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State the Steps in the Controlling Process. - Business Studies

State the steps in the controlling process.

Explain the steps in the controlling process.

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Solution

The controlling function of management is primarily concerned with creating benchmarks of performance and comparing the actual results with those benchmarks. It thereby aims to correct the fallacies in the performance and enhance the quality of performance.

Steps in the process of controlling:-

1. Creating benchmarks:- Controlling aims at creating correct benchmarks of performances for different employees and thereby undertaking necessary operations to achieve the same. The benchmarks become targets for employees.

2. Quantifying performance level:- Controlling focuses on getting the tasks planned by the organisation done in an efficient and effective manner. When done, controlling quantifies the targets achieved and develops a result report for further steps. It makes sure that the organisation does not deviate from its original goal.

3. Comparative analysis:- Controlling attempts to accompany actual results with planned results and determines the positive or negative net results. This comparison brings the organisation back on track with its primary goals.

4. Performance variation:- Controlling monitors changes in actual performance as compared to the planned performance and determines the relative efficiency and effectiveness of an organisation. It thereby aims to implement necessary changes in the functioning of the organisation.

5. Calibrate deviations:- Controlling finally aims to calibrate the deviations in the actual results by proposing and implementing necessary changes in quality standards and performance report generation. This results in better management in forthcoming business problems.

Concept: Steps in Process of Control
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