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Essay / Research Paper Abstract
This 11 page paper examined Tesco and WalMart from the perspective of strategic management accounting to compare and contrast their performance levels and strategies looking at the final results and the competitive strategies. The bibliography cites 17 sources.
Page Count:
11 pages (~225 words per page)
File: TS14_TEteswal.rtf
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Unformatted sample text from the term paper:
1. Executive Summary Tesco and WalMart are major supermarket retailers, both have been successful and to achieve this they have undertaken careful management
of their costs. Using a strategic management accounting the similarities, such as control over the supply chain and careful use of marketing to achieve a string reputation in the competitive
environment are assessed with the financial result and the differences in terms of the strategies adopted make an interesting comparison demonstrating that success may be achieved with different strategic approaches
and the importance of strategic fit with the microenvironment in cost management. 2. Introduction In order to be successful and not only survive but thrive, organizations need to
be able to understand and manage their financial performance and control their costs. The concept of strategic management accounting is not new, it was formulated by Simmonds back in 1981
where he defines strategic management accounting as a "form of management accounting in which emphasis is placed on information which relates to factors external to the firm, as well as
non-financial information and internally generated information" (quoted Inman, 1999). When looking at traditional financial performance measures the way that these are considered and the influences need to be taken from
the broader context as well consider issues such as the increased levels of importance in terms of the cost position (Inman, 1999), and the way costs relate to issues such
as differentiation (Porter, 1985). In this context the performance of the firms are not seen in isolation, their performance and influences on the performances are placed in a boarder
context of the environment (Hoque, 2004; Inman, 1999). This makes the concept a good approach for considering the performance of a firm and comparing and contrasting two firms. When looking
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