A company M Ltd is manufacturing mobile phones both for the domestic Indian market as well as for export. It had enjoyed a substantial market share and also had a loyal customer following. But lately, it has been experiencing problems because its targets have not been met with regard to sales and customer satisfaction.
Also, the mobile market in India has grown tremendously and new players have come with better technology and pricing. This is causing problems for the company. It is planning to revamp its controlling system and take other steps necessary to rectify the problems it is facing.
Give the steps in the control process that the company should follow to remove the problems it is facing.
A company M Ltd is manufacturing mobile phones both for the domestic Indian market as well as for export. It had enjoyed a substantial market share and also had a loyal customer following. But lately, it has been experiencing problems because its targets have not been met with regard to sales and customer satisfaction.
Also, the mobile market in India has grown tremendously and new players have come with better technology and pricing. This is causing problems for the company. It is planning to revamp its controlling system and take other steps necessary to rectify the problems it is facing.
Give the steps in the control process that the company should follow to remove the problems it is facing.
The company should follow these steps in a systematic manner:
(i) Setting performance standards.
(ii) Measurement of actual performance.
(iii) Comparing actual performance with standards.
(iv) Analysing deviations.
(v) Taking corrective action.
The company should follow these steps in a systematic manner:
(i) Setting performance standards.
(ii) Measurement of actual performance.
(iii) Comparing actual performance with standards.
(iv) Analysing deviations.
(v) Taking corrective action.
