Strategy and Control Frameworks Essay

Strategy and Control Frameworks Essay

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Strategy and control form an important relationship in management accounting as they inform the nature and use of control systems to guide decision makers. Strategy is concerned with strategic issues and the aim of having sustainable competitive advantage. Strategies need to be well thought out as well as specific, measureable, attainable, realistic and timely. Control is the task of setting standards, measuring performance and taking corrective action to ensure objectives are achieved. Strategy and control frameworks provide a means of determining the link between strategy and control. One framework is Ferreira and Otley’s performance management system which provides a more holistic view of the organisation to ensure valuable information is available to decision makers. A second framework is Kaplan and Norton’s strategies map which shows the steps and links between the development of strategies and the operations of the organisation to provide decision makers with information regarding difficult areas of operations.

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...

... middle of paper ...

...n makers would not otherwise have and will impact the outcome of decisions made for the better.

Works Cited

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

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