Part_3_LOS_Strategic_Management

Part_3_LOS_Strategic_Management - CMA Learning Outcome...

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CMA Learning Outcome Statements Page 1 © 2008 Institute of Certified Management Accountants CMA PROGRAM Learning Outcome Statements (effective 7/1/04; updated 11/07) Part 3 Strategic Management
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CMA Learning Outcome Statements Page 2 © 2008 Institute of Certified Management Accountants Section A. Strategic Planning (Level B) Part 3 – Section A.1. Strategic and tactical planning The candidate should be able to: a. discuss how strategic planning determines the path an organization chooses for attaining its long-term goals and missions b. identify the time frame appropriate for a strategic plan c. identify the external factors that should be analyzed during the strategic planning process and understand how this analysis leads to recognition of organizational opportunities, limitations, and threats d identify the internal factors that should be analyzed during the strategic planning process and explain how this analysis leads to recognition of organizational strengths, weaknesses, and competitive advantages e. demonstrate an understanding of how the analysis of external and internal factors leads to the development of the overall organizational mission and that this mission leads to the formulation of long-term business objectives such as business diversification, the addition or deletion of product lines, or the penetration of new markets f. identify the role of capital budgeting and capacity planning in the strategic planning process g. explain why short-term objectives, tactics for achieving these objectives, and operational planning (master budget) must be congruent with the strategic plan and contribute to the achievement of long-term strategic goals h. explain why performance measurement and other reporting systems must be congruent with and support measurement of progress on strategic and operational measures i. identify the characteristics of successful strategic/tactical planning j. define contingency planning and discuss its importance, particularly where changes in external factors might adversely impact strategic plans Part 3 – Section A.2. Manufacturing paradigms The candidate should be able to: a. define a just-in-time system and describe its central purpose b. identify the operational benefits of implementing a just-in-time system c. define the term kanban and describe how kanban is used in a just-in-time system d. demonstrate an understanding of work cells and how they relate to just-in-time processes e. define material resource planning (MRP) and identify its benefits f. calculate subunits needed to complete an order for a finished product using MRP g. demonstrate an understanding of the concept of outsourcing and identify the benefits and limitations of choosing this option h. demonstrate an understanding of the theory of constraints and the steps involved in theory of constraints analysis
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CMA Learning Outcome Statements Page 3 © 2008 Institute of Certified Management Accountants i. define and calculate throughput contribution and demonstrate an understanding of
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Part_3_LOS_Strategic_Management - CMA Learning Outcome...

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