Strategic Management Accounting Techniques and Organizational Sustainable Performance: Evidence from Industrial Estates in Rayong Area, Thailand
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Published:
Jun 28, 2019
Keywords:
Strategic Management Accounting Techniques Organizational Sustainable Performance Organizational Competitiveness
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Abstract
This study aims at investigating the relationships among strategic management accounting techniques, organizational competitiveness and organizational sustainable performance. Organizational competitiveness is also hypothesized to be a mediator of the research relationships. Strategic management accounting techniques comprises of strategic costing, strategic planning, control and performance measurement, strategic decision making, competitor accounting and customer accounting. In this study, 148 businesses in industrial estates in Rayong are the samples of the study. The results indicate that strategic planning, control and performance measurement, competitor accounting and customers accounting have a significant positive relationship with organizational competitiveness and organizational sustainable performance. Likewise, organizational competitiveness has an important positive association with organizational sustainable performance. For testing the mediating effects of the research relationships, organizational competitiveness is the mediator of the strategic planning, control and performance measurement-organizational sustainable performance relationships, the competitor accounting-organizational sustainable performance relationships and the customers’ accounting-organizational sustainable performance relationships. Accordingly, executives of firms need to develop, implement and improve strategic planning, control and performance measurement, competitor accounting and customers accounting in order to create their organizational competitiveness and generate organizational sustainable performance by investing in appropriate valuable resources to support these techniques aspects. Theoretical and managerial contributions, conclusion and suggestions and directions for future research are highlighted.
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References
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Al-Mawali, H. & Lam, T. (2016). Customer Accounting and Environmental Uncertainty: Sequential Explanatory Study. International Review of Management and Marketing, 6(3), 532-543.
Alsoboa, S. S. & Alalaya, M. M. (2015). Practices of Competitor Accounting and its Influence on the Competitive Advantages: An Empirical Study in Jordanian Manufacturing Companies. Global Journal of Management and Business Research, 15(3), 12-23.
Alsoboa, S., Al-Ghazzawi, A., & Joudeh, A., (2015). The Impact of Strategic Costing Techniques on the Performance of Jordanian Listed Manufacturing Companies. Research Journal of Finance and Accounting, 6(10), 116-127.
Amason, A. C. & Mooney, A. C. (1999). The Effects of Past Performance on Top Management Team Conflict in Strategic Decision Making. International Journal of Conflict Management, 10(4), 340-359.
Armstrong, J. S., & Overton, T. S. (1977). Estimating Non-Response Bias in Mail Surveys. Journal of Marketing Research, 14(3), 396-402.
Atkinson, A.A., Kaplan, R.S., Matsumura, E.M., & Young, S.M. (2012). Management Accounting – Information for Decision-Making and Strategy Execution (6th ed.). New Jersey: Pearson Prentice Hall.
Aykan, E. & Aksoylu, S. (2013). Effects of Competitive Strategies and Strategic Management Accounting Techniques on Perceived Performance of Businesses. Australian Journal of Business and Management Research, 3(7), 30-39.
Baron, R. M., & Kenny, D. A. (1986). The Moderator-Mediator Variable Distinction in Social Psychological Research: Conceptual, Strategic and Statistical Considerations. Journal of Personality and Social Psychology, 51, 1173–1182.
Blocher, E, J., Stout, D, E., & Cokins, G. (2010). Cost Management: A Strategic Emphasis (5th ed.). McGraw Hill, New York, NY.
BPP Professional Education, (2005). CIMA Management Accounting: Business Strategy. London: BPP Publishers.
Bromwich, M. (1990). The Case for Strategic Management Accounting: The Role of Accounting Information for Strategy in Competitive Markets. Accounting, Organization and Society, 15(1), 27-46.
Cadez, S., & Guilding, C. (2012). Strategy, Strategic Management Accounting and Performance: A Configurationally Analysis. Industrial Management & Data Systems, 112(3), 484-501.
Cadez, S., & Guilding, C. (2008). An Exploratory Investigation of an Integrated Contingency Model of Strategic Management Accounting. Accounting, Organizations and Society, 33, 836–863.
