MBAM-101: Management Principles and Organization Behaviour – Unit 10

MBAM-101: Management Principles and Organization Behaviour – Unit 10

Objectives: explain the characteristics, elements, advantages and limitations of budgetary control; describeihe advantages and limitations of standard costing; explain the concept and limitations of break-even analysis; describe the meaning and nature of statistic quality control, and explain the meaning, advantages nnd limitations of management audit.

Materials:
The relevant material is available here.

Questions:

1. What is budgetary control? What are its advantages and limitations?
2. Define Standard Costing? How does it help in keeping the costs within control.
3. Draw a Break-even chart analysing Break-even point taking imaginary data.
4. Discuss the nature, benefits and limitations of Break-even analysis as a control tool.
5. Explain the concept of management audit.