Questions: The managerial function of involves monitoring performance, comparing it to goals, and taking corrective action when needed. - organizing - leading - planning - controlling

The answer is: controlling.

Explanation for each option:

1. Organizing: This managerial function involves arranging resources and tasks in a structured way to achieve the organization's goals. It includes creating a framework for the organization, defining roles, and allocating resources. While important, it does not primarily focus on monitoring performance or taking corrective action.

2. Leading: Leading involves motivating, directing, and otherwise influencing people to work hard to achieve the organization’s goals. It is about guiding and inspiring employees, but it does not directly involve monitoring performance against goals or taking corrective action.

3. Planning: Planning is the process of setting objectives and determining the best course of action to achieve them. It involves forecasting future conditions, setting goals, and deciding on the actions required to reach those goals. While planning is crucial, it does not involve the ongoing monitoring and corrective actions needed to ensure goals are met.

4. Controlling: Controlling is the managerial function that involves monitoring performance, comparing it to goals, and taking corrective action when needed. This function ensures that the organization’s activities are aligned with the set objectives and that any deviations are addressed promptly to stay on track.

Therefore, the correct answer is controlling, as it directly pertains to monitoring performance, comparing it to goals, and taking corrective action when necessary.