Cadez, S., & Guilding, C. (2007). Benchmarking the Incidence of Strategic Management Accounting in Slovenia. Journal of Accounting and Organizational Change, 3(2), 126-146.
Cäker, M. & Strömsten, T. (2010). Customer Accounting when Relationships and Networks Matter, in Accounting in Networks, ed. Håkansson H., Kraus K. & Lind J. New York: Routledge.
Chai-Amonphaisal, K. & Ussahawanitchakit, P. (2010). Strategic Management Accounting and Corporate Performance of Thai-Listed Companies: A Mediating Effect of Management Process. International Journal of Strategic Management, 10(1), 1-23.
Chan, S. C. H., & Mak, W. (2012). Benevolent Leadership and Follower Performance: The Mediating Role of Leader-Member Exchange (LMX). Asia-Pacific Journal of Management, 29, 285-301.
Chiekezie, N. R., Egbunike, P. A. & Odum, A. N. (2014). Adoption of Competitor Focused Accounting Methods in Selected Manufacturing Companies in Nigeria. Asian Journal of Economic Modeling, 2(3), 128-140.
Churchill, G. A., Jr. (1979). A Paradigm for Developing Better Measures of Marketing Constructs. Journal of Marketing Research, 16, 64–73.
Cinquini, L. & Tenucci, A. (2010). Strategic Management Accounting and Business Strategy: A Loose Coupling? Journal of Accounting & Organizational Change, 6(2), 228-259.
Cravens, K.S., & Guilding, C. (2001). An Empirical Study of the Application of Strategic Management Accounting Techniques. Advances in Management Accounting, 10, 95-124.
Elbanna, S. & Child, J. (2007). Influences on Strategic Decision Effectiveness: Development and Test of an Integrative Model. Strategic Management Journal, 28, 431-453.
Faulkenberry, K. (2015). Sustainable Competitive Advantages: Definition, Types, & Examples. https://www.arborinvestmentplanner.com/sustainable-competitive-advantages-definition-types-examples/
Fong, C. C. F., & Wong, J. (2012). Competitor Analysis and Accounting of Social Networking Site Service Companies in China. Journal of Technology Management in China, 7(3), 243-254.
Griff, M. (2014). Professional Accounting Essays and Assignments. Lulu Press, Inc
Guilding, C., & McManus, L. (2002). The Incidence, Perceived Merit and Antecedents of Customer Accounting: An Exploratory Note. Accounting, Organizations and Society, 27, 45-59.
Guilding, C., Cravens, K. S., & Tayles, M. (2000). An International Comparison of Strategic Management Accounting Practices. Management Accounting Research, 11, 113-135.
Guimarães, J. C., Severo, E., & Vasconcelos, C. R. (2017). Sustainable Competitive Advantage: A Survey of Companies in Southern Brazil. Brazilian Business Review, 14(3), 352-367.
Hair, J. F. Jr., Black W. C., Babin B. J., Anderson R. E. & Tatham R. L. (2010). Multivariate Data Analysis (6th ed.). New Jersey: Pearson Education International.
Håkansson, H. & Lind, J. (2007). Accounting in an Interorganizational Setting, in Chapman, C. S., Hopwood, A. G. & Shields, M. D. (eds), Handbook of Management Accounting Research Volume 2. Oxford: Elsevier, 885-902.
Hamel, G. & Media, D. (2014). What is strategic decision making? https://smallbusiness.chron.com/strategic-decision-making-23782.html.
Heinen, C. & Hoffjan, A. (2005). The Strategic Relevance of Competitor Cost Assessment: An Empirical Study of Competitor Accounting. Journal of Management Accounting Research, 3(1), 17-21.
Hilton, R. W. (2008). Managerial Accounting. (7th edition), New York: McGraw-Hill.
Kaplan, R. S., & Norton, D. P. (2001). The Strategy-focused Organization. Harvard Business School Process, Boston.
Kırlı, M. & Gümüş, H. (2011). The Implementation of Strategic Management Accounting Based on Value Chain Analysis: Value Chain Accounting. International Journal of Social Sciences and Humanity Studies, 3(1), 307-321.
