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Prologue

Prologue. Managerial Accounting and the Business Environment. PowerPoint Authors: Jon A. Booker, Ph.D., CPA, CIA Charles W. Caldwell, D.B.A., CMA Susan Coomer Galbreath, Ph.D., CPA. Strategy.

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Prologue

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  1. Prologue Managerial Accounting and the Business Environment PowerPoint Authors: Jon A. Booker, Ph.D., CPA, CIA Charles W. Caldwell, D.B.A., CMA Susan Coomer Galbreath, Ph.D., CPA

  2. Strategy A strategy is a “game plan” that enables a company to attract customers by distinguishing itself from competitors. Customer Intimacy Operational Excellence Product Leadership

  3. Decentralizationdecision–making Decentralizationdecision–making Organizational Structure An organization is a group of people united for a common purpose.

  4. Value Chain Business Functions Making Up the Value Chain ResearchandProduction ProductDesign Manufacturing Marketing Distribution CustomerService Avalue chain consists of the major business functions that add value to a company’s products and services.

  5. Lean Production • Traditional Thinking • Minimize unit costs by maximizing output. • Keep everyone busy. Idleness wastes money. • Push products through the system even if unsold inventory piles up in warehouses.

  6. Lean Production Step 1 Identify value in specific products and services Step 5 Continuously pursue perfection in the business process Step 2 Identify the business process that delivers value Step 3 Organize work arrangements around the flow of the business process Step 4 Create a pull system that responds to customer orders

  7. Supply Chain Management The term supply chain management is commonly used to refer to the coordination of business processes across companies to better serve end consumers.

  8. A sequential process of identifying and removing constraints in a system. Restrictions or barriers that impedeprogress toward an objective Theory of Constraints (TOC)

  9. Theory of Constraints (TOC) Step 1 Identify the weakest link in the chain, which is the constraint Step 4 If improvement efforts are successful, the weakest link will improve Step 2 Do not place a greater strain on the system than the weakest link can handle Step 3 Concentrate improvement efforts on strengthening the weakest link

  10. Six Sigma A process improvement method that relies on customer feedback and fact-based data gathering and analysis techniques to drive process improvements. Six Sigma is sometimes associated with the slogan zero defects.

  11. Part One Competence Confidentiality Integrity Credibility Code of Conduct for Management Accountants – IMA’s Statement of Ethical Professional Practice Part Two Resolution of Ethical Conflict

  12. The Sarbanes-Oxley Act of 2002 The Sarbanes-Oxley Act of 2002 is intended to protect the interests of those who invest in publicly traded companies by improving the reliability and accuracy of corporate financial reports and disclosures.

  13. Identifying and Controlling Business Risks

  14. Corporate Social Responsibility Corporate social responsibility (CSR) is a concept whereby organizations consider the needs of all stakeholders when making decisions. Customers Employees Suppliers Communities Stockholders Environmental & Human RightsAdvocates CSR extends beyond legal complianceto include voluntary actions that satisfy stakeholder expectations.

  15. End of Prologue

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