decision making of the management? Measuring strategic metrics to assess and monitor the performance. Helping you understand your position Setting clear-cut performance benchmarks Learning and Reproducing- or not
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A: Please find you answer in below step
What are the advantage and disadvantage of the following in the
decision making of the management?
- Measuring strategic metrics to assess and monitor the performance.
- Helping you understand your position
- Setting clear-cut performance benchmarks
- Learning and Reproducing- or not
Step by step
Solved in 2 steps
- 21 - Which of the following is not a reason for managers to plan? a) Performing SWOT analysis B) Reducing conflicts and wasteful activities NS) Coordinated efforts D) reduce uncertainty TO) Establishing standards for tools used to audit work‘Business strategy produces long-term plans for the business, taking into consideration plans and possible actions of competitors, the main objective being to position the firm so it has a competitive advantage... If management accounting is to play this role in strategic management, it must provide managers not only with internal, financial information, but also with information, both financial and non-financial, about the environment in which the firm is operating: strategic management accounting’ (Lord, 2007, p.135). Discuss the previous statement, taking in to consideration the following perspectives: b)The appropriateness of the new performance evaluation techniques (such as balanced scorecard and strategic management accounting techniques) to the strategic management accounting objectives in comparison to the traditional performance measures. * please help me to answer this question in details, thanks05) How is business planning different in a large firm in comparison to business planning in a small company? 106) Why is it important for all business planning to be integrated? 107) Define strategic planning. Discuss the steps involved. 108) PaperBackSwap.com needs to conduct a SWOT analysis. Explain the purpose of a SWOT analysis.
- Q2 The new focus in management accounting is customer satisfaction. Consider the above statement and discuss the key factors that a management accountant must emphasize and concentrate on for the success of his organization. (You are to give Five (5) factors of 100 words each ). (HINT : Your explanation for each of the factor should demonstrate the connection between customer satisfaction and success of the business.Understanding the common vocabulary used in strategic management is important to theapplication of its concepts.Required:a. There are four general steps in conducting an external environmental analysis startingwith scanning of the environment. Briefly, explain all four steps. b. Choose any organisation of your choice and employ the “SWOT Matrix” to demonstratethe current strategic position of the organization and clearly indicate the strategy optionsavailable to help match that organization’s internal environmental elements against itsexternal environmental elements. c. Compare on contrast the following: i. Vertical integration versus horizontal integrationii. Divestiture versus Diversificationiii. Market development versus Product DevelopmentUnderstanding the common vocabulary used in strategic management is important to theapplication of its concepts.Required: a. There are four general steps in conducting an external environmental analysis startingwith scanning of the environment. Briefly, explain all four steps. b. Choose any organisation of your choice and employ the “SWOT Matrix” to demonstratethe current strategic position of the organization and clearly indicate the strategy optionsavailable to help match that organization’s internal environmental elements against itsexternal environmental elements. c. Compare and contrast “strategic blunder” and “strategic drift”?
- Q1 The training manager at ABC corporation has asked you to identify the kind of training programs that should be offered to the young recruits who have joined as managementwith their specify job training modules. The trainees are a mixed bunch of engineering and management graduates.(a) How would you formulate your management research questions? (b) How would you carry out a problem audit? Explain in detail the steps you would take for this. (c) What could be the mix of variables that could impact the investor decisions? Is it possible to represent the same through a theoretical framework?(d) State your study objectives and research hypotheses.SWOT, Strengths, Weaknesses, Opportunities, Threats. 1. Produce a new business idea. 2. Conduct a SWOT analysis for the new business idea developed 3. Identify a minimum of 5 items for each component in the SWOT analysis.Indicate whether or not the organization where you are employed engages in strategic management and planning. If Yes, how has this benefitted the organization? If No, give your perceptions regarding the limitations and why the organization does not engage in strategic management and planning. Q2. Discuss briefly why ethical decision-making is essential in an organization, and the possible effects that ethical violations/unethical behaviours can have on the organization and its stakeholders.
- Q1. Explain the importance of Management in organizational success. a. Explain the contribution of the Art aspect of Management in organizational success. b.Explain the Science aspect of Management in organizational success. c.Explain the Interpersonal Roles of Management. d.Explain the Information Roles of Management.12. Define the seven steps in the strategic planning process: a. Organizational mission: b. Strategic business units: c. Marketing objectives: d. Situational analysis: e. Marketing strategy: f. Tactical plans: g. Results:14-In SWOT analysis, which of the following will you write in the strengths?. a. the future growth chances available for the business b. the expertise and resources available in the business c. lack of competitors d. All the options are correct