Tag (SQ): Strategic management

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  • 1 Marks

BMIS – L1 – SA – Q5.1 – Introduction to business strategy

business strategy, strategic management, objectives, long-term planning Question Short Summary: Identifies the importance of strategic management.

Which one of the following best describes the reason why strategic management is important?

A   It allows managers to create proper budgets

B   It establishes long term objectives and a framework

C    It focuses on tactical actions

D   It allows the development of policies

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  • 10 Marks

Title: BMIS – L1 – QD5 – Business Strategy

Describe the purpose of the three stages of strategic management.

(a) The strategic management process is sometimes described as having three stages: strategy analysis, strategy formulation, and strategy implementation.

Required:

Describe the nature or purpose of each of these three stages.

(b) Mintzberg argued that the process of strategy analysis, formulation, and implementation does not provide a realistic description of strategic management. He argued that the strategies implemented by an entity are a combination of deliberate and emergent strategies.

Required:

Explain the difference between a deliberate strategy and an emergent strategy. Give an example of an emergent strategy.

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  • 20 Marks

SCS – L3 – Q43 – Strategy, stakeholders and mission

Explain four expectations of leaders in strategic management for organizational transformation.

(a) Transformational leaders have been posited to impact an organization’s culture, structure, and strategy. These types of leaders manifest themselves as change catalysts, who manipulate organizational factors with the aim of improving knowledge cycles.

Required:

Explain FOUR expectations of leaders in strategic management.

 (b) One of the criticisms levelled against the five competitive forces model is that it is static – i.e. it does not focus on the dynamic nature of the business environment. Thus, two other concepts that are proposed to deal with competition dynamics are the concepts of strategic group analysis and the cycle of competition.

Required:

Explain the concept of strategic group analysis and identify THREE examples of common strategic characteristics that define a strategic space.                                                                                                                                                                                                                                                                                                                                                                                                                                                                 (c)

Demand conditions in the home market is one of the four factors in the Porter’s Diamond Model used for analysing the international environment before formulating an international strategy. The home market determines how firms perceive, interpret and respond to buyer needs.

Required:

Explain THREE home conditions that may put pressure on firms to innovate and provide a launch pad for global ambitions.

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  • 20 Marks

SCS – L3 – Q41- Corporate Governance

Compare and contrast unitary and dual board structures in corporate governance.

(a)

Ghanara’s model of corporate governance is based on the UK model, which is a single, or unitary board. The unitary board is made up of a mix of executive and non-executive directors. All directors have the right to participate in board decision making. Other countries operate dual board model (for example, Germany, which has a management board and a supervisory board) or even a three-board model, which operates in Japan. All participants in the single board have legal responsibility for management of the company and strategic performance.

Required:

Compare and contrast unitary board structure and dual board structure.                                                                                                                                                                                                                                                                                                                                                          (b)

The intensity of competition among rival firms within an industry will affect the profitability of the industry as a whole. Within the past decade, the Ghanaian telecommunication industry has witnessed intense competition, taking several forms. You are a strategic management consultant and have been invited as guest lecturer in one private university to discuss the intensity of competition among rival firms in the telecommunication industry.

Required:

Discuss FOUR factors that could be responsible for the intensity of competition among rival firms within the telecommunication industry in Ghana.

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  • 20 Marks

SCS – L3 – Q32 – Strategy implementation

Explain five common weaknesses of Boards of Directors at Zamu Enterprises.

(a) Boards of Directors are expected to manage companies effectively. However, corporate boards sometimes fail to do so. Recent corporate scandals have highlighted key weaknesses of Board of Directors.

Required:

Explain FIVE common weaknesses of Board of Directors.

(b) Zamu Enterprises began as a small company which operated in the financial services sector of Zamora’s economy. Within the last ten years, the Board, which is chaired by the founder, Ms. Amina Zuri, has incrementally expanded into three more sectors of the economy, namely: telecommunications, logistics and real estate. Currently a conglomerate, Zamu Enterprises has four different companies in its portfolio and has its corporate head office located within the capital city, Zambara.
Required:
Explain the different levels of corporate strategy as it relates to Zamu Enterprises.

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

Required:

Identify FOUR effects of technological change on organization.

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  • 20 Marks

SCS – L3 – Q27- Strategy, stakeholders and mission

Identify strategic issues for Zuri Enterprises' board and explain how the balanced scorecard measures performance.

(a)

(i) Identify strategic issues that should engage the attention of the Board of Directors of Zuri Enterprises.

(ii) Explain how the balanced scorecard can be used to measure performance in Zuri Enterprises.

(b) Discuss measures which shareholders may seek to resolve any agency problems in Zuri Enterprises.

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  • 40 Marks

SCS – L3 – Q22- Social and environmental issues in ethics and business

Identify four ways Gusco Perry Ltd's environmental and safety policy impacts its performance.

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

(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.

(ci) Calculate the current return on investment (ROI) and residual income (RI) for each division for the current year.                        (cii) Assess the performance of each division and advise the management of Gusco Perry Ltd (GPL)

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  • 20 Marks

SCS – L3 – Q9- Strategy implementation

Describe four perspectives of the Balanced Scorecard for Printworks Ltd.

Case Study: PrintWorks Incorporated
You are the Management Accountant of PrintWorks Incorporated, a local printing and publishing house located in the regional capital of Kumasi. Your CEO has asked you to brief him further on the balanced scorecard approach.

Required:
(a)(i) In a memo to the CEO, describe FOUR perspectives of a balanced scorecard.

(a)(ii) In a memo to the CEO, explain THREE problems usually associated with the use of this approach for strategic management.

(b) Identify and explain THREE of these inherent characteristics and how they facilitate Management by Objectives (MBO).

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  • 20 Marks

SCS – L3 – Q6- Professional practice and codes of ethics

Outline five personal or professional qualities expected of an accountant in strategic management.

(a) The personal qualities as well as the professional qualities of an accountant can influence his/her role in the strategic management process. Outline FIVE (5) personal or professional qualities expected of an accountant.

(b) Ghana’s corporate governance environment has been influenced by the principles of governance published by the Organisation for Economic Cooperation and Development (OECD). These principles 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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