Summary
Summary Management Accounting 288 - Strategy
- Course
- Management Accounting 288
- Institution
- Stellenbosch University (SUN)
Strategy completely summarised for Management Accounting 288 A1S1 test.
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MANAGEMENT ACCOUNTING 288:DISCLAIMER: These notes are not intended to replace your text book(s) or lectures, they are to be
used in conjunction with your notes taken, slides and text books. It’s important to not only understand the
theory but to be able to apply it. Practicing Questions give a better understanding of the material.
, Table of Contents
STRATEGY:............................................................................................................................................................... 2
DEFINITION FOR STRATEGY:.....................................................................................................................................................2
Formulation of strategy:..............................................................................................................................................4
Criteria for goals:.........................................................................................................................................................4
Mendelow’s matrix: (stakeholders).............................................................................................................................5
EXTERNAL ENVIRONMENT:......................................................................................................................................................5
Porters 5 forces:...........................................................................................................................................................6
INTERNAL ENVIRONMENT:.......................................................................................................................................................7
1. Value Chain Analysis:...............................................................................................................................................7
2. Boston consulting group:.........................................................................................................................................8
Porters 3 Generic Competitive Strategies:...................................................................................................................9
SWOT Analysis:............................................................................................................................................................9
Balance score card:......................................................................................................................................................9
Critical success factors:................................................................................................................................................9
Topics:
- Strategy
- Financial management (chapter 1)
- Risk and returns (chapter 3)
- Portfolio management (chapter 4)
Strategy:
Definition for strategy:
It is the direction and scope of an organisation over the long term, which achieves advantage in its changing
environment, through its usage and configuration of resources and competences with the aims of fulfilling stakeholder
expectations.
Stakeholders: Where do we want to go?
WHAT - Consumers And what do we want to do?
- Workers
WHY
- Shareholders
HOW - Etc. Changing environment:
- Technical
- Competitors (Dstv
vs Netflix)
Consumer trust is a resource.
You have to adapt your direction and scope to a line with your changing environment.
Competitive advantage – helps you succeed (criteria must be met)
Planning:
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