Question

______ is the step in the controlling process where standards may have to be revised in case the deviation can not be corrected through managerial action. 

Options

• Setting Performance Standards

• Measurement of Actual performance

• Comparing Actual Performance with standards and analysing deviations

• Taking corrective action

Answer 1

Taking corrective action is the step in the controlling process where standards may have to be revised in case the deviation can not be corrected through managerial action. 

Explanation:

Comparing actual performance to specified standards reveals variances. Remedial or corrective action is necessary to address shortcomings. Changes include working methods, materials, machines, regulations, and procedures. Improvements to motivation, supervision, and business strategy may be necessary.