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Question:

Explain the relationship between planning and controlling with examples.

Answer:

Planning and controlling are closely related functions of management that are often described as two sides of the same coin. Planning sets the standards, while controlling ensures these standards are met.

  • Planning initiates the process: It involves setting objectives, deciding on courses of action, and allocating resources. For example, in a manufacturing company, the plan may involve producing 10,000 units per month at a specific cost.
  • Controlling checks performance: Once the plan is implemented, controlling measures whether production met the 10,000-unit target within the set cost limit. If there is a deviation, corrective actions are taken to bring the performance back on track.

Thus, while planning is forward-looking, controlling is backward-looking in its comparison of performance but also forward-looking in its ability to ensure future plans are aligned with set goals.


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