Individual Case Study Assignment (4,000 words) Business Synoptic Essay

Individual Case Study Assignment (4,000 words) Business Synoptic - Essay Example ook at the use of the supply chain management by Wal-Mart to enhance not only its competitive strategy but also its strategic management accounting approach. This is achieved by improving efficiency, having faster distribution and maintaining quality fresh merchandise in all the regional operations. As illustrated in the case study, Wal-Mart has devised two distinct strategic management approaches that are interlinked and hence compatible to the firm’s overall strategy as set by its founder Sam Walton of providing high quality products at affordable prices. These include competitive strategy and strategic management accounting (SMA). There are four major elements involved in Wal-Mart’s strategic management approach. These include situation analysis, strategy formulation, implementation and evaluation (Bivens, 2006). A company’s main competitive strategy is generally based on devising methods that can bring about a competitive advantage to its market segment (Johnson et al, 2006, Pg.242). On the other hand, SMA is concerned with providing and appraising a company with appropriate accounting information on its business operations as well as its rivals that can be utilised strategically in decision-making. According to the Chartered Institute of Management Accountants (CIMA), management accounting is ‘the process of identification, measurement, accumulation, analysis, preparation, interpretation and communication of information used by management to plan, evaluate and control within an entity and to assure appropriate use of and accountability for its resources’ (Caplan, 2004, Pg.1). Irwin and Clark (2006, Pg.2) identify Wal-Mart’s effective utilisation of ‘cost-saving technologies’ and advanced supply chain management is one of the key elements in the firms enviable growth. They also cite Wal-Mart global strategy, which has assisted the firm in its expansion, ease of trading, and technology. Wal-Mart is able to effectively utilise its efficient

Legal Services Bill 2006 Essay Example | Topics and Well Written Essays - 2000 words

Legal Services Bill 2006 - Essay Example In Great Britain, as far back as July 2003, Sir David Clementi was appointed to carry out an independent review of the regulatory framework for legal services in England and Wales. In December 2004, Sir David published a Report following his Review. The report was analysed by a number of luminaries, including Rob Baldwin, Julia Black, Martin Cave, Richard Brealey, Julian R Franks, Paul A. Grout, James Dow and Carlos Lapuerto, Jordi Blanes Vidal, Ian Jewitt, Clare Leaver and Stephen Davies.1 The bill as it will be observed, addresses three basic objectives, the primary being controlling of the legal profession. In the draft, and in the ultimate submissions of the bill, great care has been taken to ensure that the legal profession continues to be fearless and is allowed to retain its independence, and the faith of the customer, enshrined in the principle of 'Privilege' is also kept. In the draft, we see the emphasis on this.5 Therefore the CONTROLS envisaged is more to regulate the functioning and not to hamper with the independence of the legal practitioner. It addresses the concerns of unbridled misuse of legal protection and extraordinary abilities and privileges accorded to them. Giving the genuine practitioner a right and privilege to practice, removing the scrounge of unauthorized practitioners, and regulation of commercial companies, which can now be formed in the practice of law, is the chief laudable objective, with a separate body, which will oversee the functioning of all bar councils and associations has now sought to bring some order and create a more efficient legal system. Important Factor The most important impact will be on removing 'Village Barristers'. Those quacks who profess knowledge of law, and act as touts between the lawyer and the client. This bill gives definitions of a legal practitioner, and does away with those not qualified to practice law altogether from the judicial field. It is ironic that Great Britain had to take this long to bring in this legislation to stream line the legal profession, while elsewhere as in India for example, the Advocates Act did away with practitioners other than trained lawyers in one stroke, as far