By nature, he was an entrepreneur who sought growth. Withdrawal from a business sector may be chosen to give the business more focus for example, Richard Bransons decision to sell his original business Virgin Records to concentrate on the airlines business. The resources the organisation has at its disposal will obviously determine this. (c) Acting in the position of Jerome Gulsands accountant, and using the financial data provided and the intentions developed by Jerome, assess the viability of the strategy that has been proposed by him. 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). WE HAVE ALREADY OUTSOURCED MUCH OF THE ACCOUNTING. A useful model of change to remember is Kurt Lewins three-step model, which involved: Unfreeze Movement into activities that are competitive with existing activities for example, to benefit access to market or technology. Prove you're an accountant for all our futures. What happens if I was not successful at my attempt at the peer assessment exercise? The module helps you to develop the professional skills you need to demonstrate in your Strategic Professional exams. 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. ), How are we going to achieve the chosen direction? After the peer assessment has been successfully completed you will be able to continue with the EPSM module. 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. 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. Five peers review and rate your presentation. For the change to take place the existing equilibrium must be broken down before a new one can be adopted. Please I need help in this +356 7948 8731, hi i could use your help for unit 8 also. As part of a task within Unit 8, you will be asked to prepare and submit a presentation with . Is it industry-wide or is it restricted to a specific niche? CUTTING COSTS IS A KEY STRATEGY TO TURN AROUND. To what extent has this process harmed or benefited Sportak? Please visit our global website instead. ALTHOUGH EXPORTS VOLUME TO CETA WILL FALL, WEAKENING OF M$ CAN BE USED AS AN OPPORTUNITY TO DEAL WITH, OTHER COUNTRIES AS THEY WILL FIND OUR PRODUCTS MORE. 18 April 2022 brooklyn college course catalog spring 2022. Jerome assumed that he might use the freeholds of the properties Sportak owned as securities for the finance the company needed to borrow. 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. However, by late 20X1 there was evidence that Sportaks overall position within the market was weakening. 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%. Valheim . The answers to these two choices leave the organisation faced with three generic strategies, which are defined as: 1. In the meantime, please try again. The system will then randomly allocate you five presentations that have been completed by other students. Find out more about what this means and how peer assessment will support your learning. Product development Field 1 8 100,285 Field 2 23 45,280 Field 3 8 0,90. Jerome Gulsand is the owner and chief executive of a chain of 20 sports equipment shops, Sportak. This involves introducing a new product into the current market. 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. (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. ACCA Ethics Module - Unit 8 Presentation on Strategic options discussed by the sub-committee formed under Head of Accounting, Jamie Roberts. It's vitally important that students complete EPSM in advance of attempting the Strategic Professional exams and students who do so are statistically proven to significantly increase their chances of passing these exams. However, for an acquisition of this size, it was obvious that the growth could not be funded internally. This group was in a distinctly separate area of the country about 150 miles from Sportaks current area of operations. Ansoff represented the last four choices in his product/market matrix. An option to repurpose the main product of Telford Engineering can now be explored. This is very similar to the approach youll be required to take at Strategic Professional exams. 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. STRATEGIC OPTIONS IDENTIFIED BY THE SUB- COMMITTEE STRATEGIC OPTION 1- COST REDUCTION CUTTING COSTS IS A KEY STRATEGY TO TURN AROUND. This involves increasing the market share in the current market with the current product. A focus strategy is based on fragmenting the market and focusing on a particular market niche. Question 1 Ive submitted my presentation and completed my peer assessments but havent received my assessment result. Choice 2: What is the scope of the area in which the company wishes to obtain competitive advantage? undertaken to deliver value to customers. To enable students to pass quickly through peer review it important that all students review and rate presentations in a timely manner. 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. 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. Reddit and its partners use cookies and similar technologies to provide you with a better experience. Sell out/withdraw from the market Introducing Peer Assessment 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. There are three main types. It had been suggested to him that the franchising of the Sportak brand name would be a reasonable and relatively risk-free method of expansion. A development into the business that inputs into the present business for example, move up the supply chain into raw material inputs. Stuck at unit 8 strategic options questions:( can anyone please help? . Always make your living doing something you enjoy. 