Question Tag: Strategic Planning

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  • 5 Marks

SCS – Nov 2024 – L3 – Q4a – Capital Budgeting Framework

Explanation of the five key elements in the capital budgeting framework for investment appraisal.

One of the Board members, Dr. Halimatu Sadia, has expressed concerns regarding Dr. Ayimadu Baffour’s consistent failure to conduct investment appraisals and capital budgeting when making long-term investment decisions.

Required:

Advise Dr. Ayimadu Baffour on the capital budgeting and strategic planning framework used for conducting investment appraisals by briefly outlining the FIVE key elements of the framework.

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  • 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.

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  • 20 Marks

MGE – Nov 2014 – L2 – Q2 – Strategic Planning Process

Elements of a corporate mission statement to reflect values, customer focus, and ethical operations.

In January 2014, Mr. Uzodike Okoh, the Managing Director of DEF Oil Mills Limited, constituted a Strategic Planning Committee to coordinate the development of a five-year strategic plan for the company. This is the first time a formal strategic plan is being attempted in the company.

After several meetings of the Strategic Planning Committee, Mr. Ibrahim Edoro, the Chairman of the Strategic Planning Committee, presented what he described as a road map to actualize the objectives of the company. Several sub-committees were constituted to work on different aspects of the strategic plan.

Mrs. Edwards is the Chairperson of the sub-committee assigned to articulate and draw up the mission statement of the company. The Chairman of the Strategic Planning Committee took particular interest in the work of this sub-committee because, according to him, an appropriate mission statement would set the tone of the strategic plan, galvanise energies of the entire workforce, and set a clear direction for the company.

At the first meeting of the mission statement’s sub-committee, Mrs. Edwards distributed working papers, which included the history of the company. Speeches delivered by the pioneer Managing Director on different occasions and mission statements of similar companies were also provided.

The next meeting of the sub-committee was a brainstorming session in which participants were asked to identify the key elements that should be incorporated into the mission statement of the company.

Required:

As a member of the sub-committee on mission statement, identify and explain any FIVE elements which may be incorporated into the mission statement of the company.
(20 Marks)

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  • 30 Marks

CSME – May 2017 – L2 – SA – Q1 – Strategic Planning Process

Develop a business plan for a fast-food franchise and explain the product life cycle with stakeholder analysis.

Gbenga Alimi wants to establish a fast food restaurant in Koko, a state in Naijaland. A well-known global fast-food outfit in Naijaland has agreed to give him a franchise to operate the business in the state. However, the franchisor has requested Gbenga to present a viable business plan for assessment.

Required:

a. Outline the contents of a business plan addressing the proposed franchise’s viability. (20 Marks)

b. Use a graphical representation to educate Gbenga on the four stages of the classical product life cycle. (6 Marks)

c. Within an organizational context, distinguish between:

i. Narrow and wide stakeholders
ii. Active and passive stakeholders

(4 Marks)

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  • 30 Marks

CSME – May 2023 – L1 – SA – Q1 – Strategic Implementation

Strategies for market expansion, sustainable advantage, and industry environment for a medium-scale food processing firm.

Oyinbo Industries Limited is a medium-scale enterprise involved in the processing and packaging of local (traditional) food items for the Nigerian market. Its product portfolio includes Instant Elubo Powder, Instant Pounded Yam Powder, and Instant Beans Powder, all of which have been successful in the Nigerian market. The company hopes to expand its market coverage to the United States, United Kingdom, France, Canada, and the United Arab Emirates, which are believed to be viable new markets for the products.

To achieve these goals, the company plans to strengthen its position in the Nigerian market, focusing on increasing market share, sales growth, and profitability. Recently, it expanded its product range by introducing Instant Plantain Powder, Instant Soya Beans Powder, and Garri Ijebu. The table below shows current market and sales growth for each product:

*Products introduced into the market in 2021

The company’s current market growth rate for each product is over 10%, largely due to population growth and concerns about food hygiene in open markets. Oyinbo Industries seeks to leverage this opportunity to become a leader in processed and packaged foods in Nigeria.

However, competitors are mainly cottage industries and small-scale producers who, despite limited resources, control substantial market share. These firms primarily depend on small rural farmers for raw materials, which are abundant but lack regulation.

