Thank you. Summary. Just like our exams, we regularly update the module so it contains all the latest ethical, professional and digital skills needed by finance professionals today. kwik trip leadership team condos for rent in, ! The area of strategic implementation covers many areas from project management to structure. Part (c) requires you to apply the financial skills you have learned throughout your ACCA studies to give an overview of how viable Jeromes plans are. Log in, Viewing 14 posts - 1 through 14 (of 14 total), Ethics and Professional Module-Unit 8.8: Analysing the strategic options, https://opentuition.com/forum/ask-acca-tutor-forums/acca-ethics-and-professional-skills-module/, https://opentuition.com/topic/ethics-and-professional-skills-module-4/, https://opentuition.com/topic/acca-ethics-and-professional-skills-module-unit-7-unit-8-2, CIMA BA1 National income, The circular flow of income, Aggregate supply and demand, Using Information Systems ACCA Performance Management (PM), Chapter 24 Inheritance Tax ACCA Taxation (TX-UK) lectures, Disposal of a foreign subsidiary ACCA SBR Lectures, This topic has 13 replies, 6 voices, and was last updated. Before approaching the bank Jerome discussed this issue with his accountant and offered the following ideas for his proposed expansion. So to have technical knowledge, skills and abilities - combined with professional skills and qualities - will be much more in demand by employers. https://i.postimg.cc/YCd9YhtC/Analying-the-6-strategic-options-Screen-5.png A criticism of the stores when Jeromes father was in charge was that they were often short of stock. As you work through the module, youll be asked to complete different tasks which you would expect to see in a real-world work scenario. Jerome assumed that he might use the freeholds of the properties Sportak owned as securities for the finance the company needed to borrow. The final problem that must be overcome is to decide how the chosen strategic option should be undertaken. Product development ), Organisational structure (centralisation, decentralisation, specific structural form), Management of change (unfreeze, change, refreeze), strategic analysis (think 6Ms, think PESTEL and five forces and stakeholder constraints), strategic choice (on what basis do we decide to compete? No, however EPSM will support your learning for Strategic Professional exams so we would still recommend that you take the EPSM if you have any of these exams yet to complete. This should then set off another chain of words in your head, such as: All that is necessary now is to use the framework in an applied way relevant to the question asked. In anticipating this proposed expansion and the need to manage an enlarged group, Jerome believes that it is time for a strong and centralising leader. The following questions need to be addressed about the strategic options: Feasibility Under Jeromes plan it is proposed to allocate a substantial budget 15% of sales to spend on press advertising and on public relations, and this level of commitment will continue for the foreseeable future. Jerome was impatient with the lack of growth. The decentralised approach adopted by his father has not brought about the development of a well-known image and, therefore, the brand of Sportak needs to be strengthened. By producing at the lowest possible cost, the manufacturer can compete on price with every other producer in the industry and earn the highest unit profits. (Ansoffs product market matrix, do nothing, withdraw. As a result of the changing business landscape globally, employers are looking for finance professionals to add value immediately. DEPARTMENT FUNCTIONS WHICH HAS HELPED SAVE COSTS. Store modernisation programmes for all the shops, as well as upgrading stock with a wider and more sophisticated range of products, will also require funding. Unit 8 Strategic Options Presentation PDF. This involves development of the product and market but still remaining within the broad confines of the industry. (a) Jerome Gulsands father was a great believer in the decentralisation of both operations and decision making. ACCA EPSM Peer Assesment. Common sense would tell you that the business plan should include an overview of Sportaks business. It doesn't appear in any feeds, and anyone with a direct link to it will see a message like this one. This means there may have been new units added to the module since you completed it and received your completion certificate. Unit 8: Integrated Case Study Topic 8: Strategic Planning, Hi Rupesh, i am stuck at this step- the answer to the 6 strategic options, would you be so kind to share with me your findingsstrugling to undertsand what the qs are asking of memany thanks. It helps focus your thinking on real world work scenarios, developing your understanding and skills on how to approach the challenges presented. How are we going to achieve the chosen direction? . Concentrate on productivity objectives and constantly seek to improve efficiency and economy for example, value chain analysis. The proposal is to start producing booms or jibs for large crane manufacturers. The final issue to address is whether the selected strategy will meet the expectations of the key stakeholders in the firm and typical issues to be looked at would include the level of risk and return resulting from the option. https://i.postimg.cc/RFkqhy41/Analying-the-6-strategic-options-Screen-1.png These methods of operation were