ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -The managerial control process involves tracking, measuring, and correcting activities to ensure a compliance of actual development with the planned one. Effective managerial control process needs the existence of plans, since planning provides the necessary performance standards or objectives.

Detailed explanation-2: -“Management is simply the process of decision-making and control over the action of human beings for the express purpose of attaining predetermined goals.” Stanley Vance has emphasized decision-making and control over the actions of employees for reaching the enterprise goals.

Detailed explanation-3: -After strategies are set and plans are made, management’s primary task is to take steps to ensure that these plans are carried out, or, if conditions warrant, that the plans are modified. This is the critical control function of management.

Detailed explanation-4: -plan-preparing for the future and create action points. organise-having resources ready and putting plan into action. command-ensuring employees are working. co-ordinate-making sure all departments work together to achieve the end goal or objective. More items