Question

Define 'Controlling'. Explain its importance.

Answer 1

Management control can be defined as a systematic effort by business management to compare performance to predetermined standards, plans, or objectives in order to determine whether performance is in line with these standards and presumably in order to take any remedial action required to see that human and other.

Controlling is an important function of management. Its importance becomes apparent when we find that it is needed in all the functions of management.

Controlling checks mistakes and tells us how new challenges can be met or faced. The success of the organisation thus hinges on the effective controlling.