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Xaviers Institute of Business Management
Studies
MANAGEMENT
CONTROL SYSTEMS
Note: Attempt any five questions. All
questions carry equal marks.
Question 1. Explain in detail how the new
management techniques for management control are being used to assure that
resources are obtained and used effectively and efficiently in the
accomplishment of organizational goals.
Answer
:
Question 2. What do you understand by
Management Information System? Explain its significance in designing Management
Control System in an organization.
Answer
: A management information system (MIS)
is a computer system consisting of hardware and software that serves as the
backbone of an organization’s operations. An MIS gathers data from multiple
online systems,
Question 3. What is meant by Transfer
Pricing? Explain the various methods used to determine the transfer pricing.
Answer
: Transfer pricing is an accounting practice that represents the price that one
division in a company charges another division for goods and services provided.
Transfer pricing allows for the establishment of prices for the goods and
services exchanged between a subsidiary, an affiliate, or commonly controlled
companies that are part of the same larger enterprise. Transfer pricing can
lead to tax savings for
Question 4. Critically examine the basic
features of a typical Performance Measurement System.
Answer
: Employee performance management is one
of the most important management tools that influence employee growth and
organizational development significantly.
A
performance management system includes various important HR functions like
goal-setting, feedback, rewards and performance review. An effective
performance management system helps HR managers establish clear performance
expectations through which employees can easily understand what is expected of
their job. It allows managers to reinforce individual accountability to meet
their goals and evaluate their own performance for employees.
Most
organizations use performance
Question 5. Explain the Agency Theory
Framework and discuss how the Management Control System can reduce the agency
cost.
Answer
: Agency theory is a principle that is
used to explain and resolve issues in the relationship between business
principals and their agents. Most commonly, that relationship is the one
between shareholders, as principals, and company executive, as agents.
How Agency Theory Works
An
agency, in broad terms, is any relationship between two parties in which one,
the agent, represents the other, the principal, in day-to-day transactions. The
principal or principals have hired the agent to perform a service on their
behalf. Principals delegate decision-making authority to agents. Because many
decisions that
Question 6. Explain the unique features of
Management Control Systems in Insurance Companies.
Answer
: Features of management control systems
in insurance companies are as follows:
Management Integrity
Management
integrity, or the moral character of persons of authority, sets the overall
tone for the organization. Management integrity is communicated to employees
through employee handbooks and procedural manuals. The Management Library
indicates that in addition to communicating management integrity, policy
manuals facilitate training to employees. However, management’s enforcement of
policies is the major indicator of an organization’s commitment to a successful
internal control system.
Question 7. How does the Control
Environment of projects differ from that of the manufacturing organizations?
Explain.
Answer
:
Question 8. What are knowledge
organizations? Analyze the role of Management Control System in knowledge
organizations
Dear
students, Get assignments and Case
studies
Do send your
query at :
or call us at
:08263069601
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