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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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