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Strategic management accounting - Essay Example
Finance & Accounting
Pages 11 (2761 words)
Introduction Renishaw is a global company providing its customers with advanced and complex technological products. Technological advancement has helped the company in providing its customers with innovative and complex machinery to enhance their operational performance (Renishaw, 2012b)…
The company provides total technical support for the installation of the machinery sold to the global customers to gain their confidence and long-term relation (Funding Universe, n.d.). Renishaw is well recognized for its manufacturing of complex machineries that could help the customers to improve their efficiencies and their potential capacities along with greater quality of the products and improving of operational performance. Renishaw has always aimed to meet the unending needs of the customers by offering them technology beyond their reach and capability. The products offered by the company assures enhancement of quality and productivity along with superior customer service (Renishaw, 2012c). Renishaw was a private company in 1982 but in the year 1983 the company went public and offered stocks in the London’s Stock Exchange Market. Renishaw is quite hierarchical which indicates that the company is centralized and the decisions are made at the top management and then communicated to the other levels of management in the company (Renishaw, 2012a). This report would highlight the competitive strategy and strategic position of the Renishaw Company. This strategic analysis would be regarding the market sector, employment of appropriate strategic management and management accounting tools. ...
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