scholarly journals MANAGEMENT CONTROL AND MODERN DECENTRALIZED TECHNOLOGIES

2020 ◽  
Vol 6 (4) ◽  
pp. 98-102
Author(s):  
Petro Kutsyk ◽  
Kostiantyn Redchenko ◽  
Roman Voronko
Keyword(s):  
Control Systems ◽  
Corporate Culture ◽  
Financial Services ◽  
Management Control ◽  
Management Control Systems ◽  
Smart Contracts ◽  
Monitoring And Control ◽  
Wide Range ◽  
Decentralized Autonomous Organizations ◽  
The Impact

Modern decentralized technologies, such as distributed registries, blockchain, smart contracts and decentralized autonomous organizations (DAO), are becoming more popular every year. Therefore, the subject of our research, the results of which are presented in this article, is the processes of digitalization in the field of management control and key technologies that allow to organize an effective system of management control in a decentralized organization. The success of management control is determined not only by its ability to identify and correct undesirable deviations in a timely manner, but also by the presence of a special corporate culture based on trust and fairness. Moreover, a positive corporate culture reduces the need for a number of control procedures designed to compensate for the lack of trust within the company. This effect can also be seriously enhanced by modern digitalization technologies. The research methodology included a broad review of literature sources and a comparative analysis of modern concepts of decentralized management, as well as drawing conclusions about promising ways to evolve management control systems. The aim of the study is to identify the impact on management control systems of modern technologies such as blockchain, smart contracts and decentralized autonomous organizations. The authors summarized the experience of applying these technologies in management control systems, which are designed to ensure high individual and team performance to achieve the strategic goals of the company. The conclusion is that the blockchain-based decentralized autonomous organization (DAO) is changing the forms and methods of management control, increasing the role of collective decisions and opening the way for employee initiative. DAO can significantly reduce internal and external transaction costs, including costs associated with the management and operation of management control systems. Different procedures for approval, confirmation and verification, as well as the adoption of standard management decisions are unified and automated. Accordingly, the time and the total amount of effort spent by managers to perform routine actions related to monitoring and control of employees' actions is reduced. Decentralization of control also reduces the impact of administrative procedures and ensures a higher level of trust within the organization. The decentralized model of management control is relevant for various areas of business and management, but special prospects can be seen in the field of decentralized finance (DeFi), where a wide range of professional controllers and users can be involved in auditing smart contracts and identifying shortcomings in financial services.

scholarly journals The impact of society on management control systems

2017 ◽  
Vol 33 (4) ◽  
pp. 253-266 ◽  
Author(s):  
Jan Greve ◽  
Christian Ax ◽  
David S. Bedford ◽  
Piotr Bednarek ◽  
Rolf Brühl ◽  
...  
Keyword(s):  
Control Systems ◽  
Management Control ◽  
Management Control Systems ◽  
The Impact

scholarly journals The Impact of Cost Leadership Strategy and Financial Management Control Systems on Organizational Performance in Pakistan’s Services Sector

2017 ◽  
Vol 6 (1) ◽  
pp. 1-19
Author(s):  
Ahmed Imran Hunjra ◽  
Farida Faisal ◽  
Faiza Gulshion
Keyword(s):  
Financial Performance ◽  
Control Systems ◽  
Financial Management ◽  
Management Control ◽  
Management Control Systems ◽  
Cost Leadership ◽  
Services Sector ◽  
Leadership Strategy ◽  
The Impact ◽  
Cost Leadership Strategy

This study gauges the impact of cost leadership strategy and financial management controls on financial performance of firms in Pakistan’s services sector. Drawing on a sample of banking, insurance and investment firms listed on the Karachi Stock Exchange, we find that cost leadership strategy and financial management control systems have a significant and positive impact on financial performance. This implies that both factors should be aligned in the long term.

scholarly journals HUBUNGAN GAYA KEPEMIMPINAN DAN SISTEM PENGENDALIAN MANAJEMEN TERHADAP TERBENTUKNYA BUDAYA DI PERUSAHAAN KELUARGA DEVELOPER “X”

