Question

One important managerial function is controlling, and the first step in the controlling process consists of

Answer 1

One important managerial function is controlling, and the first step in the controlling process consists of setting clear performance standards.
The goal of the controlling is to control that standards are met and stated goals of the organization are achieved .
Standards are used to measure the actual performance and are the benchmarks towards which efforts of entire organisation are directed. Some examples of standards are: revenue to be earned, cost to be incurred., improved motivation, improved quality of products,..