Question Tag: Business Strategy

Search 500 + past questions and counting.

  • Filter by Professional Bodies

  • Filter by Subject

  • Filter by Series

  • Filter by Topics

  • Filter by Levels

  • 5 Marks

AA – Nov 2024 – L2 – Q2b – Advantages of Outsourcing Internal Audit

Explain the advantages and disadvantages of outsourcing the internal audit function.

As organisations look for ways to cut costs, the idea of outsourcing internal audit work goes on the agenda. While outsourcing may be appealing in theory, there are good reasons to keep internal audit in-house.

Required:
i) State TWO advantages of outsourcing the internal audit function. 
ii) State THREE disadvantages of outsourcing the internal audit function.

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "AA – Nov 2024 – L2 – Q2b – Advantages of Outsourcing Internal Audit"

  • 4 Marks

BMIS-Nov-2024-L1-Q5b- Example of a Non-Traditional Product Life Cycle

Identifies and explains a product or service whose life cycle doesn't follow the traditional stages.

Identify and explain an example of a product or service whose life cycle has not conformed to the traditional pattern of introduction, growth, maturity, and decline.

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BMIS-Nov-2024-L1-Q5b- Example of a Non-Traditional Product Life Cycle"

  • 10 Marks

BMIS-Nov-2024-L1-Q4a-Advantages of Appointing a Single Distributor in Ghana

Discusses the advantages of appointing a single distributor for business operations in Ghana.

Beta Equipment is a Taiwanese manufacturer of various types of printers and has recently decided to export its products to Ghana. Beta Equipment is considering appointing a single distributor in Ghana who would represent the exporter and would be responsible for the entire marketing operations in this country.
Required:
Explain FIVE advantages that Beta Equipment would achieve through the appointment of a single distributor for import and distribution of its products in Ghana.

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BMIS-Nov-2024-L1-Q4a-Advantages of Appointing a Single Distributor in Ghana"

  • 5 Marks

BMIS-Nov-2024-L1-Q3a- Arguments Against Maximizing Shareholder Wealth Through Rational Strategic Planning

This question discusses arguments against the notion that a company should focus solely on maximizing shareholder wealth through rational strategic planning.

A company should make rational strategic plans with the aim of maximising the wealth of its equity shareholders.”

Explain the arguments against the above statement.

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BMIS-Nov-2024-L1-Q3a- Arguments Against Maximizing Shareholder Wealth Through Rational Strategic Planning"

  • 15 Marks

FM – Nov 2016 – L3 – SC – Q7 – Mergers and Acquisitions

Advise on the benefits, drawbacks, alternatives, and target selection criteria for expansion through mergers or acquisitions.

One of the means by which companies expand is through mergers and acquisitions. However, there are other means of expansion aside from these methods.

Inkline Plc. is one of your client companies intending to expand its business by means of merger or acquisition. Your firm of management consultants has been asked to advise the management of the company on what steps to take while considering the merger and acquisition methods, and whether it should go ahead with the expansion programme or otherwise.

Required:

a. (i) FOUR benefits derivable from its proposed means of expansion. (4 Marks)
(ii) THREE probable demerits of employing its proposed method of expansion. (3 Marks)

b. TWO alternatives to merger and acquisition in your report. (2 Marks)

c. Where the company decides to go ahead with either of these methods, indicate THREE criteria the company may consider in choosing its target company. (6 Marks)

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "FM – Nov 2016 – L3 – SC – Q7 – Mergers and Acquisitions"

  • 30 Marks

CSME – Nov 2023 – L2 – Q1 – Business-Level Strategies

Analyze DITA’s strategy consistency with Porter’s six principles of strategic positioning and classify its strategic position.

Adeoye Oladejo was an exceptionally brilliant student. He graduated from the Department of Wildlife and Ecotourism in the Second-Class Upper Division. He was fortunate to undertake his youth service in Lagos with Dovic International Travel Agency (DITA), which apart from sales of tickets and hotel reservations, is reputed for organizing tours for individuals and groups to different parts of the world. By dint of hard work and impressive results in attracting clients to the travel agency, Adeoye was made a sales manager immediately after completing his service year. He held this position for two years, after which he was made a senior operations manager, a position he held before becoming the CEO.

The motto of the company is “service optimized,” and the company is very clear about its primary strategic goal, which is to optimize profit in the short, medium, and long terms. Hence, Adeoye, as the company CEO, undertook a specialized MBA course in International Business Management. He also wrote a book titled Optimizing Profit in International Tourism. In addition, he employed a business manager and an operations manager with very strong backgrounds in financial planning and strategic thinking, apart from the vast experience they acquired in the field of international tourism.

