Question
Michel john is a sole proprietor in Nicrobar. He has started trade after getting M.B.A degree. He is fully familiar of management. He starts his business with the planning function of management. He desires that all his activities should conform to planning. To this effect, he has adopted a system that keeps a constant watch on the business. Consequently, there is zero possibility of adverse results. It can, therefore, be said that this method is directly related to the results. Mr. John also believes that this method applies not only to any one level of management but to all the levels as well.
- Identify the function of management referred to in the aforesaid paragraph.
- Describe any two importance of the functions of management as identified under point (a) above.
Solution
- Controlling.
- Two importance of controlling are as under:
- Controlling helps in achieving goals: Controlling helps to achieve the goals of the organization by actual work performance with the standards.
- Controlling increases efficiency: Controlling increases efficiency through optimum utilization of all the resources, such as Man, Machine, Material and money.
