Distunguish between strategy formulation and management control. a) Strategy formulation is the process of deciding on new strategies where as management control is the process of implementing those strategies. b) From the viewpoint of system design, strategy formulation is unsystematic Read More …
Category: Topic Management
Differences between task control and management control
Contrast Task control with management control. a) Many task control systems are scientific whereas management control can never be reduced to a science. b) In management control, managers interact with other managers ; whilst in task control, either human beings Read More …
Difference between Management Control system and Simple control system
Contrast management control system with simple control system. / How management control system can be distinguished from simple control system? The control processes used by the managers contain the same elements as those in the simpler control systems. However there Read More …
Boundaries of management control
What are the boundaries of management control and make comparison among them? Management team needs both planning and control which lengthen the boundaries of management control. a) Management control fits between strategy formulation and task control in several respects. b) Read More …
Objectives of management control system (MCS)
What purpose management control system fulfills? / What are the objectives of management control system? Control is one of the important functions of management. Control ensures the proper execution of these functions. The manager exercise certain degree of control over Read More …
Management Control System & Elements of a simple control system.
What is management Control system? A management control system 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 the light of Read More …
Temporary Investment and its Types & Characteristics
Temporary Investment/ Short term Investment: Temporary investment is a kind of current asset account which contains the amount of investment that can and will be sold in the near future, having a life time of about one year or less.(www.accountingcoach.com) Read More …
Types of Organization Structure
Organization Structure can be classified into a limited number of standard types. The type that is most suitable for a given firm will depend on the size of a firm and complexity as well as its strategy. The four basic Read More …
Organization Structure
The organizational structure refers to the formal and informal arrangement of tasks, responsibilities and lines of authority and reporting relationships by which the firm is administered. Two basic kinds of organizational structures exist: (1) a formal organizational structure, and (2) an informal Read More …