Control involves establishing standards, measuring performance against those standards, comparing the results, and taking corrective actions if needed. It is an important management function to ensure plans are executed as intended. A basic control process involves setting standards in areas like profitability, market position, and productivity. Performance is then measured and compared to the standards, with corrective actions taken if there are deviations. Control helps plans stay on track and accounts for variability in how plans are implemented. It is crucial for monitoring organizational activities and guiding performance.