What is a Management Control System?

A management control system is a business tool that can give an indication of ho

w well an organization is performing in accordance with its objectives.
A management control system is:
A
A
A
A

way
way
way
way

managers can document their organization's objectives

managers can document their organizational strategies or policies
to assess the performance of internal corporate processes
to show performance in relation to declared objectives and policies

This indication provides managers with the knowledge they need to take decision
s and corrective actions where necessary in their organization, and this transla
tes to management control.
Objective Controls is a management control system (MCS) that can be accessed by
any browser. It gives managers:
More corporate control
An evaluation of operational performance
A way to keep their organization on track towards its objectives
Effective management of risks and internal controls
Strategic information based on internal control monitoring
Proof of executive accountability
How Objective Controls Operates as a Management Control System
Objective Controls provides performance and risk information through the specifi
cation of strategic objectives, their associated risks and detailed internal con
trol definitions and in doing so, gives managers a powerful tool for controlling
their organization.
It does this by integrating the following components:

Strategic Objective Management

Clear documentation of the strategic goals you have set for your organization, i
ncluding mapping to risks.
See Strategic Objectives.
Risk Management
Specification of risks, their characteristics and controls for mitigation and th
eir mapping to strategic objectives.
See Risk Management.
Internal Control Management
Definition of processes that will ensure the correct execution of other processe
s, their possible outcome and their significance to the mitigation of risks.
See Internal Control Management.
Monitoring of Internal Controls
Planning and scheduling of internal control monitoring tasks, allocation of moni
toring tasks to workers, provision of monitored resources and recording of findi
ngs.
Management Reporting
Clear and simple display of critical information to management in the form of gr

aph and summary reports.

The result is a platform for management that give managers:
Insight into the validity of corporate processes in relation to their procedures
Better control of their organization
A view of how the organization is working towards its declared objectives
Proof of executive and management accountability