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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  • 14 Marks

BMIS – Nov 2021 – L1 – Q4a – Introduction to business strategy

Explain the strategic planning process and its importance for organizations.

Strategic Planning Process is important for the strategic management of companies. Organisations from both the private and public sectors are increasingly embracing the practice of strategic planning in anticipation that it will translate into improved performance. It is practised widely, formally and informally.

Required:
Explain the strategic planning process. (14 marks)

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  • 12 Marks

BMIS – May 2020 – L1 – Q3a – Introduction to business strategy

Explain deliberate, emergent, and incremental strategies in organizations.

Strategies in organizations develop in different ways, and one way of explaining strategies is to make a distinction between deliberate strategy, emergent strategy, and incremental strategy.

Required:
Explain each of the strategies outlined above. (12 marks)

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  • 20 Marks

BMIS – May 2019 – L1 – Q2 – Introduction to business strategy

Explain the need for planning before embarking on a business venture and the advantages of a formal system of strategic planning.

TestCo Company Ltd (TCL) introduced a product, YZ Sap, into the North East Region market and the patronage was very encouraging. In a conversation with a friend, the Managing Director of TCL, Asembibeba, made a strong case for taking risks without necessarily planning for the outcome. In his opinion, introducing YZ Sap into the North East Region without a formal planning process and its positive outcome suggests that planning is not necessary when entering a new untapped market.

Required:

a) Write a note to Asembibeba explaining clearly FIVE (5) reasons why there is the need for planning before embarking on a business venture. (10 marks)

b) Write a second note to Asembibeba explaining FIVE (5) advantages of a formal system of strategic planning when embarking on a business venture. (10 marks)

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  • 20 Marks

BMIS – May 2019 – L1 – Q1 – Business and organisational structure

Outline the characteristics of organisations, the public sector, strategic plans, and management information systems.

Outline FIVE (5) characteristics each of the following:
a) Organisation
b) Public Sector
c) Strategic Plans
d) Management Information Systems

(20 marks)

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  • 20 Marks

BMIS – Nov 2016 – L1 – Q3 – Introduction to business strategy

Discuss reasons for and against investing in the strategic planning process in a multinational company.

At a recent board meeting of a multinational company, there was a heated debate on whether the company should continue to invest resources in strategic planning processes. A section of the board members believed that it is worth investing, whilst the other section opposed that decision because they considered such an activity as a waste of resources.

Your task is to state:

a) FIVE reasons why you think the company must continue to invest in the strategic planning process. (10 marks)

b) FIVE reasons why it might not be necessary for the company to invest in the strategic planning process. (10 marks)

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  • 10 Marks

BMIS – March 2024 – L1 – Q2a – Introduction to business strategy

Explain five benefits of developing vision and mission statements for world-class organizations.

World class organisations invest financial and non-financial resources in developing vision and mission statements because they believe that such investment will yield numerous benefits.

Required: Explain FIVE (5) of such benefits. (10 marks)

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  • 10 Marks

BMIS – Jul 2023 – L1 – Q2c – Introduction to business strategy

Describes the three categories of a company’s plans: strategic, business, and operational.

The management of National Gas Ltd categorizes its plans into three, namely strategic, business, and operational. The categorization is done to enhance the operational efficiency of the company.

Required:
Describe the three categories of the company’s plans.

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  • 5 Marks

BMIS – Nov 2017 – L1 – Q1c – Introduction to business strategy

Distinguish between a strategic plan and an operational plan in an organization.

c) Good links between operational and strategic planning help in the execution of corporate strategies. However, managers gain from knowing the difference between strategic and operational objectives because this distinction plays a major role in the conversion of an overarching vision into specific tasks.

Required:
Distinguish between a strategic plan and an operational plan.
(5 marks)

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  • 10 Marks

BMIS – Mar 2023 – L1 – Q5b – The external environment

Conducts a PEST analysis for Prekoka Beverages Ltd based on provided business challenges and opportunities.

Prekoka Beverages Ltd (PBL) was established in 2022. The company manufactures alcoholic and non-alcoholic beverages. The company uses a modern automation system and a lean manufacturing system to ensure operational efficiency. The company is very optimistic about the future due to the increase in disposable income of the people in the country.

The management of the company is, however, concerned about the government’s proposal to increase regulations in the manufacturing of alcoholic beverages because of a research publication that alcoholic beverage consumption is causing health problems for consumers in the country.

The company also faces a challenge predicting its future revenue because the section of the population with purchasing power is conscious of their consumption patterns and, as a result, are reluctant to purchase sugar-based beverages. Additionally, the recent population census in Ghana indicated that the female population (which normally doesn’t consume alcoholic beverages) surpasses the male population.

Even though the management of PBL is confronted with the above challenges, they are optimistic about the future because there is strong economic and political stability that facilitates business growth in the country. PBL also has an efficient research and development team that can develop new products to meet the changing needs and tastes of consumers.

Required:
Prepare a PEST framework for PBL based on the above information.

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  • 10 Marks

BMIS – Mar 2023 – L1 – Q2b – Introduction to business strategy

Explains the three levels of planning within an organization: strategic, tactical, and operational.

Strategic plans set a framework and guidelines within which more detailed plans and shorter-term planning decisions can be made.

Required:
Explain THREE (3) levels of planning within an organisation.

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