The Importance of Management Control on the Organisation Research Paper

The Importance of Management Control on the Organisation - Research Paper Example This paper illustrates that management control was defined as â€Å"the process by which managers assure that resources are obtained and used effectively and efficiently in the accomplishment of the organizations' objective". The twin objectives of efficiency and effectiveness are obvious and as to which should be given importance between is silent on the definition and this is one of the issues that this paper will tackle. It may be seen in the definition that the accomplishment of both effectiveness and efficiency are necessary if management control is to be considered as such. Accomplish both objectives are easier said done. Effectiveness may refer to getting things done but in so doing the same may result in inefficiency as the latter concept has something to do with cost-effectiveness or doing something at the least cost. The need therefore to strike the balance between the two objectives becomes necessary. Just like any other concept which evolves over time, management control ’s definition was later found modified in the light of the bigger role that it plays in organization management by connecting the control systems within implementing strategy. Thus, after about three decades after the definition made earlier, management control was defined as â€Å"the process by which managers influence other members of the organization to implement the organization's strategies." One cannot discuss therefore the concept of management control without regard for the correct organization’s strategies. Strategies, of course, may have its basis from external and internal environments of the organization. By dealing with strategies it would, therefore, expand the traditional or limited definition of management control. Management control necessarily connotes measurable objectives to attain and therefore accounting information which is quantitative in character and therefore measurable should be easily accepted as part of the concept of control.

Business Intelligence - Assignment 2 Case Study

Business Intelligence - Assignment 2 - Case Study Example They did their best for their business to be competitive among market. However, they are running their business on website and have other small databases handling small different departments of organizations; moreover, giving best at their marketing department but though that is not enough to compete business in this technical world of computers. In other words, IT world has change the way to trade; the way of in-house management and the way to sale their production. The CEO, Mr. Peter Rada of Teen_R_Us concede this when he attended industry conference where business intelligence was discussed. He was keen to implement Business Intelligent solution for his business consisting of a web analytics, the data ware house, an OLAP system and data mining capabilities. A companied with Mr. Ben Etton, Chairman of the Board of Directors of the company and Mr. Jean Price, the senior accountant of the company worked out on this new technical change for the company and ask for different proposals explaining business system with its components in detail and their specific implementations. They set their budget that affords a system in every two years and though wants the priority implementations of the whole system in ten years. Business Intelligence is a collective word, which describes a deep analysis on the trade made for last few years. This is a system, which shows up with concepts and methods to improve business. In other words, business intelligence is the name of analysis made upon the past information of the organization along with providing data management of the organization using different latest tools and technologies. It more over allows the business users and other management to keep the records of all critical activities took place in form of data mining carrying in a collective data called data ware house. This business intelligence system provides reports in a style that are practically used by senior managers, leads and other members of team. These reports help the business royals to take actions in positive successive way towards their organization. Though making decisions on information provided by the organization doesn't covers the whole business; as business is the name of management of production and it's trading. Data Mining may allow analyzing for the futuristic step taken for the company's growth; data warehouse might keep the records of all trades but more important to all this is to make the production in demand. To satisfy the customers by giving the best in services. To make more and more customers by providing them with products they need in a comfortable price range. This all is about marketing which may be performed by web analytics; i.e., providing the trade online to its customers in a form of website. More parleying about business information is that it's a process to enhance business in a competitive means giving advantage to business by using the available data for decision-making. Major five steps for business intelligence are as follows: Data Sources Data Analysis Situation Awareness Risk Assessment Decision Support Data Sources: Business intelligence system needs data extraction and that can be done from report, emails, memos, documents, images, sounds, formatted texts, web pages and other list. The data is sourced electronically so that it can further used by the business intelligence system installed on an electronic machine like computer. Though,