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Why is accounting important to the four phases of strategic management?
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- Basic Financial Planning
- Forecast-Based Planning (analysis leading to predictions)
- Externally Oriented Planning
- Strategic Management
Elementary School Teacher
Harvard University Business Review defines the four phases of strategic planning as:
These areas all rely upon accounting (accounting: the systematic comprehensive recording and summarizing of business and financial transactions, with verification and analysis of results) to accomplish their end objectives of planning, forecasting, predicting, and managing.
Posted by karythcara on July 18, 2013 at 10:12 PM (Answer #1)
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