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Strategy Management

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Strategic management accounting is a key component of the overall skills base of today’s professional accountant. The professional accountant engages with the organisation’s management team and contributes to strategy development and implementation with the aim of creating customer and shareholder value.

 

 

BUSINESS PLAN

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Business Ideas can come from anywhere, and sometimes something very small can be very big.

In the modern business environment, there is a pressing need for entrepreneurs and managers to understand how to control their empires in uncertain and volatile market conditions, and how to create and deliver value to customers to secure their loyalty.

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Here are some suggestions for sources of new business ideas:

• Look for needs or gaps in the market.

• Find something missing in your local area or region that works somewhere else.

• Adapt something you already know how to do to make a new idea.

• Find a new market trend that is helping another industry.

 

A business plan is a comprehensive report which could contain:

• The organisation’s mission statement.

• A written report summarizing the business plan.

• Market research.

• Budgeted expenditure and sales forecasts.

• budgeted profit and loss account.

• Cash flow or funds flow statement.