Strategic Planning – Page 4

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

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

Question

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.

Answer

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Tags: Capital Budgeting, Decision Making, Financial management, Investment Appraisal, Strategic Planning
Level: Level 3

Topic: Investment Decisions
Series: Nov 2024

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.

Question

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.

Answer

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Tags: Business Strategy, Rational Planning, Shareholder Wealth, Short-term, Strategic Planning
Level: Level 1

Topic: Employment law
Series: Nov 2024

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

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

Question

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)

Answer

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Tags: Corporate Image, Corporate Strategy, Mission Statement, Stakeholders, Strategic Planning
Level: Level 2

Topic: Strategic Planning Process

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.

Question

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)

Answer

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Tags: Business Plan, Franchise, Product Life Cycle, Stakeholders, Strategic Planning, Viability
Level: Level 2

Topic: Strategic Planning Process
Series: MAY 2017

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

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

Question

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:

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

Answer

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Tags: Ansoff Matrix, Competitive Advantage, Integration Strategy, Market Growth, PESTEL Analysis, Strategic Planning, Sustainable Development
Level: Level 2

Topic: Strategic Implementation
Series: MAY 2023

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

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

Question

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.

Answer

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Tags: Corporate Image, E-commerce, Internet Security, IT infrastructure, Strategic Planning
Level: Level 2

Topic: Strategic Management Accounting
Series: NOV 2015

CSME – Nov 2016 – L2 – Q1 – Environmental Analysis

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

Question

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)

Answer

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Tags: Business Environment, PESTEL, Risk Audit, Risk Management, Strategic Planning
Level: Level 2

Topic: Environment analysis
Series: NOV 2016

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

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

Question

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

Answer

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Tags: Business Strategy, Organizational Growth, Strategic Planning
Level: Level 2

Topic: Strategic Planning Process
Series: NOV 2019

CSME – Nov 2020 – L2 – Q1b – Corporate Governance

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

Question

Clarify the nature and objectives of a mission statement.

Answer

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Tags: Mission Statement, Objectives, Strategic Planning
Level: Level 2

Topic: Corporate Governance
Series: NOV 2020

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

Primary objective of strategic planning in business.

Question

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

Answer

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Tags: Business Strategy, Competitive Advantage, Management objectives, Strategic Planning
Level: Level 1

Topic: Basic Management Functions
Series: MAY 2015

BMIS – May 2017 – L1 – Q5b – Introduction to business strategy

Explain key concepts related to strategic planning, including strategy, policies, procedures, budgets, and rules.

Question

Question:

Strategic planning has been defined as the process of setting objectives for the organisation and laying down the policies which are to govern the acquisition, usage, and disposal of the resources used to achieve those objectives.

Required: Explain the following:

i) Strategy
ii) Policies
iii) Procedures
iv) Budget
v) Rules
(10 marks)

Answer

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Tags: Budgeting, Policies, Procedures, Rules, Strategic Planning, Strategy
Level: Level 1

Topic: Introduction to Business Strategy
Series: MAY 2017

BMIS – Nov 2015 – L1 – Q1 – The external environment, Introduction to business strategy

Discuss environmental scanning and strategic planning, and outline the strategic planning process.

Question

Before an organisation can begin strategy formulation, there is the need to scan the external environment to identify possible opportunities and threats and its internal environment for strengths and weaknesses.

Explain the following:
a) Environmental scanning. (3 marks)
b) Strategic planning. (3 marks)
c) Outline the strategic planning process. (14 marks)

Answer

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Tags: Business Strategy, Environmental Scanning, Strategic Planning, Strategic Process
Level: Level 1

Topic: Introduction to Business Strategy, The external environment
Series: NOV 2015

BMIS – April 2022 – L1 – Q5a – Competitive advantage and strategic direction

Explain the concept of the BCG Matrix and its importance in assessing product lines.

Question

Bonus Oil Plantation is a listed company on the Ghana Stock Exchange. For a company with a large portfolio, it is important to assess its product lines regularly to see which products are profitable, which ones are making losses, and which ones need improvement. This practice will help the company to allocate its resources accordingly in order to function more efficiently.

While there are many practices and tools available to accomplish this mission, the CEO has suggested to the Board the BCG Matrix developed by the Boston Consulting Group as a standard.

Required:
At the CEO’s request, explain the concept of the BCG Matrix. (10 marks)

Answer

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Tags: BCG Matrix, Product Portfolio, Resource Allocation, Strategic Planning
Level: Level 1

Topic: Competitive advantage and strategic direction
Series: APR 2022

BMIS – May 2021 – L1 – Q4c – Introduction to business strategy

Explain the concept of SWOT analysis and the elements within it to manager trainees.

Question

ou have been asked as the Strategic Business Planner of your company to speak to a group of recently recruited manager trainees, most of whom are not business management graduates, on strategy formulation and implementation.

Required:
i) Explain the concept of SWOT analysis to the recently recruited manager trainees. (2 marks)
ii) Explain the elements in the SWOT analysis to the manager trainees. (8 marks)

Answer

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Tags: External Environment, Internal Resources, Strategic Planning, SWOT Analysis
Level: Level 1

Topic: Introduction to Business Strategy
Series: MAY 2021

Question Tag: Strategic Planning

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

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

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.

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

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

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.

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

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

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

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

CSME – Nov 2016 – L2 – Q1 – Environmental Analysis

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

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

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

CSME – Nov 2020 – L2 – Q1b – Corporate Governance

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

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

Primary objective of strategic planning in business.

BMIS – May 2017 – L1 – Q5b – Introduction to business strategy

Explain key concepts related to strategic planning, including strategy, policies, procedures, budgets, and rules.

BMIS – Nov 2015 – L1 – Q1 – The external environment, Introduction to business strategy

Discuss environmental scanning and strategic planning, and outline the strategic planning process.

BMIS – April 2022 – L1 – Q5a – Competitive advantage and strategic direction

Explain the concept of the BCG Matrix and its importance in assessing product lines.

BMIS – May 2021 – L1 – Q4c – Introduction to business strategy

Explain the concept of SWOT analysis and the elements within it to manager trainees.

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Question Tag: Strategic Planning

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

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

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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.

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

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

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

You're reporting an error for "MGE – Nov 2014 – L2 – Q2 – Strategic Planning Process"

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.

You're reporting an error for "CSME – May 2017 – L2 – SA – Q1 – Strategic Planning Process"

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

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

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

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

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CSME – Nov 2016 – L2 – Q1 – Environmental Analysis

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

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

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

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CSME – Nov 2020 – L2 – Q1b – Corporate Governance

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

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

Primary objective of strategic planning in business.

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BMIS – May 2017 – L1 – Q5b – Introduction to business strategy

Explain key concepts related to strategic planning, including strategy, policies, procedures, budgets, and rules.

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BMIS – Nov 2015 – L1 – Q1 – The external environment, Introduction to business strategy

Discuss environmental scanning and strategic planning, and outline the strategic planning process.

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BMIS – April 2022 – L1 – Q5a – Competitive advantage and strategic direction

Explain the concept of the BCG Matrix and its importance in assessing product lines.

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BMIS – May 2021 – L1 – Q4c – Introduction to business strategy

Explain the concept of SWOT analysis and the elements within it to manager trainees.

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