Controlling is an important function of management. Its importance becomes apparent when we find that it is needed in all the functions of management. Controlling checks mistakes and tells us how new challenges can be met or faced. The success of the organisation thus hinges on the effective controlling.
Controlling is the last function of the management process which is performed after planning, organising, staffing and directing. On the other hand, management control means the process to be adopted in order to complete the function of controlling. The following steps are included in it:
(i) Setting performance standards,
(ii) Measurement of actual performance,
(iii) Comparison of actual performance with standards,
(iv) Analysis deviations, and
