Topic > Porter's Five Forces - 2167

The literature suggests that “rapid changes in the external environment of organizations have been accompanied by calls for accountants to change the nature of the information they provide, the skills they possess and the role they they perform in the organization. The proposed changes, which are encapsulated under the phrase strategic positioning accounting or strategic management accounting, are two-pronged. On the one hand, accountants are required to reposition themselves in the organization's hierarchy where they will be involved in the formulation, implementation and choice of strategies. Accountants are also being urged to adopt a range of techniques whose emphasis is futuristic and external to the business, particularly highlighting the importance of monitoring customers and competitors.” (Nyarnori, 2000). Based on my studies of the stock brokerage industry, I agree with the statement that "The tools and techniques covered in the Strategic Cost Management and Strategic Business Analysis courses are very useful in providing decision-oriented information to the senior management of my organization and such information will ultimately increase its business value. The essay (How Porter's Five Forces Model Shapes Strategy for a New and Small Stockbroker) can be one of the applications of those techniques learned from the strategic cost management and strategic business analysis.1. IntroductionThe stockbroking (or called stockbroking) industry can be divided into three categories: the multinational financial giants, the traditional consultant-based stockbrokers and Internet-based stockbrokers. Large-scale multinational financial giants are probably represented by the renowned investment banks such as Goldman Sachs, UBS, D...... middle of paper ......back and learning, in so that the strategy can be implemented throughout the organization.6. In Conclusion Porter's Five Forces Model technique is discussed in this essay and applied to the model to define the strategy of a new and small business in the stockbroking industry. The weakest point in the industry could be the consultant-based local brokers and need-based positioning could be the right strategy to enable the company to survive in the fierce competitive market. Although myriad tools and techniques learned in strategic cost management and strategic business analysis courses are not fully exploited in this essay, it is generally recognized that such techniques are useful for a company to formulate strategies, do strategic planning, control costs and quality, as well as possibly raising its values, regardless of its nature and size. of organizations.