Strategic Management Accounting - Regis Healthcare Limited

Added on - 21 Apr 2020

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Running head: STRATEGIC MANAGEMENT ACCOUNTINGStrategic Management AccountingName of the StudentName of the UniversityAuthor’s Note
1STRATEGIC MANAGEMENT ACCOUNTINGTable of ContentsAnswer to Question 1......................................................................................................................2Answer to Question 2......................................................................................................................3Answer to Question 3......................................................................................................................4Answer to Question 4......................................................................................................................5Answer to Question 5......................................................................................................................6Answer to Question 6......................................................................................................................7References........................................................................................................................................9
2STRATEGIC MANAGEMENT ACCOUNTINGStrategic Management Accounting is considered as a combination of strategic businessobjectives with management accounting so that forward looking business model can be used. Onthe other hand, Value Chain refers to the specific processes or activities that help the businessorganizations to add value to the products and services of the organizations so that they can addvalue to the customers. For this reason, value chain is considered as a major strategic tool fororganizational managers. Thus, in order to be innovative and creative, Regis Healthcare Limitedneeds to apply the strategies of strategic management accounting and value chain.Answer to Question 1There are some specific strategic management tools and techniques and these tools helpsin the enhancement of value chain of the business organizations. These tools are applicable forthe enhancement of the value chain of Regis Healthcare Limited. They are discussed below:Education:It is the responsibility of the management of Regis to provide education to all theorganizational people about the value chain. This common understanding helps to enhance theperformance of organizational value chain (Antràs and Chor 2013).Communication:The management of Regis needs to implement effective communicationchannel so that all the information related value chain can be reached to every level of thecompany. This aspect ensures the success of value chain.Prioritization:Based on the value chain information analysis, the management of Regis needs toprioritize the specific activities in value chain. This process will improve the performance oforganizational value chain (Elms and Low 2013).
3STRATEGIC MANAGEMENT ACCOUNTINGLeadership:The management of Regis need effective leaders for the identification andimplementation of poorer skill set for the effective functioning of organizational value chain.This is one of the major ways to enhance the performance of the value chain.Figure 1: Porter’s Value Chain(Source:Antràs and Chor 2013)Answer to Question 2Regis Healthcare Limited requires to apply the following techniques for the development,implementation and monitoring of strategies.Step 1:In this step, the managers of Regis are required to consider the structure of theirorganization in order to measure the appropriateness of strategies for the company. This is animportant stage in strategy implementation process (Bass and Dalal-Clayton 2012).
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