In this article we will discuss about:- 1. Definition of Management Control 2. Features of Management Control 3. Management Control System. Definition of Management Control: The management function of implementation of strategies is termed as 'Management Control'. It is defined as "the process by which managers influence the members of the organisation to implement the organisation strategies". Features of Management [...]
A master strategy of a firm consists of two inseparable parts: Business strategy and Corporate strategy. Each complements the other. Let us consider the following quotes: The strategic aim of a business (is) to earn a return on capital [1], and if in any particular case the return in the long run is not satisfactory, then the deficiency should be [...]
In this article we will discuss about the concept and process of benchmarking of a company. Concept of Benchmarking: The concept of benchmarking was pioneered in USA by Xerox Corporation in 1979. Benchmarking is defined as the continuous process of measuring the products, services, and business practices of a company against the toughest competitors or those companies recognised as industry [...]