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ACCA Paper P3 – Business Analysis

Course slides

For exams in

June 2010

Syllabus

A Strategic position

B Strategic choices

C Strategic action

D Business process change

E Information technology

F Quality issues

G Project management

H Financial analysis

I People

Examiner & format of the exam

Examiner: Steve Skidmore

Format of the Exam Marks

Section A Compulsory case study; in several parts

(Can be based on any area of the syllabus; not limited to Sections A-C)

Section B Choose two out of three questions (25 marks each)

Total 100

Three hour exam + 15 minutes reading time

The June 2009 exam

Topics examined in the June 2009 exam

Question 1 SWOT analysis; strategy evaluation and choice; process deficiencies and recommendations to rectify

Question 2 Reasons for success/failure; leadership styles; franchising

Question 3 Using financial information; implications of failing to follow proper evaluating procedures

Question 4 Management reward schemes; DMAIC methodology

The December 2008 exam

Topics examined in the December 2008 exam

Question 1 Environmental analysis (PESTEL); organisational culture; strategic lenses

Question 2 Rationales for acquisitions, appropriateness of a proposed acquisition

Question 3 Software testing; project management and dealing with slippage

Question 4 Reward management schemes – assessing deficiencies and limitations in proposed schemes

The December 2008 exam is included as Mock Exam 3 in the 2009 BPP

Learning Media Practice and Revision kit

The June 2008 exam

Topics examined in the June 2008 exam

Question 1 Environmental analysis; strategic choices; reward management

Question 2 Business process change and outsourcing

Question 3 E-marketing and its impact on the extended marketing mix

Question 4 Strategic change and the organizational context of change

The December 2007 exam

Topics examined in the December 2007 exam

Question 1 Corporate appraisal; evaluation of strategic options

Question 2 Project management

Question 3 Value chains and supply chain analysis

Question 4 Quality issues and Six Sigma

The BPP Learning Media classroom slides

What do these slides cover?– A selection of key areas of the syllabus

Using the slides – Use the slides as a point of reference– Add detail by talking around the slides (eg

using material from the corresponding Study Text chapter)

– Consider adding slides yourself to suit your course

– Recommend students attempt appropriate questions from the Practice & Revision Kit

Chapter 1

Business strategy

Study Text Chapter 1

What is P3 about?

Mission and objectives

Vision

Mission

Goals and objectives

Objective setting

Mission

Horizontal consistency

Time consistency

Corporate

Business

Operational

Individual

Vertical consistency

The Rational Model

MISSION &OBJECTIVES

CORPORATEAPPRAISAL

STRATEGICOPTIONS

STRATEGICCHOICE

STRATEGICIMPLEMENT

STRATEGICCONTROL

ENVIRONMENTANALYSIS

POSITIONAUDIT

Position

Choice

Action

Strategy lenses

Experience

Design

Examined 12/08

Mintzberg’s Emergent strategies

Intended strategy

Unrealised strategy

Deliberate strategy

Emergent strategy

Realised strategy

Chapter 2

Environmental issues

Competition

Market

FirmSupply Chain

The Environment

Examined 12/08

International environment & drivers for change

GlobalStrategies

Global MarketConvergence

Global Competition

GovernmentInfluences

Cost Advantages

Firm strategy, Structure and Rivalry

Related and supporting industries

Demand conditions

Porter’s Diamond

Factor conditions

Porter’s 5 Forces

Suppliers

Potentialentrants

BuyersCompetition and rivalry

Substitutes

Examined 6/08

Question practice – end of Chapter 2

You should now be able to attempt the following key questions from the BPP Learning Media Practice and Revision Kit:

Chapter 3

Competitors and customers

Marketing Concept

-Establish needs (mkt research)

- Develop appropriate product (R&D)

Profit through customer

Stress ability of product to satisfy

Feedback

Marketing mix

• Product

• Price

• Place

• Promotion

4 P’s

• People

• Processes

• Physical evidence

Examined 6/08

Market segmentation

Segmentation

Targeting

Positioning

Market targeting

Firm Market4 P’s

Undifferentiated

Market targeting

Differentiated

Market

4 P’s

Market targeting

Concentrated

Firm Market

Market

4 P’s

Product Positioning

High price

High quality

Low price

Low quality

Premium brands

Bargain brandsEconomy brands

Cowboy brands

Customer profitability analysis (CPA)

Customer A Customer B

No of Tubes 6,500 @ £21.25 10,000@ £20

Revenue (after discount)

138,125 200,000

Transport (22,750)

Admin (2,600) (2,000)

Profit 112,775 198,000

Margin 81.6% 99.0%

Q10 Q11

Chapter 4

Strategic capability

Organisation’s resources

• Machinery

• Make-up

• Management

• Management information

• Markets

M’s model

• Materials

• Men and women

• Methods

• Money

Qualities of strategic capabilities

• Valuable to buyer (customer)

• Rarity

• Robustness (difficult for competitors to imitate)

• Non-substitutability

What is knowledge?

