Management Control System of a Bank

MANAGEMENT CONTROL SYSTEM ASSIGNMENT By O S Mukundan 08BS0002087 impression OF VARIABLES AND KEY VARIABLES In an transcription, a variable is considered as an banausic indicator of any occupancy activity, whose sudden and unpredictable spay warrants immediate action by the management. The nature of task, the technology and the surroundings in which the organization operates are the factors which greatly influence the designation of variables. An important function of an variable is that they indicate to the management the unavoidableness for prompt action. A conductor should refer a hardly a(prenominal) variables that are crucial to the attainment of strategy, goals and objectives of the organization. Once they sop up identified, the manager squeeze out rely on these variables to monitor business activities and terrific the organization to the changes in business surroundings that could operatively act the attainment of management goals. The top management should analyze the reasons for significant changes in the variables on a continuous basis. Some examples of variables intromit profitability, market position, productivity and employee attitude. Now, a divulge variable is a broader term in terms of the indicators of any significant business activity.

Any change in its value is expected to have an impact on the performance of the organization. It is the responsibility of every organization to identify key variables as they are true indicators as to the likely success or failure of the business. The nature of key variables differs from organization to organization depending on the nature of the task, the technology and the environment of the organization. Key variables have certain characteristics that help the manager to identify them. However the actual selection of key variables requires a sodding(a) understanding of the business, its operational environment and management goals. The management can identify key variables either for the whole organization or for the major centers of... If you want to get a full essay, severalize it on our website: Orderessay

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