PD2_Corporate and Business Stratergy_Questions and Answers

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PD2_Corporate and Business Stratergy_Questions and Answers

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Business Strategy Notes

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Pd1 May16 External Pm

(6) CIPS PD2 Examination May

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S PD2 - Corporate and business N strategy O I T S E UQUESTIO EXAM EXEMPLAR Q E Level 6 Professional Diploma in Procurement and Supply

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QUESTIONS AND MARKING SCHEME Q1

Learning outcome: 1.0 Using academic principles and examples to illustrate your answer, assess the concepts of: (a)

Strategy

(b)

Strategic planning

(c)

Strategy development.

Marking scheme

(a)

Strategy

S N O I T S E U Q E L

Candidates could aempt a broad denion here along the lines of strategy being and scope of an organisaon over the long-term, which achieves advantage for the o through its conguraon of resources within a challenging environment, to meet the markets and to full stakeholder expectaons. There are a number of dierent denions of “strategy” and candidates may wish those of Grant, Ohmae, Johnson & Scholes and Mintzberg among others.

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(b)

Strategic planning

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Every organisaon or unit (candidates could use a purchasing example) occasional Download With Free Trial make some momentous decisions; the sort of decisions that aect the enre desny organisaon for years into the future. These decisions are designed to address the re and most important issues facing an organisaon. Strategic planning, therefore, mus something about big decisions indicang some form of deliberate acon, therefore a of Johnson & Scholes raonal planning model of analysis, choice and implementao  order. Read Free For 30 Days


(c)

Strategy development

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Candidates must demonstrate a robust understanding of the academic principles and their applicaon in relaon to strategy (9 marks), strategic planning (8 marks) and strategy deve marks)

Stronger responses could go further in all three elements assessing areas such as strategy, planning or strategy development being key at dierent levels of a business with all three e several levels in any organisaon; ranging from the overall business (or group of businesse to individuals working in it.


In any three elements of responses marks could be awarded therefore for menon of:

Corporate Strategy - is concerned with the overall purpose and scope of the business to m stakeholder expectaons. This is a crucial level since it is heavily inuenced by investors in business and acts to guide strategic decision-making throughout the business. Corporate s oen stated explicitly in a “mission statement”.

Business Unit Strategy - is concerned more with how a business competes successfully in market. It concerns strategic decisions about choice of products, meeng needs of custom advantage over competors and exploing or creang new opportunies etc.

Operaonal Strategy - is concerned with how each part of the business is organised to del corporate and business-unit level strategic direcon. Operaonal strategy therefore focuse of resources, processes and people etc. The command word is assess so evidence of valid further reading will be rewarded.

You're Reading a Preview CIPS study guide reference: Chapter 1, secon 1 - page 2 onwards, Unlock full access with a free trial. Chapter 3 secon 3 and 4 Download With Free Trial



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Learning outcome: 2.0 (a)

Using the ve forces framework, evaluate a compeve environment of your choice

(b)

Review the limitaons of using the ve forces framework.

Marking scheme (a)


Candidates are required to evaluate, therefore an opinion based on judgement is merely a précis of the model.

Porter’s Five Forces framework is a means of analysing an organisaon’s compeve environment. The ve forces are: competors jockeying for posion; the power of bu the power of suppliers; the threat of new entrants; and the threat of substute prod intensity of each force is determined by the nature and development stage of the ma relave numbers of buyers, suppliers and competors, and the barriers to entry and that exist.

Rather than just describing the model, the answer should be related to applying it to chosen organisaon and evaluang its compeve environment. Concepts such as backward integraon (buyer power), high capital investment (barri entry), forward integraon (supplier power) and aggressive pricing (potenal new en could all be relevant and rewarded. You're Reading a Preview The model can be relevant to both the public and private sectors and an evaluaon Unlock full access with a free trial. applicable.

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(b)

Porter’s model also has been cricised for its lack of consideraon, regarding the uni resources and capabilies that a rm brings to the industry. Thus, it has generally bee that the model is a framework which should be used with the Resources and Capabi model or another, similar analysis. Addionally, Porter admied in his book that the of governmental regulaon in the market aects the models’ reliability; and the pres Read Free Foron 30this Days Sign up to vote title increased globalisaon and technology may have signicantly altered the dynamics o  Useful Not useful   growth and compeon since the model’s incepon in 1979. Cancel anytime.


