophic levels. " References: http://www.globalchange.umich.edu
So all these are nothing but feedback.
We all use feedback in day to day life to make decisions, without being much aware of its importance and its universality.
But in order to maintain homeostasis in our life, we should always listen to feedback to know what works and what doesn't. It's no point to repeat the things that don't work. e.g. If A promotes the formation of B and B at the certain level is harmful to our body, then we should stop producing more As.
So, we should always listen to feedback and take action based upon it.