ACCAp3考官文章

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1、Thestrategicplanningprocess-part2Thesecondoftwoarticlesthatfocusonapplyingyourknowledgeofmanagementandstrategytoascenariosituation.Part1consideredthecomplexitiesofstrategicplanningandhowtheycanbebrokendownintothreemainareas.Part2adoptsasimilarsimplificationapproachtotheiss

2、uesofstrategicchoiceandstrategicimplementation.OneofthemainproblemsfacedbystudentsonPaperP3isapplicationofknowledge.EarlyonintheirpreparationmoststudentsfeelcomfortablewithallthatisdiscussedinPaperP3andmanydevelopafalsesenseofsecuritypreferringtoconcentrateonwhatseemstobea

3、noverwhelmingamountofinformationforPapersP2,P4orP6.Itisonlywhenstudentsentertherevisionphasedotheyrealisethatyouneedtodomuchmorethanjustlearnthenotesinordertopasstheexam.Themainskillthatastudentneedstodevelopisanabilitytoapplytheacquiredknowledgeinascenariosituation.Thefol

4、lowingprovidesaninsightintohowtoapplyyourknowledgeeffectively.Inthepreviousarticleweestablishedhowthecomplexitiesofstrategicplanningcouldbebrokendownintothreemainareas:.Strategicanalysis.Strategicchoice.StrategicimplementationThepreviousarticlecomprehensivelyexplainedstrat

5、egicanalysisbybreakingitdownintothreequestions:·Wheredowewanttogo?(Thinkstakeholderconstraints)·Whatconstraintsexistonourresources?(Think6Ms)·Whatarethekeythreatsfromtheexternalenvironment?(ThinkPESTELandfiveforces)Inthisarticlewearegoingtotrytoadoptasimilarsimplificationa

6、pproachtotheissuesofstrategicchoiceandstrategicimplementation.StrategicchoiceJohnsonandScholesbreakdowntheissueofstrategicchoiceintothreedistinctsubheadings,whichare:·Onwhatbasisdowedecidetocompete?·Whichdirectionshouldwechoose?·Howarewegoingtoachievethechosendirection?Onw

7、hatbasisdowedecidetocompete?AusefulframeworktousehereisPorter’sgenericstrategies.MichaelPorterstatedthatafirmthatiswishingtoobtaincompetitiveadvantageoveritsrivalsisfacedwithtwochoices:Choice1:Isthecompanyseekingtocompetebyachievinglowercoststhanitsrivalsachieveandbychargi

8、ngsimilarpricesfortheproductsandservicesthatitoffers,therebyachievingadvantageviasuperior