Management Accounting, Strategy and Control
This course examines management accounting and control and the link to strategy from multiple theoretical perspectives, i.e. both economic- and social-based theories. The course addresses issues such as the design and use and the different roles of management accounting and control systems for creating and sustaining value-creating strategies within firms and across organizational boundaries. Further, the course aims to develop the student’s ability for critical reflection, particularly by exploring the interplay between, on the one hand, the design, use and roles of management accounting and control systems and, on the other hand, new developments and pressures from the external environment, the spread of sustainability ideas and strategies, motivational and behavioral aspects, and information systems development.
The course includes four modules:
1. Control issues, such as empowerment and behavioral aspects of control
2. Management accounting and (sustainable) value creation
3. Cost management, IT and value creation
4. Inter-organizational management control and supply chain management
Module 1 addresses the role and position of management accounting and the management accountant/controller. Ethical aspects of control, such as empowerment, trust, and other behavioral issues are discussed more closely and the relations to traditional and newer forms of management accounting and control tools and frameworks are outlined.
Module 2 deals with the way organization’s management thinks and acts strategically in contemporary society and according to different stakeholder demands. Particular emphasis is put on organizations need to adapt to societal and economic changes with adequate management and risk controls but also with suitable/sustainable value creation models.
Module 3 addresses more in detail how value creation can be managed and measured (techniques and methods) and introduces different value concepts but also clarifies the relationship between cost management, pricing and strategy. Further, we demonstrate the way IT and visualization mechanisms (e.g. Business Intelligence) are part of today’s management practices.
Module 4 explores contemporary value creating processes including multiple organizations. In particular, this module explores the ways in which management accounting operates in an inter-organizational context and how it supports inter-organizational value Creation.