In order to continue enjoying our site, we ask that you confirm your identity as a human. Thank you very much for your cooperation. What are the differences between strategic controls and financial controls, and how do they relate toorganizational structure? What is the importance of these differences?Discuss the functional structures used to implement business-level strategies.The main difference between strategic control and financial control is that strategic control includes thelong term subjective and strategically relevant criteria while financial control is based on large objectivecriteria that is used for evaluating the return on investment earned by individual business units. Strategiccontrols are very significant for the growth of the organization because it is used for tracking, monitoringand evaluating the effectiveness of the strategies that are implemented and making the necessaryadjustment, if it required. Financial controls are considered a very important and critical part of thefinancial system of the company. It includes planning, performance, evaluation and coordination offinancial activities for calculating the ROI. Generally, managers use the financial statements, operatingratios and other tools of controlling the expenditures of the company.A corporate wide emphasis onsharing among business units results in an emphasis on strategic controls while financial controls are |
What is the importance of the differences between strategic controls and financial controls?
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