“Strategy formulation” is one of the most important projects of any company, but there is neither an accepted procedure to perform a “feasibility test” on the strategy, nor a definition of how to perform such a test. This article suggests that one can adopt two feasibility tests for the...

The article describes a new approach to the cost/benefit aspect of management control systems which will help managers decide which control system is worthwhile improving and how. The new concept is based on two ideas: defining the purpose of a control system as: “Triggering corrective action...