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Compare Performance and Standards is the right answer.
Control is a repetitive and continuous activity. It is made up of four parts.
The first part is Establishing Standards: Setting standards or criteria for assessment or comparison is the first stage of control. A standard is a benchmark or criteria that form the foundation for an assessment or a side-by-side comparison. The following list of four standard kinds includes:
- Quantity requirements include manufacturing volume, stock levels, raw material levels, and labor hours, among others.
- Quality standards include, among other things, controls for the raw materials that are received, production quality checks, and product requirements.
- Time standards include, among other things, the average time it takes to create a certain product and the standard time it takes to supply a given product.
- Costs Standard include those for manufacturing, administration, and sales.
Performance Assessment: The second control stage's goal is to assess the work being done.
Comparison of Performance with Established Standards: The third stage of control compares performance with established standards to see whether there are any deviations, variations, errors, or failures in relation to expected performance.
The fourth and last stage of the Control process, known as corrective action, aims to adjust performance to meet the required standard. A measure of correction and sufficiency of any deviation or variation with respect to the anticipated standard is always a component of corrective action.
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