Strategic Management of Regis Organisation-Myassignmenthelp.com

Questions: 1.Enhance value chain within the Organisation with various Strategic Management tools. 2.Examine and apply the techniques for developing, implementing and monitoring strategies. 3.Analyze the Strategic Management Cycle and the Leadership Role of Professional Accountants in Strategic Management. 4.Define the role of organisation and industry value chain analysis and apply the analysis to the design and structure of value adding activities, value drivers and value chains. 5.Analyze the characteristics of Effective Strategic and Corporate Social Responsibility Related Performance Measurement and Control Systems. 6.Describe and apply Strategic Management Accounting Techniques to the Selection, Planning, Implementation, Control and Monitoring of Projects If Any. Answers: Strategic Management Accounting is considered as a combination of strategic business objectives with management accounting so that forward looking business model can be used. On the other hand, Value Chain refers to the specific processes or activities that help the business organizations to add value to the products and services of the organizations so that they can add value to the customers. For this reason, value chain is considered as a major strategic tool for organizational managers. Thus, in order to be innovative and creative, Regis Healthcare Limited needs to apply the strategies of strategic management accounting and value chain. 1.There are some specific strategic management tools and techniques and these tools helps in the enhancement of value chain of the business organizations. These tools are applicable for the enhancement of the value chain of Regis Healthcare Limited. They are discussed below: Education: It is the responsibility of the management of Regis to provide education to all the organizational people about the value chain. This common understanding helps to enhance the performance of organizational value chain (Antrs and Chor 2013). Communication: The management of Regis needs to implement effective communication channel so that all the information related value chain can be reached to every level of the company. This aspect ensures the success of value chain. Prioritization: Based on the value chain information analysis, the management of Regis needs to prioritize the specific activities in value chain. This process will improve the performance of organizational value chain (Elms and Low 2013). Leadership: The management of Regis need effective leaders for the identification and implementation of poorer skill set for the effective functioning of organizational value chain. This is one of the major ways to enhance the performance of the value chain. Figure 1: Porters Value Chain (Source: Antrs and Chor 2013) 2.Regis Healthcare Limited requires to apply the following techniques for the development, implementation and monitoring of strategies. Step 1: In this step, the managers of Regis are required to consider the structure of their organization in order to measure the appropriateness of strategies for the company. This is an important stage in strategy implementation process (Bass and Dalal-Clayton 2012). Step 2: In this step, the managers of Regis are required to review the action plan for strategy implementation. Here, the managers are required to establish measurable objectives for the strategy. In addition, roles and responsibilities are allocated among various organizational members for strategy implementation. Step 3: After the review process, the managers of Regis are required to start the implementation process of the strategies. The implementation committee needs to communicate with organizational managers for conducting smooth implementation process (Bass and Dalal-Clayton 2012). Step 4: In this process, the performance evaluation of strategies are done. The management of Regis is required to review the strategies for performance evaluation. 3. Figure 2: Strategic Management Cycle (Source: Hill, Jones and Schilling 2014) The above figure shows that there are three major steps in Strategic Management Cycle. The first process is planning. Planning includes the planning and development of organizational strategies. The second process is execution. In this process, organizational managers start the implementation process of the developed strategies. This is the most important part in the strategic management cycle. The last stage is monitoring and progress evaluation. In this process, the implementation process is reviewed along with the performance of strategies. In the process of strategic management, professional accountants play an important part. Professional accountants help in dealing with the issues related with public interests in the organizations. In addition, professional accountants analyze and evaluate various financial and accounting aspects that are of great importance in the process of strategic management. Apart from this, professional accountants help the companies to up to date with various rules and regulations of the changing business environment (Wheelen and Hunger 2017). 4.Organization and industry value chain analysis have a crucial role to play in organizational success. With the help of value chain, the management of Regis will be able to analyze their own business along with competitors. From this, the company will be able to get necessary competitive advantages. In addition, it is helpful for Regis to identify the organizational issues related with customer value. On the other hand, value chain helps in comparing the business model of Regis with their competitors (Schmeisser 2013). Figure 3: Roles of Value Chain Analysis (Source: Schmeisser 2013) Thus, based on the above analysis, it can be said that the managers of Regis need to develop the value adding activities and value derivers in such a way so that they can be able to add value to the customers of the company. Thus, at the time of developing the value chain activities of Regis, the organizational managers need to consider all these factors as the success of value chain largely depends on it. 5.Effective strategies and corporate social responsibilities (CSR) have some special characteristics that help in the process of performance measurement and control system. In case of effective strategies, they are required to be measurement centric, as it will help in measuring the performance of employed strategies. After that, effective strategies help in leveraging ideas in different level of business. Effective strategies are considered as the major resources of organizations because of their problem solving abilities. On the other hand, various CSR activities states that business organizations have utmost responsibilities towards the public of the countries. At the same time, CSR activities helps in the protecting the environment from various business activities of the companies (Tai and Chuang 2014). Thus, based on the above discussion, it can be seen that effective strategies and CSR activities are important parts in measuring the performance of the business organizations. At the same time, both of them helps in establishing effective control system in the companies. 6.Four major strategic management accounting techniques will be helpful for Regis in planning, implementation, control and monitoring of projects. They are discussed below: Benchmarking: This is one of the major steps for monitoring the performance of organizational projects. In the benchmarking process, the performance of Regis will be compared with the top performer company in that industry. Balance Scorecard: Balanced scorecard is one of the major tools for Regis for the selection, planning and performance measurement of the organizational projects. It is considered as a major strategic accounting tool that the organizational managers can use for various purposes (Grigoroudis, Orfanoudaki and Zopounidis 2012). Value Chain Analysis: It is also considered as a major strategic accounting tool. This tool can be used for various purpose in the companies like planning, monitoring, performance measuring, implementation and others. Target Cost Management (TCM): TCM will be helpful for Regis in the determination of the life cycle cost of a particular project. Figure 4: Strategic Management Accounting Techniques (Source: Wheelen and Hunger 2017) References Antrs, P. and Chor, D., 2013. Organizing the global value chain.Econometrica,81(6), pp.2127-2204. Bass, S. and Dalal-Clayton, B., 2012.Sustainable development strategies: a resource book. Routledge. Elms, D.K. and Low, P. eds., 2013.Global value chains in a changing world. Geneva: World Trade Organization. Grigoroudis, E., Orfanoudaki, E. and Zopounidis, C., 2012. Strategic performance measurement in a healthcare organisation: A multiple criteria approach based on balanced scorecard.Omega,40(1), pp.104-119. Hill, C.W., Jones, G.R. and Schilling, M.A., 2014.Strategic management: theory: an integrated approach. Cengage Learning. Schmeisser, B., 2013. A systematic review of literature on offshoring of value chain activities.Journal of International Management,19(4), pp.390-406. Tai, F.M. and Chuang, S.H., 2014. Corporate social responsibility.Ibusiness,6(03), p.117. Wheelen, T.L. and Hunger, J.D., 2017.Strategic management and business policy. pearson.