This CPE course defines mission and vision statements, including how they differ, and illustrates the function of each in formulating a successful strategy. It discusses ways to pinpoint key stakeholders, outlines Mendelow’s matrix as a method of stakeholder prioritization, and identifies sources of stakeholder power. It examines stakeholder group relationship management, resolving competing stakeholder interests, corporate political activity, and stakeholder alliances.
▪ Identify key external factors that influence an organization’s strategy, including relationships with businesses, government, society, and other stakeholders.
▪ Recognize the use of vision and mission statements in orienting the organization’s strategy.
▪ Non-market strategy and forms of corporate political activity.
▪ Stakeholder management (stakeholders to include internal stakeholders, government and regulatory agencies, non-governmental organizations and civil society, industry associations, customers and suppliers).
▪ Vision and mission statements and their use in orientating the organization’s strategy.
▪ Building strategic alliances with stakeholders.
CGMA exam candidates
Management accountants wanting to develop skills in strategy development and implementation.
Management accounting experience or the equivalent.