Deze samenvatting bevat alle info gegeven door professor Roodhooft tijdens de lessen genoteerd op een duidelijke gestructureerde manier (dit zal je veel tijd besparen!), zowel voor management controle als voor kostenbeheersing. De leerstof wordt ondersteund door figuren. Daarnaast heb ik ook een ov...
Management Controle
Deel 1 Hoofdstuk 1 – 2 management control and management control systems
Deel 2 Hoofdstuk 3 – 4 The environment and strategy of organizations
Deel 3 Hoofdstuk 5 - 8 managementcontrole en organisatie structuur
Deel 4 Hoofdstuk 9 - 11 management control proces
1 CHAPTER 1: INTRODUCTION TO MANAGEMENT CONTROL 5
1.1 Management control 5
1.2 Need for control 5
1.3 Firm size 5
1.4 Management and control 6
1.5 Accounting and control 6
1.6 Human behavior 7
2 CHAPTER 2 – DESIGNING MANAGEMENT CONTROL SYSTEMS 8
2.1 Objects of control 8
2.2 Elements 8
2.3 Control model 9
2.4 Strategy, management control and task control 10
2.5 Framework for strategy implementation 10
3 CHAPTER 3 ORGANIZATIONS AND THEIR ENVIRONMENT 11
3.1 Shareholders and stakeholders 11
3.2 Goals of the organizations 11
3.3 Two major trends 11
3.3.1 Corporate governance 11
3.3.2 Corporate social responsibilities 12
3.4 The environment of the organization 13
3.4.1 Dynamics, certainty and complexity 13
3.4.2 Nationale cultuur 13
4 CHAPTER 4 - STRATEGY AND MANAGEMENT CONTROL 14
4.1 Strategy from different perspectives 14
4.1.1 Deliberate strategy 14
4.1.2 Emerging strategy 14
4.2 Strategic frameworks 14
1
, 4.2.1 Corporate strategy vs business unit strategy 14
4.2.2 Prospector vs defender strategies 15
4.2.3 Differentiation vs low-cost strategies 16
4.3 Strategy and management control systems 16
4.3.1 Strategic management accounting 16
5 CHAPTER 5 – DECENTRALIZATION, CONTROL AND INCENTIVES 18
5.1 Decentralization 18
5.2 Types 18
5.2.1 Functionele structuur 18
5.2.2 Business unit structuur 18
5.2.3 Matrix structuur 19
5.3 Tight and loose control 20
5.3.1 Tight 20
5.3.2 Loose 20
5.4 Controllership 20
5.5 Case: Southwest Airlines corporation 21
6 CHAPTER 6: RESPONSIBILITY CENTERS: REVENUE AND EXPENSE CENTERS 23
6.1 Responsibility centers 23
6.2 Revenue centers 24
6.3 Expense centers 24
6.3.1 Engineered expense center/standard kosten center 24
6.3.2 Discretionary expense center 24
6.4 Case study: BookWorm 25
7 CHAPTER 7: RESPONSIBILITY CENTERS: PROFIT AND INVESTMENT CENTERS 26
7.1 Introductie 26
7.2 Profit centers 26
7.2.1 Conditions for delegating profit responsibility 26
7.2.2 Advantages of profit centers 26
7.2.3 Difficulties with profit centers 26
7.2.4 Constraints on business unit authority 26
7.2.5 Other profit centres: functionele units 27
7.2.6 Measuring profitability of a profit center 28
7.3 Investment centers 29
7.3.1 Return on investment (ROI) 29
7.3.2 Residual income (RI)/Economic value added 30
7.4 Case study: Vyaderm Pharmaceuticals 31
2
,8 CHAPTER 8: TRANSFER PRICING, SHARED SERVICE CENTERS AND CROSS-FUNCTIONAL
MANAGEMENT 32
8.1 Transfer pricing 32
8.1.1 6 transfer pricing methods 32
8.1.2 Administration 35
8.2 Pricing corporate services 35
8.2.1 Central staff 35
8.2.2 Controle over gebruik 35
8.2.3 Controle over gebruik en keuze over intern of extern 35
8.3 Shared service centers 36
8.3.1 Wat zijn shared service centers 36
8.3.2 Voor- en nadelen 36
8.3.3 Shared service centers vanuit management controle 36
9.1 To plan or not – the goals of budgeting 39
9.1.1 Nadelen 39
9.1.2 Voordelen/doelen 39
9.2 Long range, strategic planning 40
9.2.1 Voordelen 40
9.2.2 Nadelen 40
9.2.3 Strategic planning process 40
9.3 The parts and linkages of the budget 41
9.3.1 Gebudgeteerde resultatenrekening 41
9.3.2 Capital budget/CAPEX/investeringen 41
9.3.3 Gebudgeteerde balance sheet 41
