Strategic Management Report 2023

STRATEGIC MANAGEMENT

EXECUTIVE SUMMARY
The report has aimed to present me as a corporate accountant in the finance sector of
Australia to manage the accounting operations of the companies and get employment in the
desired field. The accounting sector of Australia is expected to generate revenue of $20.3
billion in the financial year of 2019-20 and more than 71% of businesses are using the
accounting services. The global accounting service industry is increasing at the 3.5% rate
yearly and providing a variety of services such as the development of financial statement,
budget development and review of audit reports. The use of software and tools like ERP is
having a direct impact on human resources in the accounting field and hindering the
opportunities for young professionals like me to get the desired job. According to analysis,
the learning attitude is a key aspect of my academic life and I would maintain it in
professional working.
Moreover, I am lacking the knowledge related to the market downturn and funding
crisis is also affecting the demand of corporate accountant by concentrating on the valuable
segments of the existing business. To get recognition of the companies those looking for a
corporate accountant, I need to understand the growth of the particular market and
demographic actions of companies for maintaining the diversity in the workforce. In addition
to this, the rivalry among accounting candidate is high and harming salary. The new
candidates are willing to offer services at the lowest amount which affect the opportunities
for the well-qualified and deserving candidate

Table of Contents
INTRODUCTION......................................................................................................................1
MARKET ANALYSIS..............................................................................................................1
INTERNAL AND EXTERNAL ANALYSIS...........................................................................2
Internal analysis.....................................................................................................................2
External analysis....................................................................................................................3
MARKET GAP..........................................................................................................................4
STRATEGIC FORMULATION AND IMPLEMENTATION OF STRATEGIC CONTROL 5
Ansoff matrix.........................................................................................................................5
Porter’s five force strategy.....................................................................................................6
EVALUATION AND CONTROL............................................................................................8
CONCLUSION........................................................................................................................10
REFERENCES.........................................................................................................................11

LIST OF FIGURES
Figure 1: Finance industry of Australia.....................................................................................2
Figure 2: The Growth rate of the economy of Australia............................................................4
Figure 3: Ansoff matrix..............................................................................................................5
Figure 4: Porter's five forces......................................................................................................6
Figure 6: Balance scorecard.......................................................................................................9