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All rights reserved No part of this publication may be reproduced, stored in a retrieval system or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior written permission of BPP Learning Media Ltd We are grateful to the Association of Chartered Certified Accountants for permission to reproduce past examination questions The suggested solutions in the practice answer bank have been prepared by BPP Learning Media Ltd, unless otherwise stated © BPP Learning Media Ltd 2016 ii http://accountingpdf.com/ Contents Page Introduction Helping you to pass Studying P3 The exam paper Syllabus and study guide iv vi xi xii Part A Strategic position Business strategy Environmental issues Competitors and customers Strategic capability Stakeholders, ethics, culture and integrated reporting 23 63 89 125 Part B Strategic choices Strategic choices 163 Part C Organising and enabling success Organising for success Managing strategic change 223 259 Part D Business process change 10 Business process change Improving processes 279 305 Part E Information technology 11 12 E-business E-marketing 331 383 Part F Project management 13 Project management 429 Part G Finance 14 Finance 491 Part H People 15 Human resource management 547 Part I Strategic development 16 Strategic development 569 Practice question bank Practice answer bank Index Review form 585 599 631 Contents http://accountingpdf.com/ iii Helping you to pass BPP Learning Media – ACCA Approved Content Provider As an ACCA Approved Content Provider, BPP Learning Media gives you the opportunity to use study materials reviewed by the ACCA examination team By incorporating the examination team's comments and suggestions regarding the depth and breadth of syllabus coverage, the BPP Learning Media Study Text provides excellent, ACCA-approved support for your studies The PER alert Before you can qualify as an ACCA member, you not only have to pass all your exams but also fulfil a three year practical experience requirement (PER) To help you to recognise areas of the syllabus that you might be able to apply in the workplace to achieve different performance objectives, we have introduced the 'PER alert' feature You will find this feature throughout the Study Text to remind you that what you are learning to pass your ACCA exams is equally useful to the fulfilment of the PER requirement Your achievement of the PER should now be recorded in your on-line My Experience record Tackling studying Studying can be a daunting prospect, particularly when you have lots of other commitments The different features of the Study Text, the purposes of which are explained fully on the Chapter features page, will help you whilst studying and improve your chances of exam success Developing exam awareness Our Texts are completely focused on helping you pass your exam Our advice on Studying P3 outlines the content of the paper, the necessary skills you are expected to be able to demonstrate and any brought forward knowledge you are expected to have Exam focus points are included within the chapters to highlight when and how specific topics were examined, or how they might be examined in the future Using the Syllabus and Study Guide You can find the syllabus and study guide on page xii–xxiii of this Study Text Testing what you can Testing yourself helps you develop the skills you need to pass the exam and also confirms that you can recall what you have learnt We include Questions – lots of them – both within chapters and in the Practice Question Bank, as well as Quick Quizzes at the end of each chapter to test your knowledge of the chapter content iv Introduction http://accountingpdf.com/ Chapter features Each chapter contains a number of helpful features to guide you through each topic Topic list Topic list Syllabus reference What you will be studying in this chapter and the relevant section numbers, together with ACCA syllabus references Introduction Puts the chapter content in the context of the syllabus as a whole Study Guide Links the chapter content with ACCA guidance Exam Guide Highlights how examinable the chapter content is likely to be and the ways in which it could be examined Knowledge brought forward from earlier studies What you are assumed to know from previous studies/exams FAST FORWARD Summarises the content of main chapter headings, allowing you to preview and review each section easily Examples Demonstrate how to apply key knowledge and techniques Key terms Definitions of important concepts that can often earn you easy marks in exams Exam focus points When and how specific topics were examined, or how they may be examined in the future Formula to learn Formulae that are not given in the exam but which have to be learnt Gives you a useful indication of syllabus areas that closely relate to performance objectives in your Practical Experience Requirement (PER) Question Gives you essential practice of techniques covered in the chapter Case Study Real world examples of theories and techniques Chapter Roundup A full list of the Fast Forwards included in the chapter, providing an easy source of review Quick Quiz A quick test of your knowledge of the main topics in the chapter Practice Question Bank Found at the back of the Study Text with more comprehensive chapter questions Cross referenced for easy navigation Introduction http://accountingpdf.com/ v Studying P3 Much of the P3 exam is concerned with business strategy As a Chartered