Question

Taking corrective/remedial action is the last step in the process of one of the functions of management.

1. Name the function.

2. Explain the other steps of the above-mentioned function.

Answer 1

1. It is controlling.

2. Following are the steps of controlling process:

i. Setting Performance Standards: The first step of controlling is to set performance standards. A manager evaluates the actual performance on the basis of these standards and finds out the deviations.

ii. Measurement of Actual Performance: The second step in the controlling process is the measurement of actual performance. The measurement of actual performance tells the manager whether the work has been done according to the plan or not.

iii. Comparison of Actual Performance with Standards: At this step, actual performance is compared with the standards and deviations are found out.

iv. Analysing Deviations: At this stage, deviations are analysed.