THE POWER OF STRATEGIC MANAGEMENT ACCOUNTING FOR ENHANCING PERFORMANCE EFFICIENCY OF THE FOOD INDUSTRY
DOI:
https://doi.org/10.14456/aamr.2024.9Keywords:
Strategic Management Accounting, Operational Efficiency, Food IndustryAbstract
This research aims to study the power of strategic management accounting for enhancing performance efficiency of the food industry in the Thailand’s three southern border provinces. The study included a population group of 151 restaurant businesses. Data was collected through a questionnaire and semi-structured interviews, and analyzed using descriptive analysis, structural equation modeling, and content analysis. The research result reveals that the food industry holds a moderate level of opinion regarding the effectiveness of strategic management accounting on the industry's performance. In terms of the performance process, both the effectiveness and efficiency of the food industry, encompassing non-financial and financial aspects, reached a high level. Performance was assessed based on factors such as cost, the freshness of materials, timely and regular customer response, analysis of rivals' strengths in various aspects, and emphasis on service. Furthermore, the Casual Model developed to measure the impact of strategic management accounting on the food industry's performance effectiveness aligns with empirical data and confirms the hypotheses for all items.
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