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The Importance of Managerial Control Systems in the Framework of Economic Entities in Romania

Author

Listed:
  • Catalina SITNIKOV

    (Faculty of Economics and Business Administration, University of Craiova, Romania)

  • Carmen Maria MIHALCEA

    (Faculty of Economics and Business Administration, University of Craiova, Romania)

  • Sofia Mihaela ROMANESCU

    (Faculty of Economics and Business Administration, University of Craiova, Romania)

Abstract

Today's economy is characterized by a high degree of globalization and fierce competitive pressure, supported by increasing consumer demands and capital infusions from global financial markets. From unilateral globalization, which involved the outsourcing of production processes in regions with productive potential, to the current situation in which financial markets no longer know borders and the forces of the business environment compete with those of governments, it seems a long way, but one that has been traveled at a pace alert Energy and natural resources, as components of the economic infrastructure, remain key elements of progress, but technology and management techniques gain more and more emphasis. The management and control of industrial processes in the case of multinational companies contains a centralized component, carried out by means of control systems that allow, on the one hand, the monitoring of the industrial process itself as well as the way of managing resources. The main purpose of the article is to improve existing managerial control systems in multinational industrial organizations as well as to optimize the implementation process, to ensure quick results.

Suggested Citation

  • Catalina SITNIKOV & Carmen Maria MIHALCEA & Sofia Mihaela ROMANESCU, 2023. "The Importance of Managerial Control Systems in the Framework of Economic Entities in Romania," REVISTA DE MANAGEMENT COMPARAT INTERNATIONAL/REVIEW OF INTERNATIONAL COMPARATIVE MANAGEMENT, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 24(1), pages 21-34, March.
    • Handle: RePEc:rom:rmcimn:v:24:y:2023:i:1:p:21-34
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    References listed on IDEAS

    as
    1. Kirdina E. G. & Fedorko I. P., 2013. "Business quality management strategies," Вісник економіки транспорту і промисловості, CyberLeninka;Украинская государственная академия железнодорожного транспорта, issue 44, pages 148-152.
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    More about this item

    Keywords

    control system; management; quality; performance;
    All these keywords.

    JEL classification:

    • M12 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Personnel Management; Executives; Executive Compensation

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