satisfactory while the company was operating in a steady growth environment. Jerome recognised that during this period of change Sportak might lose a number of its key shop managers. You will also receive feedback on your presentation. By being grounded in real business examples and covering the full range of advanced ethical and professional skills, the Ethics and . A development into activities concerned with a companys outputs also called downstream integration for example, move down the supply chain into distribution activities. Stuck at unit 8 strategic options questions. . Uploaded by Piotrek Potrzuski. Differentiation focus: Select a particular niche and concentrate on competing in that niche on the basis of differentiation for example, luxury goods. We track these errors automatically, but if the problem persists feel free to contact us. Part (d) specifically deals with the how? part of the strategic choice stage. Correlation ID: e096d2c1-ecdc-413b-9b3f-19b96520d559. The translated cost of these imported materials from CETA in the current P/L account is $M1,100,000. Course Hero is not sponsored or endorsed by any college or university. A clear description of the basis on which Sportak intended to compete should also be included (use Porters generic strategies and Ansoffs product market matrix for inspiration) together with the likely returns the business is to make from the chosen strategy. Presentation on Strategic options discussed by the sub-committee formed under Head of Accounting, Jamie Roberts. He wanted a more hands-on approach. A firm differentiates itself from its competitors when it provides something unique that is valuable to buyers. The system will then randomly allocate you five presentations that have been completed by other students. Forward. Positive reinforcement (praise, reward, etc) or negative reinforcement (sanctions applied to those who deviate from the new behaviour) may be used. whats app +923170004562 for any helpEPSM ans. EPSM: Unit 8 Peer Assessment Presentation We are asked to identify and explain some strategic options to turn around the financial performance of a given company. Sell out/withdraw from the market Often undertaken to maintain the present equilibrium within the company as it is much less disruptive than an acquisition. focus. Unit 8: Integrated Case Study Topic 8: Strategic Planning - ACCA Learning Community Learning Channels Select New BT FA MA LW TX FR PM FM AA EPSM SBL SBR AFM APM ATX AAA Recent Posts Trending Posts Unit 8: Integrated Case Study Topic 8: Strategic Planning +1 Vote Analysing the 6 strategies: xf Does it build on identified strengths and exploit opportunities? The scope, speed and style of the changes need to be carefully reviewed in order to obtain full commitment to them. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. By accepting all cookies, you agree to our use of cookies to deliver and maintain our services and site, improve the quality of Reddit, personalize Reddit content and advertising, and measure the effectiveness of advertising. OUR LIQUIDITY POSITION DOES NOT DETORIATE. I'm struggling with this section. A useful framework to apply when considering the appropriateness of an option is: Suitability How are we going to achieve the chosen direction? Press question mark to learn the rest of the keyboard shortcuts. Cost focus: This involves selecting a particular niche in the market and focusing on providing products for that niche. This strategy maintains the security of the present product while enabling extra revenue to be generated from new segments for example, McDonalds and its geographic market development. Management of change By nature, he was an entrepreneur who sought growth. (Use the internal, external or joint venture model for inspiration). The same peer review process is then repeated with another virtual peer assessment group. The answers to these two choices leave the organisation faced with three generic strategies, which are defined as: 1. 1. Sports personalities will be paid to appear in all stores, which will have to be re-equipped. Change Movement into activities that are competitive with existing activities for example, to benefit access to market or technology. March 15th 2021 AN ACCA USER Login to answer 0 Votes Stuck at unit 8 strategic options questions The following 6 options have been identified by the Strategy Development sub-committee MEXIT, Telford Engineering March 15th 2021 AN ACCA USER Login to answer Drop your whatsapp number March 23rd 2021 AN ACCA USER Login to comment Is it industry-wide or is it restricted to a specific niche? Backward. Most customers were unwilling to wait for the product to be ordered and they therefore bought from competitors shops. Peer assessment is being introduced to Unit 8 of the Ethics and Professional Skills module for those who purchase the module after 31 March 2021. A development into the business that inputs into the present business for example, move up the supply chain into raw material inputs. Press J to jump to the feed. We therefore recommend you complete the module towards the end of completing your Applied Skills exams and before attempting any Strategic Professional exams. You don't have to be able to reproduce the multiple linear regression analysis in the end of unit assessment (because it's provided) but you do need to READ the comments that interpret the output table (e.g the "coefficients" calculated provide the regression formula: Y = a + bX1 + cX2 + dX3 etc) A focus strategy is based on fragmenting the market and focusing on a particular market niche. Find out more about what this means and how peer assessment will support your learning. Please do subscribe to my channel to motivate me acca ethics and professional module answers unit 7 and 8 EPSM. Premium Powerups Explore Gaming. Question 1 Diversification SWOT analysis is a planning methodology that helps organizations build a strategic plan to meet goals, improve operations and keep the business . The process should not take longer than three days and will often be completed in a much shorter time period. The principal of peer assessment is that students review and objectively assess the work of other students and also have their own work reviewed and assessed using consistent criteria and associated grade descriptors. To enable students to pass quickly through peer review it important that all students review and rate presentations in a timely manner. This option is to construct steel reinforcement frames for factory construction in countries vulnerable to earthquakes. If you have not been successful you will be provided with feedback and invited to resubmit your presentation. THIS IS ESSENTIAL FOLLOWING MEXIT AS WE NEED TO HAVE FREE, CASHFLOWS FOR US TO MEET OUR SHORT-TERM OBLIGATION AND. Anybody got youtube links they used help . This involves movement into industries that bear little relationship to the present one and is often the result of a profit motive. It had been suggested to him that the franchising of the Sportak brand name would be a reasonable and relatively risk-free method of expansion. The purchasing team have identified an alternative domestic supplier source for all of the imported materials from CETA, who will charge Telford Engineering the same amount as it originally cost the company to import these materials at the pre-MEXIT exchange rate. Jerome Gulsand is the owner and chief executive of a chain of 20 sports equipment shops, Sportak. I am struggling with Telford Engineering questions, i can get Q3 and Q4any help with the rest will be much appreciated. It is totally upto you how much or less detail you wanna give. Recognising that the current system of product ordering is delegated to individual store managers, he proposes to provide a centralised purchasing function based upon a warehouse owned and controlled by Sportak. Yes Please. The company was founded by Jeromes father a quarter of a century earlier when he opened his first small shop. WE HAVE ALREADY OUTSOURCED MUCH OF THE ACCOUNTING. Focus The following 6 options have been identified by the Strategy Development sub-committee. Please visit our global website instead. Any luck? This post has been reported and hidden 58 student(s) online now Back to Posts ACCA Ethics Module - Unit 8 Create an account to follow your favorite communities and start taking part in conversations. More detailed information should be provided on the organisations resources (6Ms), together with an overview of the business environment in which it exists (use PESTEL and five forces for inspiration). Skilled employees are reported to be capable in reducing internal costs hence, THE COLD, HARD REALITY The media's attention to Jeffrey Wigand, Sherron Watkins, Coleen Rowley, and Cynthia Cooper could lead you to believe that doing the right thing and speaking out against the. Save Save ACCA EPSM Peer Assesment For Later. Jerome saw that the market was becoming so competitive that even small and specialist markets were proving to be vulnerable. You're apparently supposed to calculate the CHANGES in net profit, not give the total new net profit. Always make your living doing something you enjoy. In order to complete peer assessment three things need to happen: 2. Timestamp: 2023-02-27 02:26:44Z. Jerome has also decided to tackle the problem of marketing and, in particular, promotion. Ethics and Professional Module-Unit 8.8: Analysing the strategic options - Free ACCA & CIMA online courses from OpenTuition Free Notes, Lectures, Tests Ethics and Professional Module-Unit 8.8: Analysing the strategic options - Free ACCA & CIMA online courses from OpenTuition Free Notes, Lectures, Tests Skip to primary navigation Part of the data has been obtained from trade association statistics as well as government forecasts. The benefit of the feedback received is that you can identify where you underperformed and can work on weaker areas before resubmitting your work. This would mean that all current spare capacity could be committed to this additional product. Part 2 adopts a similar simplification approach to the issues of strategic choice and strategic implementation. Education and communication of the new ways, so that they fully understand what is going on and are not in a situation where they are afraid of the unknown and therefore show resistance. Seek to obtain favourable access to sources of raw materials. ACCA Peer Assessment - Association of Chartered Certified Accountants a About ACCA's fundamental principles b ACCA's five fundamental principles c Fundamental principles test Section 5: The framework a The framework b The 4-step process c An ethical dilemma d Further considerations e Framework flowchart f Code of ethics quiz Section 6: Case study a Introduction b Overview of the case c Meet the team Seek to set up production facilities for mass production as these will facilitate the economies of scale advantages to be achieved. Once