This is very similar to the approach youll be required to take at Strategic Professional exams. Does it fit in with the organisations mission? 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. 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. Set out to be the lowest cost producer in an industry. 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, you will be able access this new content should you wish to keep your skills up-to-date. A focus strategy is based on fragmenting the market and focusing on a particular market niche. I'm trying to do this now and I'm stuck here. ACCA EPSM Peer Assesment. By nature, he was an entrepreneur who sought growth. . Once this has been completed and your submission has been reviewed by five peers, the system will provide you with a dashboard which notifies you of your assessment result (pass or fail). 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. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. 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. Advertisement Coins. There are a series of tests throughout the module and the final unit of the module is an assessment which you will need to pass. Or. an important part of continuous improvement. We therefore recommend you complete the module towards the end of completing your Applied Skills exams and before attempting any Strategic Professional exams. I don't even understand what the question is? 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. kwik trip leadership team condos for rent in, ! WE HAVE ALREADY OUTSOURCED MUCH OF THE ACCOUNTING. For the change to take place the existing equilibrium must be broken down before a new one can be adopted. Sports personalities will be paid to appear in all stores, which will have to be re-equipped. (Porters generic strategies. At least I'm not the only one, I just cant seem to crack any of the others Has anyone been able to solve the answers for section 8? Question : A company source of competitive advantage can be from its skilled employees. ), Which direction should we choose? EPSM Unit 7 Final assessment - Telford Engineering 6 Strategic Options - 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 EPSM Unit 7 Final assessment - Telford Engineering 6 Strategic Options 0 Votes I am stuck with these six strategic options. Often undertaken to maintain the present equilibrium within the company as it is much less disruptive than an acquisition. AADB2C: An exception has occurred. You will be asked to prepare and upload your presentation to the Peer Assessment Point in Unit 8, section 8. Growth, using other peoples money, has its advantages, but it did not appeal to Jerome. If you have not been successful you will be provided with feedback and invited to resubmit your presentation. Focus However, as with strategic analysis and strategic choice, it is possible to simplify the issues into a number of key sub-headings: Resource management Negotiation may also be appropriate if there are large group stakeholders such as a trade union. EPSM is an essential step to ACCA membership but it is also a crucial support tool for the Strategic Professional exams. Thank you. Yes Please. Diversification This is an alternative to the present product and builds on present knowledge and skills. Thanks in advance. Acceptability 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. After MEXIT the exchange rate value of $M fell from $C1.40 to the current rate of $C1.12. Yes Please. ), strategic implementation (resource management, organisational structure, management of change). This may be followed so as to maximise the return on a business that may be at the top of its cycle and, hence, will be in line with the goal of maximisation of cash flows. Industry: F&B in Malaysia Industry Analysis Industry attractiveness determined by interaction of 5 competitive forces. 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. All you need to remember is the key steps of strategic analysis, choice and implementation. whats app +923170004562 for any helpEPSM ans. hello i'm also attempting SBL exam in June 2021.. if you're comfortable at discussing things together, then you can contact me at ar300825@gmail.com, Stuck at unit 8 strategic options questions 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 To be successful, one should consider the adoption of the following management styles to improve the acceptance of the change: Refreeze Madhura Ranadive. 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). Jerome assumed that he might use the freeholds of the properties Sportak owned as securities for the finance the company needed to borrow. The shop managers will also be encouraged to stock more expensive lines of products where the margins will be higher and, in addition, they will be expected to hold much more stock. 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. The presentation 0 Votes This will probably come as a silly question to most of you but I am struggling. In the meantime, please try again. (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 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. This involves following the current strategy while events around change and can often prove to be a successful short-term strategy. One of the Strategy and Development sub-committee members suggested that as Telford Engineering has core capability in constructing steel frames for bridge building, all the spare capacity could be used to fabricate a completely new, but similarly constructed product using the same process of manufacture. 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. Set out to be the lowest cost producer in an industry. I've spent 4 days trying to answer this question. Joint development 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. Does it build on identified strengths and exploit opportunities? To save time, simply think about the 6Ms. This involves development of the product and market but still remaining within the broad confines of the industry. 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. He believes that this growth in sales, accompanied by his more aggressive approach to retailing, will enable his bold expansion plans for Sportak to be achieved. 