Investigating the Effect of Implementing Effective Management Control System: The Case Study of the Pharmaceutical Industry in Lesotho

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Abstract:

The main focus of this research study is the study of the effect of an effective management control system (MCS), the case study of Lesotho pharmaceutical companies. The primary objectives of the research study were to establish ways of implementing successful MCS in Lesotho's pharmaceutical companies, exceptionally efficient control of human resources, and to evaluate the effectiveness of the execution of MCS, looking at the pharmaceutical industries in Lesotho. For this purpose, a questionnaire was designed, and a survey of thirty (30) pharmaceutical companies was undertaken. Only twenty-seven (27) pharmaceutical companies responded to the questionnaires. Needleless to say, results showed that only twelve pharmaceutical companies do not have MCS in place. Besides, there is no correlation between influential MCS and the number of pharmaceutical companies' operational years. Also, there is a weak correlation between influential MCS and employees' experience. It has been determined that pharmaceutical companies of Lesotho took 30 PCs, whereby 27 PCs responded to the questionnaires, 12 PCs have MCS in place, but 15 PCs have not implemented MCS. On the other hand, PCs are the ones that were determined to have influential MCS. We found that they perform better than the PCs that do not have MCS in place and that have partial MCS in place. Furthermore, PCs that have effective MCS realize more profits with happier clientele due to the satisfied employees who have been managed, coordinated, controlled and monitored well and employees knowing their responsibilities

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Investigating the Effect of Implementing Effective Management Control System: The Case Study of the Pharmaceutical Industry in Lesotho

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