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. What happens if I was not successful at my attempt at the peer assessment exercise? 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? Jerome saw that the market was becoming so competitive that even small and specialist markets were proving to be vulnerable. These shops are clustered in the south of the country. Look to hedge their transactions with acca epsm unit 8 strategic options suppliers are demanding accountants that are well versed in the two slides the! Jerome has also decided to tackle the problem of marketing and, in particular, promotion. 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. This would mean that all current spare capacity could be committed to this additional product. So to have technical knowledge, skills and abilities - combined with professional skills and qualities - will be much more in demand by employers. However, you will be able access this new content should you wish to keep your skills up-to-date. These people have enjoyed substantial autonomy, and although they will still have some freedom on the stock range that they offer, they might increasingly see their freedom to act as managers being eroded. As part of a task within Unit 8, you will be asked to prepare and submit a presentation with . 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. We are asked to identify and explain some strategic options to turn around the financial performance of a given company. A development into activities concerned with a companys outputs also called downstream integration for example, move down the supply chain into distribution activities. https://i.postimg.cc/jSSqxty0/Analying-the-6-strategic-options-Screen-6.png. . Please visit our global website instead. Why is my completion bar not showing 100%, even though I have completed the module? ), How are we going to achieve the chosen direction? Recently it has expanded its range to include certain types of designer sports clothing. Is it industry-wide or is it restricted to a specific niche? DEPARTMENT FUNCTIONS WHICH HAS HELPED SAVE COSTS. About Press Copyright Contact us Creators Advertise Developers Terms Privacy Policy & Safety How YouTube works Test new features NFL Sunday Ticket Press Copyright . Change 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. 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). 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. . 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. Set out to be the lowest cost producer in an industry. Acceptability ), strategic implementation (resource management, organisational structure, management of change). https://i.postimg.cc/YCd9YhtC/Analying-the-6-strategic-options-Screen-5.png ACCA Ethics Module - Unit 8 Presentation on Strategic options discussed by the sub-committee formed under Head of Accounting, Jamie Roberts. 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. By a competent use of merchandising, it is hoped that these stores will increasingly be recognised as centres for influencing the fashion of both sports equipment and clothing. 2. Please visit our global website instead, Can't find your location listed? This involves following the current strategy while events around change and can often prove to be a successful short-term strategy. (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 Market share can be enhanced by such techniques as improved quality, productivity or increased marketing activity. However, by late 20X1 there was evidence that Sportaks overall position within the market was weakening. (b) Evaluate the key features that you consider to be important and would expect to see in the business plan that Jerome Gulsand would have to present to his bank to support his application for financial assistance. The module has 10 units, with 7 learning units and 3 assessment and support units. EPSM is an essential step to ACCA membership but it is also a crucial support tool for the Strategic Professional exams. Unit 8 Strategic Options Presentation PDF. Please do subscribe to my channel to motivate me acca ethics and professional module answers unit 7 and 8 EPSM.. eh. Uploaded By Ratings 83% (6) This preview shows page 1 - 2 out of pages. Michael Porter stated that a firm that is wishing to obtain competitive advantage over its rivals is faced with two choices: Choice 1: Is the company seeking to compete by achieving lower costs than its rivals achieve and by charging similar prices for the products and services that it offers, thereby achieving advantage via superior profitability? I'm trying to do this now and I'm stuck here. This involves increasing the market share in the current market with the current product. For more information on the syllabus and structure read our EPSM syllabus guide. As the overall sports equipment and sportswear market was still growing, the price being asked for this acquisition was rather high. Management of change It was at this time that Jerome took over the company from his father. We will show this in a previous exam question later. (Telford Engineering), 57% found this document useful (30 votes), 57% found this document useful, Mark this document as useful, 43% found this document not useful, Mark this document as not useful, Save Unit 8 Strategic Options Presentation PDF For Later, We have already outsourced much of the Accou, Alternative Source for all material imported from CETA can be found, maybe from a major domestic supplier. You will be asked to prepare and upload your presentation to the Peer Assessment Point in Unit 8, section 8. The global body for professional accountants, Can't find your location/region listed? Anybody got youtube links they used help them aid in answering the questions for unit 8? Organisational structure The company was founded by Jeromes father a quarter of a century earlier when he opened his first small shop. (Porters generic strategies. 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. Once all the alternative options have been generated we need to evaluate their appropriateness before making a choice. 3. All you need to remember is the key steps of strategic analysis, choice and implementation. The following 6 options have been identified by the Strategy Development sub-committee. A useful framework to apply when considering the appropriateness of an option is: Suitability In order to complete peer assessment three things need to happen: 2. Part (d) again would have been easily answered if you approach your studies in a logical way as suggested earlier. It is totally upto you how much or less detail you wanna give. 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) Unit 8 Strategic Options Presentation PDF. 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. Diversification CUTTING COSTS IS A KEY STRATEGY TO TURN AROUND. There is a one off cost for the module, with no resit fees. 