As part of its growth plan, Oyinbo Industries intends to secure a raw material supply by acquiring farmland in Kwara State. It also aims to collaborate with a local fabricator for its processing equipment. In the next phase, the firm plans to leverage its distribution network and internal capabilities to expand market share in Nigeria and increase sales of new products. However, challenges such as frequent power outages and equipment breakdowns remain.

Required:

  1. (a) Advise on strategies for each product that align with the company’s strategic direction using Ansoff Growth Vector Analysis. (13 Marks)
  2. (b) Explain how to achieve sustainable competitive advantage using Michael Porter’s Six Principles. (6 Marks)
  3. (c) Describe key business environment elements using the PESTEL framework. (6 Marks)
  4. (d) Identify the type of integration strategy being pursued and discuss potential drawbacks. (5 Marks)

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  • 20 Marks

PM – Nov 2015 – L2 – Q4 – Strategic Management Accounting

Examine strategic and performance issues MOOJ Ltd. must consider before adopting internet trading.

The existing business of MOOJ Ltd. is very profitable, with forecasts for the next year
showing that this trend of profitability will continue.
MOOJ Limited manufactures all of its own clothes, and then sells these direct to the
public through 105 branches located around Nigeria. The branches are not run as profit
centres; prices are set centrally for the clothes and the costs of each branch are
monitored at the Head Office. Surprisingly, there is no minimum or maximum turnover
requirement for each branch. In the company‟s view, this enables staff to focus on
customer service without the concern of meeting a profit figure. The strategy obviously
works well, given the company‟s results.
The existing Information Technology (IT) infrastructure is based around each shop
maintaining its own inventory records. There is no Wide Area Network (WAN) and Head
Office has few integrated systems.
The Directors recognise that the current IT infrastructure of MOOJ Limited is inadequate
for Internet trading.
The Board of MOOJ Limited is currently discussing whether or not to start selling clothes
on the Internet.

Required:
Identify and discuss the strategic and performance management issues that the Board of
MOOJ Limited will have to address prior to a decision being taken regarding trading on
the Internet.

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  • 30 Marks

CSME – Nov 2016 – L2 – Q1 – Environmental Analysis

Analyze Pallat Manufacturing's macro-environment using the PESTEL model, discuss limitations, and explain risk audit stages.

Pallat Manufacturing Company Limited was incorporated in Nigeria in 2004 and has made significant progress since its inception. The company manufactures cosmetics which it distributes throughout the country. However, the company is currently experiencing problems arising from major changes in its business environment. To deal with these challenges, the company set up a team of managers drawn from various departments. The team was required to evaluate the company’s current strategies in light of the challenges occurring in its environment.

a. With the aid of the PESTEL model, write a brief to be presented at the next scheduled meeting of the team, highlighting the significant factors in the macro-environment of the firm. (18 Marks)

b. Discuss TWO limitations of using the PESTEL analysis. (7 Marks)

c. As an Accountant, determine the FOUR stages involved in risk audit. (5 Marks)

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  • 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)

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  • 10 Marks

CSME – Nov 2020 – L2 – Q1b – Corporate Governance

Clarify the nature and objectives of a mission statement in relation to strategic management.

Clarify the nature and objectives of a mission statement.

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  • 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

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  • 15 Marks

PM – May 2018 – L2 – Q7 – Strategic Management Accounting

This question asks for the classification of five products using the BCG matrix and an analysis on how this helps the company in strategic decision-making regarding products and markets.

Adrak Nigeria Limited produces five different products, and sells each product in a
different market.
The management accountant has obtained the following information about
market size and market share for each product which consists of actual data for
each of the last three years and forecasts for the next two years:

 

 

In the current year, the market share of the market leader or the nearest competitor
to the company has been estimated as follows:

Market share of market leader or the company‟s nearest competitor
Market for: %
Product 1: 37
Product 2: 26
Product 3: 12
Product 4: 29
Product 5: 20

Required:
a. Using the Boston Consulting Group model, how should each of these
products be classified? (7 1/2 )
b. How will this analysis help the management of the company to make
strategic decisions about its future products and markets („product-market
strategy‟)? (7 1/2 )
/2 Marks)

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  • 6 Marks

BMIS – NOV 2019 – L1 – Q3a – Mission Statement

Write a mission statement for Hard Leather Limited, a footwear manufacturing company with products for middle and upper classes.

a) Hard Leather Limited is a footwear manufacturing company with a wide range of products for middle and upper classes.

