Final answer:
The managerial function that entails comparing actual results with objectives is known as controlling, which is critical in performance evaluations to assess goal achievement, take action on feedback, and stay on track with future objectives.
Step-by-step explanation:
The managerial function that involves comparing actual results with objectives to enable mid-course corrections and provide a measure of success or failure is known as controlling. This function ensures that an organization's goals are being met in an efficient and effective manner. It involves setting standards, measuring actual performance, and taking corrective action. During your Performance Evaluation, it’s crucial to assess which goals were met, exceeded, or not met and how this relates to your future work goals. You should also establish measurable and motivational criteria to track your progress.
Knowing you are responsible for certain outcomes, it's important to understand what is expected from you in your role. If expectations are not met, you'll be held accountable for those results. After receiving feedback during a performance evaluation, it's essential to take action to improve upon identified weaknesses and regularly ask your manager for feedback to stay on track towards meeting your goals.