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In corporate finance, capital operation, management control, financial analysis and valuation fields, Prof. Zhang has put forward many novel perspective and formed independent academic ideological system. He teaches more than ten courses at undergraduate, postgraduate and doctoral programs, with mainly focus on financial analysis, finance theory, the study of advanced management accounting, the study of forefront issues in corporate finance, the application of accounting report, management control systems etc.

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He is also visiting professor and adjunct professor at many well-known universities, including Taiwan Soochow University, Dalian University of Technology and so on. He is also independent director of several listed companies. See All Customer Reviews. Shop Books. Add to Wishlist.

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Write a Review. Related Searches. Advanced Database Systems. Database management is attracting wide interest in both academic and industrial contexts. New application areas The needs of these application areas are far more complex than those of conventional business View Product. Complex Robotic Systems.

Robotic systems have proved themselves to be of increasing importance and are widely adopted to Robotic systems have proved themselves to be of increasing importance and are widely adopted to substitute for humans in repetitive or hazardous situations. Their diffusion has outgrown the limits of industrial applications in manufacturing systems to co ver all aspects Computer-aided Systems in Public Transport.

Coverage includes the use of computer-aided methods and operations research techniques to improve: information management; network and route planning; vehicle and crew Network control is a young discipline and yet already a considerable number of textbooks have Network control is a young discipline and yet already a considerable number of textbooks have been published on the topic. The aim of this book is to give a comprehensive description of Energy Management Systems EMS from the operator's point Moreover, transition periods in family businesses can also have implications for the use of management control systems MCSs , because one of the ways for a company to survive in complex and uncertain environments is to understand the role of such systems in creating a competitive advantage Simons, ; Widener, The boundaries play a more constraining role, aiming to minimize risks.

The diagnostic use represents the management controls traditionally used, while the interactive use focuses on the strategic uncertainties by means of the adoption of emerging strategies. For Bruining, Bonnet, and Wright , the structure of the LOC model presents important variables from the literature to achieve the strategy. In the search to understand how the MCSs contribute to improving performance by aligning themselves with the strategy, Contingency Theory Chenhall, , among other theories, is used. The context of the study is a large-sized business from the Brazilian footwear and textiles segment, a sector that is under constant strategic renovation Bruno, Considering the above, the study explores how the innovation process occurs in a family business and how the MCSs carry out the interface with this process in order to make viable the successful implementation of the differentiation and innovation strategy.

Thus, the aim of the study is to analyze how the interface occurs between the use of MCSs and strategy and performance measures in a family business, from the perspective of Contingency Theory. Using the results of this study, the aim is to contribute to the literature on family businesses by examining concepts of the LOC framework Simons, in the perception of family-member managers from the two different generations father and sons.

Another point is to understand how the MCSs, especially the use of the belief systems and interactive systems, are revealed in a large-sized family business in the process of transitioning and where there are two generations in command. Studying a family business that adopts an innovation strategy can indicate empirical evidence about the continuity and permanence of company control.

The article begins with this introduction. Next, the literature review and the research assumptions are presented.

Enterprise Management Control Systems in China

Then, the methodological procedures are addressed, followed by the description and analysis of the results, and finally, the closing remarks and recommendations of the study. The literature review considers the interface between MCSs and strategy and performance measures in family businesses, by pondering that the contingency factors of a MCS are designed so that it is not a universal system, but rather one that should be adapted to a specific context Otley, However, the results of the study by Bisbe and Otley do not support the principle that the interactive use of MCSs favors innovation.

Patel and Chrisman found that family businesses are able to reconcile economic and non-economic objectives, investing in innovation in a more consistent way and with reduced risk, with the aim of increasing sales. The LOC framework Simons, for MCSs is structured around beliefs systems, boundary systems, diagnostic control, and interactive control. Beliefs systems represent a set of concepts around which the organization defines its fundamental values and principles. For Widener , the beliefs system communicates fundamental values, with the aim of inspiring and motivating the collaborators to research, explore, create, and develop appropriates actions.


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Carlock and Ward recommend that the family members discuss with the management team the values, aims, strong and weak points, threats, and potential opportunities. This collaborative process establishes a shared vision of the strategic objectives. When families establish a business, predominant beliefs and norms tend to be passed on to the business. Thus, one characteristic that distinguishes family businesses from non-family businesses is that they inherit or convey beliefs and norms as part of their social structure Gersick et al.

