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AEREN
FOUNDATION’S Maharashtra Govt. Reg.
No.: F-11724
SUBJECT :Management Control Systems
Total Marks: 80
N. B.: 1)Attempt any Four Questions
2)All questions carries equal marks.
Question.1.
Consider a Retail Outlet. What should be the objectives of Management Control
system for the retail outlet? Examples would strengthen your views.
Answer:Modes of entry into an
international market are the channels which your organization employs to gain
entry to a new international market. This lesson considers a number of key
alternatives, but recognizes that alteratives are many and diverse. Here you
will be consider modes of entry into international markets such as the
Internet, Exporting, Licensing, International Agents, International Distributors,
Strategic Alliances, Joint Ventures, Overseas Manufacture and International
Sales Subsidiaries. Finally we consider the Stages of Internationalization.
Question.2.
Explain the Just-in-time and total quality management techniques of control. Also,
elaborate the implication of these techniques for management control.
Answer:Total Quality Management (TQM)
is an integrative management philosophy for continuous improvement of the
quality of an organization's products and processes in order to meet or exceed
customer expectations. There are several TMQ strategies used to improve
business management systems. Considering the practices of TQM as discussed in
six empirical studies, Cua, McKone, and Schroeder (2001) identified the nine
most common TQM practices as:
·
Cross-functional product design
·
Process management
·
Supplier quality management
Question.3.
Describe the need for MIS in a business organization focusing on Management Control
System. Also explain the important considerations in designing Management
Information System (M l S) for the purpose of ManagementControl
Answer:All businesses share one common
asset, regardless of the type of business. It does not matter if they
manufacture goods or provide services. It is a vital part of any business
entity, whether a sole proprietorship or a multinational corporation. That
common asset is information.
Information
enables us to determine the need to create new products and services.
Information tells us to move into new markets or to withdraw from other
markets. Without information, the goods do not get made, the orders are not
placed, the materials are not procured, the shipments are not delivered, the
customers are not billed, and the business cannot survive.
Question.4.
Explain how by designing an appropriate Management Control System , the different
types of risks faced by the banks can be tackled.
Answer:The banking sector serves as the
main source of resource mobilization in developing economies. Commercial bank
play significant role in the economic development. Today and more precisely in
future, companies, organizations (banks) and other decision making entities
whether profit making or not, will face major management challenges.
Irrespective of whether the main goal of the organization is to make profit or
not, it becomes
Question.5.
Describe and illustrate significance of human behavior patterns in management control.
Answer:Management control systems
influence human behavior. Good management control systems influence behavior in
a goal congruent manner; that is, they ensure that individual actions taken to
achieve personal goals also help to achieve the organization's goals. The
concept of goal congruence, describing how it is affected both by informal
actions and by formal systems.
Senior
management wants the organization to attain the organization's goals. But the
individual members of the organization have their own personal goals, and they
are not necessarily consistent with those of the organization. The central
purpose of a
Question.6.
Define Transfer pricing. Describe the various transfer pricing methods in
detail
Answer:Transfer pricing is the setting
of the price for goods and services sold between controlled (or related) legal
entities within an enterprise. For example, if a subsidiary company sells goods
to a parent company, the cost of those goods paid by the parent to the
subsidiary is the transfer price. Legal entities considered under the control
of a single corporation include branches and companies that are wholly or
majority owned ultimately by the parent corporation. Certain jurisdictions
consider entities to be under common control if they share family members on
their boards of directors. Transfer pricing can be used as a profit allocation
method to attribute a multinational corporation's net profit (or loss) before
tax to countries where it does business. Transfer pricing results in the
setting of prices among divisions within an
Question.7.
Differences and similarities between Management Control and Task Control
Answer:Task or operational control
focuses on detailed short-term performance measures whereas management control
focuses on higher-level managers and long-term, strategic issues. Operational
Control has a management by exception approach, that is, it identifies units or
individuals whose performance does not comply with expectations so
Question.8.
Give impact of Internet on Management Control.
Answer:The rapid growth of end-user
computing, low-cost communications, and network software now exert a powerful influence
on how businesses organize and communicate. The trend toward lean
organizations–empowered, multi-function work teams–and their need to
communicate information quickly "any time, any place" embodies the
emergence of geographically dispersed electronic groups. This new pattern of
organizational structure and the parallel developments of group information
technologies converge into a new working environment called the networked
society.
These
information-based organization shifts
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