Certified Accountant you are likely to find yourself dealing with matters that are of strategic importance to your organisation It is important, therefore, that you have an understanding of the way business strategy is conducted so that your input is appropriate and properly considered However, the name of P3 is Business Analysis, not Business Strategy Business Analysis is wider than simply strategy and this paper will also draw from your financial and business skills gained during your studies so far It brings these concepts together and encourages you to take a wider view of the organisations you are presented with in order to give your analysis of those organisations as a whole What P3 is about The aim of the syllabus is to develop students' ability to apply relevant knowledge and skills, and exercise the professional judgement in assessing strategic position, determining strategic choice, and implementing strategic action through beneficial business process and structural change that involve people, finance and information technology This is an advanced level paper which builds on a number of the topics covered in Paper F1 Accountant in Business as well as topics you will have seen in Paper F5 Performance Management However, as an advanced paper it tests much more than just your ability to recall models and theories You must be able to evaluate data, assess the strategic consequences of decisions and advise on alternative courses of action The syllabus is divided into eight main sections, (although the examining team are keen that you view them as an integrated whole, rather than as a series of unrelated sections) (a) Strategic position The syllabus begins by considering the impact of the external environment on an organisation, and looks at the competitive forces organisations face It then also looks at an organisation's internal capabilities and expectations, to see how an organisation can position itself to get the most value out of its resources However, an organisation also needs to consider its responsibilities to differing stakeholder groups, and how the expectations of stakeholders, alongside ethics and culture, help shape organisational purpose (b) Strategic choice Once an organisation has established its current strategic position it can start thinking about the direction it wants to take in the future This section looks at the decisions which have to be made about an organisation's future and the way an organisation can respond to the influences and pressures which it identified while assessing its strategic position (c) Strategic action This section deals with the implementation of strategic choices, and the transformation of these choices into organisational action This action takes place in a context of operational processes and relationships, which need to be managed in line with the intended strategy, and involves the effective coordination of business processes, information technology, people and finance You will be expected to identify problems and issues in an organisation which prevent it from achieving its strategies, and make recommendations about how these problems can be resolved vi Introduction http://accountingpdf.com/ (d) Business and process change This section is the first considering how organisational elements support business strategy, and it highlights that business process redesign can lead to significant organisational improvements Again, you will be expected to identify problems or inefficiencies with existing processes and make recommendations as to how they can be made more effective (e) Information technology The application of information technology is often one of the ways that business processes can be redesigned This reflects the fact that many existing processes are less efficient than they could be, and that new technology and the application of e-business models make it possible to design those processes more efficiently (f) Project management In (c) above we noted that effective strategic action requires the coordination of a number of operational processes This coordination can be facilitated through effective project management (g) Financial analysis Strategic planning and strategic implementation should be subject to financial benchmarks Financial analysis explicitly recognises this, reminding you of the importance of focusing on key ratios and measures that can be used to assess the viability of a strategy and to monitor or measure its success (h) People Human resource management plays a vital role in underpinning strategy Successful strategic planning and implementation require the effective recruitment, training, and organisation of people, coupled with strong leadership As with so many other areas of the syllabus, it is crucial that an organisation's personnel resources are appropriate for the strategy it is pursuing Skills you have to demonstrate • An ability to integrate knowledge and understanding from across the syllabus • Application of your knowledge to the specific circumstances described by the question • An ability to make reasoned judgements and give practical, commercial advice based on the facts presented in the question scenario • Careful reading and analysis of the question scenarios, and the question requirements • If you read the main capabilities listed by ACCA that students are expected to have on completion of P3, you will find continued reference to the verbs 'evaluate', 'assess', 'advise' and 'explain' – make