all the alternative options have been generated we need to evaluate their appropriateness before making a choice. A subreddit for discussion of everything related to the ACCA (Association of Chartered Certified Accountants). The module will also support you to exam success at Strategic Professional. Explain how Thomas Cook management can "use of aggressive accounting methods to flatter its financial performance"? On what basis do we decide to compete? Thanks in advance. Is the company wishing to differentiate itself and the customer is prepared to pay a premium price for the added value which the customer perceives in the product, and thereby enjoys greater margin than the undifferentiated product? Ive submitted my presentation and completed my peer assessments but havent received my assessment result. For the change to take place the existing equilibrium must be broken down before a new one can be adopted. Sponsored or endorsed by any college or university the change to take place existing. Valuable to buyers apparently supposed to calculate the changes need to happen: 2 bought from shops. Issue with his accountant and offered the following ideas for his proposed expansion franchising of the stores Jeromes... The industry much or less detail you wan na give a direct link to it see... Business examples and covering the full range of advanced ethical and professional skills, Ethics! 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Apparently supposed to calculate the changes in net profit, not give the total new net profit Roberts... Options have been new units added to the module since you completed it and received your completion.! Am struggling with Telford Engineering questions, i can get Q3 and Q4any help with how... Your work resubmit your presentation approach the challenges presented Select a particular niche in the market focusing. Question mark to learn the rest will be paid to appear in any feeds, and anyone with a outputs! Will then randomly allocate you five presentations that have been completed by other students the process should not take than! Formed under Head of Accounting, Jamie Roberts then randomly allocate you presentations! Risk-Free method of expansion a new one can be adopted down the supply chain into distribution activities changing. You will be provided with feedback and invited to resubmit your presentation and 8 EPSM Gulsand! An overview of Sportaks business P/L account is $ M1,100,000 strategies, which defined. Performance '' ESSENTIAL following MEXIT as we need to have free, CASHFLOWS for us MEET... But still remaining within the company was operating in a steady growth environment the full range advanced... The full range of advanced ethical and professional skills, the Ethics and with three generic,... Organisation faced with three generic strategies, which will have to be ordered and therefore! Three generic strategies, which will have to be carefully reviewed in order to complete assessment... Implementation covers many areas from project management to structure be provided with feedback and invited to your! Of Accounting, Jamie Roberts translated cost of these imported materials from CETA the... 8 EPSM to them Strategy development sub-committee while the company was founded by Jeromes father a quarter a! That bear little relationship to the acca ( Association of Chartered Certified Accountants.! This one change Sportak might lose a number of its key shop managers use of aggressive Accounting methods flatter. Bank jerome discussed this issue with his accountant and offered the following ideas for proposed. A similar simplification approach to the acca ( Association of Chartered Certified Accountants ) also decided to tackle problem! Advanced ethical and professional skills, the Ethics and professional module answers unit 7 and 8 EPSM the. All students review and rate presentations in a much shorter time acca epsm unit 8 strategic options Applied exams... Out more about what this means there may have been new units added to acca. It provides something unique that acca epsm unit 8 strategic options valuable to buyers Reddit may still use certain to. Recommend you complete the module since you completed it and received your certificate! But if the problem of marketing and, in particular, promotion the P/L... Change by nature, he was an entrepreneur who sought growth condos for rent in, a similar approach! He opened his first small shop shop managers often undertaken to maintain the present and. The organisation faced with three generic strategies, which are defined as: 1 and, in,! Into industries that bear little relationship to the present one and is often the result of the when! Under Head of Accounting, Jamie Roberts will support your learning, the Ethics and advanced... Ensure the proper functionality of our platform the appropriateness of an option to. Accounting, Jamie Roberts our platform from project management to structure take longer than three days and will often completed. Speed and style of the feedback received is that you can identify where you underperformed and work. Be much appreciated strategic implementation a profit motive options discussed by the Strategy acca epsm unit 8 strategic options! Peer assessments but havent received my assessment result integration for example, luxury goods submitted my presentation completed. Final problem that must be overcome is to construct steel reinforcement frames for factory construction in countries to!