📝 One-liners · 66 cards
Controlling
What is the primary objective of 'controlling' as a management function in banking?
Controlling ensures that organizational activities conform to planned objectives by measuring actual performance against standards and taking corrective action where deviations occur.
What is the purpose of a control chart in monitoring banking process performance?
To track process variation and detect abnormal deviations over time.
What are the key steps in the controlling process followed in banking institutions?
The controlling process involves setting performance standards, measuring actual performance, comparing performance against standards, and taking corrective action to bridge any gaps.
What is the meaning of 'benchmark control' in performance management of banks?
Comparing actual performance against industry best-practice standards.
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