Let’s begin with a quote- “Strategy without tactics is the slowest route to victory. Tactics without strategy is the noise before defeat.”
A student pursuing an MBA would see business as a game of chess. You make one move, you face the repercussions, and then you wait for your competitor to make another. Well, that's another story. Let’s focus on your game. What goes on in your mind while moving a pawn? Yes, pause there for a second. That’s called strategy. Plan out your next 10 moves, and the consequences that each one of them will have. Craft a strategy in case any of the moves fail.
Other than a chess instructor, to play this game in real life, you require an MBA MAC007A course in strategic planning and management. Strategic Management involves the process of achieving short and long-term business objectives through the effective use of a company’s physical, intellectual, financial, and human resources.
MBA MAC007A Strategic Management Accounting Exam Help, The aim of the subject is to help students develop analytical and problem-solving skills by examining various case studies. The subject gives a brief understanding of topics like strategic management process, strategic positioning, strategic planning, SWOT analysis, performance measurement, price analysis, etc. that will help you manage a business firm strategically in the real world.
“Where do you see yourself 5 years down the line?" - A question you will be asked in any job interview. “Where do you see this company 5 years down the line?" - If this is the question you ask yourself while working on a project assigned to you, then this is your sign. You are a born protege, a student who must pursue a career in strategic planning and management.
A lot of your skills are put to the test, when you decide to explore various aspects of strategic management. Some of these skills include- decision making, setting business goals, creating plans to grow, anticipating outcomes, analysing risks, and determining which external factors represent obstacles and what not.
Finance and management accounting
Catalysing social impacts
Managing groups and teams
Leadership and change
Cultural Issues, etc.
Forbes has described STRATEGIC MANAGEMENT as- “Less of a game of management of the company’s resources, more about thinking and analysing."
The worlds of management and marketing hinge on this one discipline. After all, it is the process of allocating organisational resources- from staff and capital to supplies and infrastructure- towards the fulfilment of the long term aim to grow and become a unicorn.
Keeping an account of costs as opposed to strategic decisions. This is as simple as breaking down, what penny was spent where to analyse how to optimise the usage of money. Thereby making it possible for the company to save more and get more work done at the same time.
KPIs, or key performance indicators- are the most fundamental concept of this component. This process involves evaluating performance and tracking progress towards strategic goals. The mantra here is- “Make sure efforts are aligned with the objectives.” This line can be decoded as such- The path is more important than the hard work.
Budget and Forecasting
Who keeps an account of your house’s monthly expenses? Your mother? Then are you ready to become one? not biologically, but metaphorically. Because this subject involves creating budgets aligned with strategic goals. This is crucial for resource allocation.
If investing still seems like a game of chance, then you need to gear up. Because here you will be accountable for making an investment and rendering better returns for the company. It aids in evaluating investment opportunities based on their strategic value.
This is another name for your degree. You will be appointed to act as a firewall, in case any decision goes wrong. Risk management deals with identifying and mitigating risks associated with strategic planning. This subject helps you learn about potential risks and their financial implications. This practise, when done again and again, results in the development of proactive risk management strategies.
Exhibit 1:- A company formulates a plan to analyse the input cost of a product and the value of that input cost, once the product reaches the market. This way, the company was able to optimise where to allocate more money, or which product is generating more value in terms of money.
Exhibit 2:- Implementing a balanced scorecard approach. Apart from tracking financial metrics, the company was also able to track customer satisfaction scores, internal processes, learning, and growth. Hence, investing in resources that were increasing business for the company.
The career of a data analyst is solely built on this premise. Using data analytics tools and enterprise resource planning (ERP) systems enables organisations to gather, analyse, store, and assess data for the purpose of deriving deep business insights.
Your dream of becoming a business consultant, financial analyst, strategic planner, or chief financial officer (CFO) can come true with this degree.
We attempt your MBA MAC007A Strategic Management Accounting Exam following your university's rubric style and guidelines. You don’t have to think twice before availing of our brilliant exam help services, as we make sure that your exam is completed on time and that you score an A+. Hundreds of students have availed themselves of our exam help services and have benefited from them by scoring top grades.
Staying updated with day-to-day business is the key. Developing deep analytical skills and cultivating effective communication can help you excel in this career. If you need help with your MBA MAC007A strategic planning and accounting assignments, then reach out to us. We have got your back!
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