The Role of Strategic Management Accounting in the Strategic Management Process of Organizations
1 Department of Accounting, Banking & Finance, Baze University, Abuja, Nigeria
* Corresponding author: iyaminu@yahoo.com
* Corresponding author: iyaminu@yahoo.com
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
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.
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.
