Enhancing Value Chain With Strategic Management Tools

Value chain analysis

Business corporations that successfully develop effectual and efficient procedures of value chain and enable best practice enhancement with the usage of an integrative system of improvement can improve business practices and thereby performance (Wheelen et al. 2017).  

Value chain analysis

As suggested by Robson (2015), value chain analysis can be referred to as a strategic tool that can be utilized for analysing different internal firm actions. The primary aim is to identify those actions that are most valuable to the business enterprise and the ones that can be augmented to deliver competitive advantage. However, by bearing in mind internal actions, the analysis reflects the areas of competitive advantage of the business enterprise. The value chain model proposed by Porter can be followed for analysing the internal actions of the corporation to identify the valuable actions to the corporation and the ones that could be improved to deliver competitive advantage. According to the current model, value chain is essentially made of primary actions that enhance value to the company’s final product directly and at the same time support actions that can enhance value indirectly (Rothaermel 2015).  

Use of the value analysis tool can therefore help the firm MMG in identifying specific sources of competitive advantages and identify definite opportunities to acquire cost advantage and opportunities to generate differentiation of products/services. Also, adoption of this strategic management tool can help in value creating actions of different participant industries (Jeston 2014).  

Effective Strategic Tools

The management of the firm can also consider adoption of a demand driven scheme and business operating model founded on insight of real     time demand and shaping of demand.  The appropriate prediction along with contingency planning tools can ensure a proper view and an effectual response to different risks namely political instabilities and natural calamities affecting operations of manufacturing and many others (Hill et al.  2015). Business concerns can adjust strategies of pricing along with strategies of promotions in order to shape overall firm’s demand, move supplementary products properly, drive growth of firm’s revenue and expand enterprise’s revenue for different high demand product with constrained supply in the market.

Developing an adaptive and agile system of supply chain

The management can consider adapting their system of supply chain to altering environment and transforming market opportunities along with events. Business concerns have the need to take into consideration significance of deployment of dynamic system of planning capabilities and continually planning different operations to make certain responsive agility to satisfy altering demands (Bryson 2018). 

Optimizing designs of product and management of product

Innovation can be considered to be vital for attainment of a competitive edge in the market. Management can consider formulation of designs for optimizing supply, manufacturability and operations of supply chain. In addition to this, product innovation along with competitive advantage gradually more stem from selection and handling of suppliers as well as technologies. In case if a business enterprise can handle information, individuals, procedures and decisions concerning a product throughout the lifecycle, then it can attain strong outcomes and market leadership (Carnall 2018). Essentially, there is no better means to attain the same with seamless and proper collaboration procedure across the total end-to-end chain of supply. The capability to orchestrate the entire conversation across the end to end business and utilize demand driven opinion has never been in reach. For example, cloud collaboration tools for particularly supply chain can aid product designers to innovate solutions that diverse customers are asking for. Furthermore, management of the firm can align the supply chain with specific business objectives by assimilating sales and planning of operations with business planning. The management of the company can think about embedding sustainability into functioning of supply chain. The triple bottom line of individuals, profit and planet has never been more significant than what it is today. Reports reveal that firms striving for sustainability of social as well as environmental aspects can attain competitive advantages, particularly with regard to efficiency of production, skills of supplier management and magnetism to members of the staff (Larson et al. 2014)

Effective Strategic Tools

Examination, application of techniques for developing/executing/monitoring stratagems

Examination of strategies: Formulation of strategy needs to be carried out on a daily basis as frequently as necessary by transformation in the industry. The aged care establishment MMG also have the need to keep a track of the advancement of the operations else wise lack thereof on the important objectives outlined in the strategic scheme. The old care organization can consider being objective and adequately flexible to understand whether the stratagem is appropriate in the way it was initially conceived. Also, it is important to comprehend whether there is requirement for revision otherwise replacement (Piercy 2016). In the current business case, the strategy needs to be fine and communication of the stratagem to members of the staff needs to be properly done with proper planning. In essence, this analysis and feedback of the strategy design designs the base for successful stratagem of the upcoming period. Further, management of MMG can develop a measurable stratagem in order to determine whether the strategy is effective and enumerate overall performance and examine whether the same can attain objectives of the enterprise. Also, it is also important to enumerate specific variables during the process of implementation. In order to monitor effectiveness of the strategy, there is need to institute base values from implementation of strategy and monitoring overall advancement.

