CHAP 1 - 5

1. Kiểm soát quản lý cần thiết (3 cái): lack of direction, personal limitation, lack of
motivation

Management control is necessary in any organization to ensure that employees act in ways
that help achieve organizational goals. Without proper control systems, there is a high risk of
performance issues. There are three key reasons why management control is essential:

1. Lack of Direction: Employees may not clearly understand what is expected of them.
Without clear goals, roles, or performance standards, they may act inconsistently or
make poor decisions. Effective control provides guidance, rules, and communication
to align behavior with company objectives.
2. Lack of Motivation: Even when employees understand what they are supposed to do,
they might not be motivated to perform. They may act in self-interest, avoid effort, or
misuse resources. Management control systems such as incentives, performance
evaluations, and supervision help encourage goal-congruent behavior.
3. Personal Limitations: Employees may not have the skills, knowledge, or capacity to
carry out tasks effectively. This can result from poor training, unsuitable job design,
or being promoted beyond their abilities. Management control addresses this through
proper recruitment, training, and job assignment

In conclusion, without addressing these three problems—lack of direction, lack of

motivation, and personal limitations—organizations face a high risk of failure. Therefore,
management control is not optional but critical for long-term success.

2. Hiểu về kiểm soát và quản lý nói chung, nguyên nhân dẫn đến hạn chế trong
kiểm soát

Management control is the process by which organizations ensure that employees behave in
ways that support the company’s goals and strategies. It includes various tools such as action
controls, results controls, and people-based controls. The aim is to influence behavior so that
desired outcomes are achieved.

However, control systems are not always effective due to several limitations, mostly related
to human behavior:

- Lack of Direction: Employees may not understand what is expected of them.

Without clear communication, their actions may not align with organizational goals.

- Lack of Motivation: Even if employees know what to do, they might not be
motivated to perform well—especially if personal goals differ from company
objectives.

- Personal Limitations: Some employees may lack the skills, training, or experience
required to meet expectations, which affects performance.

These issues show that management control is not just about measuring results—it must also
consider behavior, motivation, and capabilities. Effective control requires the right balance
between structure, communication, and support.
 3. Phân biệt quản lý và hình thành chiến lược… Quản lý có thể chia theo các mục
đích khác nhau

Management and strategy formulation are both crucial parts of running an organization, but
they play different roles.

● Strategy formulation is about deciding what goals the organization wants to achieve
and how to use resources effectively to reach those goals. It focuses on the long-term
direction and is mostly the responsibility of top management.
● Management, on the other hand, refers to organizing, directing, and controlling
resources and people to achieve the organization's objectives. It includes many
ongoing tasks to keep operations running smoothly.

Management can be divided into three main purposes:

1. Objective setting – defining what the organization wants to achieve.

2. Strategy formulation – choosing how to achieve those objectives.
3. Control – checking whether the organization is on the right track and making
corrections if needed.

In short, strategy sets the direction, while management ensures the direction is followed.
Quản lý và hình thành chiến lược đều là những phần quan trọng trong việc điều hành một tổ
chức, nhưng chúng có vai trò khác nhau.

● Hình thành chiến lược là quá trình xác định mục tiêu dài hạn mà tổ chức muốn đạt
được và cách sử dụng hiệu quả các nguồn lực để đạt được mục tiêu đó. Việc này
thường do cấp quản lý cao nhất đảm nhận.
● Quản lý là quá trình tổ chức, điều phối và kiểm soát các nguồn lực và con người để
đảm bảo đạt được mục tiêu đã đề ra. Nó bao gồm các hoạt động hàng ngày để duy trì
hoạt động trơn tru của tổ chức.

4. Bản chất kiểm soát quản lý

Management control is the process by which managers ensure that organizational

members behave in ways that are consistent with the organization’s goals and
strategies. It is fundamentally about getting done what management wants to be done, by
influencing employee behavior in desirable and goal-congruent ways.

It involves encouraging, enabling, or even compelling individuals to act in the best

interests of the organization. This is achieved through a variety of formal and informal
mechanisms such as performance targets, action guidelines, incentive systems, and
organizational culture.