To ensure that DITA remains highly competitive in the global tourism arena, the company has different tourism packages for its clients from all parts of the world. These include cheap airfares, highly-rated hotels at unbelievably low prices, amazing tourist attractions, and the inclusion of rated artists (musicians, comedians, etc.) for the pleasure of their clients. What is quite significant is the fact that DITA has been able to establish excellent working relationships with airlines, hotels, and various service providers in the tourism industry, enabling it to provide world-class services at unbelievably cheap rates that its competitors find difficult to match.

Of course, the services that DITA offers are similar to those of its competitors in the tourism industry, but DITA has been able to introduce special flavors into its packages that render them more attractive than those of its competitors. These include free massages, horse riding, scuba diving, exquisite dinners, welcome parties, limousine airport shuttles, and much more.

However, DITA’s business strategies have trade-offs, which in the short, medium, and long terms offer it some competitive advantage. For instance, it does not offer services to large groups of people exceeding 50 at a time. Thus, it does not offer pilgrimage services. Nonetheless, DITA has become very popular among rated organizations, family groups, groups of friends, and other relatively small teams interested in organized tours to special places worldwide. Another trade-off of DITA’s strategies is that it does not sell travel tickets to individuals, only to groups.

Over two years, the CEO of DITA, in conjunction with the business and operations managers, has successfully established a synergy of all the elements of their business, making them intricately and seamlessly linked together, resulting in great success and a high return on investment for DITA.

To ensure continuity of its strategic direction, DITA organizes periodic training retreats for its staff and sends them on specialized training to enhance their productivity and commitment to the vision, strategic goals, and core values of the company. By doing so, it is systematically creating an impressive organizational culture that is key to its success. Overall, DITA has become a huge success story and a remarkable leader in the international tourism industry.

Required:

a. Discuss how the operations of DITA are consistent with Porter’s six principles of strategic positioning and how individual firms can achieve sustainable competitive advantage. (24 Marks)

b. A business entity can be classified as any one of the FOUR types in terms of strategic position.

i. Identify and briefly explain each of these types. (3 Marks)

ii. To which of these does DITA belong? (3 Marks)

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "CSME – Nov 2023 – L2 – Q1 – Business-Level Strategies"

  • 20 Marks

CSME – May 2023 – L1 – SA – Q2 – Risk Management and Corporate Strategy

Exploring risk management through identification, ranking, and stakeholder impacts.

Every business venture has some measure of risk exposure that must be identified, measured, and adequately prepared for. Indeed, each business entity should have in place a good risk management strategy.

As a risk manager, clarify the following in ways that will be comprehensible to a greenhorn in business:

(a) Risk identification. (5 Marks)

(b) Importance of ranking risks. (3 Marks)

(c) Examine the impact of risks on categories of stakeholders. (12 Marks)

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "CSME – May 2023 – L1 – SA – Q2 – Risk Management and Corporate Strategy"

  • 1 Marks

BMF – Nov 2020 – L1 – SA – Q4 – Business and Organizational Structures and Choices

Identify the item that is NOT part of strategic decision-making by the Board of Directors.

Strategic decision making by the Board of Directors includes the following, EXCEPT:
A. Decision to fix appropriate price for the company’s product
B. Setting strategic objectives for the business
C. Decision to withdraw from a market
D. Deciding the major business strategies
E. Setting total borrowing limits for the company

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BMF – Nov 2020 – L1 – SA – Q4 – Business and Organizational Structures and Choices"

  • 5 Marks

CSME – Nov 2016 – L2 – Q7a – Strategic Implementation

Discuss the principle of "Structure follows Strategy" in organizational management.

“Structure follows strategy”. Discuss.

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "CSME – Nov 2016 – L2 – Q7a – Strategic Implementation"

  • 10 Marks

CSME – Nov 2016 – L2 – Q5a – Ethics in Business

Explain the four possible ethical stances for a business entity using the Johnson and Scholes model.

With the aid of Johnson and Scholes Model, explain the FOUR possible ethical stances that a business entity should focus on.

 

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "CSME – Nov 2016 – L2 – Q5a – Ethics in Business"

  • 20 Marks

CSME – Nov 2016 – L2 – Q3 – Ethics in Business

Evaluate whether the decision to build a retail mega store in Ibadan instead of Lagos is ethical using Tucker's five-question model.

