Some possible Revision Notes for the chapter " Controlling" in Class 12 Business Studies are:
Controlling is one of the crucial functions of management that ensures the accomplishment of organizational objectives. It involves a systematic process of monitoring the performance of individuals and the organization to identify deviations and make corrective actions. Below are the revision notes for business studies chapter controlling class 12:
1. Meaning of Controlling:
Controlling refers to the process of measuring and correcting the activities of individuals, departments, and the organization as a whole to ensure that desired objectives are achieved.
2. Importance of Controlling:
Controlling is crucial for the success of any organization because it keeps the management informed about the progress of the organization towards its objectives. It helps in identifying the deviations and taking corrective measures to rectify the issues.
3. Control Process:
The control process consists of four steps:
- Setting standards: The first step in the control process is setting standards and benchmarks against which the performance is measured.
- Measuring actual performance: The second step involves measuring the actual performance of individuals or organizations.
- Comparing actual performance with standards: The third step involves comparing the actual performance with the expected standards.
- Taking corrective actions: The final step in the control process involves taking corrective actions to rectify the deviations.
4. Techniques of Controlling:
There are various techniques of controlling that can be used by organizations, such as:
- Budgetary control
- Management by objectives
- Ratio analysis
- Quality control
- Internal audit
- Statistical process control
- Management information system (MIS)
5. The Limitations of Controlling:
Controlling has certain limitations that organizations should be aware of, such as:
- High cost of implementation
- Delay in decision-making
- Resistance from employees
- Inaccuracy of data
6. Essentials of Effective Control System:
To ensure an effective control system, the following essentials must be taken care of:
- Timely reporting
- Proper delegation of authority
- Suitable organizational structure
- Well-defined communication channels
- Motivation and encouragement of employees
- Flexibility in the control system
In conclusion, controlling is a crucial function of management that helps in maintaining organizational efficiency and effectiveness. Organizations must ensure the use of suitable techniques and take care of the limitations and essentials for an effective control system.
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