Balancing the need for innovation with the need for control has been a challenge for Tom since you first alerted Tom to the importance of business planning. With Sun City Boards’ expansion into e-commerce and custom manufacturing, the potential for fraud, human error and ineffective execution has increased significantly. Tom is planning on implementing a balanced scorecard system and has asked you to prepare a briefing for the management team to kick off the initiative. He particularly wants to avoid any miscommunication that might sabotage or complicate acceptance of more formal controls at Sun City Boards (as illustrated in the Communications and Management section of your course).
- Review the What Does Control Mean in the Business Setting, The Control Process and Levels of Controls sections of the Control module with Tom’s request in mind.
- Develop a one-page briefing document that includes an introductory paragraph, a paragraph for each section summarizing the relevant learning and a closing paragraph that summarizes why controls matter to Sun City Boards.