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Problem definition: Merchant commodity and energy production assets operate in markets with volatile prices and exchange rates. Plant closures adversely affect societal entities beyond the specific plant being shut down, such as the parent company and the local community. Motivated by an aluminum producer, we study if mitigating these hard-to-assess broader impacts of a shutdown is financially viable using the plant's operating flexibility. Academic/practical relevance: Our social commerce perspective toward managing shutdown decisions deviates from the commonly used asset value maximization objective in merchant operations. Identifying operating policies that delay or decrease the likelihood of a shutdown without incurring a significant asset value loss supports socially responsible plant shutdown decisions. Methodology: We formulate a constrained Markov decision process to manage shutdown decisions and limit the probability of future plant closures. We provide theoretical support for approximating this intractable model using unconstrained stochastic dynamic programs with modified shutdown costs and explore two classes of operating policies. Our first policy leverages anticipated regret theory, and the second policy generalizes, using machine learning, production-margin heuristics used in practice. We compute the former and latter policies using a least squares Monte Carlo method and combining this method with binary classification, respectively. Results: Anticipated-regret policies possess desirable asymptotic properties absent in classification-based policies. On instances created using real data, anticipated-regret and classification-based policies outperform practice-based production-margin strategies. Significant reductions in shutdown probability and delays in plant closures are possible while incurring small asset value losses. Managerial implications: A plant's operating flexibility provides an effective lever to balance the social objective to reduce closures and the financial goal to maximize asset value. Adhering to both objectives requires combining short-term commitments with external stakeholders to avoid shutdown with longer-term internal efforts to reduce the probability of plant closures. [ABSTRACT FROM AUTHOR]

The management control system in an industry is managerial, directional, hindrance, and cohesive action in order to cohere and regulate various branches and sub-branches. In fact, it is a system that supports the real state of matters in the right way. This method is intended at assuring that the purposes and activities carried out have the desired outcomes and eventually lead to the objects and purposes of the company. In this matter, the financial and non-financial management control system is essential both when it comes to strategy community; Consequently, in this paper, the management control system is classified into financial and non-financial categories because such analysis gives a chance to get a broad assessment of a management control system relationship in organizations. In this paper, we evaluate the relationship between business strategy and management control system and their influences on financial performance measurement of a manufacturer (a case study of Maral Co.) with the use of Merchant’s theory. Furthermore, In this case, a decision-making strategy centered on the FMEA is used to identify and prioritize risk factors financial of the control system in companies. Nevertheless, because this strategy has some significant limitations, this research has presented a decision-making approach depending on Z-number theory. For tackle, some of the RPN score’s drawbacks, the suggested decision-making methodology combines the Z-SWARA and Z-WASPAS techniques with the FMEA method. The findings reveal that in the non-financial management control system element, customer satisfaction, and in the financial component, cost standards are at the largest level of weight. Furthermore, the strategic planning factor with a rate of 2.95 and the deviation analysis factor with a rate of 2.87 is at the lowest level, respectively. In sum, market or industry changes are the primary cause of risk in businesses, according to FMEA methodology and the opinions of three professionals.

The management control system in an industry is managerial, directional, hindrance, and cohesive action in order to cohere and regulate various branches and sub-branches. In fact, it is a system that supports the real state of matters in the right way. This method is intended at assuring that the purposes and activities carried out have the desired outcomes and eventually lead to the objects and purposes of the company. In this matter, the financial and non-financial management control system is essential both when it comes to strategy community; Consequently, in this paper, the management control system is classified into financial and non-financial categories because such analysis gives a chance to get a broad assessment of a management control system relationship in organizations. In this paper, we evaluate the relationship between business strategy and management control system and their influences on financial performance measurement of a manufacturer (a case study of Maral Co.) with the use of Merchant's theory. Furthermore, In this case, a decision-making strategy centered on the FMEA is used to identify and prioritize risk factors financial of the control system in companies. Nevertheless, because this strategy has some significant limitations, this research has presented a decision-making approach depending on Z-number theory. For tackle, some of the RPN score's drawbacks, the suggested decision-making methodology combines the Z-SWARA and Z-WASPAS techniques with the FMEA method. The findings reveal that in the non-financial management control system element, customer satisfaction, and in the financial component, cost standards are at the largest level of weight. Furthermore, the strategic planning factor with a rate of 2.95 and the deviation analysis factor with a rate of 2.87 is at the lowest level, respectively. In sum, market or industry changes are the primary cause of risk in businesses, according to FMEA methodology and the opinions of three professionals. [ABSTRACT FROM AUTHOR]