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Xaviers Institute
of Business Management Studies
MANAGEMENT CONTROL SYSTEMS
Marks
– 80
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:
There are there
several emerging management techniques and practices that aimed to improve
management control and ensure effective and efficient use of resources to
achieve organizational goals. Keep in mind that the field of management is
constantly evolving, so there might be newer developments beyond my last
update. I'll provide a detailed explanation of some key management techniques
that were
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-based system that provides managers with relevant information to
support decision-making, planning, and control activities within an
organization. It collects, processes, stores, and presents data from various
sources, converting it into meaningful and actionable
Question.3.
What is meant by Transfer Pricing? Explain the various methods used to
determine the transfer pricing.
Answer:
Transfer pricing refers to the setting of prices for
goods, services, or intangible assets that are transferred between different
divisions, subsidiaries, or entities within a multinational company or a
conglomerate with multiple business units. These transactions often occur
across international borders, involving different tax jurisdictions and
Question.4.
Critically examine the basic features of a typical Performance Measurement
System.
Answer: A
Performance Measurement System (PMS) is a critical component of effective
performance management in organizations. It helps monitor progress, evaluate
performance, and align individual and organizational goals. A well-designed PMS
provides valuable insights into an organization's
Question.5.
Explain the Agency Theory Framework and discuss how the Management Control
System can reduce the agency cost.
Answer:
The Agency Theory Framework is a conceptual model that
examines the relationship between two parties: the principal and the agent. The
principal is an individual or entity who delegates decision-making authority to
the agent to act on their behalf. The agent, on the other hand, is the person
or entity responsible
Question.6.
Explain the unique features of Management Control Systems in Insurance
Companies.
Answer:
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
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