Question

The firm is concerned with implementing the financial plans, and with managing the feedback and adjustment...

The firm is concerned with implementing the financial plans, and with managing the feedback and adjustment process needed to ensure that the goals of the firm are met during which stage of the planning and control process

a.

control stage
b.

planning stage
c.

budgeting stage
d.

forecasting stage
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Answer #1

A: Control stage

In the control stage, the managers need to implement the plans that were made earlier and act upon the feedback as well as correct the shortcomings of the plans.

This differs from the planning stage when the management makes broad and minute plans for achieving the organizational goals. The budgeting stage refers to the stage in which the financial budget is prepared for implementing the organizational goals. The forecasting stage is that stage in which the managers estimates the results of their plans.

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