1.

Identify the idea behind the diagram and explain its importance.

Answer»

(a) Controlling 

(b) Importance of Controlling 

(1) Accomplishing organizational goals :

The controlling function measures progress towards the organizational goals and brings to light the deviations, if any, and indicates corrective action.

(2) Judging accuracy of standards:

A good control system enables management to verify whether the standards set are accurate and objective. 

(3) Making efficient use of resources :

By exercising control, a manager seeks to reduce wastage of resources.



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