scholarly journals Assessment and Prioritize Risk Factors of Financial Measurement of Management Control System for Production Companies Using a Hybrid Z-SWARA and Z-WASPAS with FMEA Method: A Meta-Analysis

Mathematics ◽  
2022 ◽  
Vol 10 (2) ◽  
pp. 253
Author(s):  
Sara Rahmati ◽  
Mohammad Hossein Mahdavi ◽  
Saeid Jafarzadeh Ghoushchi ◽  
Hana Tomaskova ◽  
Gholamreza Haseli
Keyword(s):  
Risk Factors ◽  
Decision Making ◽  
Control System ◽  
Financial Management ◽  
Business Strategy ◽  
Meta Analysis ◽  
Management Control ◽  
Management Control System ◽  
Deviation Analysis ◽  
Fmea Method

The management control system in an industry is managerial, directional, hindrance, and cohesive action in order to cohere and regulate various branches and sub-branches. In fact, it is a system that supports the real state of matters in the right way. This method is intended at assuring that the purposes and activities carried out have the desired outcomes and eventually lead to the objects and purposes of the company. In this matter, the financial and non-financial management control system is essential both when it comes to strategy community; Consequently, in this paper, the management control system is classified into financial and non-financial categories because such analysis gives a chance to get a broad assessment of a management control system relationship in organizations. In this paper, we evaluate the relationship between business strategy and management control system and their influences on financial performance measurement of a manufacturer (a case study of Maral co.) with the use of Merchant’s theory. Furthermore, In this case, a decision-making strategy centered on the FMEA is used to identify and prioritize risk factors financial of the control system in companies. Nevertheless, because this strategy has some significant limitations, this research has presented a decision-making approach depending on Z-number theory. For tackle, some of the RPN score’s drawbacks, the suggested decision-making methodology combines the Z-SWARA and Z-WASPAS techniques with the FMEA method. The findings reveal that in the non-financial management control system element, customer satisfaction, and in the financial component, cost standards are at the largest level of weight. Furthermore, the strategic planning factor with a rate of 2.95 and the deviation analysis factor with a rate of 2.87 is at the lowest level, respectively. In sum, market or industry changes are the primary cause of risk in businesses, according to FMEA methodology and the opinions of three professionals.

scholarly journals Meta Analysis: Management Control System, Strategy, Company Performance

2019 ◽  
Vol 4 (3) ◽  
pp. 96-104
Author(s):  
Desi Pujiati ◽  
Misdiyono Misdiyono ◽  
Eko Sri Margianti
Keyword(s):  
Control System ◽  
Data Analysis ◽  
Meta Analysis ◽  
Population Sample ◽  
Management Control ◽  
Business Unit ◽  
Management Control System ◽  
Control Approach ◽  
Business Unit Performance ◽  
Unit Performance

This study aims to determine and analyze the influence of management control systems on the strategy and its impact on business unit performance. Management control system uses lever's control approach consisting of belief system, boundary system, diagnostic control system and interactive control system. The influence and impact of the management control system resulted from previous research studies. This research used meta-analysis method. Meta-analysis is the study of a number of research results in similar problems. The unit of analysis in the study are written documents about the research of management control system in the form of journal articles and research reports taken purposively based on their compatibility with the research theme. Data analysis used is quantitative data analysis with percentage and qualitative data analysis for descriptive analysis result data on 25 research related to management control system. Findings of meta-analysis results based on research objectives, research variables used, population / sample of research, data collection techniques and analysis tools show that management control system lever's of control approach can contribute to the achievement of strategy and impact on business unit performance improvement.

Management Control Systems

2018 ◽  
pp. 50-77
Keyword(s):  
Decision Making ◽  
Control System ◽  
Theoretical Approach ◽  
Management Control ◽  
Managerial Decision ◽  
Exogenous Variables ◽  
Management Control System ◽  
Managerial Decision Making ◽  
Conventional View ◽  
The Past

This chapter is focused on a fundamental theoretical approach to management control system research, the contingency theory. Reviewing the most prominent research works over the past 30 years, the main insights on the relationships between contingency factors and the appropriate design of MCS are illustrated and discussed. In particular, this chapter assumes the conventional view that considers MCS as passive tools designed to support managerial decision-making and summarizes the effects of endogenous and exogenous variables on the design of MCS and firm's performance for the achievement of equilibrium conditions.

scholarly journals Does business strategy and management control system fit determine performance?