An indigenous company wants to set up a retail mega store in Ibadan, chosen for its population density and lower overhead costs compared to Lagos. In Ibadan, electricity supply is more consistent, and operational costs, including salaries, rent, and transportation, are significantly lower. The move would also result in less environmental impact due to reduced diesel generator use. The local government has approved the project, which will create jobs both during construction and after the store’s completion.

Required:
Using Tucker’s five-question model for ethical decision-making, determine whether the decision to build the store in Ibadan rather than Lagos is ethical. (20 Marks)

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "CSME – Nov 2016 – L2 – Q3 – Ethics in Business"

  • 5 Marks

CSME – Nov 2019 – L2 – Q6a – Strategic Planning Process

Defines business strategy and highlights key questions that a five-year business strategy must answer.

(a) Define “business strategy” and highlight EIGHT questions that a five-year business strategy must seek to answer. (5 Marks)

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "CSME – Nov 2019 – L2 – Q6a – Strategic Planning Process"

  • 15 Marks

PM – Nov 2016 – L2 – Q6 – Strategic Management Accounting

This question discusses how firms can monitor buyer bargaining power, reduce threats of new entrants, and reasons for continuing operations in low-return industries.

Michael Porter, in his book “Competitive Advantage: Creating and Sustaining Superior Performance,” suggested that a firm must assess the industry’s market attractiveness by considering the following:

  • The extent of the rivalry between existing competitors;
  • The bargaining power of suppliers;
  • The bargaining power of buyers;
  • The threat of substitutes; and
  • The threat of new entrants.

Required:
a. Recommend FIVE factors that should be included in the monitoring system implemented by the firm if a firm wishes to monitor the bargaining power of buyers. (5 Marks)

b. Explain FOUR different methods whereby a firm can reduce the threat of new entrants to an industry. (7 Marks)

c. Explain the reason why firms often continue to operate in an industry that is generating below-normal returns in the short run. (3 Marks)

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "PM – Nov 2016 – L2 – Q6 – Strategic Management Accounting"

  • 24 Marks

MGE – May 2018 – L2 – Q1a – Strategic Planning Process

Application of the BCG Matrix for product categorization and strategy development for Zidat Bottling Company.

Zidat Bottling Company has five different products: Zidat Cola, Zidat Orange, Zidat Apple, Zidat Bitters, and Zidat Water. Faced with economic recession in the country, the company consulted you as an expert in business strategic management to advise it on the usefulness of the Boston Consulting Group (BCG) matrix in its efforts to enhance the company’s overall profitability.

i. Discuss the different categories into which Zidat’s products can be grouped and specify how the company should treat each of the product groups in accordance with the specifications of the BCG matrix. (8 Marks)

ii. Discuss the limitations of the BCG matrix. (11 Marks)

iii. Advise the company on whether or not it should adopt the matrix in analyzing the competitive strength of its products to enhance overall profitability. (5 Marks)

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "MGE – May 2018 – L2 – Q1a – Strategic Planning Process"

  • 15 Marks

CSME – Nov 2018 – L2 – Q6 – Corporate Strategy Formulation

Explain the BCG Model with a diagram to analyze a firm's business portfolio, detailing the four product categories.

As part of a training session in strategic management, deploy a diagram to explain how a firm would use the Boston Consulting Group (BCG) model to analyze its business portfolio. Explain each category of products identified in the BCG model.

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "CSME – Nov 2018 – L2 – Q6 – Corporate Strategy Formulation"

  • 1 Marks

BMF – May 2016 – L1 – SA – Q1 – Business and Organizational Structures and Choices

This question focuses on identifying the business strategy of an entity with no strategic ambition to gain a larger market position.

An entity that does not have any strategic ambition to gain a position in the larger market environment is called …………………… Strategy:
A. Leader
B. Challenger
C. Follower
D. Sole Trader
E. Nicher

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BMF – May 2016 – L1 – SA – Q1 – Business and Organizational Structures and Choices"

  • 1 Marks

BMF – MAY 2015 – L1 – SA – Q13 – Basic Management Functions

Primary objective of strategic planning in business.

ONE of the primary objectives of strategic planning is to achieve:

A. Business strategy
B. A sustainable competitive advantage
C. Purpose of production
D. An aspiration
E. Business idea

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BMF – MAY 2015 – L1 – SA – Q13 – Basic Management Functions"

  • 20 Marks

BF – Nov 2015 – L1 – SB – Q1 – Nature of Business, Types, and Objectives

Discussing reasons for planning and types of planning based on time horizons.

