Match List I with List II

Choose the correct answer from the options given below :

A-III, B-I, C-II, D-IV

The correct answer is option (2) : A-III, B-I, C-II, D-IV

Establishing Performance Measuring Standards and Methods

Standards are, by definition, nothing more than performance criteria. They are the predetermined moments in a planning program where performance is measured so that managers may receive indications about how things are doing and so avoid having to monitor every stage of the plan's execution. This simply means setting up the target which needs to be achieved to meet the organizational goals. These standards set the criteria for checking performance. The control standards are required in this case. Standard elements are especially useful for control since they help develop properly defined, measurable objectives.

Measuring the Performance

Performance against standards should be measured on a forward-looking basis so that deviations can be discovered and avoided before they happen. Appraising actual or predicted performance is relatively simple if criteria are properly drawn and methods for determining exactly what subordinates are doing are available. The actual performance of the employee is then measured against the set standards. With the increase in levels of management, the measurement of performance becomes quite difficult.

Determining if the Performance is up to par with the Standard

In the control process, determining if performance meets the standard is a simple but crucial step. It entails comparing the measured results to previously established norms. Managers may assume that "all is under control" if performance meets the benchmark. Comparing the degree of difference between the actual performance and the set standard.

Developing and Implementing a Corrective Action Plan

This phase becomes essential if performance falls short of expectations and  the analysis reveals that  corrective action is required. The remedial measure could include a change in one or more of the organization's functions.