Submit a reply of at least 250 words, the reply may be in the first person and does not need to have scholarly support since this is adiscussion.must be in current APA format in terms of grammar and p

Submit a reply of at least 250 words, the reply may be in the first person and does not need to have scholarly support since this is adiscussion.must be in current APA format in terms of grammar and punctuation, aswell as proper citations if resources are used. If resources are used, your replies must include areference list. Make sure you are adding to the discussion with each reply. The original post andthe replies are meant to simulate classroom discussions.

Strategic Allocation of Resources

At the core of any successful organization is a team of people that make strategic decisions which affect business operations and their resources. An important aspect of decision-making involves understanding the organization’s goals and capabilities in order to strategically allocate the right resources to achieve success. Strategic allocation of resources involves managing funding, personnel, and equipment to achieve organizational objectives. This is an ongoing process as requirements change and/or projects are added.

Admittedly, finance and accounting in an academic setting are often a challenge for me. Though my master’s degree required a fair amount of courses that focused on this topic, I look forward to further expanding my breadth of knowledge in this area in hopes that I will be able to provide valuable insight to my organization. Furthermore, I am interested in learning the inner workings of business strategy from the lens of a controller and management accountant.

This week’s reading examines the four functions of management as it relates to cost information. The cost information is developed by the management accountant who supplies data in support of the four functions of management: (1) strategic management, (2) planning and decision making, (3) management and operational control, and (4) preparation of financial statements (Blocher et al., 2025). This was a good reminder to come across as cost information is vital to the success of each function and since it is most often provided routinely in business meetings, the value can easily be overlooked. However, without it, project planning and fulfilling requirements would experience delays.

Another aspect of this week’s reading that piqued my interest is the 13 methods of contemporary management techniques. As a program manager with the responsibility of leading teams, amongst many other things, I place a good amount of focus on continuous process improvement. By honing my understanding of the implementation strategies that may be utilized by higher leadership/management such as the balanced scorecard, it best equips me in guiding my team to successfully achieve the organization’s objectives. A highlight in my career thus far involved a military headquarters-level audit into my organization’s utilization of government resources, and our finance and accounting processes and reporting methods. As a result of ongoing strategic planning and continuous process improvement, the program was recommended as a benchmark for others to follow. I was the program manager and the lead person during the audit.   

Another area I need further insight into is the management accounting and control systems. The text explains that these systems act as a core performance measurement system for planning and evaluation components (Blocher et al., 2025). In a previous position, I was responsible for reviewing a project owner’s annual and sustainment budget each year. It was an unfamiliar task to my office, and I spent days attempting to understand it. I eventually caught on enough to provide feedback to the project owner and leadership. My hope is that this course can provide general insight to further my understanding of these systems and practices.

In a broader business sense, I find that strategic management of resources is a very relevant topic to explore and understand. From my personal experience, a common trend for organizations is to undergo periods of limited resources. This can be in the capacity of leaning operations, reducing manpower, or other forms of constraints. In these instances, it is especially important to thoughtfully allocate the right resources to the right place at the right time to help the organization meet objectives while being an effective steward of personnel, funding, or materials.

References

Blocher, E., Stout, D., Juras, P., & Smith, S. (2025). Cost Management: A Strategic Emphasis (10th ed.). Boston, MA: Richard D. Irwin, Inc