Try our study magic for free
Summary: Management Control
- This + 400k other summaries
- A unique study and practice tool
- Never study anything twice again
- Get the grades you hope for
- 100% sure, 100% understanding
a PDF, study it super fast
- No sign up, email or credit card needed!
- AI makes unlimited flashcards
- Get unlimited quizzes and tests
- Ask AI anything
- No sign up, email or credit card needed!
- Have and keep perfect overview
- Make flashcards, notes and mind maps
- Review, test and score!
Read the summary and the most important questions on Management Control
-
Lecture 1
This is a preview. There are 27 more flashcards available for chapter 31/10/2017
Show more cards here -
How does a typical business organization looks like?
Like a pyramid with a hierarchy. -
As a president, you work towards a goal. What do employee usually think?
- Why should I care?
- What's in it for me? -
What's the fundamental control problem?
How do we make sure that everybody in the organization is goal-directed? -
Lack of abilities/Personal limitations
Are they capable of doing what is expected of them?
Limitations are person specific, e.g. lack of aptitude (aanleg), training, experience, stamina, knowledge. All individuals face limitations in their abilities to perceive new problems, to remember important facts and to process information properly. -
What's the solution for lack of abilities/personal limitations?
Solution: training, job assignment/promotion, job design -
What does MC guard against?
It guard against the possibilities that employees will do something the organization does not want them to do, or fail to do something they should do. -
When would there be no need for a management control system?
If all personnel could always be relied on to do what is best for the organization, there would be no need for a management control system. -
Does perfect management control exists?
No -
Does an organization have to strive for a lot of MC systems?
No, MCS are costly. You need to have "enough" controls and need to make a cost-benefit trade-off. -
What does the MC process looks like?
1. Set direction and context
2. Execute and manage performance and health
3. Measure stakeholder value
- Higher grades + faster learning
- Never study anything twice
- 100% sure, 100% understanding
For my 1st exam I got a C. Then, I started looking for ways to learn better and I came across Study Smart. Since then I have scored a A+, A, A- and another A. I highly recommend it to everyone who wants to hear it. I am so happy with it!!
I was struggling to finish all my first-year subjects for 3 years. Then I discovered Study Smart, which helped me to finish all of them within 3 months.
Because of StudySmart, things are going well in many ways. Before, I always had study stress and no time for anything. Now I feel calm and confident (because of the program). I used to score a B, now I usually score an A or A+.
Hey Chris, I really want to thank you very much for developing the platform, I usually got around C for my exams, now I scored an A+, an A and a A- !!
Since using Study Smart, my average has increased significantly. I even completed a statistics course with a A+ while I'm bad at statistics. I took on extra courses this year, because of Study Smart. Thanks so much!
Ever since I started studying with StudySmart I passed all my exams !!! No more re-sits!! At first, I was happy with a pass and now I only get good grades. Many thanks!
I aced all the courses I studied with Study Smart. For law, I first scored a D, and now an A! I’m 100% sure that I’ll pass all the courses I study with Study Smart.
I always thought I studied well. My grades were fine. I could never have imagined that applying these study skills would have such a huge and direct impact on my grades, my speed and the pleasure I have in learning.
For the first time, I finally feel totally confident about the way I learn. I have the perfect overview and make great progress in terms of speed and the grades I get. Thanks, Chris!
I immediately started to enjoy learning again, and my grades soared. All of a sudden, everything went better. I highly recommend Study Smart to all students..
Being able to create my materials online made the process of studying so much smoother and quicker. I no longer have to spend a huge amount of my time on creating my summaries.
At first, my notes were a mess. Now I use Study Smart to take my notes in a perfectly structured way. It helps me to save a lot of time and do other things I enjoy.
Students that study with Study Smart get better grades. The system applies all the learning methods in such a way that both well-performing students and students who struggle perform much better.
Hi Chris, I would like to thank you very much. Last year I scored C on a course, and this year I got an A+ thanks to your method! Thank you very much!
The largest effect is that my child is more enthusiastic about school! Every parent wants their children to be happy at school, Study Smart made it happen.
In high school, I failed several exams, and that has really changed now. I actually needed this tool very much back then. Since I started studying with StudySmart, I haven't had any D's. My average score is now an A and those are results I would have never had in the past
With my old method, I passed only 3 out of 8 courses. Since I started taking my notes digitally in Study Smart, I have passed all my courses on the first try. For me, StudySmart takes away the stress of wondering if I will pass or not.
Thanks to StudySmart, I passed all my exams, and with better grades than before! On top of that, I have mastered a very good study method now, which I am confident will help me earn my degree.
