Question

text dad manufacturing company super textile reported 43% fall in its profits in the 4th quarter ended up 31st 2017 which is acceptable range of deviation 25% decide why the company this was due to higher fuel cost and lower yield on account of demonetisation.the company aims to implement cost saving measure by researching contracts and its business process to meet its target in the process to meet its target in the future
also identify and explain the steps of the functions of management discussed above​

Answer 1

Answer:

(A) Controlling.

(B) Following are the steps of controlling discussed in the given para : (a) Analyzing deviations – Some deviation in performance is expected in all activities. It is therefore, important to determine the acceptable range of deviations. Also, deviations in key areas of business need to be attended more urgently as compared to deviations in certain insignificant areas. Critical point control and management by exception should be used by the manager in this regard. After identifying the deviations that demand managerial attention these deviations need to be analysed for their causes. (b) Taking corrective action – The final step in the controlling process is taking corrective action. No corrective action is required when the deviations are within acceptable limits. However, when the deviations go beyond the acceptable range, especially in the important areas, it demands immediate managerial attention so that deviations do not occur again and standards are accomplished.