Controlling involves establishing standards, measuring performance against those standards, and correcting any deviations. Standards can be managerial, technical, related to products, processes, or regulations. Critical point standards focus on quality, revenue, time, quantity, cost, and capital. Principles of controlling include having a purpose for control, being future-directed, assigning responsibility, being efficient, being preventative, reflecting plans, being suitable to the organization, being individualized, using standards, focusing on critical points, addressing exceptions, and being flexible with the ability to take action.