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Additional info for ACCA P3 Business Analysis: Study Text
Co m The need for, and purpose of, strategic and business analysis The expectations of stakeholders and the influence of ethics and culture (g) Advise on how organisations can communicate their core values and mission 3 ym a A6 Exam guide tud This chapter covers fundamental concepts that are likely to be relevant to any exam question. They could be examined directly, or they could be used in the context of a scenario. If a strategy is to be successful, it must be appropriate to the organisation or situation described in the scenario.
To create wealth for owners? To satisfy the needs of all stakeholders? To reach some higher goal such as the advancement of society? tud (i) (ii) (iii) Values are the beliefs and moral principles that underlie the organisation's culture. (c) Strategy provides the commercial logic for the company, and so addresses the following question: 'What is our business? ' Strategy in this sense is referred to by JS&W as a 'business model'. (d) Policies and standards of behaviour provide guidance on how the organisation's business should be conducted.
In its simplest form, this will involve adapting products and services to gradually changing customer requirements. (e) A contrasting approach will be to exploit unique resources and the organisation's special competences in particular. This approach sees the business environment as something that can be changed by the organisations' own actions. (f) Strategic decisions are affected by the values and expectations of all of the organisation's stakeholders. Stakeholders are people who have a legitimate interest in what the organisation does.