2. The following questions need to be addressed about the strategic options: Feasibility Improve your future. ACCA Ethics Module - Unit 8 Presentation on Strategic options discussed by the sub-committee formed under Head of Accounting, Jamie Roberts. An option to repurpose the main product of Telford Engineering can now be explored. https://i.postimg.cc/YCd9YhtC/Analying-the-6-strategic-options-Screen-5.png Sample ACCA exam The resources the organisation has at its disposal will obviously determine this. We are asked to identify and explain some strategic options to turn around the financial performance of a given company. Presentation on Strategic options discussed by the sub-committee formed under Head of Accounting, Jamie Roberts. Continuous and incremental improvements in our value, chain by seeking more & more efficiency and, effectiveness in the way activities are carried o. great importance in todays competitive world. This will increase the current sales value by 10% and the materials costs will remain at 30% of sales for this additional output. A formal agreement between two or more organisations to undertake a new venture together for example, Airbus (spreading of cost). SWOT analysis is a planning methodology that helps organizations build a strategic plan to meet goals, improve operations and keep the business . 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 The higher sales margin would mean that the total cost of materials for this product will only be 25% of sales. I'm stuck on this one too, did you work it out yet? A subreddit for discussion of everything related to the ACCA (Association of Chartered Certified Accountants). These methods of operation were satisfactory while the company was operating in a steady growth environment. whats app +923170004562 for any helpEPSM ans. Budgets and other performance management tools are likely to be used here. Product development Horizontal. As a result of the changing business landscape globally, employers are looking for finance professionals to add value immediately. (Internal, external, joint venture. xf Set out to be the lowest cost producer in an industry. To truly differentiate yourself we must understand the product or service offered and the customer to whom you are selling it. 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. STRATEGIC OPTIONS IDENTIFIED BY THE SUB- COMMITTEE STRATEGIC OPTION 1- COST REDUCTION CUTTING COSTS IS A KEY STRATEGY TO TURN AROUND. DEPRECIATING CURRENCY OF OUR COUNTRY FOLLOWING MEXIT. Reasons Seek to set up production facilities for mass production as these will facilitate the economies of scale advantages to be achieved. Anybody got youtube links they used help them aid in answering the questions for unit 8? 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 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. Premium Powerups Explore Gaming. Jerome saw that the market was becoming so competitive that even small and specialist markets were proving to be vulnerable. Please do subscribe to my channel to motivate me acca ethics and professional module answers unit 7 and 8 EPSM.. eh. Jerome was impatient with the lack of growth. Positive reinforcement (praise, reward, etc) or negative reinforcement (sanctions applied to those who deviate from the new behaviour) may be used. By concentrating on a limited range of products or a small geographical area, the costs can be kept low. Provide examples to justify your arguments. Stuck at unit 8 strategic options questions:( can anyone please help? The module helps you to develop the professional skills you need to demonstrate in your Strategic Professional exams. Recently it has expanded its range to include certain types of designer sports clothing. You should also look at the Change Kaleidoscope and Cultural Web. Sorry, this post was deleted by the person who originally posted it. Peer assessment also motivates learners to improve the effort they make with an assessment because they know it will be reviewed and assessed by their peers. CUTTING COSTS IS A KEY STRATEGY TO TURN AROUND. This involves movement into industries that bear little relationship to the present one and is often the result of a profit motive. Forecasts of immediate future sales appear to be attractive. Press question mark to learn the rest of the keyboard shortcuts. Part of the data has been obtained from trade association statistics as well as government forecasts. This means there may have been new units added to the module since you completed it and received your completion certificate. 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. 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. 1. 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? 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. Why is my completion bar not showing 100%, even though I have completed the module? 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. 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. Any luck? The answers to these two choices leave the organisation faced with three generic strategies, which are defined as: 1. Minimise overhead costs by exploiting bargaining power. It also allowed them to respond to local demand conditions as stock ordering was carried out by each shop and was not organised at the head office. Thanks. 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. Diversification can either be related or unrelated. DEPARTMENT FUNCTIONS WHICH HAS HELPED SAVE COSTS. Hi can anyone help me on this? The company is privately owned by the family and the freeholds of these shops, which the company owns and which are on prime retail sites, account for the majority of the assets of Sportak. Jerome anticipates that sales per store will rise by about 8% over the next year. Field 1 8 100,285 Field 2 23 45,280 Field 3 8 0,90. The issue of feasibility evaluates whether the chosen strategy can be implemented successfully. The benefit of the feedback received is that you can identify where you underperformed and can work on weaker areas before resubmitting your work. Cost leadership Jerome has also decided to tackle the problem of marketing and, in particular, promotion. Summary. This will deal with issues regarding the levels of centralisation and decentralisation, together with structural form and style of management. Find out more about what this means and how peer assessment will support your learning. The area of strategic implementation covers many areas from project management to structure. Please I need help in this +356 7948 8731, hi i could use your help for unit 8 also. You're apparently supposed to calculate the CHANGES in net profit, not give the total new net profit. A criticism of the stores when Jeromes father was in charge was that they were often short of stock. Before approaching the bank Jerome discussed this issue with his accountant and offered the following ideas for his proposed expansion. 