BENEFITS AND LIMITS OF THE MANAGEMENT CONTROL SYSTEM IN ROMANIA

Any public or private entity wants to build its management system that allows the implementation of its own strategies and policies, thus ensuring the fulfilment of its mission and the vision through the rational use of (often limited) resources and at the same time the satisfaction of stakeholders' requirements. Business development and diversification, business performance in a turbulent, interconnected and globalized economic system, diversification of management techniques have generated the interest in control. Thus, the management control activity becomes an important step that generates multiple benefits to all organizations to the extent to which they are prepared to develop systems and procedures according to legal procedures and standards, but also adaptable to the environment. Control is the activity that provides a company management with real and preventive dynamic information which gives value and quality to the decisions made. The management control activity provides managers with the opportunity to identify real issues as it captures the substance of phenomena and the ability to define a scientific and efficient management system. To the extent that control is not limited just to finding the negative elements but also to identifying and predicting the way an activity is carried out, it can determine the maximization of advantages and the prevention of phenomena that require corrective decisions.