GENERAL KNOWLEDGE

Detailed explanation-1: -This process of comparing actual to planned performance and taking necessary corrective action is called controllingManagement process of comparing actual to planned performance and taking corrective actions when necessary..

Detailed explanation-2: -Controlling is a primary goal-oriented function of management in an organization. It is a process of comparing the actual performance with the set standards of the company to ensure that activities are performed according to the plans and if not then taking corrective action.

Detailed explanation-3: -Planning is a process by which an organization’s objectives and the methods to achieve the objectives are established, and controlling is a process which measures and directs the actual performance against the planned objectives of the organization.

Detailed explanation-4: -The control process is generally a three step process of measuring actual performance, comparing it against a standard, and taking managerial action to correct deviations or inadequate standards.

Detailed explanation-5: -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.