Subject: CORPORATE STRATEGY, ETHICS & GOVERNANCE

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  • 25 Marks

CSME – Nov 2018 – L2 – Q1a – Environmental Analysis

Perform a SWOT analysis using a Mini Resource Audit and Porter's Five Forces for Igbadun Nigeria Limited in the online streaming business.

Igbadun Nigeria Limited is a private limited liability company engaged in the business of online content streaming to registered subscribers through a dedicated website “igbadun.com”. The company’s content offerings include movies, TV episodes, cartoon series, educational series, documentaries, and reality shows.

The subscriber base growth rate of Igbadun has been phenomenal, jumping from about 3,000 in 2013 to 30,000 at the end of 2017. This is despite the fact that the industry is relatively new in Nigeria. The growth has led to an increase in revenue from N72 million in 2013 to N450 million by the year ended 31 December 2017. However, the only source of revenue to the company is customer subscriptions.

The impressive performance of Igbadun Nigeria Limited has been attributed to several factors, including:

  • Increasing internet usage;
  • Increased patronage of streamed online programs;
  • Improved access to the internet at a reduced cost;
  • Affordability of internet-enabled devices suitable for viewing online video content;
  • Cost reduction strategies and a very affordable subscription rate, which has been reduced from N2,000 in 2013 to N1,500 in 2017. This is the second-lowest rate in the industry;
  • Aggressive marketing strategy and investment in advertising;
  • Reduction in marketing costs as a percentage of revenue from 16% in 2013 to 12.8% in 2017;
  • Growth of gross subscribers by more than 100% per annum;
  • Investment of over 60% of its earnings for growth and development, especially in purchasing the best hardware and software available;
  • Aggressive R & D policy that has led to in-house development of most of its software, with all of them duly patented;
  • Effective Human Resource Management strategy that has helped to attract, motivate, train, and retain highly qualified and experienced manpower;
  • Management team of highly experienced personnel.

A report recently released by Arthur Baker and Company, a reputable consulting firm in Nigeria, predicted that the demand for online program streaming in Nigeria will grow significantly to 5 million by 2020. Consequently, existing rivals, such as Netcom and other smaller competitors, are jostling to gain competitive advantage. The relatively liberal legal requirements for entry have also facilitated an influx of new entrants into the industry. Netflox, the world’s biggest provider of online program streaming service, recently commenced operations in Nigeria.

Copyright activists recently proposed a bill to the National Assembly, allowing online program streaming providers to stream new releases only after two months of release. This bill will adversely affect the subscription revenue of igbadun.com if passed into law.

A major part of Igbadun’s subscription revenue is received through online payments using debit cards. However, a recent report by an independent consultant shows a decline in the use of online payment platforms due to increased security concerns. This has the potential to hurt Igbadun’s revenue stream.

Igbadun is also struggling to compete with other movie entertainment media such as cable TV, DVDs, and cinemas. The most worrisome for the company has been DVDs. The activities of pirates have made the price of DVDs for new releases as low as N500 each. If this continues unabated, the company risks losing its subscriber base.

Despite these challenges, Igbadun plans to grow its subscriber base to 200,000 by the end of 2020.

Required:

a. With the aid of a Mini Resource Audit and Porter’s Five Forces Model, prepare a SWOT analysis for the management of Igbadun Nigeria Limited.

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  • 10 Marks

CSME – Mar/Jul 2020 – L2 – Q4 – Chairman’s Responsibilities and Board Diversity

Discuss responsibilities of the Chairman under Nigerian Code of Corporate Governance

a. Discuss the responsibilities of the Chairman as provided by the Nigerian Code of Corporate Governance. (10 Marks)

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  • 15 Marks

CSEG – Nov 2015 – L2 – Q6b – Corporate governance framework

Explain five principles of corporate governance based on the OECD guidelines adopted by Ghana.

Ghana has adopted the principles published by the organization for Economic Co-operation and Development (OECD) which deal mainly with performance problems that result from the separation of ownership and management of a company. Explain FIVE (5) principles of corporate governance.

