Question : The process of comparing actual performance with planned performance is known as:
Option 1: Forecasting
Option 2: Monitoring
Option 3: Controlling
Option 4: Analyzing
Correct Answer: Controlling
Solution : The correct answer is (c) Controlling.
Controlling is a management function that involves monitoring and evaluating the performance of an organization or individual against predetermined standards or objectives. It includes comparing actual results with planned targets, identifying any deviations or variances, and taking corrective action as necessary. The controlling process aims to ensure that activities are carried out as intended, performance is on track, and goals are achieved effectively and efficiently.