Information

Knowledge

Sales Day Book

Sales Ledger

Key contact

Knowledge management

Intuition / experiment

Conflicting views

TacitKnowledge

Learning organisation

Explicit –Externalisation

Shared –socialisation

InboundLogistics

Operations OutboundLogistics

Marketing& Sales

Service

Primary Activities

Procurement

Human Resource Management

Technology Development

Firm Infrastructure Support Activities

Value ChainS

Primary Activities

Examined 12/07

Product Life Cycle

Profit; cashflow

Intro Growth Mature Decline

Examined 6/08

INTERNAL : RELATIVE TO COMPETITION

WEAKNESSESSTRENGTHS

EXTERNAL: PRESENT TO ALL INDUSTRY MEMBERS

OPPORTUNITIES THREATS

SWOT Analysis Examined 12/07; 06/09

STRENGTHS WEAKNESSES

WT Strategies

WO StrategiesSO Strategies

ST Strategies

TOWS Approach

OPP’S

THREATS

Q12 Q13 (a) Q2

Chapter 5

Stakeholders, ethics and culture

Stakeholders

• Internal

• Connected

• External

Mendelow’s Matrix

Interest

Minimal Effort Keep Informed

Keep Satisfied Key Players

Governance systems

• Anglo-Saxon model

• Rhine model

• Latin model

• Japanese model

Classification of organisational cultures

• Power culture

• Role culture

• Task culture

• Existential culture

Cultural web

Org’nstructure

Symbols & Titles

Controlsystems

Rituals & routines

Myths & stories

Organisational Assumptions

(The Paradigm)

Power relations

Examined 12/08

Culture, the environment and strategy

The cultural web was examined in Part (b) of Question 1 from the 12/08 exam, which forms Mock Exam 3 in the Kit

Chapter 6

Strategic options

Globalisation and international diversification

5 Stages of evolution:

• Exporting

• Overseas branches

• Overseas production

• Insideration (polycentric)

• Global company (geocentric)

Ohmae - 5 C’s

5 reasons for going global:

• Customer

• Company

• Competition

• Currency

• Country

Market selection

Source: Kotler

Corporate Parent

3 value-creating roles:

• Envisioning corporate intent

• Intervention to improve performance

• Provision of services, resources and expertise

Portfolio managers

Synergy managers

Parental developers

Examined 12/08

Portfolio Analysis- BCG Matrix

Relative Market Share

StarQuestion Mark or Problem Child

Cash Cow Dog

Examined 12/08

Reaching objectives

ABC Ltd ABC Ltd

Where are we now? Where do we want to be?

$10 m $50 m

Generic strategies

Strategic direction

Methods of growth

Strategic Options – steps to follow

Generic strategies

Direction of growth

Methods of growth

Strategic Options – step 1

Cost leader

DifferentiatorStuck in middle

Porter’s Generic Strategies

Low CostLow Cost High CostHigh Cost

Low PriceLow Price

High PriceHigh Price

High CostHigh Cost

Low PriceLow Price

High ProfitHigh Profit

High ProfitHigh ProfitLow ProfitLow Profit

Examined 12/07

Basis of Competitive Advantage

COMPETITIVE BASIS

Narrow

Cost Leadership

Differentiation

Cost Focus

Differentiation Focus

Low cost Differentiate

Strategy Clock Examined 12/07

Basis of competition

Direction of growth

Methods of growth

Ansoff’s Matrix

MARKET

PRODUCT

Present

•Withdrawal

•Consolidation

•Penetration

Product Development

Market Development

Diversification

• Related

• Unrelated

Present New

Diversification

Backward vertical

Forward vertical

HorizontalConglomerates

Examined 12/08

Basis of competition

Direction of growth

Methods of growth

Acquisition

B plc A plc

Merger

B plc A plc

AB plc

Other strategies

• Withdrawal

but consider exit barriers?

