To determine the correct sequence of the controlling process, let's break down each step and understand its logical order:
Setting up Standards (C)
First Step: The controlling process begins with setting up standards or benchmarks against which performance will be measured. These standards define the expected level of performance and provide a clear target for employees.
Measurement of Actual Performance (B)
Second Step: After setting up standards, the next step is to measure the actual performance of employees or departments. This involves collecting data and monitoring activities to determine how well the organization is meeting its standards.
Comparison of Actual Performance with Standards (D)
Third Step: Once the actual performance is measured, it is compared with the set standards. This comparison helps identify any deviations or gaps between what was expected and what was actually achieved.
Analysing Deviations (A)
Fourth Step: If deviations are found, the final step is to analyze these deviations to determine their causes and take corrective action. This analysis helps in understanding the reasons behind the deviations and in making necessary adjustments to improve future performance.
Based on the logical order of the controlling process, the correct sequence is:
Setting up standards (C)
Measurement of actual performance (B)
Comparison of actual performance with standards (D)
Analysing deviations (A)
The correct answer is: (4) (C), (B), (D), (A)
This sequence follows the logical progression of the controlling process, starting with setting up standards, measuring actual performance, comparing it with standards, and finally analyzing any deviations.
Piyush is the Production Manager of a shoe company called . He has 1000 workers working under him in his department. Piyush booked a special order for 300 pairs of gents shoes at an estimated cost price of Comforty < 500 per pair plus 20 percent profit margin. The order is to be completed within 10 days. After completion of the order, Piyush found out that the production cost of one pair of shoes was 600 Rupees. He tried to find out the reason but couldn't. He reported it to the Chief Executive Officer. The Chief Executive Officer appointed Abhay to find out the cause. Abhay was not only a specialized Cost Accountant, but also a qualified Human Resource Manager. After two days, Abhay reported that the set targets could be completed with the help of only 800 workers, which revealed that there was overmanning in the organization. The organization was not utilizing the human resources optimally, which had led to higher labour cost. The above case highlights one of the points of importance of an important function of management.
(i) Identify the function of management.
(ii) State any two points of importance of the function of management identified in part (i), except the one discussed in the above case.
Fill in the blank with the correct option:
She has been working here __________ five years.