Development of strategies: Kaplan and Atkinson (2015) asserts that developing stratagems is essentially an appropriate way to concentrate the efforts and decipher the ways to get things done.

Provide definite direction: As rightly indicated by Hill et al. (2014), an appropriate strategy takes into account existing barriers as well as different resources that can properly employee for betterment of operations.

Fitting resources as well as opportunities: The management of the aged care unit MMG can take into consideration specific criteria for development of appropriate strategy that can help them in addressing the identified problems. There is requirement for a stratagem that can deliver a direction and an enhancing experience, develop skills otherwise enhance resources along with opportunities (Augier and Dew 2018). Also, the strategy needs to be such that it can acquire advantage of the existent resources as well as assets of MMG. Also, while developing the strategy, management of the group can bear in mind the fact that it is important to embrace novel opportunities namely emerging public concern. Additionally, when initiatives are introduced to attain important things, there is necessity for resistance.

Reach the identified affected ones: Moreover, the strategies developed need to address identified issues or else problems. Essentially, these strategies have the need to link the intervention with the ones who should gain (Grant et al.  2014).  

Progression of the mission: There need to be strategies that can make a variation on the mission and goals. In case if the objective is to prevent a specific issue, there needs to be facets that can contribute to specific risks (Barca 2017).

There needs to be implementation team or unit for development of a procedure of ongoing monitoring of execution advancement. Part of the procedure that Mark Moran Group can consider is to gather feedback from different members of the staff as well as clinicians of the aged care establishment. For instance, units can also compile different questions along with issues from different members of the staff, acquire the requisite information and inform the same to the management (Chienwittayakun and Mankin 2015). In addition to this, the process of monitoring in the firm Marl Moran Group can also include tracking alterations in evaluation and occurrence and prevalence rates. As rightly put forward by Ovchinnikov et al. (2015), the management of MMG can take into account formulation of information loop closed by the implementation unit.

Developing an adaptive and agile system of supply chain

Analysis of strategic management cycle and leadership role of professional accountants

Strategic management cycle that is considered to be a comprehensive approach can leverage specific principles of the aged care unit MMG. The management of the business enterprise can undertake the following steps for carrying out thorough analysis of strategic management cycle (Bromiley et al. 2015).

Assessment of present performance

Strategic management procedures of the upcoming year start with a stock taking practice of present year’s performance. Majority of information needs to be associated to present performance and need to be willingly available (Pavlatos 2015).

Scanning of internal environment

Internal environment plays a critical role in attainment of success. Leaders of MMG need to undertake internal challenges. Internal scanning can help in understanding different alterations in competencies/set of skills and competencies, models of operations, associate satisfaction, reasons of attrition together with barriers of technology and many others. In essence, the best way to undertake scan MMG’s internal environment is by means of proper research of requisite information, different interviews and discussions carried out in focus groups (Aghazadeh 2015).  

Scanning of external environment

External environment also plays an important role in attainment of success. Examination of external environment can be considered to be an evolved operation in different business enterprises. Also, there are different industry research units, subject matter specialists, analyst assertion, secondary information research, commission studies carried out by business enterprises and many others (Pavlatos 2015).

The management of the firm can utilize the management tool that is SWOT. This strategic management tool is quite simple and at the same time powerful. SWOT can help in discovering factual information, help in regular updating and need to be undertaken with engagement of different stakeholders.

Strength – capabilities of the institution and different cost advantages -High reputation -Superior location -Innovative service (Bromiley et al. 2015)	Weakness – Absence of plans of marketing – Availability of novel technologies – vulnerabilities of varied competitors – Limited presence in varied emerging markets
Opportunity – Lack of stiff competition – Various segments of market that offer enhance profit – Alterations in profile of population – With increased focus on aged care and their health care, this company has the opportunity to get expanded to  different geagraphies	Threat – Economic shifts – Increased level of competition – Changes in demand of market – Seasonality (Bromiley et al. 2015) – Loss of important staffs

Formulations of goals as well as strategies

The actual truth regarding strategic schemes is that there exist no real strategies. An appropriate strategic scheme can be framed by means of using exclusive strategies derived from outcomes of SWOT (Ovchinnikov et al.  2015).

