acca test book Strategic Business Planning and Development pot

PAGE 3

AIM

To ensure that candidates can exercise

judgement and technique in strategic

business management to enable them to

contribute to the formulation of business

strategy, the development of products and

services and the maintenance of quality

throughout the organisation.

OBJECTIVES

On completion of this paper candidates

should be able to:

• identify and apply the principal

concepts and ideas in the theory and

practice of strategic management

• understand the internal and external

factors affecting an organisation and

apply this knowledge to evaluate its

strategic position

• identify appropriate strategies based on

the evaluation of the organisation’s

objectives and position

• identify the appropriate methods of

implementing chosen strategies and

evaluate their impact on organisational

structures and operations

• understand the impact of globalisation

on strategic business planning

• integrate knowledge effectively and use

it creatively in applying concepts and

techniques

• analyse, interpret and apply data and

information and present reasoned

conclusions

Paper 3.5

Strategic Business Planning

and Development

• communicate analyses and conclusions

effectively and with sensitivity for different

purposes and contrasting audiences with

due emphasis on social expectations.

POSITION OF THE PAPER IN THE

OVERALL SYLLABUS

Candidates should have a sound

understanding of Paper 1.1 Preparing

Financial Statements and 1.2 Financial

Information for Management, Paper 1.3

Managing People and Paper 2.1 Information

Systems. The information in these papers

will provide some of the basic material for

strategy analysis and development.

Paper 3.5 builds upon the knowledge

obtained in Paper 1.3 by

• reinforcing the importance of

recruitment and selection processes and

procedures

• examining the importance of training

and development and motivation within

a strategic context

• providing a more strategic view of

human resource issues

• extending the coverage of work

organisations.

Paper 3.5 develops parts of the knowledge

gained in Paper 1.1 and 1.2 by

• applying and interpreting financial

information for strategy evaluation and

strategy recommendation

• giving more emphasis on pricing

policies and procedures

• examining performance measurement

criteria.

Paper 3.5 develops parts of the knowledge

obtained in Paper 2.1 by

• reinforcing the knowledge of managing

information systems at a strategic level.

Although much of the knowledge gained in

Part 3 will be specific to the individual

papers, Paper 3.5 will, by its very nature,

provide integration with most of the other

papers at this level.

In Paper 3.1 Audit and Assurance Services

there will be links with professional and

ethical considerations.

In Paper 3.3 Performance Management

there will be strong relationships with areas

on performance measurement and

decision-making.

In Paper 3.4 Business Information

Management there will be related material

on information resource management and

information systems and competition.

In Paper 3.7 Strategic Financial Management

there will be relationships with objectives and

corporate governance, strategy formulation

and the global economic environment.