ANDREA NICOLE PENAFIEL

1.
Controlling is one of the most important functions of management. Its main
objective is to ensure that an organization’s activities are advancing as planned.
The control process that all managers have to implement consists of several
steps. Concerning the Establishment of Standards and Methods for Measuring
Performance, a company must develop, document, and explain clear standards
and methods for measuring performances. These must be specific and
understood so effective measuring of tasks and responsibilities can take place. In
this way, an enterprise can gain a good understanding of who is performing
according to company objectives.
Concerning Measuring the Performance, this must be done in a
consistent, regular manner to facilitate proper data acquisition to make informed
decisions concerning performance. This regular measuring gives management
substantial information so they can again adjust as necessary to their protocols.
In addition, Pertaining to Determining Whether the Performance Matches the
Standard, company management compares measured results with the standards
they previously established. Therefore, they can determine if performance is up
to their expectations - or not. With this comparing, they can decide to abandon
certain policies, procedures, or tasks, modify them, or leave them in place.
As concerns Taking Corrective Action, a company must use the
information gathered from the control process. They must take action that gives
solutions to problems. They must then measure these corrective actions some
time down the road to see if they are performing up to corporate expectations.
Consequently, the control process is something that is ongoing in organizations
to make sure that the business is performing optimally. Thus, controlling to be
effective, should involve not only the detection of lapses but also probe into the
failure spots, fixation of responsibility for the failures at the right quarters,
recommendation of the best possible steps to correct them.

2.
Functional areas of management mean the sum of all those activities
which are performed in an organization to achieve the objectives of the
organization. These functions can be of different types, but personnel, finance,
marketing, and production activities have a special importance. Business finance
is one of the functional areas of business, along with marketing, management,
human resources, information technology, and production management. It is one
of the most important functional areas because finance is essentially the lifeblood
of businesses. The finance function, which is related to accounting, is
responsible for pumping money to the other operational areas of the business.
A business unit is established for production and distribution of goods
and/or services. Production management refers to planning, organization,
direction, coordination, and control of the production function in such a way that
the desired goods or services could be produced at the right time, in right
quantity and at the right cost.
In the modern world, marketing function is becoming more and more
complex. This is because, first, the market today is the buyers’ market. The
needs, desires, buying capacities and habits of buyers need to be carefully
studied to draw them to patronizing a particular product or service. If they are
long habituated to using any other product or service, it becomes necessary to
wean them away by convincing them how they stand to benefit if they switched to
using the product or service offered by the organization.