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Ethical Statement

Describe about the Management Accounting for Bakery Business.

For the purpose of this article of management accounting, we will consider a company with its own area of operation confined to bakery industry. This company has started its operation since the early 80’s and had crossed a long time through its journey which had seen lots of ups and downs. The company had started its operation with the effort of two apprentices who were good old friends from their childhood and they were with the background of good completion of their studies in bakery industry. They have started their operation in Melbourne in the early 80’s after they have completed their internships and they had opened up their counter with the intention to expand with long term planning. This company is our sample for the analysis towards management accounting with different aspects to be discussed with their past, present and future plan. The area of discussion will cover ethical statement covering mission, vision, objective and values; the development path of the organization; the barriers it had faced during its journey; strategies- past and present; PESTEL analysis; SWOT analysis; culture of the organization; the leadership approach as per the theories in context with relevant academic journals to conclude the viability of the organization with the implication of the sustainability of the company.

Ethical statement is the projected themes of the company. Being a bakery company, the organization had fixed its ethical statement right from the beginning which is being transformed from time to time with the basics of the same kept unchanged.

The vision of the company is to grow with the standards and quality to be at superior level to provide best possible bakery products to the customers.

The mission of the company is to serve the community with best quality eateries to have loyal customer base with no compromise on quality.

Objective of the company is tow fold- present and future. While the present objective of the company is:-

To serve the community

To provide best quality food stuffs

To use best quality ingredients

To make customers feel happy with the ambience of the counters

To compete with the rivals with the power of quality and service level.

The future objective of the company is:-

To expand through out the region of Australia

To reach the magic figure of 450 counters by next five years from 200 at present


To strengthen the infrastructure of the franchisees

The company is run by the following values:-

Ethical business

Government law compliances

Honouring the food safety act of Australia

Ensuring customer satisfaction

Increasing the range of products as per the taste of the companies

Prioritizing the interest of the stakeholders.

Right from inception the company had kept its goal high with the existence all over Australia. The company had started a small counter in Melbourne in the year 1981 with the varieties of four items along with hot and cold beverages. Standing at 2016, the company is well placed in the bakery industry of Australia with around 200 franchisee counters and with the customer base of around 1 million with their loyalty proved often by turning them to repeat customers. The company has changed its ambience of the shops and counters so that the customers can feel homely and pass some quality time in their shops.  With the proper guidance and the clear vision of the management, the company has followed the path of development with their clear objectives set and the strategies fixed for future development through expansion with quality product and service offered to the target audience. Development path of any organization is depending upon the objectives set by the organization for short and long term tenure with specific goal fixed tenure-wise to reach, and the destination thus fixed is achieved while the proper execution of strategy is fixed by the management to make the development path clearly visible and surely achieved (Cooney, 2012).

The organization is set with the fixed objectives so far its short and long term is concerned. It is found that when the organization is making its footfall in the market, initial objectives is set to make the foothold in the market. The long term objectives are set when the foothold in the market is strong. Subsequent strategies are fixed to accomplish the objectives with the constraints and barriers to be overcome by the organization.  We will discuss the strategies taken by the organization in the past and the present to accomplish their objectives with the success or failure of those strategies (FURGISON, 2016).

During inception, the company had adopted the strategies of marketing to make their footfall felt in the market by the consumers with the speciality and uniqueness of approach to make the organization able to viable their business. There are different strategies which were adopted out of which a few had failed and some were successful for the company to prove its sustainability in the market.


Initially the company had made a base kitchen where from they were catering their product to three different outlets which were of take-away and sit and eat concept. This strategy had initially proved to be successful, but when the company had expanded their units with more numbers in Melbourne city, the factor of distance had proved the strategy failed (academia21, 2010). 

The other initial strategy to make advertisement in the electronic media had made enormous pressure on the working capital of the company. Although the strategy had been taken to make the customers aware of the company with its products and services, it was mostly observed that the advertisement in the print media would have been more successful with lesser cost and higher reach to the customers.

After realising the negative points of those strategies, the company had made amendments of those strategies by way of introducing the decentralised strategies of kitchen. The company had also insisted in the advertisements in the print media to rectify the strategies after getting reverse reactions from the stakeholders in the form of suppliers, customers and the owners of the company (Carter, 2013).

Since Y2K, the company had taken the strategy of appointing the franchisee while the business volume is getting increased and the centralised management with control is not possible by the owners of the company. The strategy of appointing franchisees made good impact on the business of the company when the franchisees took the responsibility of running the show of the business in distant cities like Canberra, Sydney and New South Wales. The concept of franchisees proved to be more successful with the decentralised procurement system and the local advertisement with only the recipe of the products and the trade secret of the business passed on to the franchisees by way of lay out of the counters along with the unique type of interior decoration symmetrical to the standard norms of the counters of the company (whichfranchise, 2010).

The other strategy of catering the products in the institutional clients made the company looked more comfortable with more revenue generation followed by subsequent increase in profits. The institutional sales had been started since 2005 and the main clients are being segregated as hotels, schools, colleges and other business houses that need the product for their daily consumption with customised pattern of products and services. With the extension of this strategy, the company had started some cafeterias in some schools and colleges along with universities for the promotion of their products to the young generation who will prove themselves as the future customer with loyalty (Nunzio, 2014).


Environmental analysis of any organization is done to assess the viability of business of that company along with the assessment of factors for long term sustainability of the company. There are different instruments sued for this purpose like PESTEL analysis, SWOT analysis and internal and external factor analysis. In the following section, we will discuss them in accordance with the company (Bhuva, 2014).

