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What is Management Control Systems Explained about?

The document discusses management control systems (MCS). It describes MCS as focusing on implementing business strategy. Key elements of MCS include strategic planning, budgeting, performance measurement, and rewards systems. MCS builds on concepts from business strategy, organizational behavior, and accounting. Effective MCS are important for long-term company success, while lapses in controls can contribute to company failures. MCS function similarly to control systems that regulate temperature, body proc

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