Required: Write a mission statement for the company. (5 marks)

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  • 10 Marks

BMIS – NOV 2019 – L1 – Q3b – Mission Statement Reasons

Explain four reasons for developing a mission statement for Hard Leather Limited, a footwear manufacturing company.

Explain FOUR (4) reasons for developing a mission statement for the company. (10 marks)

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Has Case Study
  • 20 Marks

SCS – Nov 2020 – L3 – Q6 – Strategy implementation

Prepare a business plan extract for GGOH to meet one of ABGL’s recommendations, incorporating 2019 financial performance assumptions.

As a Business Advisor, you have been contracted by the Management of GGOH to prepare a Business Plan to meet one of ABGL’s recommendations. For the purpose of this examination, you are required to prepare an extract based on the following structure:

  • Executive Summary
  • Body of the report
    • Business description
    • Business environment analysis
    • Industry background
    • Competitor analysis
  • Operating plans
    • Marketing Plan
  • Management Summary
  • Financial Plan (You are expected to incorporate new assumptions based on the 2019 actual financial performance). (20 marks)

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  • 8 Marks

BMF – Nov 2019 – L1 – SB – Q2a – Basic Management Functions

Identify and explain the four steps of the initial stage of strategy formulation and implementation.

A corporate objective is a purpose or aim that a company is trying to achieve.
Identify and explain the FOUR steps of the initial stage in an extensive process of strategy formulation and implementation. (8 Marks)

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  • 5 Marks

BMF – May 2024 – L1 – SB – Q3b – Investment Decisions

Explaining the steps in investment appraisal within capital budget and strategic planning.

b. Within the framework of a capital budget and strategic planning, state the FIVE steps of investment appraisal. (5 Marks)

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  • 1 Marks

MI – May 2024 – L1 – SA – Q1 – Forecasting Techniques Analysis, Moving Averages

Tests understanding of the concept of long-term strategic planning.

Which of the following involves setting overall objectives and developing broad plans, mostly over a long-term?

A. Long-term decision
B. Strategic planning
C. Tactical planning
D. Operational planning
E. Short-term decision

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  • 20 Marks

MA – Aug 2022 – L2 – Q1 – Other aspects of performance measurement

This question asks about the Balanced Scorecard concept, its differences from traditional measures, and benchmarking to improve company performance.

Ancient Ltd is a company engaged in the assembling and selling of computers, mobile phones, and their accessories. This company has been the market leader for the last 5 years in this field but is now incurring losses due to decreasing demand and escalating production costs. Currently, the company evaluates its performance using financial measures. The managing director of Ancient Ltd has learned at a recently attended workshop that the concepts of Balanced Scorecard and Benchmarking could be used to improve the performance of organizations. It was also noted that the Balanced Scorecard should be considered at the strategic planning stage in order to set smart objectives.

Required:
a) Explain the concept of the Balanced Scorecard approach to performance measurement.
(2 marks)

b) State TWO (2) differences between the Balanced Scorecard and Traditional Performance measures.
(3 marks)

c) Explain the role of each perspective of the Balanced Scorecard approach at the strategic planning stage. (You are required to give an example of performance measures for each perspective.)
(8 marks)

d) How can the concept of benchmarking be used to improve the performance of Ancient Ltd.?
(3 marks)

e) Explain with an example, how benchmarking could be used to improve performance measures in relation to the customer perspective of Ancient Ltd’s Balanced Scorecard.
(4 marks)

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  • 5 Marks

CSEG – Nov 2015 – L2 – Q4a – Organisational mission and objectives

Outline five common elements included in most mission statements.

A mission statement describes an organization’s basic purpose and what it is trying to achieve. It can play an important role in the strategic planning process. There is no standardized format for mission statements. However, there are common elements included in most mission statements.

Outline any FIVE (5) of these elements. [5marks]

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  • 5 Marks

MA – Nov 2016 – L2 – Q2b – Budgetary control

Identify the benefits of using product life cycle costing in cost management.

Most products go through five stages in their life namely, Development, Introduction, Growth, Maturity, and Decline. These stages have helped in the design of marketing strategies, and it is now believed that it can be equally useful for accountants in the determination of the cost of products.

Required:
Identify FIVE benefits of product life cycle costing. (5 marks)

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