Intensification of competition, especially in the last 30 years, has required different strategies. Discuss the implications of this trend for the design and operation of strategic management accounting
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- Consider the following quality improvement strategy as expressed by a series of if-then statements: If real-time feedback information capabilities improve, then post-sales service time will improve. If post-sales service time improves, then post-sales service quality will increase. If post-sales service quality increases, then customer satisfaction will increase. If customer satisfaction increases, then market share will increase. If market share increases, then sales will increase. If sales increase, then profits will increase. Required: 1. Prepare a strategy map that shows the cause-and-effect relationships of the quality improvement strategy (see Exhibit 13.10 for an illustrative example). 2. Explain how the quality improvement strategy can be tested.One of the most widely used measures of management performance is the Balanced Scorecard. Like the other management theories we have studied, the balanced scorecard has evolved over the years. Is the Balanced Scorecard still relevant, if so why, if not, why not?Strategic management accounting provides information to protect an organisation's strategic position and determine strategies to improve its future competitiveness. To have strategic value, management accounting information (MAI) must help accomplish key strategic objectives related to quality, cost, and time. At the same time, MAI must have the technical, behavioural, and cultural attributes necessary to help achieve the strategic goals. Discuss the statement with suitable examples. Your discussion should include the inter-relationship between the strategic purpose and the desired attributes of management accounting information. [Word limit: 225 words. Note the word count at the end of your answer]
- Discuss how the strategic management accounting techniques Just-in-time and the Theory of Constraintscould offer Green opportunities for improving performance and ways to seek to achieve cost reduction.Which among the following is an example of routine report submitted to the management? a. Report on technological changes in the industry b. Report on general economic forecast c. Feasibility study for a new business plan/project d. Sales reportClassify the performance measures below into the most likely balanced scorecard perspective towhich it relates: customer (C), internal processes (P), innovation and growth (I), or financial (F). Sustainability training workshops held
- Which of the following is not a characteristic of the strategic planning process? a. emphasis on both the short and long run b. analysis of external economic factors c. review of the attributes and behavior of the organization’s competition d. analysis and review of departmental process e. analysis of consumer demandWhich of the following objectives would likely be associated with the learning and growth perspective of the balanced scorecard? a. Increasing post-sales service efficiency b. Increasing information system capabilities c. Decreasing product development cycle time d. Improving product image and reputationWhich of the following is false regarding strategic planning? It is the sole responsibility of supervisors. It will span many years. It should include both short-term and long-term goals. Strategic objectives will be diverse and vary from company to company.
- A Box Scorecard was prepared for a value stream: Required: 1. How many nonfinancial measures are used to evaluate performance? Why are nonfinancial measures used? 2. Classify the operational measures as time-based, quality-based, or efficiency-based. Discuss the significance of each category for lean manufacturing. 3. What is the role of the Planned Future State column? 4. Discuss the capacity category and explain the meaning of each measure and its significance. 5. Discuss the relationship between the financial measures and the measures in the operational and capacity categories.The following Box Scorecard was prepared for a value stream: Required: 1. How many nonfinancial measures are used to evaluate performance? Why are nonfinancial measures used? 2. Classify the operational measures as time-based, quality-based, or efficiency-based. Discuss the significance of each category for lean manufacturing. 3. What is the role of the Planned Future State column? 4. Discuss the capacity category and explain the meaning of each measure and its significance. 5. Discuss the relationship between the financial measures and the measures in the operational and capacity categories.Beginning with strategy, which of the following items lists the areas of the business sustainability cycle in the correct order in which they should be performed? (Note: Not all areas are contained in each list.) a. Sustainability assurance, sustainability reporting, risk management, performance measurement b. Performance measurement, risk management, sustainability reporting, stakeholder engagement c. Stakeholder engagement, risk management, sustainability assurance, performance measurement d. Risk management, stakeholder engagement, sustainability reporting, sustainability assurance e. Stakeholder engagement, risk management, performance measurement, sustainability reporting
