BUSINESS ADMINISTRATION
STRATEGIC MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Identify the correct order of process of strategic evaluation.
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Setting of standards, measurement of performance, Comparison of actual performance with standard, Finding out deviations.
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Measurement of performance, Comparison of actual performance with standard, Finding out deviations, Setting of standard
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Measurement of performance, Finding out deviations, Setting of standard, Comparison of actual performance with standard
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Explanation:
Detailed explanation-1: -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.
Detailed explanation-2: -The correct steps involved in the controlling process are Setting performance standards, Measurement of actual performance, Comparison of actual performance with standards, Analysing deviations, and taking corrective action.
Detailed explanation-3: -Basically the process of control involves three steps i.e.-(i) setting up standards (ii) performance appraisal and (iii) corrective measures.
There is 1 question to complete.