5. Hiểu thế nào là nguyên tố phát hiện (detector/sensor) rồi đánh tín hiệu cho bộ
phận chịu trách nhiệm đánh giá (theo tiêu chuẩn đánh giá thể hiện kỳ vọng của
nhà quản lý)

In a management control system, a detector (also known as a sensor) plays the crucial role of
monitoring performance. Its main function is to gather information about what is happening
 within the organization. For example, detectors can take the form of performance reports,
direct supervision, data collection systems, or feedback from customers.

Once the detector collects data, it sends a signal to the next element of the control system: the
assessor. The assessor is the part of the system that compares actual performance with a
predetermined standard—which reflects the expectations or objectives set by management.
These standards could be financial targets, quality levels, deadlines, or any other performance
indicators.

This flow of information—from detector to assessor—is essential. It allows managers to

identify whether performance is on track or if corrective action is needed. Without an
accurate detector, managers would lack the necessary input to evaluate performance or make
informed decisions.

Trong hệ thống kiểm soát quản lý, nguyên tố phát hiện (detector/sensor) là bộ phận có
nhiệm vụ thu thập thông tin về hoạt động hoặc kết quả thực tế trong tổ chức. Ví dụ: các báo
cáo hiệu suất, giám sát trực tiếp, hệ thống dữ liệu, hay phản hồi từ khách hàng.

Thông tin này sau đó được truyền tới bộ phận đánh giá (assessor), nơi sẽ so sánh hiệu
suất thực tế với tiêu chuẩn đã đặt ra (phản ánh kỳ vọng của nhà quản lý). Tiêu chuẩn này
có thể là doanh thu, chất lượng, tiến độ, v.v.

Việc phát hiện và truyền tín hiệu đúng là bước đầu tiên quan trọng để đảm bảo toàn bộ quá
trình kiểm soát hoạt động hiệu quả.

6. Các kiểm soát đều phải bao gồm các nhân tố phát hiện/đánh giá/ hiệu ứng + ưu
nhược điểm các loại kiểm soát

Control Type Detection Factor(What Evaluation Basis(What is Behavioral Effect(How it

is monitored?) compared?) influences behavior)

Results Control Outcomes and Actual results vs. preset Motivates through
performance data (e.g. targets performance-based
sales, cost, profit) rewards/punishments

Action Control Employee actions and Actual behavior vs. Guides and constrains
adherence to procedures expected actions/process behavior to follow
approved steps

Personnel People’s skills, attitudes, Personal attributes vs. Promotes self-regulation

Control and qualifications job/role requirements through capability and
commitment

Cultural Control Group behavior and Alignment with company Shapes behavior through
shared norms values and informal shared beliefs and peer
expectations influence

7. Các loại kiểm soát: result, action, person, culture control + ưu nhược các loại
Control Main How It Is Example Advantages Disadvantages
Type Objective Implemented/H
ow to do it

1. Ensure Set clear goals, Sales staff - Behavior can be - Often less than perfect
Results desired measure receives influenced while indicators of whether
Control outcomes/re performance, link bonus for allowing significant good actions have been
sults are to meeting autonomy. taken
achieved rewards/punishm revenue - They yield greater - They shift risk to
ents targets employee employees (because of
commitment and uncontrollable factors).
motivation Hence, they often
- They are often require a risk premium
inexpensive for risk averse
employees
- Sometimes
conflicting functions:
+ Motivation to achieve
target should be
“challenging”
+ Communication
among entities: targets
should be slightly
conservative

2. Ensure Set rules, Accountant - The most direct - Only for highly
Action employees procedures, must follow form of control routinized jobs
Control follow approvals, 3-step - Tend to lead to - May discourage
specific monitor actions approval documentation of the creativity innovation,
desired process for accumulation of and adaptation
actions or payments knowledge as to what - May cause sloppiness
procedures works best: - May cause negative
organizational attitudes
memory - Sometimes very
- An efficient way of costly
coordination

