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Question:

Explain the process of controlling with its steps.

Answer:

The controlling process consists of the following steps:

  • Setting standards: Establishing measurable performance standards in quantitative and qualitative terms, such as costs, time, and output.
  • Measurement of actual performance: Monitoring and measuring actual performance using various control techniques such as financial reports, audits, and performance reviews.
  • Comparison of actual performance with standards: Comparing the actual performance with set standards to identify deviations. If performance meets or exceeds standards, no corrective action is required.
  • Analyzing deviations: If deviations exist, it's essential to analyze their causes. Tools like management by exception help focus only on significant deviations.
  • Taking corrective action: Corrective actions are taken to align the actual performance with expected standards. This may involve revising plans or making strategic changes in resource allocation.


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  • Answered by Ekta Mehta
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  • Answered by Ekta Mehta
  • 4 months ago

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