Johnson and Scholes break down the issue of strategic choice into three distinct subheadings, which are: A useful framework to use here is Porters generic strategies. To be successful, one should consider the adoption of the following management styles to improve the acceptance of the change: Refreeze A development into activities concerned with a companys outputs also called downstream integration for example, move down the supply chain into distribution activities. This option is to construct steel reinforcement frames for factory construction in countries vulnerable to earthquakes. Jerome saw that the market was becoming so competitive that even small and specialist markets were proving to be vulnerable. If there is sufficient finance available an acquisition will provide a very quick way of providing access to new product/market areas and the new organisation will have economies of scale advantages. This is the most risky of the product market strategies as it involves the introduction of a totally new product in a new market. kwik trip leadership team condos for rent in, ! To find out the cost of the module please visit our pricing page. Forecasts of immediate future sales appear to be attractive. Hopefully you are now able to overview the strategic planning part of the syllabus in a more systematic and logical way. (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 Individual shop managers will be permitted to decide upon their stock range, but they will have to order from the central warehouse set up by Sportak. Part (b) would be best answered by mixing common sense with the key issues from strategic analysis, strategic choice and strategic implementation. Amy Poehler. He was not sure that the steady organic growth was appropriate to these conditions. It was at this time that Jerome took over the company from his father. This will ensure that the 6Ms are working for you in the best way possible. 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. 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? Uploaded By Ratings 83% (6) This preview shows page 1 - 2 out of pages. This means there may have been new units added to the module since you completed it and received your completion certificate. Does it build on identified strengths and exploit opportunities? What are professional skills and why are these important? ACCA Ethics Module - Unit 8 Presentation on Strategic options discussed by the sub-committee formed under Head of Accounting, Jamie Roberts. #NEW TO ACCA June 9th 2020 AN ACCA USER Retagged June 9th 2020 Login to answer Diversification By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. THIS IS ESSENTIAL FOLLOWING MEXIT AS WE NEED TO HAVE FREE CASHFLOWS FOR US TO MEET OUR SHORT-TERM OBLIGATION AND ENSURE OUR LIQUIDITY POSITION DOES NOT DETORIATE. The translated cost of these imported materials from CETA in the current P/L account is $M1,100,000. He believed that Sportak needed this expansion so as to take advantage of the profitable sales still available in this sector. 3. If you have not been successful you will be provided with feedback and invited to resubmit your presentation. 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. 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. Uploaded by Piotrek Potrzuski. Budgets and other performance management tools are likely to be used here. In Table 1 is a summary of the figures that have been prepared by Jeromes accountant for discussion. 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. In order to achieve cost leadership, some of the following need to be in place: 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. Please can guide me on the calculation? can u help me?pleaseee. It helps focus your thinking on real world work scenarios, developing your understanding and skills on how to approach the challenges presented. Epsm Unit 8 Module . Change Madhura Ranadive. OUR LIQUIDITY POSITION DOES NOT DETORIATE. Summary. I'm trying to do this now and I'm stuck here. ), How are we going to achieve the chosen direction? Should also provide brief supporting notes which might allow a presenter to expand the. So to have technical knowledge, skills and abilities - combined with professional skills and qualities - will be much more in demand by employers. You will need to rate each submission against three assessment criteria by selecting one of five grade descriptors. A major reason for this successful development lay with the philosophy of Jeromes father who delegated much of the decision-making to the individual shop managers. Jerome has also decided to tackle the problem of marketing and, in particular, promotion. 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. To what extent has this process harmed or benefited Sportak? Horizontal. You peer review and rate the presentations of five peers, 3. txt) or read online for free. Reddit and its partners use cookies and similar technologies to provide you with a better experience. Anybody got youtube links they used help . 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. You can nominate us in any or all of the following categories: Online College of the Year, Study Resource of the Year, Private Sector Lecturer of the Year, and Accountancy Personality of the Year. His fathers policy had been to open a store each year, funding this growth out of current earnings. 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: A formal agreement between two or more organisations to undertake a new venture together for example, Airbus (spreading of cost). In unit 8 of EPSM you will be asked to complete and submit a presentation which identifies and explains strategic options to deliver business performance improvements in an organisation. However, as with strategic analysis and strategic choice, it is possible to simplify the issues into a number of key sub-headings: Resource management whats app +923170004562 for any helpEPSM ans. https://i.postimg.cc/prKrFCLw/Analying-the-6-strategic-options-Screen-2.png There's always something to worry about - do you know what it is? 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. Timestamp: 2023-02-27 02:26:44Z. 1. Growth, using other peoples money, has its advantages, but it did not appeal to Jerome. EPSM Unit 8- Strategic Options.pptx - STRATEGIC OPTIONS IDENTIFIED BY THE SUB-COMMITTE STRATEGIC OPTION 1- COST REDUCTION CUTTING COSTS IS A KEY EPSM Unit 8- Strategic Options.pptx - STRATEGIC OPTIONS. Therefore, to summarise what we have just said: Let us see how we can expect to get questioned in this area in the exam. Seek to obtain favourable access to sources of raw materials. 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. Look to develop product designs that facilitate automation. Can anyone assist me on the Unit 8 strategic options questions which the Strategy Development sub-committee would have identified. The global body for professional accountants, Can't find your location/region listed? All you need to remember is the key steps of strategic analysis, choice and implementation. Thanks in advance. Jerome anticipates that sales per store will rise by about 8% over the next year. Once a student has paid for the module they will be able to do the assessment multiple times and have unlimited access to the module content. The module takes approximately 15 hours to complete and you are able to access any of the module content again once completed if you wish to refresh your knowledge. The module will also support you to exam success at Strategic Professional. If I have completed the old Professional Ethics Module do I still need to complete the Ethics and Professional Skills module? The process should not take longer than three days and will often be completed in a much shorter time period. Adapted from an article originally written by Sean Purcell BA ACMA (a leading freelance lecturer), Becoming an ACCA Approved Learning Partner, Virtual classroom support for learning partners, Strategic Business Leader 10 things to learn from the September 2018 sitting, How to approach Strategic Business Leader. We track these errors automatically, but if the problem persists feel free to contact us. Cost focus: This involves selecting a particular niche in the market and focusing on providing products for that niche. I'm struggling with this section. (Ansoffs product market matrix, do nothing, withdraw. Your presentation will be reviewed and rated by five other students and you will be required to review and assess five presentations prepared by others. The answers to these two choices leave the organisation faced with three generic strategies, which are defined as: 1. View community ranking In the Top 5% of largest communities on Reddit. About Press Copyright Contact us Creators Advertise Developers Terms Privacy Policy & Safety How YouTube works Test new features NFL Sunday Ticket Press Copyright . Part 1 considered the complexities of strategic planning and how they can be broken down into three main areas. How are we going to achieve the chosen direction? 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. The managers were also permitted to develop local marketing activities, using sales promotions and publicity as they felt appropriate. This has meant that the material imports from CETA have become significantly more expensive. Thank you. Ansoff represented the last four choices in his product/market matrix. CUTTING COSTS IS A KEY STRATEGY TO TURN AROUND. Valheim . These shop managers were remunerated partly by a basic salary and partly by a sales-related performance bonus, which could be up to 40% of their basic salary. Market share can be enhanced by such techniques as improved quality, productivity or increased marketing activity. Set out to be the lowest cost producer in an industry. Another reason may be that there is not sufficient finance available for an acquisition or that the government may prevent acquisition/merger through legislation. The EPSM helps you develop these practical real-world skills so you can make an impact from day one in organisations. 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