3. Build Careful Train new - Encourages - High time and cost

Personn capable, recruitment, employees ownership investment
el responsible training, on technical - Suitable for - Slow impact, hard to
Control employees empowerment, and ethical complex/creative measure effectiveness
who self- ethical culture standards work
regulate
4. Shape Build strong Employees - Long-term - Takes time to develop
Cultura behavior corporate culture, arrive on commitment - Hard to measure or
l through promote shared time because - Low need for adjust once established
Control shared beliefs and peer the company formal supervision
values and influence culture
norms emphasizes
discipline

8. Mỗi kiểm soát biểu hiện qua cái gì

Type of Control Key Problem It How It Is Expressed / Giải thích (VN)

Solves Implemented

1. Action Lack of direction - Rules and procedures Kiểm soát bằng hành
Control (không rõ cần - Approval requirements động cụ thể, yêu cầu
làm gì) - Checklists nhân viên phải làm
- Supervision and đúng cách.
monitoring

2. Results Lack of - Performance targets Giao quyền tự chủ,

Control motivation (thiếu - KPIs nhưng gắn với kết quả:
động lực) - Bonus/incentive systems nếu đạt → thưởng, nếu
- Performance evaluation không → bị đánh giá
reports thấp.

3. Personnel Personal - Recruiting the right Tập trung vào con

Control limitations (hạn people người: tuyển đúng, đào
chế năng lực) - Training programs tạo tốt, tạo môi trường
- Value-based culture văn hóa mạnh.
- Job design

4. Cultural All three - Shared beliefs and norms Kiểm soát qua văn hóa
(Social) Control problems (tổng - Peer pressure doanh nghiệp, niềm tin
(bổ sung) hợp) - Informal communication chung, và hành vi
and storytelling nhóm.

Action control: phù hợp với môi trường cần quy trình chặt (như sản xuất, kiểm toán).

Results control: tốt cho công việc đo được hiệu suất rõ ràng (như sales, tài chính).

Personnel control: phù hợp với môi trường đòi hỏi tư duy, sáng tạo (R&D, tư vấn).
Cultural control: hiệu quả trong tổ chức lâu dài, giá trị chung mạnh (start-up, tập đoàn đa
quốc gia).

9. Hành vi phản chức năng (Dysfunctional behaviour) -> indirect cost

Dysfunctional behaviour refers to employee or managerial actions that hurt organizational
goals (làm tổn hại đến mục tiêu của tổ chức), often triggered (kích hoạt) by misaligned
incentives or poor systems (các động cơ không phù hợp hoặc hệ thống kém) — such as how
indirect costs are managed or allocated.
- Unfair Cost Allocation → Conflict & Resistance: Lead to interdepartmental
conflict, refusal to collaborate, or efforts to shift blame.
- Overuse of Shared Resources: If indirect costs are spread equally regardless of usage,
some departments may overconsume shared services.
- Budget Gaming / Misreporting (Lạm dụng ngân sách/ Báo cáo sai): Misleading data,
inefficient budgeting, and distorted decision-making.
- Avoidance of Strategic Projects: They fear higher indirect cost allocations will hurt
their department’s performance evaluation.
- Short-Term Focus: To avoid higher allocated costs, managers may choose cheaper,
short-term solutions over sustainable ones. => Reduced innovation and long-term
inefficiency.

10. Phân biệt direct cost và indirect cost

Aspect Direct Cost Indirect Cost

Definition Costs that can be directly Costs that cannot be directly

traced to a specific product, traced to a specific product
project, department, or or activity; they support
activity. multiple areas.

Traceability Easily traceable to a cost Not easily traceable to any

object (e.g., product or single cost object.
service).

Examples - Raw materials - Factory rent

- Direct labor (workers on - Utilities
production line) - Salaries of admin staff
- Manufacturing supplies - Depreciation of shared
used for one product equipment

Cost Object Directly linked to a specific Spread across multiple cost

Link item or service. objects (requires allocation).

Cost Behavior Often variable — changes Often fixed or semi-fixed

with production volume. regardless of volume.
 Accounting Charged directly to the cost Allocated to cost objects
Treatment object. using a method (e.g.,
overhead rate).