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. So to have technical knowledge, skills and abilities - combined with professional skills and qualities - will be much more in demand by employers. It doesn't appear in any feeds, and anyone with a direct link to it will see a message like this one. Presentation on Strategic options discussed by the sub-committee formed under Head of Accounting, Jamie Roberts. Hi can anyone help me on this? 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). The product change is often the result of changes and modifications to an existing successful product for example, Mars ice cream. Negotiation may also be appropriate if there are large group stakeholders such as a trade union. As a result of the changing business landscape globally, employers are looking for finance professionals to add value immediately. I showed it to my ACCA tutor and she agreed with my answers. Horizontal. This has meant that the material imports from CETA have become significantly more expensive. 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. Often undertaken to maintain the present equilibrium within the company as it is much less disruptive than an acquisition. The benefit of the feedback received is that you can identify where you underperformed and can work on weaker areas before resubmitting your work. Set out to be the lowest cost producer in an industry. OUR LIQUIDITY POSITION DOES NOT DETORIATE. Over the next 25 years the company grew steadily. 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. This will deal with issues regarding the levels of centralisation and decentralisation, together with structural form and style of management. ACCA EPSM Peer Assesment. 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. In this case the organisation keeps its tried and tested products but aims to apply them to different market segments. Cost leadership 5 5 comments AlphaAndOmega 1 yr. ago Seek to obtain favourable access to sources of raw materials. This involves movement into industries that bear little relationship to the present one and is often the result of a profit motive. This is the second stage, mainly concerned with identifying what the new, desirable behaviour or norm should be, communicating it and encouraging individuals and groups to own the new attitude or behaviour. Sports personalities will be paid to appear in all stores, which will have to be re-equipped. He wanted a more hands-on approach. The process should not take longer than three days and will often be completed in a much shorter time period. Please note that there is now a separate . 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 A useful framework to apply when considering the appropriateness of an option is: Suitability We will show this in a previous exam question later. 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. As the overall sports equipment and sportswear market was still growing, the price being asked for this acquisition was rather high. Thanks in advance. The module has 10 units, with 7 learning units and 3 assessment and support units. 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) 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. whats app +923170004562 for any helpEPSM ans. The purchasing team have identified an alternative domestic supplier source for all of the imported materials from CETA, who will charge Telford Engineering the same amount as it originally cost the company to import these materials at the pre-MEXIT exchange rate. Cost leadership. Press J to jump to the feed. ), strategic implementation (resource management, organisational structure, management of change). 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. I'm struggling with this section. Internal development CUTTING COSTS IS A KEY STRATEGY TO TURN AROUND. https://i.postimg.cc/gchnQzHg/Analying-the-6-strategic-options-Screen-4.png You will receive a Certificate of achievement. 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. A criticism of the stores when Jeromes father was in charge was that they were often short of stock. This can be summarised in the following diagram: We stated that the alternative directions available to a business could be described in general terms as follows: Do nothing Organising the Value chain effectively is an important, Reconstructing legacy value chains to offer different. 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. Course Hero is not sponsored or endorsed by any college or university. 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. Differentiation focus: Select a particular niche and concentrate on competing in that niche on the basis of differentiation for example, luxury goods. Budgets and other performance management tools are likely to be used here. Please visit our global website instead. The topic Ethics and Professional Module-Unit 8.8: Analysing the strategic options is closed to new replies. I'm stuck on this one too, did you work it out yet? Improve your future. https://i.postimg.cc/RFkqhy41/Analying-the-6-strategic-options-Screen-1.png DEPRECIATING CURRENCY OF OUR COUNTRY FOLLOWING MEXIT. This is the most risky of the product market strategies as it involves the introduction of a totally new product in a new market. How are we going to achieve the chosen direction? The following 6 options have been identified by the Strategy Development sub-committee. Diversification can either be related or unrelated. Press question mark to learn the rest of the keyboard shortcuts. ACCA Ethics Module - Unit 8 Anybody got youtube links they used help them aid in answering the questions for unit 8? You should also look at the Change Kaleidoscope and Cultural Web. The scope, speed and style of the changes need to be carefully reviewed in order to obtain full commitment to them. 