PQR Ltd. is engaged in manufacturing machine components. The targ… - Vidyadip

Question

PQR Ltd. is engaged in manufacturing machine components. The target production is 200 units per day. The company had been successfully attaining this target until two months ago. Over the last two months, it has been observed that daily production varies between 150 - 170 units.
a. Identify the management function to rectify the above situation.
b. Briefly state the procedure to be followed so that the actual production may come up to the target production.

✓

Answer

a. The controlling function of management is needed to rectify the above situation.
b. The procedure to be followed so that the actual production may come up with the target production is as follows:
i. Establish standards to measure performance.
ii. Measure actual performance.
iii. Compare performance with the standards.
iv. Take corrective actions..

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