Krejcie, R. V. & Morgan, D. W. (1970). Determining Sample Size for Research Activities. Psycholological Measurement, 30(3), 607-610.
Luther, R., & Sartawi, I. I. (2011). Managerial Practices of Quality Costing: An Evidence-based Framework. International Journal of Quality and Reliability Management, 28(7), 758–772.
March, J. G. (1991). How Decisions Happen in Organizations. Human-Computer Interaction, 6(2), 95-117.
Marimuthu, M., Arokiasamy, L., & Ismail, M. (2009). Human Capital Development and Its Impact on Firm Performance: Evidence from Developmental Economics. The Journal of International Social Research, 2(8), 265-272.
Matić, I., & Bulog, I. (2012). The Nature of Strategic Decision Making–exploiting the Role of Managers' Incremental and Radical Learning. The Journal of International Management Studies, 7(2), 7-19.
Mueller, C. G., Mone, M. A., & Barker, V. L. (2007). Formal Strategic Analyses and Organizational Performance: Decomposing the Rational Model. Organization Studies, 28, 853-883.
Noordin, R., Zainuddin, Y., & Tayles, M. (2009). Strategic Management Accounting Information Elements: Malaysian Evidence. Asia-Pacific Management Accounting Journal, 4(1), 17-34.
Nunnally, J. C., & Bernstein, I. H. (1994). Psychometric Theory. New York, NY: McGraw-Hill.
Oboh, C., & Ajibolade, S. (2017). Strategic Management Accounting and Decision Making: A Survey of the Nigerian Banks. Future Business Journal, 3(2), 119-137.
Phornlaphatrachakorn, K. (2017). Competitor Accounting and Marketing Performance: An Empirical Investigation of Electronics and Electrical Appliance Businesses in Thailand. University of the Thai Chamber of Commerce Journal Humanities and Social Sciences, 37(4), 35-55.
Porter, M. E. (1985). Competitive Advantage. Creating and Sustaining Superior Performance. Free Press, New York.
Raju, R. S. & Parthasarathy, A. (2009). Management: Text and Cases, (2nd ed.), PHI Learning Private Limited, New Delhi.
Reginald, M. B. (2001), Competitive Advantage: Sustainable or Temporary in Today’s Dynamic Environment? www.sba.muohio.edu/abas//brussels/reginaldbeal.pdf.
Richard, P. R. (2003). What in the World is Competitive Advantage, Policy Working Paper 105. www.anderson.ucla.edu/faculty/dick.rumel Docs/.../WhatisCA_03.pdf.
Roslender, R. & Hart, S. (2002). Integrating Management Accounting and Marketing in the Pursuit of Competitive Advantage: The Case for Strategic Management Accounting. Critical Perspectives on Accounting, 13(2), 255-277.
Santini, F. (2013). Strategic Management Accounting and Financial Performance in the Small and Medium Sized Italian Manufacturing Enterprises. Management Control, 1(1), 77-107.
Santos, J. B. & Brito, L. A. (2012). Toward a Subjective Measurement Model for Firm Performance. Brazilian Administration Review, 9(SI), 95-117.
Sayed, S, A, F. (2010). A Proposed Model for the Integration of Management Accounting Innovations to Support Enterprises on Global Excellence. Dissertation of Unpublished Accounting, Faculty of Commerce and Business Administration, Helwan University, p.66
Selvarajan, T. T., Ramamoorthy, N., Flood, P. C., Guthrie, J. P., MacCurtain, S. & Liu, W. (2007). The Role of Human Capital Philosophy in Promoting Firm Innovativeness and Performance: Test of a Causal Model. International Journal of Human Resource Management, 18(8), 1456-1470.
Tayles, M., Pike, R.H., & Sofian, S. (2007). Intellectual Capital, Management Accounting Practices and Corporate Performance: Perceptions of Managers. Accounting, Auditing & Accountability Journal, 20, 522-548.
Tuan, N. P. & Mai, N. T. (2012). A Firm Analysis Level of Supporting Industries in Hanoi City- Vietnam: Application of Resource-based View and Industrial Organization. International Journal of Business Management, 7(5), 53-72.