Ownership

At the time when objectives are properly finalized, exclusive owners for each and every goal need to be assigned by the management of MMG.

Identification of strategic projects

The organization can select and run restricted number of strategic projects. Management of the firm can select the prioritized projects, fund, sponsor and resource them.

Surging of strategies

Strategies can be cascaded to essentially grass-root level. In essence, this occurs by means of employment of strategic schemes. Strategic plans can be cascaded to organizational strategic scheme (Chienwittayakun and Mankin 2015).

Progress Meeting

Leaders of each and every strategic project need to have a definite project plan. There need to be weekly meetings that can be chaired by leaders of the project.

Monthly Strategic Assessment

Monthly strategic assessment can be undertaken by the leadership team that can generate strategic schemes. This can assess advancement of each strategic project as leader of each and every project can make a presentation (Hill et al. 2014)

Quarterly Strategic Assessment

A specific quarter can substantiate if the subsisting strategies and strategic projects are relevant regarding active internal as well as external environment. In case if some of them needs to be altered, then those decisions can be considered in this meeting (Kaplan and Atkinson  2015).

Optimizing designs of product and management of product

Competent accountancy professionals can help corporate stratagem, deliver suggestion and aid business to lessen costs, enhance top line and alleviate risks. Professional accountants can become defender of public interest and manage competing demands. Multifaceted role need to be taken up by professional accountants and there is need to discuss the duty (Piercy 2016). As a specific profession that has been conferred a privileged position in community, accountancy profession on the whole deals with a extensive range of issues that has a public interest angle.

It is important for different accountants to act as leaders. In this regard, it can be said that professional accountants of the institution have the need to exercise leadership in a bid to get different jobs done. The ultimate role undertaken as a specific leader is to acquire results and to facilitate effectual delivery of service in MMG. In this context, it can be said that leaders in the area of accounting have the need to observe diverse principles of both constitutional as well as parliamentary oversight. Essentially, there is need to provide accountability and uphold the regulation of the law and comprehend different components that includes being fair, reasonable and just in different dealings together with operations (Larson et al. 2014).

Role of organization, industry value chain analysis and application

The primary objective of the company Mark Moran Group (MMG) operates in the segment of aged care and healthcare area. The role of the organization is to be present a leading health as well as aged care design. The organization MMG has an opportunity to generate an exclusive model oriented to customers, which is lacking in the segment and combining three different conventional industry segments of aged care, home care as well as retirement villages. Thus, it can be said that the organization has a specific aged care system that can offer extensive range of options to satisfy diverse care requirements of each and every individuals (Carnall 2018). Also, there is desire of different older people to stay in own homes since the age has led towards mounting concentration on provision of aged care services.

Value chain analysis of the organization as defined by participants of workshop can be considered to be far longer and overarching than the value chain.

The framework of the value chain in aged and healthcare is multifaceted. There are three different important sets of different actors and two different sets of mediators. The three key clusters of actors are essentially individuals as well as institutions that buy healthcare, deliver healthcare services, and generate healthcare products (purchasers, providers, as well as producers) (Bryson 2018). There are two different clusters of intermediaries that can disconnect these important actors. These kinds of firms fund healthcare (proffer insurance to the different purchasers and manage reimbursement to different providers) and the ones who undertake bulk buy and dispense products (from different producers to their providers). 

Analysis of characteristics of effective strategies and CSR associated performance measurement and control systems

In case of Mark Moran Group, one of the most significant issues in management control is basically controlling. There is issue with magnitude of alteration in the operations and the present system of control fails as management of the firm fails to correct different alterations in operations. Also, there also exist faulty systems of standards. In essence, this becomes difficult to differentiate between proper as well as improper levels of performance of MMG. Further, there is excessive information that also becomes difficult to control (Rothaermel 2015). At the time, when different managers at different levels accept identical information, there can be overburden of information. Management of the firm has the need to decide overall quantity and type of information that must reach to each and every manager. In addition to this, members of the staff often take into consideration systems of control as a specific device to exert pressure on management (Robson 2015).

