The way to manage strategic change

Article Abstract:

Managers must be cognizant of the fact that strategic management and planning are not one and the same thing. Planning takes a subordinate role to strategic management in that it develops contingencies that will be considered when making strategic decisions. Strategic management is not the sole duty of senior managers, but must be participated in by all levels of the organization on which the strategy will have an effect. Strategic planning will often entail organizational change. The proper management of organizational change will entail changes to the organization's culture. Managers must lead the implementation of change by their example as role models. Strategic plans being used by accounting firms to affect change include a reappraisal of training, the implementation of new staffing arrangements, and a reformulation of structures and reporting relationships.

Accounting, auditing, & bookkeeping, Management, Accounting firms, Accounting services, Organizational change

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Think before you plan: a sound strategy

Article Abstract:

Strategic planning seeks to understand factors influencing a business in order to provide a framework for objective decision-making and the allocation of resources. A strategic plan is the end product of strategic planning and has three functions: to structure the debate and analysis; to record consensus; and to communicate conclusions. A model to facilitate the process of strategic planning is composed of: defining the main objectives; critically examining the business enterprise from within; identifying the environment the business operates in; and determining outcomes and conclusions. A series of strategies should be formulated that will enhance the business' competitive position. Financial modelling can be used in the outcomes and conclusions stage for the purposes of prediction and risk perception.

Accountants

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