Ussahawanitchakit, P. (2017). Customer Accounting as a Valuable Approach of Strategic Management Accounting: Evidence from Hotel Businesses in Thailand. Journal of Business Administration, 40(154), 37-57.
Zhou, K. Z., Brown, J. R., & Dev, C. S. (2009). Market Orientation, Competitive Advantage, and Performance: A Demand-Based Perspective. Journal of Business Research, 62(11), 1063–1070.
Abdelraheem, A. A. E., Serajeldin, B. E. A., & Jedo, A. A. A. (2017). Strategic Cost and Activating Competitive Advantage. International Journal of Trend in Scientific Research and Development, 1(4), 337-342.
Ah Lay, T. & Jusoh, R. (2011). Business Strategy, Strategic Role of Accountant, Strategic Management Accounting and Their Links to Firm Performance: An Exploratory Study of Manufacturing Companies in Malaysia. Proceeding in Accounting Research and Education Conference, University Teknologi MARA1-27.
Alamri, A. M. (2018). Strategic Management Accounting and the Dimensions of Competitive Advantage: Testing the Associations in Saudi Industrial Sector. International Journal of Academic Research in Accounting, Finance and Management Sciences, 8(2), 48-64.
Al-Mawali, H. & Lam, T. (2016). Customer Accounting and Environmental Uncertainty: Sequential Explanatory Study. International Review of Management and Marketing, 6(3), 532-543.
Alsoboa, S. S. & Alalaya, M. M. (2015). Practices of Competitor Accounting and its Influence on the Competitive Advantages: An Empirical Study in Jordanian Manufacturing Companies. Global Journal of Management and Business Research, 15(3), 12-23.
Alsoboa, S., Al-Ghazzawi, A., & Joudeh, A., (2015). The Impact of Strategic Costing Techniques on the Performance of Jordanian Listed Manufacturing Companies. Research Journal of Finance and Accounting, 6(10), 116-127.
Amason, A. C. & Mooney, A. C. (1999). The Effects of Past Performance on Top Management Team Conflict in Strategic Decision Making. International Journal of Conflict Management, 10(4), 340-359.
Armstrong, J. S., & Overton, T. S. (1977). Estimating Non-Response Bias in Mail Surveys. Journal of Marketing Research, 14(3), 396-402.
Atkinson, A.A., Kaplan, R.S., Matsumura, E.M., & Young, S.M. (2012). Management Accounting – Information for Decision-Making and Strategy Execution (6th ed.). New Jersey: Pearson Prentice Hall.
Aykan, E. & Aksoylu, S. (2013). Effects of Competitive Strategies and Strategic Management Accounting Techniques on Perceived Performance of Businesses. Australian Journal of Business and Management Research, 3(7), 30-39.
Baron, R. M., & Kenny, D. A. (1986). The Moderator-Mediator Variable Distinction in Social Psychological Research: Conceptual, Strategic and Statistical Considerations. Journal of Personality and Social Psychology, 51, 1173–1182.
Blocher, E, J., Stout, D, E., & Cokins, G. (2010). Cost Management: A Strategic Emphasis (5th ed.). McGraw Hill, New York, NY.
BPP Professional Education, (2005). CIMA Management Accounting: Business Strategy. London: BPP Publishers.
Bromwich, M. (1990). The Case for Strategic Management Accounting: The Role of Accounting Information for Strategy in Competitive Markets. Accounting, Organization and Society, 15(1), 27-46.
Cadez, S., & Guilding, C. (2012). Strategy, Strategic Management Accounting and Performance: A Configurationally Analysis. Industrial Management & Data Systems, 112(3), 484-501.
Cadez, S., & Guilding, C. (2008). An Exploratory Investigation of an Integrated Contingency Model of Strategic Management Accounting. Accounting, Organizations and Society, 33, 836–863.
Cadez, S., & Guilding, C. (2007). Benchmarking the Incidence of Strategic Management Accounting in Slovenia. Journal of Accounting and Organizational Change, 3(2), 126-146.
Cäker, M. & Strömsten, T. (2010). Customer Accounting when Relationships and Networks Matter, in Accounting in Networks, ed. Håkansson H., Kraus K. & Lind J. New York: Routledge.
