Strategic Management Philosophies

Question 1

a continuous process that helps organizations achieve their goals and objectives by planning, implementing, and evaluating strategies.

Answer 1

STRATEGIC MANAGEMENT

Question 2

the process of identifying, gathering, choosing and analyzing accounting data for helping the management team to make strategic decisions and to assess organizational effectiveness.

Answer 2

STRATEGIC MANAGEMENT ACCOUNTING (SMA)

Question 3

SMA TECHNIQUES

Answer 3

Activity based costing and Backflush costing

Question 4

a pricing strategy that involves setting a price for a product or service based on the costs associated with making it and the desired profit margin.

Answer 4

Target costing:

Question 5

a method for calculating the total cost of a product, work, or service over its entire life.

Answer 5

Life cycle costing

Question 6

a management accounting method that determines the profitability of a business’s customers to identify their most profitable customers, avoid unprofitable customers, Change, technology and quality, Focus on customer service and satisfaction.

Answer 6

Customer profitability analysis

Question 7

5 S

Answer 7

Sort, Systematize, Sweep, Standardize, Self-discipline