The managerial function of controlling involves monitoring performance, comparing it to goals, and taking corrective action when needed. This function ensures that organizational activities are aligned with planned objectives and helps in identifying deviations and making necessary adjustments to stay on track toward goals.
Explanation of Controlling Function
- Controlling is a systematic process that includes setting performance standards, measuring actual performance, comparing results against standards or goals, and taking corrective actions to address discrepancies.
- It is critical for maintaining progress and ensuring that organizational efforts are efficient and effective.
- This function is performed at all levels of management and helps in avoiding losses and achieving targeted outcomes.
In summary, the blank in the statement "the managerial function of ______ involves monitoring performance, comparing it to goals, and taking corrective action when needed" is correctly filled by controlling.