• Divestment

• Demerger

• Privatisation

Examined 6/08

Evaluating Strategic Options

Suitability

Acceptability

Feasibility

Examined 6/09

Q37(b)

Q39(a)

Chapter 7

Organising for success

Types of structure

7 basic structural types:

• Functional

• Multi-divisional

• Holding company

• Matrix

• Transnational

• Team

• Project

Matrix structure

Area Manager A

Area Manager B

Area Manager C

Production Dept

Sales Dept

Finance Dept

Distribution Dept

R & D Dept

Marketing Dept

Types of control process

Input Output

Direct Supervision

Planning processes

Performance targets

Balanced scorecard

Indirect Cultural processes

Self-control

Internal markets

Balanced scorecard - financial

Financial perspective

Goals Measures

Survive Cash flow

Succeed

Prosper

Sales growth

Increase EPS/dividends

Balanced scorecard- customer

Customer perspective

Goals Measures

Preferred supplier

Customer rating

Fastest supplier

Low bad debts

Orders delivered on time

% provision of sales ledger

Balanced scorecard – innovation & learning

Innovation & learning perspective

Goals Measures

Excellence Rework/reject rates

Market leader

Time to market

Product rating v competitors

Time taken from R&D to sales

Balanced scorecard – internal

Internal business perspective

Goals Measures

New technology

No. of patents registered

Staff competence

Technology transfer

No. of training courses attended

Inter-company learning rates

Value system and networks

Supplier Company Distributor

Customer

Supply chain mgmtCRM

Examined 12/07

Virtual Organisations

Core Company

(Management,

Key employees)

Specialist

Services

Specialist

Services

Links to

customers

Links to

suppliers

Organisational configuration

Strategic Apex

Operating Core

Techno Structure

Support StaffMiddle Line

Strategy

Tactics

Operations

Control

Q18 (a)

Chapter 8

Business processes

Process improvement projects

ImprovementImprovement

RedesignRedesignReengineeringReengineeringImprovementImprovement

ERP Systems

ENTREPRISE SYSTEM

Manufacturing

Finance

Sales and Marketing

Accounting

Suppliers Customers

InboundLogistics

Operations OutboundLogistics

Marketing& Sales

Service

Primary Activities

Procurement

Human Resource Management

Technology Development

Firm Infrastructure Support Activities

Value Chain

•JIT;•MRPII;

•DSS;•MRP II;•Robots

•GPS;•Route planning;•Sales order processing

•Websites &e-commerce•Interactive screens

•TrackingDiagnostics

EDI, Extranets, JIT procurement

CBT, Expert systems, Computerised payroll

CAD, CIM, Simulations, Prototyping

EIS, Groupware, Teleworking, Intranets

Processes and value chain

Process-strategy matrix

Strategic importance

Complexity

Outsource Improve

Automate/

outsourceAutomate

Examined 6/08

Process redesign methodology

Problem Identification

Planning

Redesign

Transition

Analysis

Development

Initial Feasibility

You should now be able to attempt the following key question from the BPP Learning Media Practice and Revision Kit:

Q21 Q12 (a) Q22

Chapter 9

Improving processes

Process redesign

4 basic redesign patterns (Harmon):

• Re-engineering

• Simplification

• Value-added analysis

• Gaps and disconnects

Establishing software requirements

7 techniques for fact gathering:

• Interviews

• Questionnaires

• Written questions

• Observation

• Protocol analysis

• Workshops

• Prototyping

Chapter 10

E-business

Benefits of e-business

• Cost reduction

• Capability

• Communication

• Control

• Customer service

• Competitive advantage

Adopting e-business

e-HRWeb-conferencing

e-collaboratione-invoicing

e-procurementDocument management

Web portalsCompany intranet

Email, Internet, company website, remote working

Initial capability

Mature capability

Business Consumer

Varieties of e-commerce

Business

Consumer

Delivery by

eg Priceline.com

eg eBay.com

eg Amazon.com

Market place channel structures

• Disintermediation

• Reintermediation

• Countermediation

Direct Intermediaries

Business

Customer

Supply chain management

CustomerSupplier Manufacturer Distributor Outlet

Capacity, inventory levels, delivery schedules,

payment terms

Orders, return requestsRepair and service requests,

payments

Examined 12/07

Strategy for e-commerce

Suitability

Acceptability

Feasibility

Q23 Q24

Chapter 11

E-marketing

Marketing strategy

Situation analysis

Control

E- marketing

Actions

Tactics

Strategies

Objectives

6 I’s

Independence

Industry

E-marketing

Integration

Interactivity

Individualisation

Intelligence

Examined 6/08

7 P’s

Product (customer value)

Place (customer

convenience)

E-marketing

People

Processes

Promotion (customer

communication)

Price (customer cost)

Physical evidence

Examined 6/08

Acquisition ExtensionRetention

CRM Systems

Sales•Phone•Web•Retail

Marketing•Campaigns

•Data analysis

Service•Call centre

•Web self-service info•Field Service data

•Unified view•Consistent message

•Long-term relationships

CRM software

Managementreporting

E-marketing

Marketing automation

Service management

Sales automation

Chapter 12

Quality

Terminology

• Quality

• Quality management system

• Quality control

• Quality assurance

Examined 12/07

Quality in IS

• Functionality

• Reliability

• Usability

• Build (flexibility, portability, ease of maintenance)