sure you can all of these in relation to the different aspects of the syllabus How to pass Study the entire syllabus – questions may span a number of syllabus areas and you must be prepared for anything! Practise as many questions as you can under timed conditions This is the best way of developing good exam technique Make use of the Question Bank at the back of this Study Text, and, more importantly, BPP's Practice & Revision Kit The Kit contains numerous exam standard questions (many of them taken from past exam papers) as well as three mock exams for you to try P3 questions will be scenario-based and all the information given in the scenarios will be relevant to the questions set Make sure you relate your answers to the scenario rather than letting them become generic Answers that are simply regurgitated from texts are unlikely to score well Introduction http://accountingpdf.com/ vii Present your answers in a professional manner – there are marks available for coherent, well structured arguments and for making recommendations when required You should be aiming to achieve all of these marks Manage your time in the exam hall carefully Answer plans will help you to focus on the requirements of the question and enable you to manage your time effectively Also, not waffle Make your answers complete, but brief Answer the question that you are most comfortable with first – it will help to settle you down if you feel you have answered the first question well Answer all parts of the question – leaving out a five mark discursive element for example may mean the difference between a pass and a fail Read the financial press and relevant web sites (for example, the BBC business website) for real life examples The examination team is specifically looking for evidence of wider reading They have repeatedly stressed the importance of reading the finance section of a good quality newspaper so that you can draw on real-life situations to help inform your answers This does not, of course, mean you should simply quote real life examples in your exam just to show you have read widely Instead you should use the real life examples to help inform your answers to the questions set Check the P3 section of the ACCA website regularly – it often contains technical articles written either by, or on the recommendation of, the examination team which can be invaluable for future exams Brought forward knowledge As mentioned previously, this paper builds on knowledge brought forward from Paper F1, Accountant in Business and F5 Performance Management If you have not studied F1 or F5, or were exempt, you should spend some time considering the syllabus and study guide to identify any gaps in your knowledge You must ensure you cover any areas you are unsure of before your exam, so that you would be comfortable referring to them as necessary The syllabus information is available on the ACCA website, www.accaglobal.com viii Introduction http://accountingpdf.com/ Environmental protection policy, 34 Environmental protection, 33 Environmental risk screening, 34 Environmental taxes, 35 Environmental uncertainty, 26 Environment-related management accounting, 35 Envisioning, 179 E-procurement, 375 Equity, 505 Equity share capital, 505 Equity shares, 505 ERP, 312 Escrow agreements, 324 E-tailers, 339 Ethical dilemmas, 127, 129 Ethical relativism, 127 Ethical stance, 138 Ethics, 127 Ethnocentrism, 170 Eurostar, 54 Evolution, 261, 265 Exit barriers, 56, 201 Experience curve, 95 Expert system, 101 Explicit knowledge, 100 Exponential smoothing, 50 Exporting, 172, 176 Export-led growth, 169 Extended marketing mix, 72 Extended product, 391 Externalities, 137 Extortion, 130 Extranet, 101, 341, 344, 345, 378 Factor conditions, 39 Failure strategies, 194 Fan clubs, 340 Feasibility, 211, 213, 232, 309, 364 Feedback, 556 Fiedler, 552 Fighting back, 65 File creation, 319 Finance, 11 Financial, 447 Financial control style, 239 Financial control, 248 Financial feasibility, 310 Financial intermediaries, 340 Financial management, 502 Financial services, 340 Firewall, 101, 344 Firm infrastructure, 104 Firm strategy, structure and rivalry, 40 First mover, 95 First mover advantage, 196 634 First pass selection, 322 Five competitive forces, 52 Five Cs, 172 Five forces, 25, 188 Flexibility, 318 Flexible firm, 244 Flexible manufacturing, 556 Focus, 186, 188 Focussed differentiation, 193 Follower strategy, 111 Forcefield analysis, 262 Forecast, 503 Forecasting a cash surplus, 504 Forecasts, 42 Forming, 472 Forums, 340 Forward integration, 167 Four Ps, 71 Franchising, 205, 206 Functional organisation, 225 Functional requirements, 318 Functional structure, 225 G2B (Government-to-Business), 338 G2C (Government-to-Citizen), 338 G2E (Government-to-Employee), 338 G2G (Government-to-Government), 338 Gantt chart, 464 Gantt charts, 483 Gap analysis, 284 Gaps and disconnects, 309 Gateway, 475 Gearing ratio, 535 Gearing, 534 Generic strategies, 186 Generic strategy, 58 Geocentrism, 171 Geographical, 75 Ghoshal and Bartlett, 243 Gifts, 130 Global company, 172 Global competition, 38 Global heterarchy, 173 Globalisation, 37, 169 Goals, 6, 7, Golden fleeces, 184 Goold and Campbell, 238 Governance framework, 140 Government policy, 38 Government, 58 Graphical User Interface (GUI), 343 Grease money, 130 Green issues, 34 Green pressure groups, 34 Group, 470 Group roles, 471 Index http://accountingpdf.com/ Groupthink, 473 Groupware, 101 Growth vector matrix, 198 Habitual buying