Chai-Amonphaisal, K. & Ussahawanitchakit, P. (2010). Strategic Management Accounting and Corporate Performance of Thai-Listed Companies: A Mediating Effect of Management Process. International Journal of Strategic Management, 10(1), 1-23.
Chan, S. C. H., & Mak, W. (2012). Benevolent Leadership and Follower Performance: The Mediating Role of Leader-Member Exchange (LMX). Asia-Pacific Journal of Management, 29, 285-301.
Chiekezie, N. R., Egbunike, P. A. & Odum, A. N. (2014). Adoption of Competitor Focused Accounting Methods in Selected Manufacturing Companies in Nigeria. Asian Journal of Economic Modeling, 2(3), 128-140.
Churchill, G. A., Jr. (1979). A Paradigm for Developing Better Measures of Marketing Constructs. Journal of Marketing Research, 16, 64–73.
Cinquini, L. & Tenucci, A. (2010). Strategic Management Accounting and Business Strategy: A Loose Coupling? Journal of Accounting & Organizational Change, 6(2), 228-259.
Cravens, K.S., & Guilding, C. (2001). An Empirical Study of the Application of Strategic Management Accounting Techniques. Advances in Management Accounting, 10, 95-124.
Elbanna, S. & Child, J. (2007). Influences on Strategic Decision Effectiveness: Development and Test of an Integrative Model. Strategic Management Journal, 28, 431-453.
Faulkenberry, K. (2015). Sustainable Competitive Advantages: Definition, Types, & Examples. https://www.arborinvestmentplanner.com/sustainable-competitive-advantages-definition-types-examples/
Fong, C. C. F., & Wong, J. (2012). Competitor Analysis and Accounting of Social Networking Site Service Companies in China. Journal of Technology Management in China, 7(3), 243-254.
Griff, M. (2014). Professional Accounting Essays and Assignments. Lulu Press, Inc
Guilding, C., & McManus, L. (2002). The Incidence, Perceived Merit and Antecedents of Customer Accounting: An Exploratory Note. Accounting, Organizations and Society, 27, 45-59.
Guilding, C., Cravens, K. S., & Tayles, M. (2000). An International Comparison of Strategic Management Accounting Practices. Management Accounting Research, 11, 113-135.
Guimarães, J. C., Severo, E., & Vasconcelos, C. R. (2017). Sustainable Competitive Advantage: A Survey of Companies in Southern Brazil. Brazilian Business Review, 14(3), 352-367.
Hair, J. F. Jr., Black W. C., Babin B. J., Anderson R. E. & Tatham R. L. (2010). Multivariate Data Analysis (6th ed.). New Jersey: Pearson Education International.
Håkansson, H. & Lind, J. (2007). Accounting in an Interorganizational Setting, in Chapman, C. S., Hopwood, A. G. & Shields, M. D. (eds), Handbook of Management Accounting Research Volume 2. Oxford: Elsevier, 885-902.
Hamel, G. & Media, D. (2014). What is strategic decision making? https://smallbusiness.chron.com/strategic-decision-making-23782.html.
Heinen, C. & Hoffjan, A. (2005). The Strategic Relevance of Competitor Cost Assessment: An Empirical Study of Competitor Accounting. Journal of Management Accounting Research, 3(1), 17-21.
Hilton, R. W. (2008). Managerial Accounting. (7th edition), New York: McGraw-Hill.
Kaplan, R. S., & Norton, D. P. (2001). The Strategy-focused Organization. Harvard Business School Process, Boston.
Kırlı, M. & Gümüş, H. (2011). The Implementation of Strategic Management Accounting Based on Value Chain Analysis: Value Chain Accounting. International Journal of Social Sciences and Humanity Studies, 3(1), 307-321.
Krejcie, R. V. & Morgan, D. W. (1970). Determining Sample Size for Research Activities. Psycholological Measurement, 30(3), 607-610.
Luther, R., & Sartawi, I. I. (2011). Managerial Practices of Quality Costing: An Evidence-based Framework. International Journal of Quality and Reliability Management, 28(7), 758–772.
March, J. G. (1991). How Decisions Happen in Organizations. Human-Computer Interaction, 6(2), 95-117.
