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Strategic Management : Control Practice

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control practice | strategic management

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Control Practice Presentation Transcript

Slide 1 - (Strategic Management) Control Practice
Slide 2 - Requirements of effective control methods and systems b) Budgets c) Audits Control Methods and systems
Slide 3 - 1) CONTROL METHODS AND SYSTEMS Control methods and systems can be categorized as: Behavior control Output control
Slide 4 - a) Requirements of effective control methods In order to be effective, control methods and systems must be: Economical Meaningful Simple Measurable
Slide 5 - b) Budgets The key elements in successful strategy implementation are:
Slide 6 - c) Audits Auditing has been defined as a systematic process of objectively obtaining and evaluating evidence regarding assertions about economic actions and events. Definitions of strategic audit:
Slide 7 - People who perform the audit function can be divided into three basic groups:
Slide 8 - Management audits can be performed by: Outside consultants An organization's own internal audit staff Management Audits:
Slide 9 - Measures of organizational health To determine a firm’s vulnerability to financial crisis, some analysts use Alman’s Z score or a refined but proprietary version. The zeta concept combines weighted key financial ratios to produce an indicator of financial vulnerability.
Slide 10 - Thank You