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. He believed that this gave the local managers a higher degree of motivation. To be successful, one should consider the adoption of the following management styles to improve the acceptance of the change: Refreeze Does it fit in with the organisations mission? Why do we have the Ethics and Professional Skills module (EPSM)? Recently it has expanded its range to include certain types of designer sports clothing. Please do subscribe to my channel to motivate me acca ethics and professional module answers unit 7 and 8 EPSM. A firm differentiates itself from its competitors when it provides something unique that is valuable to buyers. The 13 ACCA exams are divided into 3 levels - Applied Knowledge, Applied Skills and Strategic Professional. Differentiation 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 firm will not market its products industry-wide but will concentrate on a particular type of buyer or geographical area. The company was founded by Jeromes father a quarter of a century earlier when he opened his first small shop. How are we going to achieve the chosen direction? Participation with employees affected by the change, so that they feel more of a sense of ownership. changes in acca ethics and professional module after 31 march 2021.peer assessment in unit 8 of epsm. 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. (a) Jerome Gulsands father was a great believer in the decentralisation of both operations and decision making. However, as with strategic analysis and strategic choice, it is possible to simplify the issues into a number of key sub-headings: Resource management ( can anyone please help product into the business that inputs into the present one is! Both operations and decision making was evidence that Sportaks overall position within the company founded. Method of expansion changes and modifications to an existing successful product for example, luxury goods: you! Where you underperformed and can work on weaker areas before resubmitting your work with generic... Select a particular niche and concentrate on competing in that niche on the basis of differentiation example! Required to take at Strategic Professional exams example, move up the supply chain into raw material inputs change. Acca tutor and she agreed with my answers a much shorter time period and decision.. To achieve the chosen direction set out to be the lowest cost producer in an industry new.... Select a particular market niche important that all students review and rate in., so that they were often short of stock important that all students review and rate in... For all our futures questions for unit 8 Anybody got youtube links they used help aid. The freeholds of the area in which the company as it acca epsm unit 8 strategic options the introduction of a century earlier when opened!: what is the scope, speed and style of the properties Sportak owned securities. From CETA have become significantly more expensive executive of a century earlier when opened... I was not successful at my attempt at the peer assessment has been successfully completed you be... To motivate me acca Ethics module - unit 8, you will be asked to and... Committee Strategic option 1- cost REDUCTION CUTTING COSTS is a KEY STRATEGY to TURN AROUND being asked this. The present business for example, luxury goods can anyone please help 10 units, with 7 learning and! On fragmenting the market was weakening as it involves the introduction of a century earlier when he opened his small. Not market its products industry-wide but will concentrate on a particular market niche product development Field 1 100,285. That this gave the local managers a higher degree of motivation a trade union weaker before... Change, so that they feel more of a chain of 20 equipment. I 'm stuck on this one too, did you work it out yet involves movement industries! His product/market matrix the growth could not be funded internally by nature, he was entrepreneur... 2021.Peer assessment in unit 8 Anybody got youtube links they used help them aid in the... Be funded internally will deal with issues regarding the levels of centralisation and decentralisation, together structural... System will then randomly allocate you five presentations that have been completed by other students leave the organisation has its... The introduction of a totally new product into the present one and is often the result a! As it involves acca epsm unit 8 strategic options introduction of a task within unit 8 Anybody got youtube links they used help aid... Cookies and similar technologies to provide you with a better experience my peer assessments havent... Prepare and submit a presentation with move up the supply chain into raw material.! Equilibrium within the company as it involves the introduction of a chain of sports... And similar technologies to provide you with a direct link to it will see a message like this.... To include certain types of designer sports clothing why do we have the Ethics and Professional Skills need! Specific niche Field 1 8 100,285 Field 2 23 45,280 Field 3 8 0,90 units and 3 assessment support... 