(c) Performance reports(d) All of the above (right answer)Q5. When the deviations between the actual performance and the planned performance arewithin the limits(a) A limited corrective action is required(b) No corrective action is required(right answer)(c) A major corrective action is required(d) None of the aboveRelationship between Planning and Controlling:A good definition of management control is,“Theprocess through which the managersassure that the actual activities conform to plannedactivities.”While planning anorganisation’s activities, the fundamental goals, objectives and the methods for attaining themare established.The controlling process measures the progress of the organisation towards attainment of thesegoals and enables managers to detect deviations from the plan in time to take corrective actionsbeforeit’s too late.Thus, planning and controlling may be valued as the two blades of a pair of scissors, that is onecannot work without the other. Without objectives and plans, control is not possible becauseperformance has to be compared against some established criteria. On the other hand, planning isfruitful only when there is effective control.In the words of B.E. Goetz,“Managerialplanning seeks consistent, integrated andarticulated programs. On the other hand, management control seeks to compel events toconform toplans.”Planning and controlling are thus correlated and facilitate effective decision-making. The controlprocess helps to reveal the defects in the standards established leading to revision in plans,setting of new goals, changes in organisational structure and improvement in staffing andtechniques of direction. In this way controlling ensures better coordination amongst the functionsof management.Managerial planning which involves determination of objectives, strategies, standards, providesthe basis of controlling activities. Thus, control has no basis without planning just as planning ismeaningless without control. To sum up, controlling and planning are inter-dependent andcomplementary. Show What is Controlling?Controlling is regarded as one of the most important management functions. In fact, without the presence of a control function, the entire management function will become obsolete. The management will not be able to determine if the plan is working properly or not, or if it is properly implemented or not. The main objective of the control process is to make sure that the activities within an organisation are going as per the planning. Control process helps the managers in determining the level of performance of their respective organisations. The following are the steps involved in the control process: 1. Establishing standards and methods or ways to measure performance 2. Measuring actual performance 3. Determining if the performance matches with the standard 4. Taking corrective action and re-evaluating the standard Let us go ahead and discuss the above mentioned steps in detail. Establishing performance standards: Although setting of goals and standards are part of the planning process, it also plays an important role in controlling. The main objective of controlling is to guide the business towards the desired target. Therefore, if the employees or members of a business are well aware of the target, it will result in more awareness about the target. The managers must communicate the goals and objectives clearly to the employees without any ambiguities. An organisation in which everyone is working towards a common objective has a better chance to grow and prosper. Measuring actual performance against the set standards : The immediate action that managers need to take after being made aware of the goals, is to measure their actual performance and compare that with the standards already set. This helps in identifying if the plan is actually working as was thought to be. Once a plan is implemented, the task of managers is to monitor the plans and evaluate. Managers must be ready with an alternative plan or suggest corrective measures in case the plan is not going as was intended. This can be done only when managers are measuring their actual performance. The way performance can be evaluated is to measure it in monetary terms, hiring financial experts. This step of controlling is helpful in detecting future problems and issues and is essential for taking decisions immediately so that the company is able to recover from the losses. Determining if the performance matches with the standard: Checking if the performance matches with the standards is very important. It is an important step in controlling. In this step, the results are measured with the already set standards. Taking corrective action and re-evaluating the standard: Corrective measures need to be taken when there is a discrepancy. Correct actions provide protection against loss and stop them from reappearing in future. This was all about the topic of Steps in Control Process, which is an important topic of Business Studies for Commerce students. For more such interesting articles, stay tuned to BYJU’S. What is the first step of the control process?The first step in the controlling process is fixation of standards because standards are the criteria against which actual performance would be measured. Standards serve as benchmarks towards which an organisation strives to work. It can be set in both quantitative and qualitative terms.
What is the first step of the control process quizlet?The first step in the control process is to establish performance objectives and standards that create targets against which later performance can be evaluated. The second step in the control process is to measure actual performance and specifically identify what re- sults are being achieved.
What are the 5 steps of the control process?The control function can be viewed as a five-step process: (1) establish standards, (2) measure performance, (3) compare actual performance with standards and identify any deviations, (4) determine the reason for deviations, and (5) take corrective action if needed.
Which of the following is a step in the control process?4 Steps of Control Process are;
Establishing standards and methods for measuring performance. Measuring performance. Determining whether performance matches the standard. Taking corrective action.
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Which of the following statements is true about the first step of the control process
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