GK
MARKETING MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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empowerment
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controlling
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organizing
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preventive discipline
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Detailed explanation-1: -Setting performance standards: Managers must translate plans into performance standards. These performance standards can be in the form of goals, such as revenue from sales over a period of time. The standards should be attainable, measurable, and clear.
Detailed explanation-2: -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-3: -The controlling Process consists of five steps: Setting the standards. Measuring the performance. Comparing the performance to the set standards.
Detailed explanation-4: -The process of comparing actual to planned performance and taking corrective action is called controlling.