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. Part of the data has been obtained from trade association statistics as well as government forecasts. By concentrating on a limited range of products or a small geographical area, the costs can be kept low. OUR LIQUIDITY POSITION DOES NOT DETORIATE. please help. Most customers were unwilling to wait for the product to be ordered and they therefore bought from competitors shops. Ansoff represented the last four choices in his product/market matrix. 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. 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. EPSM -Strategic options on Unit 8- Integrated Case Study. Set out to be the lowest cost producer in an industry. (Use the internal, external or joint venture model for inspiration). OUR LIQUIDITY POSITION DOES NOT DETORIATE. This is the most risky of the product market strategies as it involves the introduction of a totally new product in a new market. ACCA Ethics Module - Unit 8 Forward. 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. Increasingly, and rightly, clients are demanding accountants that are well versed in the latest ethics of accounting practice. I am struggling with Telford Engineering questions, i can get Q3 and Q4any help with the rest will be much appreciated. Does it build on identified strengths and exploit opportunities? Peer assessment improves the knowledge and skills of learners since they benefit from seeing others work and also get feedback on their own work. This will ensure that the 6Ms are working for you in the best way possible. SWOT analysis is a planning methodology that helps organizations build a strategic plan to meet goals, improve operations and keep the business . Course Hero is not sponsored or endorsed by any college or university. Correlation ID: e096d2c1-ecdc-413b-9b3f-19b96520d559. You will receive a Certificate of achievement. The EPSM helps you develop these practical real-world skills so you can make an impact from day one in organisations. Forecasts of immediate future sales appear to be attractive. Backward. A criticism of the stores when Jeromes father was in charge was that they were often short of stock. Above all, Jerome wishes to see his company, Sportak, become a national company, no longer having to operate as a regional retailer does. 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. #NEW TO ACCA June 9th 2020 AN ACCA USER Retagged June 9th 2020 Login to answer This is very similar to the approach youll be required to take at Strategic Professional exams. Diversification can either be related or unrelated. ACCA Peer Assessment - Association of Chartered Certified Accountants 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. Should this be the case your completion bar may fall below 100%, but this does not impact impact your completion status and it is not compulsory for you to complete any new content added to the module. The topic Ethics and Professional Module-Unit 8.8: Analysing the strategic options is closed to new replies. Cost leadership Hi can anyone help me on this? Growth, using other peoples money, has its advantages, but it did not appeal to Jerome. Internal development Introducing Peer Assessment 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). Please do subscribe to my channel to motivate me acca ethics and professional module answers unit 7 and 8 EPSM. Ive submitted my presentation and completed my peer assessments but havent received my assessment result. undertaken to deliver value to customers. He decided that a dash for growth was required if the company was to achieve the critical size to survive in the market place. Professional skills are specific skills that you generally acquire through work-place experience for example team-working, communication, negotiation ability. As a result of the changing business landscape globally, employers are looking for finance professionals to add value immediately. Part 1 considered the complexities of strategic planning and how they can be broken down into three main areas. 18 April 2022 brooklyn college course catalog spring 2022. He believed that this gave the local managers a higher degree of motivation. Please note that there is now a separate . This would cost $240,000 in additional development costs to convert and create spare capacity, but will open a completely new higher value market for Telford Engineering, increasing the current sales value by 20%. Question 1 The product change is often the result of changes and modifications to an existing successful product for example, Mars ice cream. The managers were also permitted to develop local marketing activities, using sales promotions and publicity as they felt appropriate. The proposal is to start producing booms or jibs for large crane manufacturers. Another reason may be that there is not sufficient finance available for an acquisition or that the government may prevent acquisition/merger through legislation. 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. An option to repurpose the main product of Telford Engineering can now be explored. Thanks in advance. I showed it to my ACCA tutor and she agreed with my answers. kwik trip leadership team condos for rent in, ! Sales had stabilised but, even more importantly, competition was growing from a number of discount traders who were prepared to operate on low profit margins but with larger volumes. Horizontal. 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. Has anyone completed it? What are professional skills and why are these important? Yes Please. After MEXIT the exchange rate value of $M fell from $C1.40 to the current rate of $C1.12. . 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. In this case the organisation keeps its tried and tested products but aims to apply them to different market segments. Positive reinforcement (praise, reward, etc) or negative reinforcement (sanctions applied to those who deviate from the new behaviour) may be used. Yes Please. Sell out/withdraw from the market 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. The module helps you to develop the professional skills you need to demonstrate in your Strategic Professional exams. Need to remember is the key steps of strategic planning and how they can be low! All the alternative options have been identified by the strategy development sub-committee develop... Professionals to add value immediately assessment result would have been generated we need to demonstrate in your professional. 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Father a quarter of a given company please visit our global website,! Your skills up-to-date market with the rest will be asked to identify and some. He decided that a dash for growth was required if the company to... Real-World skills so you can make an impact from day one in organisations COSTS is a off! Clients are demanding accountants that are well versed in the market place questions Unit.