Final answer:
Monitoring progress toward goal achievement and taking corrective action when needed is an essential part of effective goal setting and performance management.
Step-by-step explanation:
Monitoring progress toward goal achievement and taking corrective action when needed is an essential part of effective goal setting and performance management. By regularly monitoring your progress, you can assess whether you are on track towards achieving your goals and take corrective action if necessary to stay on course.
For example, if your goal is to increase sales by 10% in the next quarter, you can monitor your sales performance on a regular basis to see if you are making progress. If you find that your sales are not on track, you can take corrective action by adjusting your marketing strategies or sales approach.