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Tapio Jukka
Keyword(s):  
Control System ◽  
Business Strategy ◽  
Management Control ◽  
Business Strategies ◽  
Top Management ◽  
Scoring Method ◽  
Management Control System ◽  
Content Type ◽  
And Performance ◽  
And Cluster Analysis

PurposeThis study examines the relationship between business strategy, management control system (MCS) type and performance. Does the alignment of organisation business strategy and MCS fresult in better performance?Design/methodology/approachThis study draws on the business strategy and MCS type literature to identify business strategies and MCS types. A scoring method was used to identify business strategy types and cluster analysis to identify MCS types from a sample of 80 firms and 621 firm-years of data. Analysis of variance was used analyse the differences.FindingsFour types of MCS were identified and were labelled clan, adhocracy, market and hierarchy. The sample was split into defender, analyser, prospector and reactor strategies. The results showed defender strategies performed better with hierarchy or market type MCSs while prospector strategies performed better with clan or adhocracy MCS types. Analysers performed acceptably with all MCS types.Practical implicationsThe results of this study suggest that organisations should align their business strategy with a certain MCS type to achieve good performance. Also, alignment of top management and business strategy is supported as the top management properties differ between the MCS types.Originality/valueThis research contributes to the management control and strategy literature by demonstrating how the alignment between organisation business strategy and organisation-level MCS type determines organisational performance. The results suggest that differing business strategies yield better performance when aligned with the appropriate management controls represented by an MCS type.

scholarly journals MANAGEMENT CONTROL SYSTEM IN THE CONTEXT OF SMES

2021 ◽  
Vol 26 (3) ◽  
pp. 39-58
Author(s):  
Meryem CHEGRI ◽  
Hamza RIGALMA ◽  
Mohamed TORRA
Keyword(s):  
Decision Making ◽  
Control System ◽  
Control Systems ◽  
Management System ◽  
Management Control ◽  
Management Control Systems ◽  
Management Control System ◽  
And Performance

Several researchers have been concerned with management control, others have analyzed the specificities of SMEs, but research relating to management control in SMEs is still scarce. Management control is one of the foundations of company management and performance, it provides the visibility necessary to coordinate, plan and judge the actions of company stakeholders. Stemming from industrial accounting, it now appears as a means of controlling the complexity of organizations and mobilizing skills. Thus, the purpose of management control systems, in particular, is to present managers with methods and tools enabling them to provide them with useful information for decision-making. The objective of this work is twofolded: – identify the specific features of SMEs which may have an influence on their management system and therefore on their management control practices; – draw up an overview of the different management control tools and practices adapted to SMEs to finally confirm that management control in SMEs exists.

scholarly journals The Effect of Business Strategy and Management Control Systems Misfit On Hotel Performance

2020 ◽  
Vol 12 (1) ◽  
pp. 14-23
Author(s):  
I Made Pradana Adiputra ◽  
Lindawati Gani ◽  
Hilda Rossieta
Keyword(s):  
Control System ◽  
Financial Performance ◽  
Business Strategy ◽  
Organizational Design ◽  
Empirical Test ◽  
Management Control ◽  
Survey Method ◽  
Bivariate Analysis ◽  
Company Performance ◽  
Management Control System

The purpose of this research is to test the level of misfit business strategy with management control system will negatively associate to company performance. This study contributes to the existence of an empirical test of the existence of the concept of business strategy misfit with the management control system will negatively associate the company performance based on contingency-fit approach. In addition, the results of this study are expected to be a consideration for managers in the service industry to consider contingency factors in organizational design to improve company performance. The research was conducted by survey method (questionnaire) and purposive sampling at 227 star hotels industry type in Bali which sourced from Tourism Office of Bali Province 2018. Research respondents are senior managers with a minimum 1 year working period and have comprehensive information on company policies and operations. Using statistical method of regression with residual approach (bivariate analysis), the result of research indicate that  the result of research show according to hypothesis in research that there is influence of strategic misfit business with MCS negatively affect to financial performance and non- financial performance in hotel industry in Bali.

scholarly journals Meta analysis: management control system, strategy, company performance

2020 ◽  
Vol 4 (3) ◽  
pp. 96-104
Author(s):  
Desi Pujiati ◽  
Margianti . ◽  
Misdiyono .
Keyword(s):  
Control System ◽  
Data Analysis ◽  
Meta Analysis ◽  
Descriptive Analysis ◽  
Population Sample ◽  
Belief System ◽  
Management Control ◽  
Company Performance ◽  
Management Control System ◽  
Control Approach

This study aimed at determining and analyzing the meta analysis on journals review of the managementcontrol system, strategy and company performance theme. The management control system used lever's approach ofcontrol consisting of belief system, boundary system, diagnostic control system and interactive control system. Theinfluence and impact of the management control system was resulted from previous research studies. This researchused meta-analysis method. Meta-analysis is the study of a number of research results in similar problems. The unit ofanalysis in the study were written documents about the research of management control system in the form of journalarticles and research reports taken purposively based on their compatibility with the research theme. Data analysisused was quantitative data analysis with percentage and qualitative data analysis for descriptive analysis result dataon 25 research related to management control system. Findings of meta-analysis results based on research objectives,research variables used, population / sample of research, data collection techniques and analysis tools show thatmanagement control system lever's of control approach can contribute to the achievement of strategy and impact onbusiness unit performance improvement.

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