Operationally, this control system is implemented via a code of conduct, ethical code, and strategic planning systems formalized and instituted via internal mechanisms that enable access for all interested parties. The involvement of the first and second generations in the management of the business enables the transmission of knowledge and experience, since this concerns business knowledge, norms, principles, and values, which are precepts of the family unit Gersick et al.

These arguments provide the basis for the following assumption:. Assumption 1: the belief systems and boundary systems enable the implementation of the differentiation and innovation strategy in the family business. Diagnostic control systems, according to Simons , are formal information systems that managers use to monitor organizational results and correct deviations Chenhall, from preestablished performance parameters that can also be used as a strategic control.

This system seeks to stimulate organizational learning to explore strategies emerging in times of change or crisis, especially when organizations seek to redefine their guidelines.

Simons and Marginson discovered a positive association in the relationship between diagnostic controls and interactive controls and business strategy. Widener found a positive and consistent association between diagnostic controls similar to formal controls and innovation in businesses that are highly inclined towards learning.

Acquaah found an influence of the use of MCSs on business strategy in family businesses. Bedford, Malmi, and Sandelin analyzed the interdependences between management control practices and defensive and prospective businesses. The results showed that the efficiency of diagnostic controls and interactive controls is determined not only by the adjustment to the strategic context, but also by how well they fit each other.

Nisiyama et al. The results indicated that the diagnostic use of MCSs was positively associated with cost reduction objectives. Moreover, the interactive use of MCSs was positively associated with the objectives of launching new products. Based on the premises of the literature, the following theoretical assumption is made:. Assumption 2: the interface between the MCSs and the business strategy is facilitated by the use of interactive management controls adaptation to the environment and diagnostic management controls implementation of the strategy in the family business.

Contingency Theory can be used to explain and predict the conditions under which MCS use is associated with performance measures Chenhall, The main problems that can occur with the lack of operational controls include loss or impairment of assets, loss of revenues, excessive costs, imprecise reports and records - which can lead to unproductive measures - and legal sanctions or interruptions to business.

For Henri , managers use performance measures in both controls, interactive and diagnostic, and aim to improve organizational capacities. Family businesses, as well as other organizations, require financial and non-financial information to establish a viable revenues and costs structure. In this context, it follows that understanding the process of use and interface of MCSs in the management of a family business, from the perspective of Contingency Theory, contributes to the understanding of how and why organizations promote a competitive strategy and, consequently, seek better performance, guaranteeing sustainability and survival for the following generations.

The arguments provide the basis for the following assumption:. Assumption 3: the MCSs diagnostic and interactive enable the decision-making processes with the use of financial and non-financial performance measures in the family business. The study is characterized as a case study. The purpose of a case study is to get to know an organization and understand, in depth, the hows and whys of the occurrence of certain phenomena, showing their identity and own characteristics in the aspects of interest to the researcher Yin, The case study option enabled the interface to be identified between the MCSs, the strategy, and the performance measures in the family business.

The choice of the case in this study came about based on its relevance. For the case selection, empirical evidence was initially sought of information related to family businesses that featured innovation as a company challenge and were located in the South Region of Brazil.

The chosen case represents a family-owned group of large-sized companies, whose industrialized products require investment in technology and innovation. Table 1 presents the categories, the subcategories, and the authors that form part of the construct.

It is understood that the authors and the categories in Table 1 reflect the theoretical position followed by the study. However, as a case study is concerned, the data collection and analysis tools were fundamental for understanding the meaning and the experience of the managers in the chosen categories. The information needed for the research was laid out in a case study protocol.

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A Chinese Approach to Management

The procedures used to collect the data in this study were interviews, documents, and observation. Regarding the typology of the interviews, a previously established semi-structured script was followed, but with the freedom to adapt the questions to the investigative context, with support from the literature and assumptions that emerged as the information was reported.

For example, questions that included the emergence, evolution, and milestones of the company were regrouped, and the interviewees used institutional material at the same time as they addressed the subject, and they showed images and photos, reporting all the points of the interview.