How strategic management process can be approached
What are the various modes that the strategic management process can be approached?
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The strategic management method can be approached in many modes. To gain an insight to how this might be completed, one well-established approach, comprising five steps that are illustrated below:
a) Establish mission and objectives.b) Undertake a position analysis.c) Recognize and assess the strategic options.d) Choose strategic options and formulate the plans.e) Perform, review and control.
Cost Accounting: The Cost accounting is an approach to evaluate the overall costs which are related with conducting business. It is generally based on standard accounting practices, cost accounting is one of the tools which managers u
What are the key qualities or characteristics which accounting information should possess?
describe how costs can be classified giving examples in each classification. explain how the different cost classifications can assist management in decision making
Avoidable Cost: The cost related with an activity which would not be acquired if the activity were not executed.
Indirect Cost: A cost which can’t be recognized particularly with or traced to a specified cost object in an economically feasible manner.
Managerial Cost Accounting System: The organization and processes, whether automated or not, and whether portion of the general ledger or stand-alone, which accumulates and reports constant and trustworthy cost information and perform
Activity Analysis: The identification and explanation of activities in an association. The activity analysis comprises determining what activities are completed within a department and how many people execute the activities, how much
Give a brief introduction of the term ‘Management Accounting’. And also write down its objectives?
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Write a short note on selecting strategic options and formulating the plans?
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