The world in which businesses operate has become increasingly uncertain. By planning and identifying future risks and opportunities, businesses can act immediately to help create the most favourable future outcome and achieve goals and objectives.

a. State FIVE reasons for planning. (5 Marks)
b. Explain briefly THREE types of planning, considering time horizon. (15 Marks)

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BF – Nov 2015 – L1 – SB – Q1 – Nature of Business, Types, and Objectives"

  • 30 Marks

CSME – May 2019 – L2 – Q1 – Environmental Analysis

Prepare a business environment and competitive analysis for UBC Plc's intended investment in GSM phone manufacturing using SWOT, PESTEL, Porter’s Five Forces, and Kant’s categorical imperative.

a. You have just been contracted by UBC Plc to prepare a business plan on the company’s intended investment in the manufacture of GSM phones in the country. The following is a summary of the brief given to you and your own research:

  • UBC Plc is a multinational conglomerate involved in the manufacture and distribution of computer hardware accessories, networking hardware and allied products. With experience spanning four decades in the industry, the company’s products enjoy a lion’s share of the market. As part of its diversification strategy aimed at sustaining its competitive advantage, the company intends to start the production of GSM phones, targeting the mass market in the country.
  • The company plans to control at least 40% of the low-end GSM phone market in the country in the next five years.
  • UBC Plc possesses the requisite human resources and physical facilities necessary for the successful takeoff and growth of the new venture. The company also intends to leverage its extensive distribution network for its IT products covering major cities within the West African sub-region to distribute its new GSM phones.
  • The company also has modern equipment which can easily be converted into the production of GSM phones at little cost without significantly affecting the current production levels of other products. When this is done, the equipment will be able to produce more than 5 million GSM phones per annum.
  • While the company intends to expand its production capacity radically within the first few years of manufacturing GSM phones, it is still struggling to cope with the country’s incessant electric power failure which has made the company rely almost exclusively on the use of generators to power its equipment. This constitutes the bulk of its overhead costs.
  • The firm has signed a Memorandum of Understanding with a group of reputable firms abroad, which guarantees a steady supply of all required components and inputs.
  • The current value of the annual GSM phone demand in the country is estimated at N520 billion. Estimated demand growth rate is put at 5%. There is currently no local producer, as all of the GSM phones in the market are imported. However, there is currently a large number of local firms that act as distributors to foreign producers.
  • Except for regulations aimed at ensuring that only high-quality products are manufactured, there are currently no legal restrictions on local production of GSM phones. Furthermore, to encourage manufacturing, the government offers tax holidays to all manufacturers in the first five years of operation.
  • The estimated cost per unit of GSM phones designed for the mass market in the country is put at N8,000 while the current average price stands at N10,000.

Required:
a.
(i) A business environment analysis using SWOT and PESTEL analyses. (10 Marks)
(ii) A competitive analysis using the Porter’s Five Forces Model. (15 Marks)

b. Advise on Kant’s categorical imperative. (5 Marks)

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "CSME – May 2019 – L2 – Q1 – Environmental Analysis"

  • 10 Marks

BMIS – Nov 2019 – L1 – Q4b – Economic Factors in the Macro-Environment

State and explain five economic factors that influence opportunities or threats for organizations in the macro-environment.

4. (b) The macro-environment contains several conditions and factors that systematically present opportunities or pose threats to organizations in their effort to gain competitive advantage. The factors in the macro-environment for the purpose of effective analysis are grouped using the PEST model, which represents political, economic, socio-cultural, and technological factors. Understanding these factors will influence the kind of strategies business organizations would formulate.

Required:
State and explain FIVE (5) economic factors which determine the nature of opportunities or threats that organizations may face.

 

Login or create a free account to see answers

Login
Register

Find Related Questions by Tags, levels, etc.

Report an error
Report an error

You're reporting an error for "BMIS – Nov 2019 – L1 – Q4b – Economic Factors in the Macro-Environment"

Elevate your professional expertise across key business domains with our comprehensive training programs

Our offerings

Contact Info

  • +233203701923
    +233543919232
  • info@knowsia.com

Customer

Get In Touch

Follow us on our social media and get daily updates.

Facebook-f Twitter Linkedin-in Envelope
Oops!

This feature is only available in selected plans.

Click here to view all plans

Click on the login button below to login if you’re already subscribed to a plan or click on the upgrade button below to upgrade your current plan.

Login
Upgrade Plan

If you’re not subscribed to a plan, click on the button below to choose a plan

Subscribe to a plan