Question

What is the last step of the controlling process?

• A. Measuring performance
• B. Setting standards
• C. Comparing actual performance with standards
• D. Taking corrective actions

Hint:

Controlling helps in identifying performance gaps and taking corrective actions to align outcomes with goals.

Answer 1

The Correct Option is D

The controlling process in business management consists of several steps that ensure an organization's activities are aligned with its goals. The process typically involves the following stages:

• Setting Standards: Establishing clear performance standards or targets that need to be achieved.
• Measuring Performance: Assessing the actual performance of the organization by collecting relevant data.
• Comparing Actual Performance with Standards: Evaluating how the actual performance measures up against the established standards.
• Taking Corrective Actions: This is the last step of the controlling process. Here, any discrepancies between the performance and standards are addressed by implementing necessary changes or interventions to align the performance with the desired objectives.

Thus, the last step in the controlling process is Taking Corrective Actions. This step is crucial as it ensures that deviations from standards are corrected, thereby bringing the organization's performance back on track.