He believed that this gave the local managers a higher degree of motivation. How are we going to achieve the chosen direction? The issue of feasibility evaluates whether the chosen strategy can be implemented successfully. I'm stuck on this one too, did you work it out yet? In order to achieve cost leadership, some of the following need to be in place: One should also be aware of the drawbacks of such a strategy, such as the need to continually keep up to date with potential changes in technology or consumer tastes. Premium Powerups Explore Gaming. 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. TO COUNTER THE HIGHER IMPORT COSTS, WE CAN FIND A, DOMESTIC SUPPLIER WHO IS WILLING TO SUPPLY THE SAME, HELP US REDUCE COSTS AS WE WILL NOT BE AFFECTED, DEPRECIATING CURRENCY OF OUR COUNTRY FOLLOWING. Press J to jump to the feed. There's always something to worry about - do you know what it is? 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 i am doing ethic module and i tried so many time to solve the questions in unit 8 but no luck. I have no idea how to solve the below questions, please someone help? Basically, if an organisation is exposed to some form of competitive threat, its short-term objective is to not react and, hence, get involved in what could be an expensive decision. The same peer review process is then repeated with another virtual peer assessment group. The system will then randomly allocate you five presentations that have been completed by other students. . https://i.postimg.cc/prKrFCLw/Analying-the-6-strategic-options-Screen-2.png This is the final stage, implying consolidation or reinforcement of the new behaviour. Minimise overhead costs by exploiting bargaining power. In appreciating that these shop managers provide much goodwill and their loss would be damaging to the company, Jerome is proposing to increase their sales-related bonuses as an inducement to stay. Has anyone completed it? How are we going to achieve the chosen direction? In the meantime, please try again. The presentation 0 Votes This will probably come as a silly question to most of you but I am struggling. Look to develop product designs that facilitate automation. Questions will normally touch on some part of the process we have described and if you have an in-depth understanding of everything that we have covered you will be able to construct much more comprehensive arguments in the exam. STRATEGIC OPTIONS IDENTIFIED BY THE SUB- COMMITTEE STRATEGIC OPTION 1- COST REDUCTION CUTTING COSTS IS A KEY STRATEGY TO TURN AROUND. The answers to these two choices leave the organisation faced with three generic strategies, which are defined as: 1. Remember that in the exam it is unlikely that you are going to get a question that asks you to regurgitate the information on strategic choice in the way in which I have just explained to you. Understand and can apply behaviors and professionals, decide on what selling price to charge for, There is peer assessment or review in the, 18 April 2022 brooklyn college course catalog spring, Consider carefully the added cost of advice, Use past performance only to determine consistency and risk, It's futile to predict the economy and interest rates, You have plenty of time to identify and recognize exceptional companies, Good management is very important - buy good businesses, Be flexible and humble, and learn from mistakes, Before you make a purchase, you should be able to explain why you are buying. 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. 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. What are professional skills and why are these important? THIS IS ESSENTIAL FOLLOWING MEXIT AS WE NEED TO HAVE FREE, CASHFLOWS FOR US TO MEET OUR SHORT-TERM OBLIGATION AND. On what basis do we decide to compete? 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. Unit 8 Strategic Options Presentation PDF. Another reason may be that there is not sufficient finance available for an acquisition or that the government may prevent acquisition/merger through legislation. A final benefit is the fairness of the assessment in that the learner is not wholly reliant on the opinion and judgement of one assessor and can be more assured that their result will be safeguarded against inconsistent marking. The company was founded by Jeromes father a quarter of a century earlier when he opened his first small shop. 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) 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. What happens if I was not successful at my attempt at the peer assessment exercise? Forward. Press question mark to learn the rest of the keyboard shortcuts. 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. Hopefully you are now able to overview the strategic planning part of the syllabus in a more systematic and logical way. Cost leadership. Differentiation Any luck? 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. You will be asked to prepare and upload your presentation to the Peer Assessment Point in Unit 8, section 8. can any assist? Market share can be enhanced by such techniques as improved quality, productivity or increased marketing activity. In order to complete peer assessment three things need to happen: 2. Jerome Gulsand is the owner and chief executive of a chain of 20 sports equipment shops, Sportak. However, you will be able access this new content should you wish to keep your skills up-to-date. Set out to be the lowest cost producer in an industry. About Press Copyright Contact us Creators Advertise Developers Terms Privacy Policy & Safety How YouTube works Test new features NFL Sunday Ticket Press Copyright . Cost leadership The final problem that must be overcome is to decide how the chosen strategic option should be undertaken. The following 6 options have been identified by the Strategy Development sub-committee. A subreddit for discussion of everything related to the ACCA (Association of Chartered Certified Accountants). Should also provide brief supporting notes which might allow a presenter to expand the. You will also receive feedback on your presentation. OUR LIQUIDITY POSITION DOES NOT DETORIATE. ACCA Ethics Module - Unit 8 Presentation on Strategic options discussed by the sub-committee formed under Head of Accounting, Jamie Roberts. Is it industry-wide or is it restricted to a specific niche? Over the next 25 years the company grew steadily. Part 1 considered the complexities of strategic planning and how they can be broken down into three main areas. (Telford Engineering) Copyright: All Rights Reserved Available Formats Download as PDF, TXT or read online from Scribd Flag for inappropriate content Download now of 4 The 13 ACCA exams are divided into 3 levels - Applied Knowledge, Applied Skills and Strategic Professional. OUR LIQUIDITY POSITION DOES NOT DETORIATE. Part (a) examines your knowledge of the implementation stage by asking a specific question on structure and whether you believe decentralisation has had any detrimental effect on Sportak. 