Management accounting - Strategic planning
- Created by: Leonieburger
- Created on: 25-07-16 08:25
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- Strategic planning
- Definition: The process of defining the organisation's strategy and making decisions on how to allocate capital and human resources
- Goal when developing a strategy is to develop it in such a way that it can easily be put into action plans.
- Goals < 1 year will be targets or objectives in the budget
- Goal congruency
- Goal hierarchy
- Goal sequencing
- 3 step approach to strategic planning: 1. Evaluate current situation, 2. Define goals, 3. Design a method to achieve those goals
- Swot analysis
- Porter's 5 forces model
- Barriers to entry and exit
- Bargaining power of buyers and suppliers
- Treat of substitute products
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