GENERAL KNOWLEDGE

Detailed explanation-1: -Ans. Controlling can be defined as that function of management which helps to seek planned results from the subordinates, managers and at all levels of an organization. The controlling function helps in measuring the progress towards the organizational goals & brings any deviations, & indicates corrective action.

Detailed explanation-2: -The controlling process in business management is when managers set, measure and refine their business operations and manage cost control. By using a controlling process, a company can navigate changes to the supply chain, customer demand and other variables that impact a company’s livelihood.

Detailed explanation-3: -To maintain proper controls management, companies must involve all levels of staff throughout the processes. A company must give their employees clear directions for controls management so that each staff member understands their specific role in conducting controls management.

Detailed explanation-4: -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.