CALYPTRA ◽  
2017 ◽  
Vol 5 (2) ◽  
pp. 227
Author(s):  
Olinda Lestari
Keyword(s):  
Organizational Culture ◽  
Control Systems ◽  
Leadership Style ◽  
Corporate Culture ◽  
Mutual Influence ◽  
Basic Research ◽  
Management Control ◽  
Cultural Control ◽  
Management Control Systems ◽  
Family Enterprises

Abstrak - Penelitian ini merupakan penelitian basic research yang bertujuan untuk meningkatkan pemahaman mengenai hubungan gaya kepemimpinan dan sistem pengendalian manajemen terhadap terbentuknya budaya di perusahaan keluarga PT. X. Penelitian ini menggunakan pendekatan kualitatif dengan metode pengumpulan data yaitu wawancara, observasi dan analisis dokumen. Hasil penelitian ini menunjukkan bahwa gaya kepemimpinan dan penerapan sistem pengendalian manajemen memiliki hubungan yang saling mempengaruhi terhadap terbentuknya budaya perusahaan. Gaya kepemimpinan seorang pemimpin dipengaruhi oleh nilai budaya keluarganya yang telah melekat dalam dirinya, dimana sistem pengendalian manajemen yang diterapkan disertai dengan nilai-nilai tersebut, sehingga kemudian akan menjadi dasar dari perilaku seluruh anggota organisasi. Faktor yang membentuk budaya tidak hanya dari kepemimpinan saja, tetapi melalui ikatan emosional yang tercipta antara pemimpin dan karyawan akan menciptakan pengendalian budaya yang efektif dalam mendukung terbentuknya budaya yang baik. Oleh karena itu budaya organisasi yang kuat merupakan komponen dari pengendalian yang juga membentuk adanya pengendalian budaya yang efektif untuk mengendalikan tindakan karyawan agar sesuai dengan budaya organisasi yang ada. Kata Kunci: Gaya kepemimpinan, Sistem pengendalian manajemen, Budaya organisasi, Perusahaan keluarga Abstract - This study is basic research that aims to improve the understanding of the relationship leadership style and management control system against formation culture in a family enterprises PT. X. This study used a qualitative approach with method of data collection are interviews, observation and document analysis. These results indicate that the style of leadership and the implementation of management control systems have a relationship of mutual influence on t he formation of the corporate culture. The leadership style of a leader is influenced by his family cultural values that have been inherent in her, where management control systems are implemented along with these values, which then will be the basis of the behavior of all members of the organization. Factors that shape the culture not only of leadership, but through the emotional bond created between leaders and employees will create effective cultural control in supporting the formation of a good culture. Therefore, a strong organizational culture is a component of the control that is also shaping the effective cultural control to control the actions of employees to fit the existing organizational culture.

scholarly journals THE IMPACT OF MANAGEMENT CONTROL SYSTEMS (MCS) ON ORGANIZATIONS PERFORMANCE A LITERATURE REVIEW

2018 ◽  
Vol 24 (105) ◽  
pp. 1
Author(s):  
Adnan Alkhafaji ◽  
Hassnain Raghib Talab ◽  
Hakeem Hammood Flayyih ◽  
Noor Abbas Hussein
Keyword(s):  
Literature Review ◽  
Control Systems ◽  
Business Models ◽  
Business Environment ◽  
Management Control ◽  
Management Control Systems ◽  
Future Research ◽  
Sustainable Competitive Advantage ◽  
Global Business ◽  
The Impact

The impact of management control systems (MCS) on organizations performance empirical research has been the subject of numerous studies during the past decade in developed and emerging economies. In the contemporary competitive, complex and changing global business environment, firms are being challenged to adopt business models that enable them to address the strategic uncertainties and risks they face in their business environments. The main issue of this study is that management accounting researchers argue that one of the ways firms can continually rejuvenate themselves to survive and succeed in these complex and uncertain environments is to understand the role of management control systems in Formulating a business strategy in management control systems that yields a sustainable competitive advantage which in turn lead to enhance organizations performance. The purpose of this study is attempting to wading in the literature review related to The impact of management control systems on organizations performance based on 10 articles published in a wide variety of journals. Discuss some methodological issues related to stage in the organizational life cycle and, finally, review the main results related to this topic and provide suggestions for future research Literatures indicate several factors that could possibly influence management control systems and organizations performance. It is worth highlighting the numerous factors as it is possible to conduct the proper orientation of influence of management control systems on performance.

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