CHAP 5 - 10
11. Dùng các thước đo tài chính để kiểm soát kết quả 3 cấu thành của KSQL
Cấu thành 1: responsibility centers (trung tâm chi phí thường là phòng ban gì,
tùy ý hay kỹ thuật; trung tâm điện tử), khi kiểm soát các trung tâm cần dùng
indicator gì

In management control, a responsibility center is a part of an organization headed by a

manager who is accountable for certain activities and performance outcomes. There are four
main types:

Các loại trung tâm trách nhiệm gồm:

1. Cost (Expense) Center – Trung tâm chi phí

2. Revenue Center – Trung tâm doanh thu
3. Profit Center – Trung tâm lợi nhuận
4. Investment Center – Trung tâm đầu tư

Cost Centers – Trung tâm chi phí: A cost center is a responsibility center where the
manager is held accountable only for the costs incurred, not for revenues or profits.

Cost centers are typically support departments, such as:

● Manufacturing department (bộ phận sản xuất)

● Warehousing (kho bãi)

● Human Resources (phòng nhân sự)

● Accounting (kế toán)

● IT / Technical departments (phòng kỹ thuật, công nghệ thông tin)

● R&D, PR, or marketing (trong các trung tâm chi tiêu tùy ý – discretionary)

2. Types of Cost Centers – Phân loại trung tâm chi phí

a. Engineered Cost Centers (Trung tâm chi phí kỹ thuật)

Outputs and inputs can both be measured reliably.

● Outputs: measurable (số lượng sản phẩm, giờ làm việc, v.v.)
● Inputs: measurable in monetary terms
● Ví dụ: bộ phận sản xuất, kho vận, dịch vụ khách hàng
 ● Indicator (chỉ số kiểm soát): standard vs. actual cost, efficiency, error rates,
downtime, etc.

b. Discretionary Cost Centers (Trung tâm chi phí tùy ý)

Outputs are hard to measure directly; results are qualitative.

● Outputs: hard to quantify (chất lượng dịch vụ, hình ảnh thương hiệu)
● Inputs: measurable (chi phí đầu vào, ngân sách)
● Ví dụ: R&D, PR, HR, training, legal, strategic planning
● Indicator (chỉ số kiểm soát): budget adherence, service quality (đánh giá chủ quan),
user satisfaction

Loại Trung Tâm Trách Nhiệm Chính Chỉ Số Kiểm Soát (Indicator)

Chi phí (Cost Center) Kiểm soát chi phí đầu vào • Chi phí thực tế vs. chi phí tiêu chuẩn

Cost control Standard vs. actual cost

• Tỷ lệ hiệu suất – Efficiency ratio

• Tuân thủ ngân sách – Budget adherence

• Chất lượng dịch vụ – Service quality

• Sản lượng – Output volume

Doanh thu (Revenue Tối đa hóa doanh thu • Tổng doanh thu – Total revenue
Center)
Maximize revenue • Số lượng bán hàng – Sales volume

• Tăng trưởng doanh thu – Revenue growth

• Giá bán trung bình – Average selling price

• Tỷ lệ thu hút khách hàng – Customer acquisition

rate

Lợi nhuận (Profit Center) Tối ưu lợi nhuận (doanh • Lợi nhuận gộp/ròng – Gross/Net profit
thu – chi phí)
• Biên lợi nhuận – Profit margin
Profit optimization
• So sánh doanh thu – chi phí

Revenue vs. cost

 • Chênh lệch ngân sách – Budget variance

Đầu tư (Investment Tối đa hóa lợi nhuận trên • ROI – Return on Investment
Center) vốn đầu tư
• ROA – Return on Assets
Maximize return on
investment • ROE – Return on Equity

• Thu nhập thặng dư – Residual income

• Hiệu suất sử dụng vốn – Capital turnover

Cấu thành 2: planning và budgeting

Purpose Key Indicators

1. Strategic Thinking • % of strategic objectives with actionable

plans
• % of plans aligned with long-term strategy

2. Coordination (Top-down, Bottom-up, • Degree of cross-functional participation in

Sideways) planning
• % of aligned targets across departments

3. Top Management Oversight • Number of executive reviews conducted

• Frequency of early warnings detected and
acted upon

4. Enhancing Management Control & • % of budget targets met

Motivation • Degree of linkage between targets and
rewards
• % of managers with clear, realistic targets

