Explain basic purpose of business

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Reference no: EM1331438

Identify the four basic steps comprise the controlling function of management which I have done. The four basic steps: (1) establishing performance standards, (2) measuring individual and organizational performance, (3) comparing actual performance to planned performance standards and (4) taking corrective actions. I require assistance in with why is an understanding of the four steps important in strategic management. Would you be able to provide me with some examples to better help my understanding?

Reference no: EM1331438

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Explain basic purpose of business : (1) establishing performance standards, (2) measuring individual and organizational performance, (3) comparing actual performance to planned performance standards and (4) taking corrective actions.

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