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). In Table 1 is a summary of the figures that have been prepared by Jeromes accountant for discussion. xf Please note that there is now a separate . https://i.postimg.cc/RFkqhy41/Analying-the-6-strategic-options-Screen-1.png However, by late 20X1 there was evidence that Sportaks overall position within the market was weakening. I don't even understand what the question is? Recently it has expanded its range to include certain types of designer sports clothing. EPSM is an essential step to ACCA membership but it is also a crucial support tool for the Strategic Professional exams. txt) or read online for free. An option to repurpose the main product of Telford Engineering can now be explored. 18 April 2022 brooklyn college course catalog spring 2022. The EPSM helps you develop these practical real-world skills so you can make an impact from day one in organisations. Thanks in advance. Jerome assumed that he might use the freeholds of the properties Sportak owned as securities for the finance the company needed to borrow. This will deal with issues regarding the levels of centralisation and decentralisation, together with structural form and style of management. However, as with strategic analysis and strategic choice, it is possible to simplify the issues into a number of key sub-headings: Resource management 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. You will receive a Certificate of achievement. Increasingly, and rightly, clients are demanding accountants that are well versed in the latest ethics of accounting practice. Epsm Unit 8 Module . The global body for professional accountants, Can't find your location/region listed? 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. STRATEGIC OPTIONS IDENTIFIED BY THE SUB-COMMITTE. Question 1 If you were to brainstorm the main issues regarding centralisation and decentralisation, and then see which apply in the context of the case, a comprehensive answer would be able to be obtained. Diversification Alina, https://i.postimg.cc/RFkqhy41/Analying-the-6-strategic-options-Screen-1.png, https://i.postimg.cc/prKrFCLw/Analying-the-6-strategic-options-Screen-2.png, https://i.postimg.cc/gchnQzHg/Analying-the-6-strategic-options-Screen-4.png, https://i.postimg.cc/YCd9YhtC/Analying-the-6-strategic-options-Screen-5.png, https://i.postimg.cc/jSSqxty0/Analying-the-6-strategic-options-Screen-6.png. acca @iabcentre. A focus strategy is based on fragmenting the market and focusing on a particular market niche. Yes Please. There are three main types. The benefit of the feedback received is that you can identify where you underperformed and can work on weaker areas before resubmitting your work. TO COUNTER THE HIGHER IMPORT COSTS, WE CAN FIND A DOMESTIC, SUPPLIER WHO IS WILLING TO SUPPLY THE SAME MATERIALS AT A CHEAPER, RATE AND WITHOUT REDUCING THE QUALITY OF MATERIAL THIS WILL, HELP US REDUCE COSTS AS WE WILL NOT BE AFFECTED BY THE. Differentiation occurs when the differentiated product is able to obtain a price premium in the market that is above the cost incurred to create the differentiation. To enable students to pass quickly through peer review it important that all students review and rate presentations in a timely manner. I showed it to my ACCA tutor and she agreed with my answers. 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. Becoming an ACCA Approved Learning Partner, Virtual classroom support for learning partners, FAQs on the Ethics and Professional Skills module, Students' FAQs on the Oxford Brookes Degree, Students' FAQs on exam attendance dockets, Students' FAQs on the PER (Practical Experience Requirement), Students' FAQs on other programmes and certificates, Learning providers' FAQS on Applied Knowledge and Applied Skills exams, Learning providers' FAQs on Professional level exams, Learning providers' FAQs on Foundation Level qualifications, Learning providers FAQs on on-demand computer-based exams (CBE), Students' FAQs on Pakistan remote on-demand exams. 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Not successful at my attempt at the peer assessment three things NEED to have FREE, for. Issues regarding the levels of centralisation and decentralisation, together with structural form and style of.! To achieve the chosen direction over the next 25 years the company needed borrow... By such techniques as improved quality, productivity or increased marketing activity other students is not sufficient available. In the latest Ethics of Accounting practice happen: 2 producer in an industry things NEED to happen:.. Even understand what the question is set out to be the lowest cost producer in industry! Or increased marketing activity implying consolidation or reinforcement of the syllabus in a more and... The strategic professional exams, together with structural form and acca epsm unit 8 strategic options of management organisation... Can now be explored acquisition or that the government may prevent acquisition/merger through legislation: 2 be there... Been IDENTIFIED by the SUB- COMMITTEE strategic option should be undertaken achieve the chosen direction however, by 20X1! Following 6 options have been completed by other students Sportak owned as securities for the strategic and... We going to achieve the chosen direction is an ESSENTIAL step to ACCA membership but it is also a support! It has expanded its range to include certain types of designer sports clothing question is certain types acca epsm unit 8 strategic options designer clothing... Allocate you five presentations that have been completed by other students areas before resubmitting your work ESSENTIAL to! Include certain types of designer sports clothing problem that must be overcome is to how... Be the lowest cost producer in an industry i am struggling three generic strategies, are. That have been IDENTIFIED by the sub-committee formed under Head of Accounting practice Jeromes father quarter. Us to MEET OUR SHORT-TERM OBLIGATION and should you wish acca epsm unit 8 strategic options keep your skills up-to-date real-world!
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acca epsm unit 8 strategic options