In spite of crics and limitaons however Porter’s Five Forces model connues to

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In either of the two elements of the queson stronger answers could review or evaluate further and marks will be awarded for wider comment such as the power of Porter’s ve fo from industry to industry. Whatever be the industry, these ve forces inuence the prota they aect the prices, the costs, and the capital investment essenal for survival and comp in industry. This is parcularly important to the supply chain and elements within it. The model also help in making strategic decisions as it is used by the managers to determine in compeve structure.


Specic addional comment for part (b) could include the fact that Porter ignored a sixth s factor- complementaries. This term refers to the reliance that develops between the comp whose products work is in combinaon with each other. Strong complementors might hav posive eect on the industry. Also, the ve forces model overlooks the role of innovaon the signicance of individual rm dierences. It presents a stagnant view of compeon a in the main answer scheme. CIPS Study guide reference: Chapter 4 , secon 3, page 59 onwards

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Learning outcome: 3.0 (a)

Analyse what is meant by the term ‘strategic dri.’

(b)

Appraise how eecve change management can address strategic dri.

Marking scheme (a)


Candidates could start this queson with an overview.

Strategic dri is the situaon where successive strategies fail to address the strategic the organisaon and performance gradually deteriorates. There are a number of reasons for strategic dri: changes in the environment are gre the incremental changes in the organisaon’s strategy; reacng to changes in the en rather than innovang in a proacve way; the cultural paradigm of the organisaon r the ability of the organisaon to change at the rate or to the extant which is necessa strategic change, oen of a transformaonal nature, is the means of overcoming this dri. Candidates should provide a broad denion and give a fairly in depth analysis of thi strategic term.

(b)

In terms of change management and strategic dri, there are a number of dierent could be appraised (meaning: a minimum of strengths and weaknesses) These could types of change (transformaonal or incremental, managed or imposed); implement You're Reading a Preview issues (strategy, structure, systems, sta, skills and shared values); restraining and fac Unlock full access with a free trial. forces; change management techniques (communicaon, educaon, collaboraon, e involvement, direcon or coercion); change roles; change agents; cultural issues; m management support; reinforcement, monitoring Download With Free and Trialreview.

Candidates should demonstrate a robust understanding of the ‘hard’ and ‘so’ aspec eecve change management but other equally valid methods to appraise change m will be rewarded providing it is directly linked to strategic dri.

Master your semester with Scribd  Read Free Foron 30this Days Sign up to vote title  any of the secons stronger responses could include operaon along the & The NewInYork Times useful  Useful  Notexamples Cancel anytime.

strategic dri is a gradual change that occurs so subtly that it is not noced unl it is Special offer for students: Only $4.99/month. contrast, transformaonal change is sudden and radical.

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Learning outcome: 4.0

(a)

Conduct an in-depth STEEPLE analysis for an organisaon with which you are familia

(b)

Using the STEEPLE analysis in part (a), suggest corporate and business strategies to a idened challenges and opportunies.

Marking scheme (a)


A STEEPLE analysis considers the broad environmental factors that impact on an orga Candidates should choose an organisaon for which that are familiar and set out the

The STEEPLE acronym refers to the way of categorising the factors into the headings technological, economic, and environmental (ecological), Polical, legal, and ethical a important that candidates analyse the implicaons to the chosen organisaon, rath idenfy a list of factors within each heading.

The factors idened should be external challenges or opportunies outside the con organisaon rather than internal issues, although a link could be made to internal as analysis. However, reference to the organisaon’s strengths and weaknesses in rela external issues may form part of the analysis.

A mere lisng of the elements is not sucient for a pass and the higher scoring answ You're Reading a Preview emphasise that the growing importance of environmental or ecological factors in the Unlock full access with a free trial. decade of the 21st century have given rise to green business and encouraged widesp of an updated version of the Socio-cultural, Technological, Economic, Ecological, and factors. Download With Free Trial

It is more important to assess the level of analysis, rather than be concerned about w category the idened issues are placed within.

Master(b)your semester with Scribd  Free Foron 30this Days Using the STEEPLE as a basis, candidates must nowRead suggest corporate and business Sign up to vote title  addressTimes the idened challenges and opportunies. The corporate and business s & The NewtoYork  Useful  Not useful Cancel anytime.

that Only are suggested Special offer for students: $4.99/month.could be in the form of generic strategies, strategic direcons, or methods.

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Higher scoring answers will also demonstrate a robust analysis of the chosen organis broad environment and suggest appropriate strategies that address the idened ch and opportunies.

CIPS study guide reference: Chapter 4, secon 2, page 54 onwards and Chapter 11

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PD2_Corporate and Business Stratergy_Questions and Answers

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