Core Management Control System
Most organizations have core management control systems consisting of the strategic plans, financial forecasts, operating budgets, management by objectives, operation management systems, and management information system (MIS) reports that together provide an integrated system for directing and monitoring organizational activities.
The strategic plan is based on an in-depth analysis of the organization’s industry position, internal strengths and weaknesses, and external opportunities and threats. The financial forecast is usually a one- to three-year projection of the organization’s sales, revenues, and products. The operating budget is an annual projection of estimated expenses, revenues, assets, and related financial ...
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