Having winning strategies is very important for a company. Executing these strategies is the key to business. Studies have shown that most companies fail more on account of their inability to implement strategies than, perhaps, their not being able to have the right strategies. Here comes the role of management control. Under the management control system, managers play a key role in implementing the company's strategies. In fact, they influence other members of the organisation/company in executing this task. Imperfect design or inadequate implementation can even result in failure to achieve the objectives of the organisation. This keeps the managers on tenterhooks. They should have a clear understanding of the management control system. According to studies, though many organizations have been making efforts for improving their performance through conventional methods, like lower-cost, improved quality, etc., they have not identified any strategic processes. Many of them do not link their performance management systems to strategy. Current trend is that most innovative companies implement management control more effectively than their lesser innovative counterparts. This shows the need for management control and innovation. This book makes a study of the issues pertaining to management control, which will be useful for both practicing managers and students of management.