Political factor- The Company runs its business in the country of Australia. It has its different units in different cities of different provinces. As the political situation of Australia is peaceful and supports business of any kind provided the compliance of regulations are made, there is no such problem for the company to run the business so far political context is concerned (RASTOGI & TRIVEDI, 2016).

Economical factor- the company has no such economical problem in Australia, as the banking sectors is ready to extend assistance to any aspirant business house to run the business who can prove their viability with economical strength (Madam, 2014).

Social factor- As the company is engaged in bakery, the society can not face any harm from it till it maintains its total quality management. As the company is complying the health related norms and rules to ensure the TQM of the company, there will be no social problem related with this business (pestleanalysis, 2015). 

Technological factor- The area of technology is improving daily in every field and the bakery business is no exception to avail the facilities of the latest technology. The company is taking the advantage of this facility and upgrade continuously the quality of their product with the aid of latest technology (pestleanalysis, 2015).

Ecological factor- The issues of ecology is causing a big concern so far business is concerned. In case of this company, ecology demands proper exhaustion of bio waste and lesser emission of green gas which is big concern for the global ecological balance. The company has taken proper actions through its franchisees to ensure the same.

Legal factor- the legal factor is not as important as the company compile the legal requirement through proper acquiring of different licenses for running the trade with utmost sincerity and professionalism (academia21, 2010).

Customers- For customers, the company keeps the high level of hygiene and health though its products.

Partners- The partners of this business are the stakeholders of the company whose interests are well protected through proper accounting and subsequent deliverance of dividends.


Industry – The industry is booming as the per capita consumption of the products are raising regularly and the company is well prepared for this situation by opening new franchisees across the country.

Unions- The unions of employees are maintain good relations with company as a reciprocal measure to prove their sustainability.

Competitors- The competitors are both domestic and MNCs whose existence is observed with analytical mind by the management and ensuring the proper action to combat the same (Adrienne, 2008).

Suppliers- The suppliers are the component of most important supply chain of the company and they are well engaged with the agreement so far procurement of the company is concerned.

Internal environments are being maintained through the actions initiated by the company to ensure proper process management, with the appropriate system, with employees and management are made for each other for smooth operation of the organization.

SWOT stands for strength, Weakness, Opportunity and threats; its help to prioritize the business goal (Ommani, 2011).

Brand value

Quality of products

Loyal customer base

Steady increase of business
Big network-sometimes unmanageable

Big human resource

Inappropriate delegation of authority
Scope of new overseas market

Serving the population with higher numbers

Effective supply chain management through proper supplier base
Multinational and domestic competitors

Stringent policies in food industry-if proposed by government

The company had seen so many leaders in its life through several CEOs who were engaged in exercising their leadership which supports the understanding of the subordinates and give value to their belief. The company had started from a scratch and now has around 300+ outlets which was possible for the efforts the CEOs render through setting the examples for true leadership (Wiza & Hlanganipai, 2014).


To conclude the business of bakery in Australia has enough potential and this company is heading towards proper direction which will ensure their growth with ensuring TQM. The company is run by professionals at every level of operation who can show their leadership of trait and behavioural theories to honour all employees with proper patient hearing to their views. The value addition process is continuous and the company is always looking for further betterment with their constant strive for customer satisfaction and maintaining the loyal customers by meeting their expectations to the fullest so far the food quality , appearance and the ambience of the counters are concerned. The company will look for a better future by expanding overseas with the franchisee model and the same mission will be successful in the year 2020 when they have planned to start their operation in New Zealand and Indonesia with further plan of expanding to China and Japan. It is mostly observed that the company is running business with professionalism and that is the key to their success in the provinces of Australia with a handful number of loyal targeted customers.


academia21, 2010. Bread Bakery – 10 Tips on How To Start A Bakery Business. [Online] Available at: [Accessed 07 September 2016].

Adrienne, 2008. “How To….” Undertake a Competitor Analysis. [Online] Available at: [Accessed 07 September 2016].

Bhuva, V., 2014. Study of Technological, Social and Global Environment for Australia. [Online] Available at: [Accessed 07 September 2016].

Carter, B., 2013. Bakery boom as best in the business expand. [Online] Available at: [Accessed 07 September 2016].

Cooney, T.M., 2012. Entrepreneurship Skills for Growth-Orientated Businesses; Copenhagen: OECD Dublin Institute of Technology.

FURGISON, L., 2016. The Baker’s Guide to Opening a Successful Bakery. [Online] Available at: [Accessed 07 September 2016].

Madam, K., 2014. Doing Business In Australia. [Online] Available at: [Accessed 07 September 2016].

Nunzio, J.D., 2014. Consumption Patterns and Food Demand in Australia to 2050. [Online] Available at: [Accessed 07 September 2016].

Ommani, A.R., 2011. (SWOT) analysis for farming system businesses management; African Journal of Business Management, 05(22), pp.9448-54.

pestleanalysis, 2015. PESTLE Analysis of Starbucks. [Online] Available at: [Accessed 07 September 2016].

pestleanalysis, 2015. Social Factors Affecting Business. [Online] Available at: [Accessed 07 September 2016].

RASTOGI, N. & TRIVEDI, M.K., 2016. PESTLE TECHNIQUE – A TOOL TO IDENTIFY EXTERNAL RISKS IN CONSTRUCTION PROJECTS; International Research Journal of Engineering and Technology (IRJET) , 03(01), pp.384-88.

whichfranchise, 2010. Bakers Delight franchise launches new brand strategy to support growth. [Online] Available at: [Accessed 07 September 2016].

Wiza, M. & Hlanganipai, N., 2014. The Impact of Leadership Styles on Employee Organisational Commitment in Higher Learning Institutions; Mediterranean Journal of Social Sciences, 05(04), pp.135-43.

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