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Definition, Characteristics and Factors Article shared by: Definition, Characteristics and Factors! Definition and Nature of MCS: The goal of management control system is to improve the collective decisions within an organisation in an economically feasible way.
Management control system should be able to develop, gather and communicate information to management at different levels in the organisation. Also, management control system should aim to provide financial as well as non-financial information as needed by different managers. Some examples of financial information are material costs, labour costs, net profit, investments made etc.
Some information gathered under management control system may emerge from internal data maintained within the firm. As stated earlier, different types of information are needed by persons working at different levels in the organisation. For example, top managers may require internal as well as external financial and non-financial data as their responsibilities relate to total organisation.
However, a production manager would be more interested in internally generated financial and non-financial data.
Broadly, management control system MCS refers to the design, installation and operation of management planning and control systems. The process consists of interrelated phases of programming programme selectionbudgeting, execution, measurement and evaluation of actual performance.
The control system should be designed to achieve unity of purpose through the use of the diverse talents of individuals in the organisation. The constant requirement of management control is the achievement of unity in diversity through coordination, in pursuit of short-term objectives and long-term goals.
Management Control System — Formal and Informal: Management control system includes both formal control system and informal control system. A formal control system requires that an organisation should have clear-cut rules, procedures, guidelines, plans relating to different managerial aspects.
Such things are needed to guide, direct, motivate the managers and other employees and coordinate their behaviour to achieve organisational goals.
In an organisation, many formal control systems may exist such as cost accounting system, management accounting system, production engineering systems, human resource system, quality maintenance system etc. Informal management control systems are always unwritten and implicit.
However, they contribute greatly in the implementation of business goals and strategies and help the organisation to attain high degree of motivation and goal congruence.
Examples of informal management control systems are unwritten norms about good behaviour of managers and employees, loyalties, shared values, organisational culture and ethics, mutual commitments among managers and employees.
A major objective of management control is to encourage goal congruence, which means that as people work to achieve their own goals, they also work to achieve the goals of the company.
A management control system is most effective when it establishes evaluation criteria that encourage goal-congruent behaviour and is implemented through a responsibility accounting system that employees trust to report their performance.
Characteristics of Management Control Systems: Management control systems designed in an organisation should fulfill the following characteristics: Factors Influencing Management Control Systems: Factors influencing the design of Management Control Systems are as follows: The size and spread of a large firm is bound to be different compared with that of a small firm.
This would certainly determine the content and nature of the control system for each organisation. Statutes and conventions govern organisational structure, and the extent of decentralisation and delegation in all enterprises. For example, the management philosophy of the State Bank of India is bound to be different from that of the State Trading Corporation.
Also, within an enterprise, the degree of decentralisation and delegation changes from one point of time to another to meet changed environmental challenges and the opportunities that these may present.
All these influence management control systems practiced in organisations. Nature of operations and their divisibility affect management control systems.Pro Street Tuner at the Official Harley-Davidson Online Store.
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