Final answer:
The control process involves several steps: establishing standards, measuring performance, comparing performance, analyzing deviations, taking corrective action, and monitoring and reviewing. These steps ensure that performance is aligned with established benchmarks.
Step-by-step explanation:
Control is implemented and exercised through a series of steps known as the control process. These steps include:
- Establishing standards: This involves setting benchmarks or criteria to measure performance.
- Measuring performance: Actual performance is measured against the established standards.
- Comparing performance: The measured performance is compared to the established standards to identify any deviations or variances.
- Analyzing deviations: Deviations from the standards are analyzed to determine their causes and significance.
- Corrective action: Based on the analysis, appropriate actions are taken to address the deviations and bring the performance back in line with the standards.
- Monitoring and reviewing: The control process is an ongoing activity, so monitoring and review are done regularly to ensure that the corrective actions have been effective and to make any necessary adjustments.