Abstract
A key challenge in management is to achieve behavioral control, i.e., to ensure employees contribute effectively to a firm’s goals. Kenneth A. Merchant and Wim A. Van der Stede address this challenge through their seminal economic “object-of-control framework,” which allows us to integrate the multifaceted theoretical lenses from economics, psychology, sociology, or politics and philosophy for understanding, analyzing, and resolving management control problems—a fascinating approach and economic idea well worth remembering.
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Merchant, K. A., & Van der Stede, W. A. (2017). Management control systems. Performance measurement, evaluation, and incentives (4th ed.). Harlow: Pearson First published in 2003. ISBN: 978-1-292-11055-4.
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Weissenberger, B.E. (2019). Barbara E. Weissenberger Recommends “Management Control Systems: Performance Measurement, Evaluation, and Incentives” by Kenneth A. Merchant and Wim A. Van der Stede. In: Frey, B., Schaltegger, C. (eds) 21st Century Economics. Springer, Cham. https://doi.org/10.1007/978-3-030-17740-9_59
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DOI: https://doi.org/10.1007/978-3-030-17740-9_59
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