The correct answer is Option B) Planning

The reason is that Planning is the first step in the management process. Setting performance standards is one of the basic actions of the planning process

Explanation for incorrect answers

Option B: Organizing is the management function which involves developing an organizational structure and assigning resources to make sure that the organizational objectives are reached.

Option C: Controlling is a management function which helps to examine errors based on the set standards so that corrective actions can be taken.

Option D: Leading is motivating and inspiring the employees to achieve organizational goals