The correct answer is option 2- A-III, B-I, C-II, D-IV.
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List I
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List II
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A. Setting performance standards
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III. Standards are the bench-marks against
which actual performance is measured
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B. Measurement of actual performance
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I. Performance should be measured in reliable manner
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C. Analysing deviation
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II. Critical point control is used Analysing deviations
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D. Taking corrective action
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IV. When deviation goes beyond permissible limit
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* Setting performance standards- : The first step in the controlling process is setting up of performance standards. Standards are the criteria against which actual performance would be measured. Thus, standards serve as benchmarks towards which an organisation strives to work.
* Measurement of actual performance- Once performance standards are set, the next step is measurement of actual performance. Performance should be measured in an objective and reliable manner. There are several techniques for measurement of performance.
* Analysing deviations- Some deviation in performance can be expected in all activities. It is, therefore, important to determine the acceptable range of deviations. Also, deviations in key areas of business need to be attended more urgently as compared to deviations in certain insignificant areas. Critical point control and management by exception should be used by a manager in this regard.
* Taking corrective action- The final step in the controlling process is taking corrective action. No corrective action is required when the deviations are within acceptable limits. However, when the deviations go beyond the acceptable range, especially in the important areas. |
