Dynamic Business Models for Strategic Management Accounting

In the first session of the System Dynamics for Business Innovation special series, led by business strategist and academic Kim Warren, attendees gained valuable insights into the use of dynamic business models in strategic management accounting. This blog provides an overview of the key topics covered in the webinar ti

Key Points from the Webinar:

1. Role of Strategic Management Accounting (SMA): SMA is essential for helping accountants and leaders in developing and monitoring their business strategies. It requires detailed analysis of business data, forecasting, and preparing forward-looking reports.

2. Responding to Market Changes: Strategic Management involves reacting to unexpected competitive threats and market shifts. This includes strategies such as acquiring companies or entering new markets.

3. Use of Financial and Non-Financial Data: Strategic management requires ongoing analysis and interpretation of both financial and non-financial data. This encompasses aspects like capacity factors and their connections within the business.

4. Tools for SMA: SMA uses a combination of financial and non-financial tools. The Balanced Scorecard, for example, connects financial outcomes with operational activities and customer focus.

5. Customer Focus in Business Success: Understanding customer needs is important for business success. Tools like the value curve and the business model canvas help align business offerings with customer needs and set apart from competitors.

6. Budgeting Techniques: The webinar discussed traditional and zero-based budgeting, underlining the need for budgeting approaches that suit current business requirements.

7. Tools for Predictive Analysis: It’s important to have tools that can forecast business outcomes in various scenarios. These tools should consider factors such as revenue, competitor behavior, and strategic objectives.

8. Case Study Application: The webinar demonstrated these concepts through a case study of a new table service restaurant, focusing on sales and profit growth projections.

Invitation for Further Learning:

For those interested in deepening their understanding of Strategic Management Accounting, we recommend watching the recording of this webinar. Further, participation in the upcoming sessions of this series will offer expanded knowledge on topics like competitive strategy, IT systems, and the impact of business decisions on society and the environment.

Join us to further explore the field of Strategic Management Accounting and apply these principles to enhance your business strategies.

Certificate

Attendees who participate in at least 6 out of the 9 webinars in the series will be eligible to receive a certificate titled “Introduction to Dynamic Business Models.” This is an opportunity to gain recognition of your learning in this innovative field. For those who cannot attend live sessions, recordings will be available, allowing you to review the material and complete the series at your convenience.

Watch the recording to get your certificate code.

Watch the recording below

About the Speaker

Kim Warren is an experienced strategy professional, teacher, and publisher of online courses and teaching resources on business modeling – fast becoming a mainstream capability for executives, consultants, and business students. He was awarded the Jay Wright Forrester Award by the International System Dynamics Society in 2005 and was the Society’s President in 2013.

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Demo Model