Relationship between planning and controlling:
(i) Controlling takes place on the basis of standards developed by planning because if the standards are not set in advance, managers have nothing to control.
(ii) Planning without controlling is meaningless because once a plan becomes operational, controlling ensures that events conform to the plans.
(iii) Planning is prescriptive whereas controlling is evaluative because planning prescribes an appropriate course of action while controlling evaluates whether decisions have been translated into desired actions.
(iv) Planning and controlling both are forward-looking because while plans are prepared for the future, controlling seeks to improve the future on the basis of the past experience.
(v) Planning and controlling are both looking back because, while planning is guided by past experiences, controlling compares the actual performance with the standards.