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'The final step in the controlling process is taking corrective action, but when deviations are within acceptable limits no corrective action is required.' When and why corrective action is required? - Business Studies

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Question

'The final step in the controlling process is taking corrective action, but when deviations are within acceptable limits no corrective action is required.'

When and why corrective action is required? State.

Short/Brief Note
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Solution

The process of controlling is completed by taking corrective action. When the deviations fall within allowable bounds, no corrective action is necessary.

  1. When: However, when deviations exceed the acceptable range, especially in critical areas, immediate managerial attention is required to ensure that deviations do not occur again and standards are met.
  2. Why: A corrective action plan outlines what is required to solve a problem and assists a company in meeting its objectives.
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2021-2022 (March) Term 2 - Delhi Set 1
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