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ANSWER: The above given statement is FALSE. The first step in the controlling process is to Establish goals and standards.

Monitoring and recording the actual results is the second step in the controlling process.

WHAT IS CONTROLLING?

Controlling is one of the most crucial managerial tasks. Its main goal is to make sure that an organization's activities are progressing according to plan. All managers are required to develop a control procedure that has numerous steps. Each of these is critical and plays a significant part in effective management.

CONTROLLING PROCESS: The management control process makes sure that every action taken by a company advances its objectives. In essence, this technique aids managers in assessing the effectiveness of their company. They can choose whether to alter their plans or keep them the same by properly utilizing it.

Controlling process includes the following steps:

  1. Establishing goals and standards
  2. Measuring actual performance against goals and standards
  3. Taking corrective action
  4. Following up on corrective action

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