This article discusses the role of control systems in multibusiness companies. The
focus is on formulation and implementation of corporate and business unit strategies.
Three widely used categories of control models are discussed: (1) models for performance
management, (2) models for value-based management, and (3) models for strategic management.
The discussion is based upon central normative texts and examples from applications
in Nordic companies. The description and discussion of the control models and their
features should facilitate decision-making on the design and use of control systems
in multibusiness companies.