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Management Accounting - Assignment Example
The management accounting control systems (MACS) of Theatre Calgary (TC) proposed by McCabe can be evaluated using Simons' levers of control theory. If the MACS address the driving levers of business strategy at TC, then the systems could be deemed sufficient…
Vision matched the idealism of TC's founders (students of a great drama teacher).
Vision also reinforced the mission "to entertain our audiences with plays produced from the Canadian and international repertoires, and to develop the theatrical community." Mission and vision are summarised in Principles that combine artistic excellence, financial stability, and organisational sustainability.
Objectives are clear, developed and refined with inputs from everyone (Board all the way to customers). Annual strategic and budget planning sessions inspire commitment to TC's purpose, core values, and vision. TC is in a creative business and has a system in place to get inputs from the creative/production side, including inputs to the budgets and planning system.
However, there is no clear answer to "how does TC create value for customers" beyond the sentimental ones (tradition, legacy, culture, etc.). TC has to think of a better answer to the question, because this would help solve its revenue-generation problem.
McCabe had an ambitious performance goal: increase subscribers threefold. Backed this up with performance standards, codes of conduct, and incentive systems to motivate, inform, and align staff with the organisation's objectives. ...