Question

"Some times targets are set too high and can’t be achieved in current circumstances. Controlling helps in reviewing and revising them." Identify the importance of Controlling from the above statement.

• A. Accomplishing organizational goals
• B. Judging accuracy of standards
• C. Efficient use of resources
• D. Facilitating coordination in action

Answer 1

The Correct Option is B

In the context of business studies, controlling is a critical management function that involves monitoring and evaluating the various aspects of an organization to ensure all actions align with the set goals and standards. From the given statement, the importance of 'Controlling' is highlighted as "Judging accuracy of standards." This matches with the concept that sometimes targets are set too high and might be unachievable under current circumstances. Through controlling, management can review these targets and analyze whether the standards set are appropriate or need adjustment. By doing so, they ensure a realistic alignment between organizational goals and the actual performance. This function allows organizations to pinpoint discrepancies between expected and actual performance and take corrective measures.

Here are key points related to 'Judging accuracy of standards' in controlling: 

• Evaluation: Continuously assessing targets to determine their feasibility.
• Measurement: Comparing actual performance with established standards.
• Adjustment: Modifying goals and processes to fit current capabilities and circumstances.
• Improvement: Facilitating steps to close any gaps identified in performance.

Answer 2

The statement reflects the role of controlling in judging and revising the accuracy of the standards set by the organization. It helps ensure that the goals and objectives are realistic and achievable based on current conditions. Controlling involves monitoring progress, identifying deviations from the plan, and taking corrective actions to align performance with set standards, ensuring that organizational objectives are met effectively.