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The Management Control System for the World of Management 2.0
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The Management Control System for the World of Management 2.0

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  • 1. Advanced Management Insight The Management Control System for the World of Management 2.0SynopsisBecause it is universally integrated and socially aware, Web 2.0 provides a revolutionary opportunity to create a system formanaging business performance in the form of a neural network of people and information, self-aware, self-monitoring, and self-correcting. This white paper describes principles currently used for organizational management versus the highly integratedopportunity for an advanced management system available in the world of "Management 2.0." It is excerpted from oursubmission to the McKinsey/Harvard Business Review Challenge: “What new management practices can Web 2.0 tools andtechnologies enable?”The Challenge and OpportunityLeveraging human capital, best practices, quality assurance (QA) and Six Sigma techniquesis a critical success factor for any business. Whatever management control system (MCS) isused for Management 2.0, ideally it must be simple to implement, as simple as setting up aspreadsheet or checklist. This introductory narrative describes the ideal managementsystem for any business, the constraints that keep us from implementing it today, and someof the potential critical success factors.Goals and Objectives of an Ideal Management SystemThe management control system (MCS) of a business governs collection and flow ofinformation and also acts to set standards for governance, control, and visibility of businessdata. It is meant to ensure the proper flow and use of information upward to variousmanagement levels. It is also meant to serve the purpose of being a conduit of downward-and-across goals, objectives, standards, best practices, and governance andcommunications.Top executives understand that the design and execution of the management system is oneof the few ways in which they can effectively direct the energy of their business. The goalsand objectives of the ideal management system, and the underlying requirements for ourvision of “advanced management insight,” include the following: Provide information flow through the organization to enable visibility and governance Provide true insight by including human feedback, judgment, perspective Provide properly distilled key information to all levels of management to provide managers and executives visibility into operations Allow upper management to advise and consult with lower and peer management Provide risk assessment and governance facts and warnings Make available a common data platform for all management use Provide a common language of facts and rules for governance of the company Drive a fact-based culture and reduce anecdotal and story-telling management practices Build a historical repository of operational data and facts, and a consistent audit trail Spread knowledge and best practices and validate their degree of execution