|
|
|
| Sunday, 4 December 2005 |
 |
|
 |
Business |  |
| News Business Features Editorial
|
Focus on Strategic Management Accounting Strategic Management Accounting has a much broader scope than traditional management accounting. Its focus is on addressing the critical success factor needed for a business to obtain sustainable competitive advantage in its markets, said Senior Lecturer, Cranfield School of Management, UK, Sri Srikanthan at the Technical Symposium on "Adding Value to Business through Technical Excellence" at the BMICH. Sri Srikanthan said that Strategic Management Accounting (SMA) had related a business's activities to its external environment and it should contain almost as much information on competitors as it did on the company itself. Referring to the importance of SMA, he said that companies had created value by achieving and maintaining a competitive advantage and SMA would assist in the strategic planning process by focusing management on those areas of the business in which that value was created. World Bank Country Director Peter Harrold said that there was a broad consensus that macroeconomic stability had major implications for investment and growth as research had shown volatility in inflation,exchange rate and asset prices negatively had affected the rate of capital formation. South Asia and Sri Lanka were no exception, he said. Harrold said that South Asian countries had maintained a stable macroeconomic environment as measured by trends in inflation and current account deficit and this had probably contributed to investor confidence and supported the increases in the rate of investments. President - CEO,Valgen Business Solutions, Chennai B. Hariharan said that the objectives of key businesses were generally cost reduction, improved efficiency, product cycle time, improved customer service and satisfaction and improved responsiveness to market changes enabling e-commerce. DAW |
|
| News | Business | Features
| Editorial | Security
| Produced by Lake House |
