Strategy can be defined as complementary actions working towards maintaining competitive advantage; however, it might be more important to understand the definition of strategic management accounting. Hopper, Ashton and Scapens (1995) define this as “an approach to management accounting that explicitly highlights strategic issues and concerns. It sets management accounting in a broader context in which financial information is used to develop superior strategies as a means of achieving sustainable competitive advantage (p. 162). The importance of an organisation’s strategy can be noted when implementing control system tools as guidance is required. This often comes in the form of the strategies. Strategy can provid...
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...n makers would not otherwise have and will impact the outcome of decisions made for the better.
Brookes, A., Eldenburg, L. G., Oliver, J., Wolcott, S., & Vesty, G. (2011). Management accounting. Queensland, Australia: John Wiley & Sons Australia Ltd.
Ferreira, A., & Otley, D. (2009). The design and use of performance management systems: an extended framework for analysis. Management Accounting Research, 20(4), 263-282
Hopper, T.M., Ashton, D., & Scapens, R.W. (1995). Issues in Management Accounting (2nd ed.). Edited by D. Ashton, T. Hopper & R. Scapens. , UK: Prentice Hall.
Kaplan, R. S., & Norton, D. P. (2000). Having trouble with your strategy? Then map it. Harvard Business Review78(5), 167-176
Sanchez, M. (2007). 8 strategies for achieving SMART goals. Retrieved from http://www.projectsmart.co.uk/8-strategies-for-achieving-smart-goals.html
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