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  • 5 Marks

CSEG – Nov 2015 – L2 – Q6a – Business ethics

Outline three personal qualities and two professional qualities expected of an accountant.

The personal qualities as well as the professional qualities of an accountant can influence his/her role in the strategic management process. Outline three personal qualities and two professional qualities expected of an accountant. [5marks]

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  • 8 Marks

CSEG – Nov 2015 – L2 – Q5c – Corporate social responsibility

Define sustainability and explain the concept of the triple bottom line with relevant examples.

What is meant by sustainability? Using relevant examples, explain the concept of the triple bottom line.

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  • 8 Marks

CSEG – Nov 2015 – L2 – Q5B – Marketing, operations and HR perspectives

Explain four different orientations organizations have towards customers.

Explain the FOUR (4) different orientations organisations have towards customers

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  • 4 Marks

CSEG – Nov 2015 – L2 – Q5a – Management perspective

Explain how the production function can be integrated with other functions in a company.

Strategic management is a cross-functional activity. The production function for example, has relationship with other functions of a company. Explain how the production function can be integrated with other functions in company. [4marks]

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  • 10 Marks

CSEG – Nov 2015 – L2 – Q4c – Corporate governance framework

Explain five issues typically contained in corporate governance reports.

Reporting on corporate governance is one way of ensuring transparency. Based on recent corporate governance concerns, explain FIVE (5) issues that are contained in corporate governance reports. [10marks]

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  • 5 Marks

CSEG – Nov 2015 – L2 – Q4b – Strategy evaluation and control

Identify and explain five elements of the Ms Model used in resource audits for strategy evaluation and control.

Strategy evaluation is as important as strategy formulation. One of the tools used in resource audit as part of strategy evaluation and control is the Ms Model. Identify and explain any FIVE (5) elements in the Ms Model. [5marks]

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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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  • 6 Marks

CSEG – May 2017 – L2 – Q3b – Business ethics

Explain four safeguards to address actual and threatened litigation in the accounting profession.

Professional accountants face many threats in the performance of their duties that may negatively affect accountants’ objectivity and independence. One of such threats is intimidation threat which may arise from close business relationships, family and personal relationships, and assurance staff members moving to employment with clients as well as actual and threatened litigation.

Required:

Explain FOUR safeguards you will consider to deal with actual and threatened litigation as a professional accountant. (6 marks)

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  • 10 Marks

CSEG – May 2017 – L2 – Q3a – Strategic alternatives, analysis and selection

Discuss the impact of strategic alliances on companies and how they contribute to competitive advantage.

Strategic alliances have become an important part of the corporate world, with companies joining forces for various strategic reasons. A well-formed alliance can provide a competitive advantage to the companies involved.

Required:

a) Explain FIVE ways in which strategic alliances can impact companies.

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  • 20 Marks

CSEG – May 2017 – L2 – Q2 – Corporate Governance framework

Analyze the corporate governance practices in Aster Ltd, focusing on board composition, roles, and challenges faced by the company.

Aster Ltd is a manufacturing company listed on the Ghana Stock Exchange (GSE). The company has seven directors on its board, with four being non-executive directors, including the chairman, who is a non-executive director. The company has faced some challenges over the past two years, including issues related to governance, transparency, and accountability.

The company’s board meets regularly to discuss the company’s performance and to make strategic decisions. However, there have been complaints from some shareholders about the lack of transparency in the board’s decisions and the dominance of the executive directors in board meetings.

Required:

a) Explain FOUR ways in which the board of Aster Ltd can improve its corporate governance practices. (8 marks)

b) Discuss THREE challenges that Aster Ltd may face in implementing good corporate governance practices. (6 marks)

c) Identify and explain TWO roles of non-executive directors in promoting good corporate governance in Aster Ltd. (6 marks)

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  • 40 Marks

CSEG – May 2017 – L2 – Q1a – Strategic alternatives, analysis and selection

Analyze Gussie Perry Ltd's environmental policies, mission statement relevance, division performance, and market position using ROI, RI, and Porter's Five Forces.

