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Administration controls are performance measurement systems e.g. Management accounting 'exceptionreporting' systems which compare actual performance to a predetermined target, goal, standard etc. Illustrations include strategic control tools like gap analysis, budgetary controlsystems e.g. variance analysis or staff appraisal systems to monitor the performance of staff. Each organisation needs a plan and with measurable objectives to attain it. Control is essential to make sure what is intended actually comes to be. The aim of a good control system is to ensure that the right things get done, so there has to be some kind of plan, standard, budget, rule book or any other target to adhere to. Control is dependent on the receipt and processing of information in the first place to determine what measures are needed, then further information (or feedback) about actual performance to ensure targets or deliverables are met.
Q. Show the Modern methods of budgeting? A flexible budgeting system produces many budgets projecting costs and revenues over different ranges of production or sales volumes.
VRC is a family owned business which has been manufacturing racing cycles for over a century. Over the years, the company has been relatively successful, although its growth has te
What is Strategic Management
Employee behavioural controls 'Influencing the process of how staff work and behave'. Reward e.g. based on attitude or behaviour Dress code e.g. to ensure staff u
identify and critically analyse fundamental issues related to strategic management. Undertake a study that shows clear evidence of synthesis and evaluation
Q. Process to implement balanced scorecard? 1. A clear vision of introduction of a BSC communicated and demonstration which senior management are committed to the idea. 2. E
Question: (a) Briefly elaborate on the steps for setting up a maintenance strategy. (b) Failures can be grouped in the following three categories namely Induced, Intermitten
A philosophy that believes traditional or conventional budgeting methods are of little use to management, however beyond budgeting does not believe that budgeting within organisati
Question Sarah and John are both working for a software development company. The manager of the new product division was originally the leader of the project team for whi
One rich seam of experimental data comes from meteorological measurements. Thousands of measurements are recorded each day by the Australian Bureau of Meteorology (BoM). This assi
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