NCERT Solutions for Class 12 Business Studies Chapter 8 Controlling

NCERT Solutions for Class 12 Business Studies Chapter 8 Controlling

NCERT Solutions for Class 12 Business Studies Chapter 8 Controlling is designed and prepared by the best teachers across India. All the important topics are covered in the exercises and each answer comes with a detailed explanation to help students understand concepts better. These NCERT solutions play a crucial role in your preparation for all exams conducted by the CBSE, including the JEE.

NCERT TEXTBOOK QUESTIONS SOLVED

1. Explain the meaning of controlling.

Ans.Controlling means ensuring that activities in an organisation are performed as per the plans. Controlling also ensures that an organisations resources are being used effectively and efficiently for the achievement of desired goals. Controlling is, thus a goal oriented function. Controlling is a very important managerial function. Because of controlling manager is able to compare actual performance with the planned performance. In order to control the activities at all levels manager needs to perform controlling function.

2. Planning is looking ahead and controlling is looking back comment.

Ans. Planning and controlling are inseparable. Planning is the primary function of every organisation it is the thinking process, which means looking ahead or making plans that how desired goal is achieved in future thus it is called a formed looking function on the other hand controlling is a systematic function which measures the actual performance with the planned performance. It compared and analysed the whole process of an organisation and take correcting actions. Thus, it is a backward looking function but the statement “Planning is looking ahead and controlling is looking back” is partially correct because it should be understood that planning is glided by past experiences and the corrective action initiated by control function which aims to improve future performance. Thus, planning and controlling are both backward looking as well as a forward looking functions.

3. 'An effort to control everything may end up in controlling nothing'. Explain.

Ans. It's a well known fact that "Jack of all master of none" when we start controlling everything it results in controlling nothing because it is not possible at one time to control various activities as this process may neither be economical nor easy. Control thus focus on KRAs (Key Result Areas). It means instead of controlling all activities, control where the critical points goes wrong and by which organisation suffers. Thus, KRAs are set as critical points and one should be aware that he has to control what.

4. Write a short note on budgetary control as a technique of managerial control.

Ans. Budgetary control is a technique of managerial control in which all operations are planned and this will help us in knowing how much we have to spend in order to achieve the future result. It compared the actual result with budgetary standards. This comparison reveals the necessary actions to be taken so that the organisational objectives are accomplished. Budgeting offers the following advantages
(i) Budgeting focuses on specific and time bound targets.
(ii) Budgeting is a source of motivation to the employees they set the standards against which their performance will be appraised and thus, enables them to perform better.
(iii) Budgeting helps in optimum utilisation of resources by allocating them according to the requirements of different departments.
(iv) It helps the management in setting standards.

5. Explain how management audit serves as an effective technique of controlling.

Ans. Management audit is a technique which helps in measuring the efficiency and effectiveness of management. It is a comprehensive and constructive review. Thus, we can say it is defined as the review of the functioning performance and to improve its efficiency in future period hence it serves as an effective technique of controlling following points are proving the same.
(i) It helps to locate present and potential deficiencies in the performance of management functions.
(ii) It helps to improve the control system of an organisation by continuously monitoring the performance of management.
(iii) It ensures updating of existing managerial policies and strategies in the light of environmental changes.
This results in efficient controlling of management

6. Identify the benefits the company will define from a good control system.

Ans. When company starts following a good control on operations, it leads to derive benefits which are
(i) Helps in achieving desired goals.
(ii) Judging accuracy of operations.
(iii) Making efficient and effective use of resources.
(iv) Improving employee morale.
(v) Ensuring proper flow of orders and the whole system is in discipline.
(vi) It facilitates the co-ordination and improve the performance of every individual.

7. How can the company relate its planning with control in this line of business to ensure that its plans are actually implemented and targets attained?

Ans. Company relates its planning with control in this line of business by implementing effective control system as this will help in two aspects planning makes controlling effective and efficient whereas controlling improves future planning because it is like a postmortem of past activities to find out deviations from the standards and in order to ensure that its plans are actually implemented and targets are attained they will take the help from controlling process as it is a systematic process and it leads to following benefits
(i) Setting Up of Standards In this step, company set some targets against which the actual performance is measured.
(ii) Measuring of Performance In this step, company is able to measure the performance and evaluating that what is actually done by the employees.
(iii) Compare Performance After evaluating the actual result, company compares the actual performance with the planned one this helps in knowing that the desired goal is achieved or not.
(iv) Analysing Deviations This refers to the difference between actual and desired performance. It helps in knowing to the company that the deviation is positive or negative. It needs focus on which part rather than analysing whole.
(v) Taking Corrective Measures Final step is to know the type of deviation and trying to remove this deviation and in future it matches with the plans.

8. Give the steps in the control process that the company should follow to remove the problems it is facing.

Ans. 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

9. What techniques of control can the company use?

Ans. The company should follow the modern techniques to control the system
(i) ROI (Return on Investment)
It is a useful technique of controlling overall performance of a company. It indicates how effectively resources are being used, facilitates balanced use of capital employed, focuses on profits and relates them to capital invested.
(ii) Responsibility Accounting Under this technique, organisation is divided into centres which is responsible for overall growth of various departments. Responsibility centres in the organisation are
(a) Cost Centre Under this, one can check the production and operational cost.
(b) Revenue Centre Sales or marketing departments come under this, it is responsible for generating revenue.
(c) Profit Centre Profit = Revenue – Cost. It ensures the actual profit derived from the business.
(d) Investment Centre This centre ensures the optimum use of assets and it makes use of return on investment.
(iii) MIS (Management Information System)
It is a control technique which provides information and support for effective managerial decision making. It provide accurate information to the managers, helps in planning, controlling, provides cost effective information and many more.

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