Give the steps in the control process that the company should follow to remove the problems it is facing.
Case Problem
A company M limited is manufacturing mobile phones both for domestic Indian market as well as for export. It had enjoyed a substantial market share and also had a loyal customer following. But lately it has been experiencing problems because its targets have not been met with regard to sales and customer satisfaction. Also mobile market in India has grown tremendously and new players have come with better technology and pricing. This is causing problems for the company. It is planning to revamp its controlling system and take other steps necessary to rectify the problems it is facing.
Give the steps in the control process that the company should follow to remove the problems it is facing.
2 Answers
The company should follow these steps in a systematic manner
(i) Setting performance standards
(ii) Measurement of actual performance
(iii) Comparison of actual performance with standards
(iv) Analysing deviations
(v) Taking corrective actions
The company should follow these steps in a systematic manner :
1. Setting performance standards
2. Measurement of actual performance
3. Comparison of actual performance against standards
4. Analysing deviations
5. Taking corrective actions