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Management Control System at a Publicly Listed Company - Term Paper Example

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The objective of the paper is to assess the management control system of Vodafone. The author of the paper also assesses the strategic management model to interpret the winning formula of Vodafone company not only as a company but also as a brand name.   …
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Management Control System at a Publicly Listed Company
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Download file to see previous pages A company is a place where a group of employees work together for common goals and to receive compensation in return for the service that they are providing to the company. The company is run by a group of top-level managers and they divide the departments, units, and groups under them to carry out the decisions and objectives that they plan for the company. The process of management control simply ensures that the strategies implemented and the goals set by the top management of the company is moving in the right direction and the human resource of the company are perfectly allocated for performing these activities are carefully carrying out their task (Anthony and Govindarajan 51-53). 
The management control system involves the communication of guidelines, decisions and the objectives of the company or the organization. Similarly, strategic management planning also involves communicating similar functionalities as management control. But in a much similar way, strategic planning is a part of the management control process. Strategic planning is basically applied economics but management control is applied psychology. Both of these functions involve top-level management. It is a very important strategy that is often followed in companies practicing the decentralized model.
It is a well-known fact that in order to survive in the global market, the company should possess a competitive advantage over its competitors. The competitive advantage of the company involves two vital issues such as the cost structure and special features of the firm to differentiate with its competitors. Companies always try to increase their value chain in order to have an edge over their competitors. Companies like Vodafone formulate strategies which involve searching for the opportunities of growth in the telecom sector, achieving great operational performance, strengthen the capital base of the company and enter aggressively in the emerging markets of the world.   ...Download file to see next pagesRead More
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