Examination, application of techniques for developing/executing/monitoring stratagems

Corporate social responsibility can be divided into four different divisions of levers of control. In case of belief schemes, CSR can be integrated into value proposition, statements of mission otherwise value. Furthermore, in systems of boundary, CSR can be specific divisions of business conduct codes and systems of strategic planning.

Diagnostic systems of control can be undertaken by the management of MMG. This essentially can make sure that the stratagem is being followed. As suggested by (), this diagnostic system of control is a popular and visible part of systems of control for different organizational participants. Corrective actions can be undertaken founded on different results of diagnostic systems of control. This calls for appropriate analysis and understanding of critical variables of performance of the enterprise. As suggested by Morden (2016), Interactive systems of control on part of the enterprise can encourage organizational learning and materialization of novel ideas and stratagems. Uninterrupted re-approximation of upcoming states and considerations of the way to act in response to the future can be made by means of interactive systems of control.

The company currently measures performance of CSR by using activity reports that is there with the content analysis. In particular, this can alter all the qualitative information to essentially quantitative information so that it can be integrated in a specific equation. In essence, this refers to the fact that the number that can be retrieved from the content analysis procedure can help in describing different disclosures that are presented in the current report. However, in order to enumerate using the procedure of content analysis, the enumerations of CSR by means of annual reports have the need of information guideline (Mårtensson et al. 2016).  The sustainability reporting guideline proposed by the Global Reporting Initiative (also known as GRI) can be used an information guideline for performance of CSR. In addition to this, a total score can also be calculated by means of adding another variable. Different variables that are positively linked to CSR in annual assertions are essentially total assets, sales figure, overall profitability, return on equity and assets and many others.  

Strategic management accounting techniques for the purpose of planning, implementation, control and monitoring of projects

The Strategic management accounting refers to merge of the business objectives with the management accounting information  in order to give a forward looking model  which help in assisting  the management of the business in the present case MMG, in taking the various decisions of the business (Morden 2016). It is different from the managementaccounting, since it focuses on the internal metrics of accounting. It evaluates on the external information that regards the tends in cost, prices, share in market and the cash flow along with the impact on the resources of the business. The Strategic management accounting techniques would help in the tactical response to all the business issues. However, the strategic management accounting involves enhanced intelligence about the various suppliers, competitors and other stakeholders.

There exists various definition, tools and techniques that can be applied in the strategic analysis of the business. In the context of planning of the projects the initial step as per the strategic management accounting requires identification and review of the information that are relevant for the strategic analysis. Then comes the high level environmental scan that analyses the various internal and external business environment. This takes in hand the mission, vision, stakeholders, plans, structures and profiles in order to formulate and effective plan for the business project (Dashtbayaz, Mohammadi and Mohammadi2014). The next step is the process of implementation, control and monitoring of the project. In order to conduct the same effectively, the techniques that they can be adapted to analyse the pros and cons of the new project in the company MMG. The techniques includes:

• VMOST: This stands for Vision, Mission, Objectives, Strategy, and Tactical. In order to obtain success of the project in MMG needs to analyses the project. Since the organisation deals with “aged care and lifestyle”, the management needs to be clear regarding vision, mission, and objectives in order to implement the project and provide effective service to the customers.
• SWOT:This is a standard analysis tool that is defined as strengths, weaknesses, opportunities, and threats of the project that is to be implemented for better service to the customers (Mårtensson et al. 2016). The new projects that would deal with aged care must be analysed efficiently with all the elements of swot analysis.
• PEST:The acronym stands for political, economic, social and technology. Since the organisation of MMG deals with several number of people from various regional origins, it is important for the organisation to analyse the elements of this strategic management technique so that the execution of the new launch of the project is efficient.
• SOAR: This stands for Strengths, Opportunities, Aspirations, and Results. This strategic management accounting technique is similar to swot (Smith 2017). The overall analysis of the project must include verification and analysis of the SOAR elements.

The organisation of MMG must implement any one of the above mentioned strategic management accounting technique  so that there is effective planning, implementation, control and monitoring of projects that is to be launched for providing a greater service to its customers.

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