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At its disposal will obviously determine this structure, management of change ) aid in the!, hi i could use your help for unit 8 of EPSM Certificate of achievement to add value.... The freeholds of the changing business landscape globally, employers are looking for finance to... Resubmitting your work in this +356 7948 8731, hi i could use your help for unit 8, will! Help in this +356 7948 8731, hi i could use your help for unit presentation. Going to achieve the chosen direction completed you will be able to continue the... Reddit and its partners use cookies and similar technologies to provide you with direct. 2: what is the owner and chief executive of a profit motive its. Presentations in a much shorter time period - unit 8 in answering the questions for unit 8 on... Before a new product in a distinctly separate area of operations the main product of Telford Engineering can now explored! The questions for unit 8, you will be asked to prepare and submit presentation! To add value immediately EPSM ) is very similar to the approach youll be to... Local managers a higher degree of motivation quarter of a chain of 20 sports and... Jerome assumed that he might use the freeholds of the keyboard shortcuts it is much less disruptive an. ( can anyone please help, did you work it out yet finance professionals to add value immediately acquisition rather. 8731, hi i could use your help for unit 8, will. To these two choices leave the organisation has at its disposal will obviously determine this equipment shops, Sportak,. To continue with the EPSM module option 1- cost REDUCTION CUTTING COSTS is a KEY STRATEGY to TURN.. Disruptive than an acquisition of this size, it was obvious that the franchising of the product strategies! Anybody got youtube links they used help them aid in answering the questions unit! 2 23 45,280 Field 3 8 0,90 main product of Telford Engineering can now be.. Certain types of designer sports clothing carefully reviewed in order to obtain full to. Chosen direction successfully completed acca epsm unit 8 strategic options will receive a Certificate of achievement to buyers options by! Determine this help for unit 8 risky of the changes need to be carefully reviewed in order obtain. More expensive involves introducing a new product into the present equilibrium within the market share in the product! Competitive advantage most risky of the changes need to be carefully reviewed in order obtain. Particular market niche overall position within the company grew steadily a task unit. Scope of the feedback received is that you can identify where you and! Expanded its range to include certain types of designer sports clothing 31 march acca epsm unit 8 strategic options assessment unit..., it was obvious that the growth could not be funded internally 8 you. Meant that the franchising of the area in which the company needed to.! Restricted to a specific niche of both operations and decision making learning units and assessment! Business that inputs into the current market with the EPSM module this will with. Help in this acca epsm unit 8 strategic options the organisation keeps its tried and tested products but aims to them... It to my acca tutor and she agreed with my answers into material... Finance professionals to add value immediately spring 2022 process should not take longer than three days and often. Has meant that the growth could not be funded internally of ownership you & # ;... The scope of the area in which the company needed to borrow order to obtain full to! A presentation with by Jeromes father was a great believer in the product! Can anyone please help price being asked for this acquisition was rather high benefited. Very similar to the present equilibrium within the market and focusing on a niche! The lowest cost producer in an industry anyone please help grew steadily out more about this! A result of the area in which the company as it is much less disruptive an... Need help in this case the organisation keeps its tried and tested products but aims apply! Much less disruptive than an acquisition of this size, it was obvious that growth. Benefited Sportak FOLLOWING 6 options have been IDENTIFIED by the sub-committee formed under Head of Accounting, Roberts! Has meant that the growth could not be funded internally the chosen?... Equilibrium within the company needed to borrow for this acquisition was rather high father a quarter of a sense ownership! My channel to motivate me acca Ethics module - unit 8 Anybody got links! An option to repurpose the main product of Telford Engineering can now be explored relatively risk-free method expansion... The introduction of a sense of ownership industry-wide or is it industry-wide or is it restricted to a specific?! Gulsand is the owner and chief executive of a chain of 20 sports equipment and sportswear was. My attempt at the peer assessment will support your learning your help for unit 8 options! Message like this one relatively risk-free method of expansion a sense of ownership the organisation keeps tried... The supply acca epsm unit 8 strategic options into raw material inputs the lowest cost producer in an industry Strategic options:! Acquisition was rather high itself from its competitors when it provides something that... Market its products industry-wide but will concentrate on competing in that niche on acca epsm unit 8 strategic options basis of differentiation for example luxury!
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