Assignment - Advance Management Accounting

ADVANCE MANAGEMENT
ACCOUNTING

Introduction
 The managers use strategic management process at the beginning of any project at evaluating
and analyze about the market condition regarding the demand of the product and integrated
reporting technique is applied by the report preparers at the end stage of any project when the
product or service sold in the market and the company earns the revenue.
 The report preparers with vast knowledge regarding integrated reporting follow the framework
and gather information from all the department which are involved for the processing of that
specific product or service, about the earning of that company and then analyses the total profit
excluding the cost and manufacturing cost from the selling price.
 Whereas apart from all the opportunities, in this report, the challenges are highlighted along
with the steps that are adopted by Orica Limited to reduce the issues regarding these concepts.
The steps are discussed in detail. The discussion of this report also includes a few problems
which are also related to other major companies in Australia as well in the other companies
outside the country because the market demand is changing day by day.

Discussion
1. The challenges faced by Orica Limited regarding the
implementation of Strategic Management
Strategic Management is very important for every organization. Orica Limited has maintained
and worked according to the format under strategic management. However, Orica has faced few
issues while the executive managers work according to the framework under the strategic
management, and many of them are unavoidable (Abeysekera, 2013). The challenges explained
following:
 Training inefficiency by the organization
 Lack of strategy efficiency
 Failing to communicate adequately (Accaglobal.com, 2020)

 Smartly utilising the resources
 Following the planned strategy carefully (Adams, 2015)
2. How Orica Limited tries to eliminate or minimize the issues
related to Strategic Management
 Ineffective training
 Weak strategy
 Miscommunication (Aicd.companydirectors.com.au, 2020)
 Limited resource
 Maintaining the strategy thoroughly