COST ACCT-W/ACCESS >C< NON-MAJORS
15th Edition
ISBN: 9781269768191
Author: Horngren
Publisher: PEARSON C
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Textbook Question
Chapter 12, Problem 12.1Q
Define strategy.
Expert Solution & Answer

To determine
To explain: Strategy.
Explanation of Solution
Strategy
The word strategy may also be regarded as generalship. It may be defined as the pre-defined series of steps in order to achieve a particular target.
- Strategy is an inter-linked series or plan of action to achieve a particular goal or target.
- Strategy tends to define the scope of every step and the resources required to complete the step hence promotes effectiveness and efficiency of operations.
- In the event of undesired results, the outcome may be evaluated against the benchmarks set as per the strategy thereby gives ample scope of fixing problems.
- Strategy pre-defines the steps of the processes to be undertaken by the organization in order to achieve certain desired goals.
- The pre-definition of each step creates accountability and thus ensures effectiveness and efficiency at each level, and in the case of deviations from the benchmarks responsible personnel may be accountable.
Hence the strategy is a set of pre-defined steps of operations in order to complete or achieve a particular goal.
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Chapter 12 Solutions
COST ACCT-W/ACCESS >C< NON-MAJORS
Ch. 12 - Define strategy.Ch. 12 - Describe the five key forces to consider when...Ch. 12 - Prob. 12.3QCh. 12 - What is a customer preference map, and why is it...Ch. 12 - Prob. 12.5QCh. 12 - What are four key perspectives in the balanced...Ch. 12 - What are the five types of conditions to consider...Ch. 12 - Describe three features of a good balanced...Ch. 12 - What are three important pitfalls to avoid when...Ch. 12 - Describe three key components in doing a strategic...
Ch. 12 - Why might an analyst incorporate the...Ch. 12 - How does an engineered cost differ from a...Ch. 12 - What is downsizing?Ch. 12 - What is a partial-productivity measure?Ch. 12 - Prob. 12.15QCh. 12 - Prob. 12.16ECh. 12 - Prob. 12.17ECh. 12 - Prob. 12.18ECh. 12 - Prob. 12.19ECh. 12 - Prob. 12.20ECh. 12 - Prob. 12.21ECh. 12 - Prob. 12.22ECh. 12 - Prob. 12.23ECh. 12 - Prob. 12.24ECh. 12 - Prob. 12.25ECh. 12 - Prob. 12.26ECh. 12 - Prob. 12.27ECh. 12 - Prob. 12.28ECh. 12 - Prob. 12.29ECh. 12 - Balanced scorecard and strategy. Scott Company...Ch. 12 - Prob. 12.31PCh. 12 - Prob. 12.32PCh. 12 - Prob. 12.33PCh. 12 - Balanced scorecard. Following is a random-order...Ch. 12 - Prob. 12.35PCh. 12 - Prob. 12.36PCh. 12 - Prob. 12.37PCh. 12 - Prob. 12.38PCh. 12 - Prob. 12.39PCh. 12 - Prob. 12.40PCh. 12 - Prob. 12.41P
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