management accounting
Question 1
Can an organisation survive without strategy? Why? Why not?
It’s absolutely important for a company to survive with strategy as whether we are considering a sole trader or a multinational company. An organisation that doesn't know where it is going can never expect to reach its mission. When we look at planning stage, we have to decide what to do and what not to do. As we already discussed in class like which industries you want to participate in; what kind of products and services you want to offer; how to allocate scarce resource and add value, all those kind of issues should be considered in planning stage and adjust its flexibility in order to realising that strategic intent.
Question 2
What are the principal reasons for strategic management and thinking?
Strategic management plays an important role as it helps in setting detailed goals, analysing all our internal and external resources, analysing our external environment, as well as stakeholder views. If a company want to survival of the fittest, then they should overcome its uncertainties in the external and internal environments and achieve expected levels of performance is a real challenge. Strategic thinking focuses on finding and developing unique opportunities to create value, Good strategic thinking uncovers potential opportunities for creating value and challenges assumptions about an organisation’s value proposition, so that when the strategic plan is created, it targets these opportunities.
Question 3
How do strategic concepts apply to not for profit organisations and non government organisations?
A non-profit organization has a mission statement that defines its reason for being--whom it intends to serve and what good it seeks to accomplish for society. Non-profit organizations also want to increase their cash flow to survival, but their overall goal is to increase the number of people they serve as well as provide good quality services. Non-profit strategies must give the
Can an organisation survive without strategy? Why? Why not?
It’s absolutely important for a company to survive with strategy as whether we are considering a sole trader or a multinational company. An organisation that doesn't know where it is going can never expect to reach its mission. When we look at planning stage, we have to decide what to do and what not to do. As we already discussed in class like which industries you want to participate in; what kind of products and services you want to offer; how to allocate scarce resource and add value, all those kind of issues should be considered in planning stage and adjust its flexibility in order to realising that strategic intent.
Question 2
What are the principal reasons for strategic management and thinking?
Strategic management plays an important role as it helps in setting detailed goals, analysing all our internal and external resources, analysing our external environment, as well as stakeholder views. If a company want to survival of the fittest, then they should overcome its uncertainties in the external and internal environments and achieve expected levels of performance is a real challenge. Strategic thinking focuses on finding and developing unique opportunities to create value, Good strategic thinking uncovers potential opportunities for creating value and challenges assumptions about an organisation’s value proposition, so that when the strategic plan is created, it targets these opportunities.
Question 3
How do strategic concepts apply to not for profit organisations and non government organisations?
A non-profit organization has a mission statement that defines its reason for being--whom it intends to serve and what good it seeks to accomplish for society. Non-profit organizations also want to increase their cash flow to survival, but their overall goal is to increase the number of people they serve as well as provide good quality services. Non-profit strategies must give the