Accounting/Financial Services Provider Strategic Planning

Your team has been approached by an entrepreneur who wishes to establish a new organization. You have to partake in the strategic planning process for the newly proposed organization, an Accounting and taxation professional financial services provider, in Australia.

Required

Prepare a report in the academic writing method in which you:

1. Identify and discuss the characteristics of your chosen industry’s external environment by applying Porter’s Five Forces Analysis. (2 ½ pages)

2. Identify and discuss the best generic business strategy that you would advise the entrepreneur to follow, given your findings in requirement 1 above for your chosen industry (1/2 page)
• (The generic business strategy would be the company being a COST LEADER in the industry. Accounting and financial services are doing mostly pretty standard procedures, so no point of product differentiation, thus, it will be a cost leader. So, discuss/expound the reasons on how you come up and why is it best to be a cost leader in the accounting/taxation professional financial services provider industry)
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3. BALANCED SCORECARD (2 pages)
a. Identify the four critical business perspectives and for each perspective:
• identity 2 objectives which will assist to achieve the chosen business strategy (from requirement 2) and explain why you have chosen these objectives in light of the results from your external environment investigation from requirement 1

b. for each objective identified in requirement 3(a) ,
• • identify two relevant SMART Key Performance Indicator (KPI) to measure the achievement of the objective and explain how each KPI meets the SMART criteria and is relevant to the strategic objective