9.3.4 Gebudgeteerde cash flow statement: 41
9.4 Budgeting process 41
9.4.1 Wat is de mate van participatie van gecentraliseerde beslissingsnemer 41
9.4.2 Budgetvoorbereidingsstappen 42
9.4.3 Budget gaming 43
9.5 Beyond budgeting 43
9.5.1 Ontstaan: kriitek op budgeting 44
9.5.2 Alternatives to budgeting 44
9.5.3 Kritiek aan beyond budgeting 44
9.5.4 Svenska Handelsbanken 44
11.2 Theories on incentives and motivation 57
11.2.1 Agency theory = rationele theorie 58
11.2.2 Motivation crowding theory (MCT) 59
11.3 Case study: Quality Metal Service Center 60
11.3.1 Control systems Error! Bookmark not defined.
12 EXAMEN 61
12.1 Vraag 1: verklaar termen 61
12.2 Vraag 2: open vragen: leg uit 61
12.3 Vraag 3: case studies 61
12.4 Vraag 4: oefening: kleine case study over alle geziene topics 61
4
,PART 1: management control and management control systems
1 Chapter 1: Introduction to management control
1.1 Management control
= the systematic process by which the organization’s higher-level managers influence the
organization’s lower-level managers to implement the organization’s strategy
à reden van nood aan MCS: decentralization
1.2 Need for control
• Goals/doelstellingen: pure financiële doelstellingen/creëren van EBITDA/EBIT/
aandeelhouderswaarde genereren (return on investment > WACC)
à Triple p bottom line: people, planet, profit/prosperity zijn de 3 doelstellingen van
bedrijven
• Strategies: hoe we de goals gaan realiseren:
o corporate strategy: in welke sectoren willen we actief zijn, M&A
o business unit strategy: hoe gaan we ons als BU onderscheiden van de concurrentie?
Denk aan Michael Porter: cost leadership vs differentiation
Decentralized managers do not automatically
1. Understand the goals and strategies developed by higher level managers, nor how they can
contribute to these goals and strategies
2. Agree with the organizational goals and strategies developed by higher-level managers
(agency theory)
a. Vanwege private information: ze kennen hun markten en klanten beter waardoor ze
niet geloven in de strategie van top-management
b. Vanwege individuele doelstellingen
3. Have the resources needed to act with organizational goals and strategies developed by
higher-level managers
a. Resource allocation: ze krijgen niet voldoende mensen/investeringen
b. Personen zelf hebben niet de juiste talenten
Oude examenvraag: Leg de bottom-up functie uit van management controle
1.3 Firm size
Hoe kleiner een bedrijf, hoe minder belangrijk management controle is
5
, 1.4 Management and control
Management control is een onderdeel van overall managerial function
Wat is management? aspecten zijn:
1. Planning: investeringsbeslissingen, strategische beslissingen
2. Organizing: zodat wat gepland is, ook uitgevoerd kan worden
3. Staffing
4. Leading: iedereen in de richting van de plannen sturen
5. Controlling: vaststellen of we plannen op de juiste manier aan het uitvoeren zijn en zo niet:
bijsturen à zwaartepunt van management control
1.5 Accounting and control
Management control is een activiteit die gebruik maakt van management accounting information
Accounting:
- Financial accounting: externe rapportering
- Management accounting: interne rapportering
à link met controle: kennis niveau: waarom zetten we management accounting rapporten op? 3
redenen:
1. Voorraadwaardering en winstbepaling: financial accounting à niet relevant hier
2. Aansturing van bedrijf
3. Decision making
Redenen voor een sterkte connectie tussen management accounting en management controle
1. Het belang van geld als overall maatstaf van organizationale controle
2. Het belang van organizationele accounting systemen om de informatienoden van
organizationele belanghebbenden te voldoen
6
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