600426 FINANCIAL CONTROL ASSIGNMENT (Words count 2500 words)

2023/2024

Financial Control

TITLE: 600426 FINANCIAL CONTROL ASSIGNMENT

DEADLINE:

Learning objectives assessed:

1. To consider the various factors that impact on effective internal management control.

2. To explore the impact of organisational structure on the control dimension.

3. To critically examine the impact of behavioural issues on management decision-making in an international business context.

4. To appraise and evaluate management performance and reward systems.

Assignment

“Although action controls are commonly used in organizations, they are not effective in every situation. They are feasible only when managers know what actions are (un)desirable and have the ability to ensure that the (un)desirable actions (do not) occur.

Other forms of control, personnel controls, are designed to make it more likely that employees will perform. the desired tasks satisfactorily on their own because the employees are experienced, honest, and hard-working and derive a sense of self-realization and satisfaction from performing tasks well. Related, cultural controls exist to shape organizational behavioural norms and to encourage employees to monitor and influence each other ’s behaviours. Action, personnel, results and cultural controls are part of virtually every management control system (MCS). Results control focuses on influencing behaviour of employees toward achieving a predetermine organisational results. In most organizations, management use combinations of action control, personnel control, cultural control and results control to achieve their desire goals.

Assignment Questions

1. Using appropriate examples from a multinational company (MNC) of your choice, discuss the advantages and disadvantages of using the following control mechanism in their operations (a) action control (b) personnel control (c) cultural control or (d) results control

(Please note you are only expected to select three types of controls from the four) Please the following are required in answering question 1

(i) Your answers should be organised under the following three sections (a) action control (b) Personnel control and (c) results control or (d) cultural control

(select the three types of control you want from the list of four types of control)

(ii) (ii) Use only one company in answering all parts of question 1.

(iii) (iii) You are expected to discuss a minimum of three points under each section in (I).

20 marks for each 3 type of control = 20marks x 3

(60 marks|)

2. Good control is said to take place when there is a “high” probability that the firm’s objectives will be achieved and a “low” probability that major unpleasant surprises will occur. Therefore, MNC’s need to tighten all sections of their control systems to minimize failures.

Using the example from a company of your choice discuss the measures that are needed to tighten (a) Action controls of the company and (b) Result controls of the company

20 marks for each part = 20marks x 2 (40 marks)

Total overall marks (100 marks)

Tips: You may want to include illustrations from a case study to support your discussion as well as make references to the latest researches conducted in these or related areas of management control systems.

Marks will be awarded for evidence of wider reading (which includes the most up to date research on the functions of internal audit department from top-ranking journals as suggested above). A high standard of academic referencing using the Harvard system is expected.

GRADING CRITERIA:

This grading criterion is designed to give your insight into what is expected concerning academic achievement at each grading classification level used on this module.

(i) Excellent outcome: 1^st 70%+

Discussed all of the critical and key information related to each part of questions in a logical, analytical and reflective manner. And, able to include a relevant case study of a chosen MNC (Multinational company) which critically illustrates the advantages and disadvantages of (a) action control (b) personnel control (c) culture control or (d) results control. Application of knowledge and in-depth discussions/analysis is required in answering the both questions one and two. Also, a candidate needs to show the excellent breadth of research on wider ranges of control systems and tighter control methods use by MNC’s in different situations and their advantages and disadvantages. To achieve excellent marks, your arguments in all two questions should be convincing and logically presented with very minimal grammatical or spelling errors. Excellent references are required throughout the work. |Thus, discussions and presentations of the assignment should be near professional standards.

(ii) Above-average outcome: 2:1 60-69%

Discussed all most of the critical and important information related each part of the questions in a logical and analytical manner. And, able to include a relevant case study of a chosen MNC (Multinational company) which critically illustrates the advantages and disadvantages of (a) action control (b) personnel control (c) culture control or (d) results control. Application of knowledge with some very good discussions/analysis is required in answering both questions one and two. Also, a candidate needs to show the very good breadth of research on wider ranges of control systems and tighter control methods use by MNC’s in different situations and their advantages and disadvantages. To achieve very good marks, your arguments in all two questions should be convincing, and very well presented with very few grammatical or spelling errors. Very good references are required throughout the work. |Thus, discussions and presentations of the assignment should be in a very good standard.

(iii) Average outcome: 2:2 50-59%

Discussed some key information related to each part of the questions and able to include some relevant case study of a chosen MNC (Multinational company) which mostly illustrates the advantages and disadvantages of (a) action control (b) personnel control (c) culture control or (d) results control. A good application of knowledge with some good discussions/analysis is required in answering both questions one and two. Also, a candidate needs to show the good breadth of research on wider ranges of control systems used by MNC’s in different situations and their advantages and disadvantages. To achieve good marks, your arguments in all two questions should be at least average, and well presented with some few grammatical or spelling errors. Good references are required throughout the work.

(iv) Satisfactory outcome: 3^rd 40-49%

Satisfactory information related to the question and able to include some relevant case study of a chosen MNC (Multinational company) which usually illustrates the advantages and disadvantages of (a) action control (b) personnel control (c) culture control or (d) results control. Satisfactory application of knowledge with some average discussions/analysis is required. Also, a candidate needs to show the limited breadth of research on wider ranges of control systems use by MNC’s in different situations and their advantages and disadvantages. Your arguments should make some sense, and the presentation should not be below average. There are several grammatical or spelling errors with below-average references throughout the work.

(v) Unsatisfactory outcome: Fail 0-39%

Lack of discussion of some relevant information related to the question, with no evaluation of the control systems thus (a) action control (b) personnel control (c) culture control or (d) results control. Showed no breadth of research on how each control systems are applied by MNC’s in their operations. Overall, the work is poorly structured with little or no sense. Also, there is no logical presentation of work, poor referencing, poor discussions with poor examples. Presentation of assignment is of a very poor standard. Consistent errors of grammar and spelling which may detract from the overall clarity of meaning.