Which of the following management function in which performance is measured and corrective action is taken to ensure the accomplishments of organizational goals?

Answer: The first step in the control process is measuring, or determining the actual performance of an individual or an organization. Basic job performance for most jobs can be measured in simple, objective, and easily quantifiable terms. However, to get a deeper and more meaningful analysis, managers frequently employ a variety of methods to gauge performance, such as personal observation, statistical reports, oral reports, and written reports. For most managers, using a combination of approaches increases the probability of getting meaningful and reliable information

Answer: The third step in the control process involves taking managerial action. When actual performance falls outside of an acceptable range of deviation managers must somehow fix the situation. Generally, managers can choose among three possible courses of action: do nothing, correct the actual performance, or revise the standards.

Managers choose to do nothing when performance measures up favorably to standards. Managers choose corrective action when performance does not measure up. Examples of corrective actions might include changing strategy, structure, compensation plans, training programs, redesigning jobs, or firing employees.

Revising standards is an appropriate response if the variance was the result of unrealistic, erroneous, or unreasonable expectations. Standards can be faulty, especially when the situation changes. During boom times, managers sometimes adjust standards up. During times of trouble, such as recessions, managers may revise standards downward.

Management and Functions of Management

Management has been described as a social process involving responsibility for economical and effective planning, regulation of operation of an enterprise in the fulfillment of given reason. It's a dynamic process consisting of various elements and activities.

These activities are different from operational functions like marketing, finance etc. instead these activities are common to every manger irrespective of his/her level.

Different experts have classified functions of management. According to George & Jerry, “There are four fundamental functions of management i.e. planning, organizing, actuating and controlling”. According to Henry Fayol, “To manage is to forecast and plan, to organize, to command, & to control”. Whereas Luther Gullick has given a keyword ’POSDCORB’ where P = Planning, O = Organizing, S = Staffing, D = Directing, Co = Co-ordination, R = reporting & B = Budgeting. Although the most widely accepted functions given by KOONTZ and O’DONNEL i.e. Planning, Organizing, Staffing, Directing and Controlling.

For theoretical purposes, it may be convenient to separate the function of management but practically these functions overlap in nature i.e. they are inseparable. Each function blends into the other and each affects the performance of others.

1. Planning

Is the basic function of management. It deals with a future course of action & deciding in advance the most appropriate course of actions to achieve a pre-determined goal.

“Planning is deciding in advance - what to do, when to do it & how to do." - KOONTZ

A plan is a future course of action. It is an exercise in problem solving & decision making. Planning is necessary to ensure proper utilization of human & non-human resources. It is an intellectual activity and it also helps to avoid confusion, uncertainties, risks etc.

2. Organizing

It is the process of bringing together physical, financial and human resources and developing productive relationship among them to achieve the organizational goals.

“To organize a business is to provide it with everything useful or its functioning i.e. raw material, tools, capital and personnel’s”- Henry Fayol

To organize a business involves determining & providing human and non-human resources to the organizational structure. Organizing as a process involves:

• Identification of activities.
• Classification of grouping of activities.
• Assignment of duties.
• Delegation and creation of responsibility.
• Coordinating and responsibility relationships.

3. Human resources

Is a function of manning the organization structure and keeping it manned. HR has assumed greater importance in the recent years due to advancements in technology, increase in size of business, complexity of human behavior etc. The main purpose of HR is to put the right person in right job.

“Managerial function of staffing involves manning the organization structure through proper and effective selection, appraisal & development of personnel to fill the roles designed un the structure” - Kootz & O’Donell.

Human resources involves:

• Manpower Planning 
• Recruitment, selection & placement.
• Training & development.
• Remuneration.
• Performance appraisal.
• Promotions & transfer.

4. Directing

Is a managerial function which actuates the organizational method to work efficiently to achieve organizational goals. It's the life-spark of any enterprise which sets in motion the action of people because planning, organizing and human resources are the mere preparations for doing work. Direction is the inert-personnel aspect of management which deals directly with influencing, guiding, supervising, motivating to achieve the organizations goals.

Direction has the following elements:

• Supervision
• Motivation
• Leadership
• Communication

Supervision- implies overseeing the work of subordinates by their superiors.

Motivation- means inspiring, stimulating or encouraging. Positive, monetary, incentives may be used for this purpose.

Leadership- is the process by which managers guide and influence the work of subordinates.

Communications- is passing information, experience, opinion etc from one person to another.

5. Controlling

Implies measurement of accomplishments against the standards and corrections of deviations if any to ensure achievement of the organization's goals. An efficient system of control helps to predict deviations before they actually occur.

“Controlling is the process of checking whether or not proper progress is being made towards the objectives and goals and acting if necessary, to correct any deviation” - Theo Haimann.

“Controlling is the measurement & correction of performance activities of subordinates in order to make sure that the enterprise objectives and plans desired to obtain them as being accomplished” - Koontz & O’Donell.

Therefore controlling has following steps:

a. Establishment of standard performance (KPI)

b. Measurement of actual performance.(KPI)

c. Comparison of actual performance with the standards and finding out deviation if any.

d. Corrective action.

Following these simple rules could make your life as a manager easier and simpler, but don't forget the most important rule of all.......Always lead by example!Don't ask your subordinates to do anything that you yourself are not willing or ready to do.

What management function takes corrective actions?

What is the process of measuring performance and taking corrective action to assure that the activity is carried out as planned?

Which of the following function of management measures the actual performance of business?

Which management function involves in determining the organization's goals performance objectives and defining strategic actions that must be done to accomplish them?