Question

Identify the function of management discussed in the given case. Quoting the lines from the case, explain the steps of the process of this function.

Answer 1

Function of Management: Controlling
- Controlling involves monitoring performance, comparing it with standards, analyzing deviations, and taking corrective actions.
Steps of Controlling Process Discussed in the Case:
(i) Comparison of Actual Performance with Standards:
- Performance is measured against set benchmarks to identify deviations.
- Quoted Line: *"The hotel had to be given possession by next year but the construction of the hotel was running six months behind schedule."*
(ii) Analyzing Deviations:
- Causes of performance gaps are examined through techniques like Critical Point Control.
- Quoted Line: *"Nitin investigated and reported that despite huge absenteeism, additional workers were not called."*
(iii) Taking Corrective Actions:
- Corrective measures are taken to resolve performance deficiencies.
- Quoted Line: *"Nitin ordered for machine repairs and asked to appoint additional workers."*

Answer 2

Importance of Controlling:
(i) Accomplishing Organisational Goals:
- Controlling ensures that actual performance aligns with planned objectives.
- By identifying deviations and taking corrective actions, organizations can stay on track to achieve their goals efficiently.
(ii) Making Efficient Use of Resources:
- Controlling helps in optimizing the use of financial, human, and material resources.
- It minimizes wastage and ensures that resources are allocated efficiently to maximize productivity.