Additional Indicators by Planning Level

Planning Level Additional Indicators

Strategic Planning • % of plans aligned with vision/mission

• Accuracy of long-term forecasts

Capital Budgeting • Expected ROI of approved investments

• Approval rate of major projects

Operational Budgeting • Budget variance (actual vs. planned)

 • Number of in-year budget adjustments

Budgeting Effectiveness • Planning cycle duration

• % of departments submitting plans on time

CHAP 8 - 10
12. Hệ thống đo lường và đánh giá kết quả

Measurement and Performance Evaluation System

Component Key Indicators / Methods

1. Results Measurement • Actual vs. Budget variance (revenue, cost, profit)

• KPI achievement rate
• ROI on capital projects

2. Target Setting • % of targets met or exceeded

• Target realism (challenging yet achievable)
• Target-setting method (negotiated, historical, model-based)

3. Performance Evaluation • Frequency of performance reviews

• Use of benchmarking (internal/external)
• Balanced scorecard use

4. Accountability • Responsibility center performance (cost, profit, investment centers)

• Variance explanations provided

5. Incentives and Rewards • % of incentives linked to budget achievement

• Bonus payout ratio
• Employee motivation surveys

6. Corrective Actions • Number of corrective actions taken due to negative variances

• Speed of response to performance gaps

Evaluation Dimensions (What is Evaluated)

Dimension Sample Metrics

Financial Profit margin, cost efficiency, revenue growth

Operational On-time delivery rate, production efficiency, error rate

Strategic Strategic initiative completion rate, innovation index

Behavioral Goal commitment, collaboration, information sharing

Methods Used in Evaluation

 Method Description

Variance Analysis Comparison of actual vs. planned figures

Benchmarking Comparing performance to industry or best-practice standards

Balanced Scorecard Evaluating performance across financial and non-financial

dimensions

Management by Focus only on significant variances or deviations

Exception

13. Cách đo lường kết quả

Aspect Measurement Method

1. Financial Results • Budget vs. Actual Comparison (Revenue, Expenses, Profit)

• ROI (Return on Investment)
• Cost Variance Analysis

2. Operational Results • Efficiency Ratios (e.g., units/hour, cost/unit)

• Capacity Utilization
• Process Cycle Time

3. Strategic Alignment • Achievement rate of strategic initiatives

• % of planned objectives completed
• Milestone tracking

4. Target • % of KPIs met or exceeded

Achievement • Stretch target realization
• Performance index scoring

5. Variance • Favorable/Unfavorable variances

Analysis • Root cause analysis of significant gaps

6. Benchmarking • Comparison to industry best practices

• Peer organization comparisons

7. Behavioral Metrics • Managerial commitment

 • Responsiveness to corrective actions
• Collaboration level

8. Qualitative Results • Stakeholder satisfaction (internal/external)

• Feedback from performance reviews

Indicators Commonly Used

● Financial: Profit margin, budget adherence, revenue growth

● Operational: Productivity rate, defect rate, on-time delivery

● Strategic: % of strategy execution, new product launches

● Behavioral: Goal ownership, employee engagement

14. ROI, RI, ưu nhược điểm. đưa ra chính sách khen thưởng phúc lợi

Aspect ROI (Return on Investment) RI (Residual Income)

Definition ROI = Profit ÷ Investment base RI = Profit – Capital charge

Form Percentage (%) Absolute amount ($)

Interpretation Shows how efficiently a division uses its assets to Shows value created above
generate profit the cost of capital

Incentive Effect May discourage beneficial investments if ROI is Encourages investment if

lower than current ROI project IRR > cost of capital

Alignment with Not always aligned — may lead to Better alignment with value
Corporate Goal suboptimization creation for the company

Problem Areas - Management myopia - Still affected by old asset

- Retaining old assets bias (via NBV)
- Distorted decisions on new investments - Depends on accurate capital
- Varying ROI targets across units charge setting

Data Requires accurate profit and asset values Requires WACC and detailed
Requirements capital structure info

Behavioral Focuses on improving ratio — not always real Focuses on improving actual
Influence value economic profit
Aspect ROI RI Balanced System

