A manager sets performance standards, compares actual performance against them, identifies deviations, and initiates corrective measures. Consider the following statements: Statement I: The manager is performing the controlling function. Statement II: Corrective action without standard setting weakens control efficiency. Statement III: Controlling is completely independent of the planning stage. Which of the above statements is/are correct?

Who was the first to formalize the economic concept of the division of labor in his classic work 'The Wealth of Nations'?

Given below are two statements: one is labelled as Assertion A and the other is labelled as Reason R. Assertion A: Within the functional classification of an industrial undertaking, security activities are defined as those which encompass the protection of property and persons. Reason R: These activities are designed to ensure the safety of the organization's workforce and the preservation of its physical assets against potential hazards. In the light of the above statements, choose the most appropriate answer from the options given below: