MANAGEMENT CONTROL SYSTEM Definition

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MANAGEMENT CONTROL SYSTEM is essentially a strategic tool for holding managers accountable and responsible for their performance. Existence of such a system also provides feedback for managers to know how they perform, in which direction the organization is heading, and what type of course correction may be required to stay on course.

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OPPORTUNISTIC BEHAVIOUR occurs where one party takes advantage of his superior knowledge, in order to further his/her interests, by failing to disclose such information to the other party. This would occur, for example, if a supplier of widgets had information about a product which was deliberately withheld from the potential buyer, in the knowledge that such information would negatively affect the price of the product or the willingness of the buyer to purchase it.

PERTURBATION CONTROL is a restriction control to limit the access a particular user has to details in a database.  It introduces noise into the output (perturbs, or changes it) to shield the specifics of one record from the person who has only access to summary information.

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