Chapter 1 Management control: an overview Introduction T his first chapter introduces management control‚ providing an overview of its fundamental objectives‚ components‚ concepts and tools. Its aim is to elucidate the general anatomy of this management approach so that the reader will be able to understand the links between the various topics that are dealt with in subsequent chapters of the book. Management control will be defined progressively. In the first section we will deliberately
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INTRODUCTION The purpose of this case study is to describe and analyse the features of the management control system (MCS) of University of Southern California (USC). Before commencing the analysis a brief background of USC is provided. The USC‚ located in Los Angeles‚ was established in 1880 as a private research institution. The university’s academic and administrative programs are led by the president’s cabinet‚ which is comprised of a provost and senior vice president for academic affairs‚
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functions have certain basic characteristics that permit transient and steady-state analyses of the feedback-controlled system. Five factors of prime importance in feedback-control systems are stability‚ the existence and magnitude of the steady-state error‚ controllability‚ observability‚ and parameter sensitivity. The stability characteristic of a linear time-invariant system is determined from the system’s characteristic equation. Routh’s stability criterion provides a means for determining stability
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10 The Promise of Management Control Systems for Innovation and Strategic Change TONY DAVILA M anagement control systems (MCS) have traditionally been viewed as tools to reduce variety and implement standardization (Anthony 1965). They are associated with extrinsic motivation‚ command and control management styles‚ and hierarchical structures. Because their objective is to minimize deviations from pre-established objectives‚ they are designed to block change for the sake of efficiency.
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this paper is to discuss behavioral considerations in the management control process. The paper will discuss both personal observations made as both a manager of an organization and as an employee‚ as well as certain academic aspects. The textbook describes the management control system as a circular four part process which begins as strategic planning‚ followed by budgeting‚ then measurement and reporting‚ and ending with evaluation [ (Anthony‚ Hawkins‚ & Merchant‚ 2007) ]. Strategic Planning The
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Management and control Issue to be highlighted | Relevant references | Recommendations | DIRECTOR’S DUTIES * Directors‚ Encik Zayed and Puan Hashimah do not understand about the Companies Act 1965 and his responsibilities | * Section 132 of Companies Act 1965 : director of a company shall at all times exercise his powers for a proper purpose and act bona fide (in good faith in the best interest of the company) * Shall exercise reasonable care‚ skill and diligence with the knowledge and
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Give examples and lucid explanation of the various types of control that can be used by a manager. Managers can implement controls before‚ during or after an activity has been completed. The first type of control is called feedforward control; the second‚ concurrent control; and the last feedback control. Feedforward control Feedforward control anticipates problems. It is the most desirable type of control due to the fact that it actually prevents the problem as it takes place before the activity
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Management Accounting Research 23 (2012) 205–223 Contents lists available at SciVerse ScienceDirect Management Accounting Research journal homepage: www.elsevier.com/locate/mar Configuring management control systems: Theorizing the integration of strategy and sustainability Jean-Pascal Gond a‚∗ ‚ Suzana Grubnic b‚1 ‚ Christian Herzig c‚2 ‚ Jeremy Moon c‚3 a b c Cass Business School‚ City University‚ 106 Bunhill Row‚ EC1Y 8TZ London‚ UK Loughborough University‚ School of Business and
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12. Strategies & MCS Impact of different strategies on design MCS ‚ Role of MCS in identifying relevant and potential strategies & strategic uncertain. 1. Impact of different strategies on design MCS: Strategic missions and competitive strategies are important to MCS designers because they define to everyone in the organization what is critical to success. A business’s critical success factors should‚ in turn‚ be directly related to the results measures included in a result measures included in a
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competitive advantage. Current Management Controls with Evaluation and Recommendations: Early in 3M ’s history‚ chair and CEO William L. McKnight introduced a number of formal and informal controls to enable the corporation to innovate consistently and achieve its goals. The current management has continued to expand and embrace these controls‚ believing innovation to be the cornerstone of 3M ’s future. 1. 3M promoted intrapreneurship This is a very good control. 3M was the leader in intrapreneurship
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