CIMA defines strategic management accounting as :
‘A form of management accounting in which emphasis is placed on information which relates to factors external to the firm as well as non-financial information …’ (Drury 7th Edition page 570)
Strategic management accounting thus looks beyond cost measurement to focusing on ways to achieve cost reduction and hence strategic advantage for organisations. Many such techniques are outward looking to measure performance against competitors and also encompass wider measures of customer satisfaction, innovation etc. which take a much wider view of those attributes that will lead to success.
You are required to explain the wider implications of the techniques below rather than merely explaining what they are i.e. it is not sufficient to just explain the concepts but also how they can be effectively used by an organisation.
You are required to work in groups of 3 or 4 people from your class. You will be given one combination of companies from the matrix below to study three of the companies listed below:
|Retail: |Manufacturing: |Service / Other : | |1) Next | 9) Rio Tinto |17) National Grid | |2) Kingfisher |10) GKN |18) Severn Trent | |3) Burberry |11) Imperial Tobacco |19) Barclays | |4) Morrison (Wm) |12) GlaxoSmithKline |20) Ryan Air | |5) Marks & Spencer |13) Apple |21)...