How modern controlling can create a competitive advantage for General Electric’s Global Operations business unit?

In my thesis, I am looking for the answer to the question of what the relationships between strategic management and the controlling system are. I consider it important to analyze how strategic controlling can contribute to the success of businesses.

!!!I will recommend BALANCE SCORECARD as the best modern controlling way.!!!

The thesis has three main goals:
summarizes the theoretical background of strategy management and the controlling system and its development directions with the help of the available literature,

demonstrate and evaluate the role of the controlling system in the effective implementation of the strategy through the practical example of the business unit of General Electric Global Operations team,

give a recommendation to the studied division on how to increase the effectiveness of the applied controlling system.

My choice of topic is justified by the fact that as the former Project Coordinator of the business unit under consideration, my task was to ensure that the projects implemented by the unit serve the implementation of the strategy in an appropriate way, to monitor the implementation of projects throughout the life cycle of the projects and to deal with any discrepancies that may arise. A unified system of strategic management, strategic controlling and operational controlling can help with this.

Planning, and with it the monitoring of the realization of plans, is an integral part of the company’s operation. Companies set plans based on information and strategic goals, which are occasionally taken out to determine how well they have been met.

A company that has no strategy fails. However, organizations that cannot ap-ply their strategy in practical implementation cannot survive in the long run. In our fast-paced world, modern controlling should provide effective assistance in implementing strategies. In the information age, many of the basic assumptions of competition in the industrial era are no longer applicable. Companies face the challenge of focusing on the elements that matter most from the diversity of operations that have the greatest impact on corporate success.

Almost every company has a strategy. Itis only then that there is a commercial benefit to what we need to do to make the strategy a reality and achieve its financial goals. In order to achieve the goals, not only managers need to think strategically, but also at all levels of the corporate hierarchy, in all functional areas.

Controlling is closely related to the management of organizations, it includes planning and control elements. Both in planning and during control, it is important to have information that is appropriate for decision-makers, which in this case is based primarily on the monetary expression of the operational processes of companies, accounting. As part of this, controlling is responsible for the cost and performance calculation system built according to the information needs of managers. The task of controlling is to enforce the result orientation in the case of cessions within the organization, to connect the daily decisions with the market and business success of the organizations.

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