Management control is management accounting (cost centre control, business control). It sits in between strategic planning (at the top) and operating control / tasks control (in the bottom).
Operating control is about internal control. This to ensure day to day operations are done in accordance with the rules and regulations (internal or external), for examples rules of segregation of duties for critical tasks - a simple example would be the person to records invoice in an ERP system should not be the same person approving it.
For management control to be effective, there needs to be clear financial responsibilities defined in the structure of the organisation. This comes in the form of discretionary cost centre, standard cost centre, revenue centre, profit centre and investment centre.
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