V model

Acceptance test plan

System test plan

Integration test plan

Test cases

Spec &

DesignTesting

Examined 12/08

CMMI – five levels

5. Optimisation

4. Consistent management

3. Define standard processes

2. Repeatable success

1. Initial capability

Six Sigma

Organisation 6 Sigma

Qualitytools

Concepts

Examined 12/07

Q25 Q27 Q26

Chapter 13

Project management

Resources

RiskTime

Examined 12/07

The Project Lifecycle

Project Definition

Project Design

Projectdelivery

Projectdevelopment

Examined 12/07

4 stage project lifecycle (Maylor)

The Project Lifecycle

Resources

Initiation

PlanningExecutiong

Control

Completion

The Project Lifecycles differ…..

Resources

InitiationPlanning

Execution

Control

Completion

Gantt Charts

As at the end of week 10 Activity Weeks 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15

1 Order computer/arrange finance

2 Agree delivery dates

3 Select site

4 Plan and prepare site

5 Prepare for delivery

6 Install computer

7 Engineers’ acceptance tests

8 Operational tests

9 Plan and prepare permanent staff

work areas and accommodation

Current time line

------------------------------------------------------------------

54 115 256

251153

Critical path analysis

32 day project that only has buffer time in activity B

Examined 12/08Dealing with slippage

• Add resources- Potential impact on cost?

• Work smarter

• Reschedule – in full or in part

• Change scope / specification- Potential impact on quality?

• Introduce incentives

Q18 (b)

Q30 Q31

Chapter 14

Finance

Finance and strategy

Finance

Shareholder expectations

Funding

Managing for value

Financial analysis and strategy

ImplementationFinancialanalysis

Strategic Choice

Strategicanalysis

Mission

Financial analysis - ratios

• Profitability

• Liquidity

• Gearing

• Shareholders’ investment

Chapter 15

Leadership, performance and

reward

Leadership

“If you want to know if you are a leader…look behind you.

If there is no one there you are not a leader…….”

Strategic HRM

Human ResourcePlanning

Recruitment &Selection

PerformanceManagement &Development

HR Environment

Human Resource Planning

Supply Demand

Skills

Experience

Aspirations

Natural Wastage

New skillsNew attitudeGrowth/contractionNew Technology

STRATEGY

The HR cycle

Selection Performance

HR Dev’t

Appraisal

Rewards

Examined 6/08

Reward management

Reward objectives Reward options

Examined 12/08; 06/09

• Recruitment & retention

• Motivation

• Compliance with rules and expectations

• Base pay

• Performance pay

• Indirect pay

Q47(c) Q35

Chapter 16

Job design and staff development

The HR cycle

Selection Performance

HR Dev’t

Appraisal

Rewards

Job design

4 approaches:

• Scientific management

• Job enrichment

• Japanese model

• Re-engineering

Human resource development (HRD)

Training = an investment in strategic capability

• Competitive advantage through upgraded skills

• Employee loyalty

• Contribution to success of strategy and operations

Chapter 17

Managing strategic change

Types of changeN

Scope of change

Incremental

Big bang

Adaptation Evolution

Reconstruction Revolution

Realignment Transformation

Examined 6/08

Context of change

Scope & nature of change

Examined 6/08

Readiness

Capacity Capability

Diversity

Preservation

Change programme

Scope & Nature of change

Force field Analysis – Lewin

Current State

Ideal State

Driving Forces

Restraining Forces

Need to improve

Running costs

Improved Quality

Greater Motivation

Sufficient

Complexity

Divisive

Trade Union

Overcoming resistance

Consider:

• Pace

• Manner

• Scope

• Communication

• Consultation

• Counselling

Styles of change management

•Education and communication

•Collaboration / participation

•Intervention

•Direction

•Coercion / edict

Incremental

Transformational

Approaches to strategic leadership

Control

Change

Expertise

Human assets

Strategy

Examined 6/09

Change management levers

• Challenging the paradigm

• Changing routines

• Use of symbolic processes

• Political activity and use of power structures

• Communication and monitoring

• Tactics (exploration of quick wins; care over announcing bad news)

Q38 (c) Q36 Q33

Chapter 18

Strategic development

Intention, emergence and realisation

Emergent strategy

Intended strategy

Realised strategy

Unrealised strategy

Uncertainty and complexity

•Scenario planning•Logical incrementalism•Learning organisation

•Decentralisation•Specialisation•Experience

•Learning

Decentralisation and specialisation

Historical analysis and forecasting

Environmental conditions

Complex

Dynamic

SimpleStatic

Bringing it all together…

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