Consider the following statements regarding the controlling function of management: Statement I: Controlling is a forward-looking function as it ensures corrective actions before major deviations occur. Statement II: Controlling loses relevance in a dynamic environment due to its rigid nature. Statement III: Feedback control evaluates performance after activities are completed. Statement IV: Controlling is closely linked with the planning function. Which of the above statements 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: