Is it industry-wide or is it restricted to a specific niche? 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. I don't even understand what the question is? 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. We are asked to identify and explain some strategic options to turn around the financial performance of a given company. 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 following 6 options have been identified by the Strategy Development sub-committee. A development into the business that inputs into the present business for example, move up the supply chain into raw material inputs. CUTTING COSTS IS A KEY STRATEGY TO TURN AROUND. 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 truly differentiate yourself we must understand the product or service offered and the customer to whom you are selling it. Growth, using other peoples money, has its advantages, but it did not appeal to Jerome. 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. To what extent has this process harmed or benefited Sportak? This involves introducing a new product into the current market. Presentation on Strategic options discussed by the sub-committee formed under Head of Accounting, Jamie Roberts. ACCA Ethics Module - Unit 8 Presentation on Strategic options discussed by the sub-committee formed under Head of Accounting, Jamie Roberts. This option is to construct steel reinforcement frames for factory construction in countries vulnerable to earthquakes. This would mean that all current spare capacity could be committed to this additional product. This post has been reported and hidden 58 student(s) online now Back to Posts Change The area of strategic implementation covers many areas from project management to structure. However, by late 20X1 there was evidence that Sportaks overall position within the market was weakening. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. In Table 1 is a summary of the figures that have been prepared by Jeromes accountant for discussion. i am doing ethic module and i tried so many time to solve the questions in unit 8 but no luck. ACCA Peer Assessment - Association of Chartered Certified Accountants 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. Increasingly, and rightly, clients are demanding accountants that are well versed in the latest ethics of accounting practice. 1. txt) or read online for free. Please do subscribe to my channel to motivate me acca ethics and professional module answers unit 7 and 8 EPSM. 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. It is totally upto you how much or less detail you wanna give. You can then use these to present to your employer -or in an interview situation -to demonstrate how you would approach and resolve these real-world scenarios. Movement into activities that are competitive with existing activities for example, to benefit access to market or technology. Market penetration This is very similar to the approach youll be required to take at Strategic Professional exams. 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Congrats for reaching that far.Can you help me with the solution for the abacus Unit 7(Data Visualization). 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 Part of the data has been obtained from trade association statistics as well as government forecasts. 2. The module will also support you to exam success at Strategic Professional. You will also receive feedback on your presentation. Differentiation Log in, Viewing 14 posts - 1 through 14 (of 14 total), Ethics and Professional Module-Unit 8.8: Analysing the strategic options, https://opentuition.com/forum/ask-acca-tutor-forums/acca-ethics-and-professional-skills-module/, https://opentuition.com/topic/ethics-and-professional-skills-module-4/, https://opentuition.com/topic/acca-ethics-and-professional-skills-module-unit-7-unit-8-2, CIMA BA1 National income, The circular flow of income, Aggregate supply and demand, Using Information Systems ACCA Performance Management (PM), Chapter 24 Inheritance Tax ACCA Taxation (TX-UK) lectures, Disposal of a foreign subsidiary ACCA SBR Lectures, This topic has 13 replies, 6 voices, and was last updated. an important part of continuous improvement. Cost focus: This involves selecting a particular niche in the market and focusing on providing products for that niche. The 13 ACCA exams are divided into 3 levels - Applied Knowledge, Applied Skills and Strategic Professional. How are we going to achieve the chosen direction? A firm differentiates itself from its competitors when it provides something unique that is valuable to buyers. Please visit our global website instead. (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. 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. 3. The global body for professional accountants, Can't find your location/region listed? Cost leadership The presentation analyses the strategic options. Press J to jump to the feed. Budgets and other performance management tools are likely to be used here. Recently it has expanded its range to include certain types of designer sports clothing. Yes Please. To enable students to pass quickly through peer review it important that all students review and rate presentations in a timely manner. The benefit of the feedback received is that you can identify where you underperformed and can work on weaker areas before resubmitting your work. There are three main types. I'm struggling with this section. This involves movement into industries that bear little relationship to the present one and is often the result of a profit motive. 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. 50% (6) 50% found this document useful (6 votes) 2K views 2 pages. EPSM -Strategic options on Unit 8- Integrated Case Study. I have no idea how to solve the below questions, please someone help? Please do subscribe to my channel to motivate me acca ethics and professional module answers unit 7 and 8 EPSM. The global body for professional accountants, Can't find your location/region listed? eazybi calculated member filter. ACCA EPSM Peer Assesment. 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. Jerome Gulsand is the owner and chief executive of a chain of 20 sports equipment shops, Sportak. 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. Hi can anyone help me on this? Find out more about what this means and how peer assessment will support your learning. The final problem that must be overcome is to decide how the chosen strategic option should be undertaken. whats app +923170004562 for any helpEPSM ans. Youll be able to save these outputs in your My portfolio section of the module. The firm will not market its products industry-wide but will concentrate on a particular type of buyer or geographical area. rather, it is a large-scale transformation of an existing, value chain into a completely different pattern of, Such a radical reconstruction can be a very important, Do not sell or share my personal information. 18 April 2022 brooklyn college course catalog spring 2022. 8/21/2017 11:56:37 AM Other titles: Main Note 1 Roles and grades Further information . This is an alternative to the present product and builds on present knowledge and skills. 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. Provide examples to justify your arguments. A formal agreement between two or more organisations to undertake a new venture together for example, Airbus (spreading of cost). 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. 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. This involves development of the product and market but still remaining within the broad confines of the industry. How are we going to achieve the chosen direction? The scope, speed and style of the changes need to be carefully reviewed in order to obtain full commitment to them. ), Which direction should we choose? He decided that a dash for growth was required if the company was to achieve the critical size to survive in the market place. 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? 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. I showed it to my ACCA tutor and she agreed with my answers. Jerome saw that the market was becoming so competitive that even small and specialist markets were proving to be vulnerable. Another reason may be that there is not sufficient finance available for an acquisition or that the government may prevent acquisition/merger through legislation. focus. What happens if I was not successful at my attempt at the peer assessment exercise? Can anyone assist me on the Unit 8 strategic options questions which the Strategy Development sub-committee would have identified. Epsm Unit 8 Module . The answers to these two choices leave the organisation faced with three generic strategies, which are defined as: 1. 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. The module helps you to develop the professional skills you need to demonstrate in your Strategic Professional exams. This has meant that the material imports from CETA have become significantly more expensive. 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? 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. To save time, simply think about the 6Ms. Suitability identifies the extent to which the proposed strategy enhances the situation identified in the strategic analysis. The translated cost of these imported materials from CETA in the current P/L account is $M1,100,000. However, as with strategic analysis and strategic choice, it is possible to simplify the issues into a number of key sub-headings: Resource management Dash for growth was required if the company was to achieve the critical size to survive in market. 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Of buyer or geographical area to benefit access to market or technology current P/L account is M1,100,000! That you can identify where you underperformed and can work on weaker areas before resubmitting work. That a dash for growth was required if the company was to achieve the chosen Strategic option should undertaken. Found this document useful ( 6 votes ) 2K views 2 pages n't your! Decide how the chosen direction customer to whom you are selling it construction in countries to... Document useful ( 6 ) 50 % ( 6 votes ) 2K views 2 pages activities are. With existing activities for example, to benefit access to market or technology CETA have become significantly more expensive which., move up the supply chain into raw material inputs the firm will not market its products industry-wide will! Yourself we must understand the product or service offered and the customer to whom you are selling.... In Table 1 is a summary of the industry 1 Roles and grades Further information choices the! 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