CASE STUDY: GUSSIE PERRY LTD

Introduction:
Gussie Perry Ltd (GPL) is a long-established divisionalized company with its origins in shipping. The company has been in existence for nearly 120 years and has developed a reputation for reliability and quality service.

The shipping activities in which Gussie Perry Ltd (GPL) is engaged comprise four divisions – cruise, ferry, container, and bulk shipping. The cruise division is engaged entirely in the carriage of passengers, while the ferry division carries passengers and vehicles. The vehicles carried by the ferries range from motor cars to articulated trucks and buses. The container and bulk shipping divisions are engaged in the carriage of freight only.

Organizational Goals:
The company has stated over recent years that it aims to:

  1. Increase its international business to achieve long-term profitability.
  2. Provide the necessary capital investment to support its international operations.
  3. Train and develop the company’s employees.

Environmental and Safety Policy:
Environmental protection is now a key aspect of corporate social responsibility. Pressure on Gussie Perry Ltd (GPL) for better environmental performance is coming from many quarters. The company recently implemented an environmental and safety policy, which is monitored through an audit system, in an effort to ensure that its policies are being executed. It is the aim of the company to have operational standards that match the best industry standards. Training of management, staff, and specialist auditors is seen as a priority within the organization’s environmental and safety policy. This has become a major concern for the company because of customer anxiety about the safety of the ferries.

Financial Results:
In the last financial year, earnings per share were GH¢2.12, producing a dividend cover of 1.15 times. The dividend per share paid by Gussie Perry Ltd (GPL) has remained at the same level for five years. Comparative values for divisional revenue and operating profit are shown in Table 1.

Table 1: Divisional Financial Data

Division Cruise Ferry Container Bulk Shipping
Current year’s revenue (GH¢’000) 5,136 4,002 7,572 750
Previous year’s revenue (GH¢’000) 4,410 3,756 6,306 672
Current year’s operating profit (GH¢’000) 780 650 252 (30)
Previous year’s operating profit (GH¢’000) 528 480 240 (18)
Assets/Capital Employed (GH¢’000) 2,800 2,500 3,200 3,800

During the year, general inflationary levels in the shipping industry were 14% per annum. The company’s cost of capital is 25%.

Extract from the Chairman’s Statement for the Financial Year:
In his statement, Mr. Aaron Yeboah, the Chairman of Gussie Perry Ltd (GPL), commenting on revenue and profit before the inflation adjustment, said the company achieved encouraging results, particularly in the cruise division. The company had taken delivery of a new cruise liner, at a cost of GH¢1,200,000, and has two more on order. Aaron believed that this was an expanding market and considered the company to be in a good position to take advantage of the opportunity. With regard to the ferry division, Aaron expected continued growth, although there was an expectation of potential new entrants due to increased cargo volumes. This contrasted with his view of the declining performance of the container and bulk shipping divisions as shown in Table 1.

Market Information:
Gussie Perry Ltd (GPL) commissioned market research into its cruise and ferry operations. The results of this research indicated that, in recent years, within the cruise liner industry, there has been a change in customer appeal. Traditionally, the main customer base had comprised traders. In the last five years, the cruise division has experienced an increase in its clientele, especially holidaymakers. This stemmed from the promotion of domestic tourism.

Furthermore, the research showed a 15% increase in marine transport, but Gussie Perry Ltd’s market share actually reduced by 4%. The report indicates that the probability of the cruise market continuing to grow was bright. However, there were uncertainties about the future potential of the container and bulk shipping divisions.

