Accounting Gap Analysis and Benchmarking Assignment Homework Help
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Anthony’s Orchard Director of Operations Allison Sinclair expressed concern over the lack of successful efforts to measure organisational quality. Recall the following quote from her discussion of this issue
As a family-owned business with a history of success, it is easy to fall into the trap of believing that we do things properly almost by default—the ‘we’ve always done it this way’ and ‘if it ain’t broke don’t fix it’ arguments. The danger with that line of thinking is what if it is broken? What if the way we’ve always done things is good but ignores some best practises that could lead to even better performance?
We are now at a point where we are ready to commit to a strategy of continuous improvement and quality management. This is a big step forward for us. But taking the next step is not so easy. Developing and implementing a process is new to us and will require careful analysis. In short, we know where we would like to be but are unsure how best to get there.
In this Individual Assignment, you will suggest an approach to address these concerns. You will propose strategies the company could implement to move from its current status towards its goals for 2015 using the processes of gap analysis and benchmarking.
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To complete this assignment
1. Conduct a gap analysis for Anthony’s Orchard. This should include
a.A statement of where the organisation wishes to be by 2015 (use financial data for this, such as targeted revenues and/or profit)
b. A comparison of the current financial state of the organisation and the desired state by the end of fiscal year 2015
c. Your suggestion for ways the company can bridge the gap identified in your comparison above
2. Devise a benchmarking review for Anthony’s Orchard. To do this, discuss recommended strategies and measures that will be useful to measure progress towards the objective in your gap analysis.
You should fully state and justify any assumptions that you make in relation to the financial data you use. Be sure to include all references as well.
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