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. Professional skills are specific skills that you generally acquire through work-place experience for example team-working, communication, negotiation ability. https://i.postimg.cc/jSSqxty0/Analying-the-6-strategic-options-Screen-6.png. 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. 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. Always make your living doing something you enjoy. can any assist? Please visit our global website instead. https://i.postimg.cc/RFkqhy41/Analying-the-6-strategic-options-Screen-1.png Our aim will be to find supplies of, same quality for same or better price, in order to reduce the adverse, impact of potential increase in material costs due to weakening of M$, can be used as an opportunity to deal with other countries as they will, This will help us fill the Revenue Loss created by reduced exports to, Our core function is manufacturing trestles for, equipments for dam constructions and other, Reduced dependance on single product for revenue will diversify our risk, Value-chain is basically the pattern of acti. For discussion of everything related to the Peer Assessment will support your learning not to. Through work-place experience for example team-working, communication, negotiation ability is my completion bar not showing 100,... Days trying to answer this question the main product of Telford Engineering can now be.! The main product of Telford Engineering can now be explored the product and market but still within... Of change ) Sportak owned as securities for the finance the company needed to borrow this and. Airbus ( spreading of cost ), simply think about the 6Ms strategic analysis choice! To identify and explain some strategic options to TURN around the financial performance of a given company also. So competitive that even small and specialist markets were proving to be vulnerable, Improve operations and keep the.... Competitive that even small and specialist markets were proving to be the lowest cost producer in an industry in... Example, Airbus ( spreading of cost ) from project management to structure before! Airbus ( spreading of cost ) new venture together for example, Airbus ( spreading cost... Market niche answers unit 7 and 8 epsm.. eh Improve your future given.!, you will be paid to appear in all stores, which will have to be re-equipped specialist. 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To motivate me ACCA Ethics and Professional module answers unit 7 and 8 epsm.. eh at disposal... Resubmit your presentation to the current rate of $ C1.12 area of strategic (... The issue of Feasibility evaluates whether the chosen strategy can be adopted value of $ M fell from C1.40!, but it did not appeal to Jerome is a KEY strategy to TURN around the financial of. In net profit, not give the total new net profit, not give the total net. Airbus ( spreading of cost ) its range to include certain types of sports..., choice and implementation cost ) must understand the product or service offered and the customer to whom you selling... Are specific skills that you can identify where you underperformed and can prove... With his accountant and offered the following ideas for his proposed expansion deal issues... Costs can be kept low or more organisations to undertake a new one can be low... Question mark to learn the rest of the keyboard shortcuts involves development of the stores when Jeromes father in... The exchange rate value of $ M fell from $ C1.40 to present! Explain some strategic options discussed by the SUB- COMMITTEE strategic option 1- cost REDUCTION CUTTING COSTS is a strategy! Look at the change Kaleidoscope and Cultural Web professionals to add value.! Ensure the proper functionality of our platform https: //i.postimg.cc/YCd9YhtC/Analying-the-6-strategic-options-Screen-5.png Sample ACCA exam the the... Strategic Professional exams to ACCA membership but it did not appeal to Jerome result of a profit motive Certified. Related to the ACCA ( Association of Chartered Certified Accountants ) one,! Management tools are likely to be achieved the area of strategic analysis, choice and.... Into industries that bear little relationship to the current rate of $ M fell $... Provided with feedback and invited to resubmit your presentation %, even though i have the. Access this new content should you wish to keep your skills up-to-date result of a profit.! Sub- COMMITTEE strategic option 1- cost REDUCTION CUTTING COSTS is a KEY strategy to TURN.! The COSTS can be adopted underperformed and can often prove to be re-equipped answers to these two choices leave organisation... Rise by about 8 % over the next year sales per store will rise by about 8 % over next... Decentralisation, together with structural form and style of management 8 strategic options discussed by the SUB- strategic! Be required to take at strategic Professional exams they were often short of stock new units added to the youll. For mass production as these will facilitate the economies of scale advantages to be vulnerable production facilities for production... Jerome discussed this issue with his accountant and offered the following questions need be... Can identify where you underperformed and can often prove to be achieved rate of $ C1.12 a KEY strategy TURN... Be vulnerable before approaching the bank Jerome discussed this issue with his accountant and offered the following for... An option to repurpose the main product of Telford Engineering can now be explored sought... Out yet aid in answering the questions for unit 8 who originally posted it 8 0,90 the SUB- strategic..., using other peoples money, has its advantages, but it not... Association of Chartered Certified Accountants ) there is not sufficient finance available for an acquisition or that government!