Required:

a) Identify FOUR ways in which GPL’s concern for environmental and safety policy can impact on its performance. (4 marks)

b) The Chairman of the company has recently attended a short course on strategic planning. He was particularly interested in the relevance of mission statements to the strategic management process. Explain in FOUR ways how a mission statement is relevant in strategic management. (8 marks)

c) i) Calculate the current return on investment (ROI) and residual income (RI) for each division for the current year. (4 marks)
ii) Assess the performance of each division and advise the management of Gussie Perry Ltd (GPL). (8 marks)

d) With reference to Porter’s Five Competitive Forces model, assess the nature of the cruise and ferry shipping market in which Gussie Perry Ltd (GPL) is engaged. (16 marks)

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  • 10 Marks

CSEG – Nov 2017 – L2 – Q6b – Strategic management in the globalized workplace

Advise on the most suitable foreign market entry strategies for Wuudin’s new business lines.

Asamoah Wuudin is a Ghanaian private company owned mainly by the Wuudin family. Most of its clothing and accessories are produced and marketed by the company (some are manufactured by outside contractors). For other products, notably fragrances, cosmetics, and eyewear, Wuudin licenses its brand names to other companies. The Board of Directors of Wuudin is considering expanding into new foreign markets with athletic clothing, hotels, and bridal shops.

Required:

Advise Wuudin on the most suitable foreign market entry strategy for each of the new lines of business. (10 marks)

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  • 10 Marks

CSEG – Nov 2017 – L2 – Q6a – Strategy evaluation and control

Explain the concept of benchmarking and identify the advantages that companies gain from benchmarking.

In the business world, companies use benchmarking as a point of reference. Benchmarking occurs across all types of companies and industries. Many companies have positions or offices that are in charge of benchmarking.

Required:

i) Explain the term benchmarking. (2 marks)

ii) Explain FOUR advantages companies gain from benchmarking. (8 marks)

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  • 5 Marks

CSEG – Nov 2017 – L2 – Q5b – Strategic alternatives, analysis and selection

Identify and explain five competitive advantages associated with being a first mover in product innovation.

Innovation can be a major source of competitive advantage for business firms, even though it comes with a burden of cost and uncertainty. Management would have to decide whether it would be a leader or follower in the industry regarding innovation.

Required:

State FIVE competitive advantages associated with being a first mover in product innovation in an industry. (5 marks)

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  • 15 Marks

CSEG – Nov 2017 – L2 – Q5a – Strategy evaluation and control

Explain the limitations of financial measures for evaluating performance and describe financial and non-financial measures that can be used.

During the past year, the management of Doncat Limited faced many challenges, including several customer complaints, loss of some key customers, and a high level of employee turnover. At a meeting of the Board of Directors, the Chief Executive Officer presented a report on the financial performance of the company during the period and, in his closing remarks, he said, “Overall, we have done very well, notwithstanding the challenges we faced.” Some members of the Board were not happy with these remarks and accused him of doing a “partial evaluation” of the company.

Required:

i) Explain FOUR limitations of the use of financial measures for evaluating the performance of the company. (6 marks)

ii) Describe THREE financial measures and THREE non-financial measures that Doncat Limited may use to evaluate its performance. (9 marks)

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  • 4 Marks

CSEG – Nov 2017 – L2 – Q4c – Analysing the external environment

Identify and explain four effects of technological change on organizations.

Technology is one of the most powerful forces within the external business environment that has significantly changed how business is conducted, especially within the 21st Century. For instance, information technology (IT), when well exploited, can have a significant impact on all five forces of competition.

Required:

Identify FOUR effects of technological change on organizations. (4 marks)

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  • 6 Marks

CSEG – Nov 2017 – L2 – Q4b -Strategic management in the globalized workplace

Explain the different levels of corporate strategy as it relates to Awilo Holdings.

Awilo Holdings began as a small company that operated in the financial services sector of Ghana’s economy. Within the last ten years, the Board, which is chaired by the founder, Ms. Abigail Kyerewaa, has incrementally expanded into three more sectors of the economy, namely: telecommunications, logistics, and real estate. Currently a conglomerate, Awilo Holdings has four different companies in its portfolio and has its corporate head office located within the capital city, Accra.

Required:

Explain the different levels of corporate strategy as it relates to Awilo Holdings.

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