Definition

Noun: 1. A process of internal control performed by one or more managers: This refers to the systems, policies, and procedures established by an organization's management to ensure objectives are achieved, resources are used efficiently, and financial reporting is reliable. It is a subset of the broader internal control framework.

Usage Examples

• Noun:
  • Effective management control is essential for achieving strategic goals.
  • The audit committee reviewed the company's management control procedures.
  • A lack of proper management control can lead to operational inefficiencies.

Advanced Usage

• "to exercise management control": To actively implement and oversee control procedures.
  • The board must exercise strong management control during the merger process.
• "span of management control": Refers to the number of subordinates a manager can effectively supervise.
  • A wide span of management control requires highly autonomous employees.

Variants and Related Words

• Internal Control (n): A broader term encompassing all processes for achieving organizational objectives, including operational, reporting, and compliance goals. Management control is a key component of this.
• Managerial Control (n): Often used synonymously with management control.
• Controlling (n/gerund): One of the five classical functions of management (planning, organizing, staffing, leading, controlling). Management control systems are the tools used for this function.

Synonyms

• Administrative Control: Control exercised through organizational policies and procedures.
• Operational Control: Focuses on the efficiency and effectiveness of specific operations, often a part of management control.

Related Phrases

• Control Environment: The foundation for all other components of internal control, set by management's attitudes and actions.
• Management Information System (MIS): A system that provides data to support management control decisions.

Noun

1. an internal control performed by one or more managers