Marimuthu, M., Arokiasamy, L., & Ismail, M. (2009). Human Capital Development and Its Impact on Firm Performance: Evidence from Developmental Economics. The Journal of International Social Research, 2(8), 265-272.
Matić, I., & Bulog, I. (2012). The Nature of Strategic Decision Making–exploiting the Role of Managers' Incremental and Radical Learning. The Journal of International Management Studies, 7(2), 7-19.
Mueller, C. G., Mone, M. A., & Barker, V. L. (2007). Formal Strategic Analyses and Organizational Performance: Decomposing the Rational Model. Organization Studies, 28, 853-883.
Noordin, R., Zainuddin, Y., & Tayles, M. (2009). Strategic Management Accounting Information Elements: Malaysian Evidence. Asia-Pacific Management Accounting Journal, 4(1), 17-34.
Nunnally, J. C., & Bernstein, I. H. (1994). Psychometric Theory. New York, NY: McGraw-Hill.
Oboh, C., & Ajibolade, S. (2017). Strategic Management Accounting and Decision Making: A Survey of the Nigerian Banks. Future Business Journal, 3(2), 119-137.
Phornlaphatrachakorn, K. (2017). Competitor Accounting and Marketing Performance: An Empirical Investigation of Electronics and Electrical Appliance Businesses in Thailand. University of the Thai Chamber of Commerce Journal Humanities and Social Sciences, 37(4), 35-55.
Porter, M. E. (1985). Competitive Advantage. Creating and Sustaining Superior Performance. Free Press, New York.
Raju, R. S. & Parthasarathy, A. (2009). Management: Text and Cases, (2nd ed.), PHI Learning Private Limited, New Delhi.
Reginald, M. B. (2001), Competitive Advantage: Sustainable or Temporary in Today’s Dynamic Environment? www.sba.muohio.edu/abas//brussels/reginaldbeal.pdf.
Richard, P. R. (2003). What in the World is Competitive Advantage, Policy Working Paper 105. www.anderson.ucla.edu/faculty/dick.rumel Docs/.../WhatisCA_03.pdf.
Roslender, R. & Hart, S. (2002). Integrating Management Accounting and Marketing in the Pursuit of Competitive Advantage: The Case for Strategic Management Accounting. Critical Perspectives on Accounting, 13(2), 255-277.
Santini, F. (2013). Strategic Management Accounting and Financial Performance in the Small and Medium Sized Italian Manufacturing Enterprises. Management Control, 1(1), 77-107.
Santos, J. B. & Brito, L. A. (2012). Toward a Subjective Measurement Model for Firm Performance. Brazilian Administration Review, 9(SI), 95-117.
Sayed, S, A, F. (2010). A Proposed Model for the Integration of Management Accounting Innovations to Support Enterprises on Global Excellence. Dissertation of Unpublished Accounting, Faculty of Commerce and Business Administration, Helwan University, p.66
Selvarajan, T. T., Ramamoorthy, N., Flood, P. C., Guthrie, J. P., MacCurtain, S. & Liu, W. (2007). The Role of Human Capital Philosophy in Promoting Firm Innovativeness and Performance: Test of a Causal Model. International Journal of Human Resource Management, 18(8), 1456-1470.
Tayles, M., Pike, R.H., & Sofian, S. (2007). Intellectual Capital, Management Accounting Practices and Corporate Performance: Perceptions of Managers. Accounting, Auditing & Accountability Journal, 20, 522-548.
Tuan, N. P. & Mai, N. T. (2012). A Firm Analysis Level of Supporting Industries in Hanoi City- Vietnam: Application of Resource-based View and Industrial Organization. International Journal of Business Management, 7(5), 53-72.
Ussahawanitchakit, P. (2017). Customer Accounting as a Valuable Approach of Strategic Management Accounting: Evidence from Hotel Businesses in Thailand. Journal of Business Administration, 40(154), 37-57.
Zhou, K. Z., Brown, J. R., & Dev, C. S. (2009). Market Orientation, Competitive Advantage, and Performance: A Demand-Based Perspective. Journal of Business Research, 62(11), 1063–1070.