What You Will Learn!
- to have clear understanding of ingredients of this subject and participative approaches
- to identify deficiencies and examining the role of administrators
- to find strategies for improvement of organizational efficiency and effectiveness.
- to have knowledge of different responsibility centres like Cot centre, Expense, Profit Centre, Investment Centre and Research and development centre
Description
The subject ‘Management Control Systems’ plays a vital role in identifying deficiencies and examining administrators' role in improving organizational efficiency and effectiveness. Organizations will have different responsibility centers like Cost Centre, Expense, Profit Centre, Investment Centre, and Research and development center. An organization may be profit oriented or not, and it may involve manufacturing activity or service activities. It should have a thorough understanding of this entire responsibility center. Hence, management students are expected to have a clear understanding of the ingredients of this subject, and participating in approaches like group discussions, role play, and presentations will be helpful in this regard.
A Management Control System is an aggregate of machines and people that work toward a common objective. A system can be described as a series of steps or phases consisting of an input, processing, and output phase. A control system adds measurement, analysis, and reporting phases. Output is measured, compared against a plan, analyzed if judged significant, and then reported back to the appropriate earlier phases of the system as positive or negative reinforcement. In a management control system, data/information is typically fed back to managers of the various system phases. Responsible managers will then take appropriate action based on the data/information provided.
Who Should Attend!
- aspirants of pursuing courses in commerce, mangement and business disciplines