Explain any four points of importance of controlling function of management.
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Solution and Explanation
The controlling function measures progress towards organizational objectives and highlights deviations, if any. By identifying deviations, it guides corrective actions to bring activities back on track, ensuring that the organization achieves its predetermined goals successfully.
Step 2: Judging Accuracy of Standards.
An efficient control system enables management to verify whether the standards set during the planning process are accurate, realistic, and relevant in the face of changing environmental conditions. It helps review and revise standards dynamically as internal or external situations evolve.
Step 3: Making Efficient Use of Resources.
By exercising control, a manager seeks to reduce wastage and spoilage of resources. Every activity is performed according to predetermined standards and norms, ensuring that human, physical, and financial resources are utilized in the most efficient manner possible.
Step 4: Improving Employee Motivation.
A good control system ensures that employees know in advance what they are expected to do and what the standards of performance are against which they will be evaluated. This clarity motivates employees to perform better and helps them improve their efficiency.
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What is the Planning Process?
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- Statement I : Controlling ensures that activities in an organization are performed as per the plans. Statement II : Controlling function of a manager is a pervasive function. Choose the correct option from the options given below :
Piyush is the Production Manager of a shoe company called . He has 1000 workers working under him in his department. Piyush booked a special order for 300 pairs of gents shoes at an estimated cost price of Comforty < 500 per pair plus 20 percent profit margin. The order is to be completed within 10 days. After completion of the order, Piyush found out that the production cost of one pair of shoes was 600 Rupees. He tried to find out the reason but couldn't. He reported it to the Chief Executive Officer. The Chief Executive Officer appointed Abhay to find out the cause. Abhay was not only a specialized Cost Accountant, but also a qualified Human Resource Manager. After two days, Abhay reported that the set targets could be completed with the help of only 800 workers, which revealed that there was overmanning in the organization. The organization was not utilizing the human resources optimally, which had led to higher labour cost. The above case highlights one of the points of importance of an important function of management.
(i) Identify the function of management.
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