Question

The last step in the process of controlling is ‘taking corrective actions’. Briefly explain the steps in chronological order that are taken in the process of controlling before this step.

Answer 1

Steps in the process of controlling before taking corrective action are:
(i) Setting performance standards
(ii) Measuring actual performance
(iii) Comparing actual performance with standards
(iv) Analysing deviations
• Critical Point Control
• Management by Exception