Question : Case Study: XYZ Corporation
XYZ Corporation is a manufacturing company known for producing high-quality electronic devices. It is divided into three levels of management: top management, middle-level management, and lower-level management. The company's main objective is to expand its market reach and maintain a strong reputation for innovation and customer satisfaction.
Which management function involves setting performance standards and measuring actual performance against them?
Option 1: Planning
Option 2: Organizing
Option 3: Controlling
Option 4: Leading
Correct Answer: Controlling
Solution : The correct answer is (c) Controlling.
Controlling is a fundamental management function that ensures that the organization's activities are aligned with its goals and plans. It involves establishing performance standards, monitoring progress, comparing actual results with the standards, and taking corrective actions if necessary to ensure that the organization is moving in the desired direction.
