SUBJECT :Management Control Systems

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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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