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Management control as an interdisciplinary subject. A management control system (MCS) is a system which gathers and uses information to evaluate the performance of different organizational resources like human, physical, financial and also the organization as a whole in light of the organizational strategies pursued.
Control is a function of management that helps to check errors and take corrective actions. This is done to minimize deviation from standards and ensure that the stated goals of the organization are achieved in a desired manner.
However, innovations such as the spread of Arabic numerals (5th to 15th centuries) and the codification of double-entry book-keeping (1494) provided tools for management assessment, planning and control. An organization is more stable if members have the right to express their differences and solve their conflicts within it.
A useful way of planning is to break down tasks into a hierarchy, using a tree diagram. The process decision program chart (PDPC) extends the tree diagram a couple of levels to identify risks and countermeasures for the bottom level tasks. Different shaped boxes are used to highlight risks and identify possible countermeasures (often shown as ...
Strategic planning is an organization's process of defining its strategy or direction, and making decisions on allocating its resources to attain strategic goals.. Furthermore, it may also extend to control mechanisms for guiding the implementation of the strategy.
Although control was one of the six 'functions of management' [9] listed by Henri Fayol in 1917, [10] [11] the idea of strategic control as a distinct activity does not appear in the management literature until the late 1970s (e.g. "Strategic Control: a new task for top management" by J H Horovitz, [12] which was published in 1979, is a candidate for first paper to explicitly discuss the topic ...
A small business risk management plan should outline specific actions to be taken for each risk. Risk mitigation strategies for a small business usually fall into the following categories: Avoid ...
Top level Configuration Management Activity model. Configuration management (CM) is a management process for establishing and maintaining consistency of a product's performance, functional, and physical attributes with its requirements, design, and operational information throughout its life.