What Are the Key Roles Which a Strategic Management Accountant Would Undertake in an Organisation Such as Jessup?

Better Essays
Q1. What are the key roles which a strategic management accountant would undertake in an organisation such as Jessup?

Strategic management accountant will be related with provisions and accounting information in an organization to the managers.

Some activities like planning and control comes under decision making process. Because the management accountants give the information produced and those must be judged because one has to see what the outcome of those decisions made is. The decision making process plays an important role in management accounting. Planning and controlling comes under the making of decision process which is in the diagram below.

Planning is one of the most important
…show more content…
So to gain a high status, the company must the production of the new products fast to the market. If went late then the competitors can have an amazing effect on the products profit. To compete the competitor, companies may get their costs efficiently at the stage of designing. And the product must match the customer’s requirement and the company should bring new products fastly to the market.

To compete now a day’s competitive environment companies have to take a look on customer satisfaction as a high priority because they now a days demands improved products in quality, cost and reliability. And these are the key factors on which the organization must focus on and to consider those key factors, organizations must adopt new approaches of management to gain the satisfaction of customer. We can examine every item in the figure shown below.

Cost efficiency is the first factor in the figure shown above. The customers wish to buy the lowest priced product, all the other things equal, by keeping low costs and to be cost efficient, it gives an advantage to the organization. Because of the competition increasing day by day

makes the organization to commit decision errors because of the poor cost information more probable and costly. So to improve the cost information to monitor trends in costs in future
Get Access