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Strategic Management Accounting Assignment PDF

   

Added on  2021-04-24

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Running head: STRATEGIC MANAGEMENT ACCOUNTINGSTRATEGIC MANAGEMENT ACCOUNTINGName of the StudentName of the UniversityAuthor note
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1STRATEGIC MANAGEMENT ACCOUNTINGTable of ContentsQuestion .1.......................................................................................................................................2Question .2.......................................................................................................................................3Question .3.......................................................................................................................................4Question .4.......................................................................................................................................6Question .5.......................................................................................................................................7Question .6.......................................................................................................................................8References:......................................................................................................................................9
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2STRATEGIC MANAGEMENT ACCOUNTINGQuestion .1Value Chain management refers to the process of adding value to the company. It is a setof activities that a firm operating in a certain industry performs in order to deliver aqualityproductorservice for its customers. The firm aims to design, develop, and deliverproducts in a timely and efficient manner aimed at adding value to their customers. AnsellStrategic provides expert services in development planning, performance improvement, strategyand change management and mergers and acquisitions (Williamson 2013). To add value in itsoverall provision of services, the company must employ the following tools:SWOT analysis of the Ansell Strategic. The complete scrutiny of the externalenvironment of Ansell should be done, which will point out the various flaws and weaknesses inits provision of services towards its aged target market. Use of balance score card can be done toidentify and improve the internal functions of Ansell such as better retirement life standards forits customers, quality development work, health services, independent consultation and advicefor the old age customers. Benchmarks can also be used to enhance value based services, wherethe best performances of the best competitors are set as benchmarks and are compared to identifyand apply the best practices. Millennium aged care services has set a bench mark in this sector bybecoming the first accredited aged care company and by providing timely consultancy andprompt paperwork (Ansell Strategic, 2018). Emulating such standards can add value to thecompany.
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3STRATEGIC MANAGEMENT ACCOUNTINGQuestion .2Techniques for effective development, implementing and monitoring strategies: Thetechniques for creating, implementing and monitoring strategies are of paramount importance toan organization. Some of them are as follows:Reporting to others:- It should be reported to others as well for examination and overseeing theimplementation process. Activities which are undertaken by isolation from others are oflittle significance for others, so transparency and accountability should be introduced aswell.Involvement of stakeholders:-All the relevant stakeholders of Ansell should be actively involved in the entireprocedure of creating, implementing and monitoring of strategies. Taking advice and helpfrom professional management experts is a good idea as well. Tracking progress of theseprocesses is also an important part of the process.Monitoring progress: - Better and successful monitoring of the progress of the entire procedure ofworking towards strategy creation and implementation is necessary. Implementationplanning should define the data needed to be collected and the necessary methods for
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