Research Article

The Role of Strategic Management Accounting in the Strategic Management Process of Organizations

Ibrahim Yakasai, Aminu1*
1 Department of Accounting, Banking & Finance, Baze University, Abuja, Nigeria
* Corresponding author: iyaminu@yahoo.com
Published: Dec, 2022
DOI: 10.67894/bjms.2022.14bvjhnz
Pages: 77-85

Abstract

The paper seeks to identify what entails a strategic management process in organizations with the needed role of strategic management accounting (SMA) to ensure its success. Even though literature on SMA indicates that there is no generally accepted definition of SMA, the paper has provided the five key components/aspects of SMA which are linked to its purpose and scope in playing a key role in the development of a viable strategic management process. These components which embody both internally and externally forward looking perspectives provide the vital strategic oriented information in all the 5 stages of overall strategic management process. The paper which adopted a conceptual approach recommends among others; the full involvement of SMA identified practices suitable to the organizations at all stages of the process. Organizations should also adopt proactive approaches by identifying and providing the crucial categories of SMA in goodtime. The organizations should, further, ensure that a robust information system is in place for loop-back information and integration of data at all times, to ensure monitoring and evaluation of the process and constant review of interpersonal and technical skills of employees involved so that management takes necessary corrective actions as need be. Further empirical research should be directed towards establishing the relationships between the 5componentsof SMA as the independent variables and strategic management process as the direct variable.

Keywords

Strategic Management Accounting Strategic Management Process Environmental Scanning

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How to Cite

Aminu, I. Y. (2022). The Role of Strategic Management Accounting in the Strategic Management Process of Organizations. Bayero Journal of Management Sciences, 4(2), 77-85. https://doi.org/10.67894/bjms.2022.14bvjhnz

I. Y. Aminu, "The Role of Strategic Management Accounting in the Strategic Management Process of Organizations," Bayero Journal of Management Sciences, vol. 4, no. 2, pp. 77-85, December 2022. doi: 10.67894/bjms.2022.14bvjhnz

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