Pros – Easy to understand – Promotes correct – Captures both financial and

– Widely used investment decisions behavioral performance
– Comparable across – Removes ROI-related – Reduces gaming of single
units suboptimization metrics

Cons – Biased by asset age – Requires capital – Complex to implement

– Can discourage good charge/WACC – Needs robust data systems
investments – Still affected by and training
– Encourages myopic accounting distortions – Risk of inconsistency if not
behavior well calibrated

- ROI-Based Incentives
+ Bonus linked to improvement in ROI over previous year
+ Extra bonus tier if ROI exceeds industry benchmark
+ Annual recognition awards for divisions with highest ROI
+ Non-cash rewards (e.g. paid vacations) for cost-efficiency improvements
+ Promotion eligibility tied to achieving ROI targets
+ Penalty or bonus adjustment if ROI drops below minimum threshol
- RI-Based Incentives
+ Monetary bonus based on positive residual income growth
+ Extra incentives for initiating value-adding investment projects
+ Annual development budget allocated based on RI performance
+ Long-term bonus plan linked to 3-year average RI
+ Clear investment approval process rewarding proposals with RI > 0
+ Priority in receiving capital budget for divisions with high RI
- Balanced System-Based Incentives
+ Multi-component bonus:
a. 50% financial (ROI/RI),
b. 30% customer satisfaction or innovation KPIs,
c. 20% strategic initiative achievements
+ Deferred compensation based on long-term balanced scorecard results
+ Recognition program for best performers in non-financial categories
+ Stock options or profit-sharing based on overall scorecard performance
+ Personal development support (e.g., training grants) tied to behavioral goals
+ Team-based rewards for achieving cross-departmental balanced targets
+ Well-being benefits (e.g., mental health days, flexible hours) aligned with employee
engagement indicators
15. Thiển cận trong đầu tư/ hoạt động
- Investment Myopia
+ Managers may delay or avoid long-term investments that generate returns beyond the
current performance evaluation period, resulting in underinvestment.
+ This behavior is often caused by:
 ○ The conservative nature of accounting (e.g., R&D and brand-building
expenses are immediately expensed rather than capitalized).
○ The exclusion of intangible assets that primarily yield future benefits.
+ As a result, investments in innovation, customer loyalty, and human capital may be
neglected despite their strategic importance.
- Operational Myopia
+ Managers might engage in short-term revenue boosting tactics, such as:
○ Deep discounts to distributors to increase current sales (“channel stuffing”),
○ Cutting essential expenses (e.g., marketing, training, maintenance) to improve
short-term profits.
+ These actions may damage long-term relationships with customers, suppliers, and
employees—ultimately undermining firm value and sustainability.
+ Organizational culture can reinforce such behavior by overemphasizing short-term
financial results at the expense of long-term strategic alignment.
- Challenges in Detection
+ Myopic behaviors are difficult to detect because they often do not violate formal rules
and may even appear successful in the short term.
+ The subtlety and discretion involved in investment decisions make it hard for upper-
level managers to distinguish myopia from rational capital budgeting.

16. Sử dụng thước đo kết quả với những yếu tố không kiểm soát được

Key Issue Explanation Best Practice / Solution

1. External Influence Outcomes may be affected by market trends, Adjust results for external
economic shifts, inflation, competitor factors (e.g., inflation-
actions, etc. adjusted results)

2. Uncontrollable Inputs Inputs like raw material costs, exchange Use flexible budgeting or
rates, interest rates may be outside manager's relative performance targets
control.

3. Perceived Unfairness Holding managers accountable for things Combine result measures
they can’t influence reduces motivation and with behavioral or effort-
trust. based indicators

4. Short-Term vs. Long- External shocks can distort short-term Consider multi-period
Term Focus results. evaluation or rolling averages

5. Goal Congruence Risk Managers might take excessive risks or Introduce balanced scorecard
manipulate outcomes to meet targets. or weighted performance
evaluation

6. Measurement Distorted by unusual one-time events (e.g., Exclude exceptional items or

Distortion natural disaster, supply chain disruption). use qualitative adjustments
7. Lack of Full Especially in interdependent systems where Use shared goals or team-
Responsibility results depend on other based metrics instead of
departments/functions. individual ones