Define organizational control and explain why it is a key management function.
Explain the benefits of using the balance scorecard to track performance and control of the organization.
Explain the four steps in the control process .
Discuss the use of financial statements, financial analysis , and budgeting as management controls .
Contrast the hierarchical and decentralized methods of control.
Identify the benefits of open-book management .
Describe the concept of total quality management and major TQM techniques, such as quality circles , benchmarking , Six Sigma principles , reduced cycle time , and continuous improvement .
Identify current trends in quality and financial control, including ISO certification , economic value-added and market value-added systems , activity-based costing , and corporate governance , and discuss their impact on organizations.