Abstract
The complexities of managing multinational corporations (MNCs) have been increasing over a period of time. Developing a new controlling model for MNCs is critical and is required for their effective management. This paper analyses the ‘evolutionary theory of multinational corporation’ as well as the ‘business network theory’. Exploring the ‘Evolutional model of controlling’ based on multi-factor analysis, the paper examines the assumptions of the controlling concept, and wherever possible, redefines them. It extends the approach by incorporating additional functions and features including reverse knowledge transfer and measuring controlling effectiveness. Additional indirect parameters for the effective measurement of controlling are analysed. The drawbacks of controlling are mentioned and gaps are identified to develop a new model of controlling. The newer model is based on management approaches, decision making theory and an analogy of the human nervous system.
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