behaviour, 411 Hammer and Champy, 290 Harmon, 307 Harmon's process-strategy matrix, 294 Harris and Ogbonna, 272 Heartland businesses, 185 Hersey and Blanchard, 552 Hierarchical structure, 253 Hierarchy of objectives, Holding company, 226, 227 Hollow organisation structure, 240 Home country orientation, 170 Horizontal integration, 167 Human capital theory, 560 Human relations, 555, 558 Human resource management, 11, 104 Human resources, 39, 119 Hybrid chief executive, 267 Hybrid strategy, 192 Hypercompetition, 66, 97, 195, 196 Hypercompetitive strategy, 197 Icarus paradox, 575 Immanuel Kant, 128 Immigration, 170 Impact reduction, 324 Imperatives, 318 Implementation, 288, 323 Import substitution, 169 Imposed strategy, 574 Improved products, 187 Inbound logistics, 104 Incentives, 385 Independence of location, 389 Indirect exporting, 175, 176 Individualisation, 389 Industrial market, 75, 76 Industrial markets, 73 Industry, 25, 51 Industry life cycle, 66, 211 Industry scenarios, 44 Industry standard, 195 Industry structure, 389 Inflation, 540 Information, 98 Information intensity matrix, 372 Information systems, 11, 204 Information technology, 57 Infrastructure, 39 In-house development, 313 Initial implementation requirements, 319 Innovation, 66, 106, 110, 113, 203 Innovation and competitive advantage, 110 Insiderisation, 172 Intangible products, 16 Intangible resources, 93 Integrated reporting, 150 Integration, 389 Intelligence, 389 Intended strategy, 570 Interactive advertising, 385 Interactive digital television, 347 Interactivity, 389 Interdependence of organisations, 243 Interest cover, 535 Interest yield, 538 Internal development, 203 Internal marketing, 394 International Standards Organisation, 341, 346, 378 Internet, 173, 293, 343, 344 Internet Protocol (IP), 346 Intervention, 179 Interviews, 314 Intranet, 101, 341, 344, 378 Intrapreneurship, 114 Investment decision-maker, 466 Investment synergy, 166 Invitation to tender, 322 IP address, 346 IT and, 291 J anis, IL, 473 Japanese model of corporate governance, 142 Job content, 555 Job design, 554, 561 Job enlargement, 555 Job enrichment, 555, 558 Job losses, 271 Job rotation, 555 Joint ventures, 177, 205 K alakota and Robinson, 365 Kall-Kwik, 206 Kanban, 557 Key customer analysis, 81 Key drivers of change, 37 Key factor, 92 Key performance indicators, 80 Knowledge, 39, 98 Knowledge management, 97 Knowledge work, 33, 559 Kotler, 75 KPIs, 80 Kvaerner, 36 Labour, 170 , http://accountingpdf.com/ Index 635 Latin model of corporate governance, 142 Le Shuttle, 54 Lead generation, 385 Leader strategy, 111 Leadership, 146, 233, 266, 575 Leading indicators, 51 Lean production, 556 Learning, 203, 208, 578 Learning curve, 95, 176, 187 Learning organisation, 97, 577, 578 Leasing, 243 Least squares regression analysis, 47, 48 Legal environment, 36 Levels of strategy, 10, 20 Licensing agreement, 205 Life cycle, 35, 78 Life cycle analysis, 211 Life cycle/portfolio matrix, 211 Lifestyle segmentation, 75 Lifetime costs, 95 Limiting factor, 92 Linear regression analysis, 45 Linkages, 104 Loan capital, 507 Loan stock, 507 Lock-in, 195 Logical incrementalism, 575, 578 Long-term direction, Lotus Notes, 101 Low price strategy, 192 Luxury goods, 170 Lynch, 198 Machine bureaucracy, 249 Machine cells, 557 Macro scenarios, 43 Macro-environment, 25 Malls, 339 Management by exception, 470, 479 Management by objectives, Management of change, 253 Management of relationships, 243 Management style, 146 Management synergy, 166 Management team, 341 Managerial grid, 550 Market attractiveness, 174 Market convergence, 169 Market development, 200 Market globalisation, 37 Market growth rate, 182 Market opportunity, 341 Market options matrix, 198 Market penetration, 199 Market position, 209 Market power, 166 636 Market processes, 236 Market segmentation, 75 Market segments, 25, 83 Market share, 81, 182, 198 Market strategy, 341 Market, 25, 73 Marketing, 11, 71, 113, 203, 333 Marketing and sales, 104 Marketing audit, 80 Marketing mix, 71 Marketing synergy, 166 Mashups, 417 Matrix, 251 Matrix organisation, 228, 470 Matrix structure, 228, 229, 230 Maturity, 108, 552 McDonald and Wilson, 388 McGregor, 551 Measurable, 447 Medium-term forecasting, 51 Megatrends, 363 Mendelow's matrix, 134 Mergers, 204 Middle line, 248, 250 Milestone, 475 Military analogies, 65 Mintzberg, H, 137, 248, 256 Mission, 6, 9, 146 Mission statement, Missionary organisation, 252 Modes of entry, 175 Modular organisation structure, 239, 241 Moral hazard, 141 Moving averages, 50 Multi-disciplinary teams, 471 Multi-divisional structure, 227 Multinationals, 15 Multi-skilling, 558 Mythology, 146 National vocational qualifications, 561 Natural law, 128 Neo-human relations, 555 Network Access Points, 343 Network diagram, 464, 483 Network marketing, 394 Network organisations, 243 Networks, 270 Networks of influence, 270 New product development, 112 New product strategies, 111 No frills strategy, 192 Non-cognitivism, 127 Non-functional requirements, 318 Non-substitutability, 96 Norming, 472 Index http://accountingpdf.com/ Not-for-profit organisations, 15 Not-for-profit services, 51 Objective, 6, Observable, 447 Observation, 316 Office automation systems, 100 Offshoring and shared servicing, 241 Offshoring, 241 Ohmae 5Cs, 172 One-to-one marketing, 415 Online transaction, 386 Open system, 281 Open Systems Interconnection (OSI) standard, 346 Operability requirements, 320 Operating adhocracy, 251 Operating core, 248, 249 Operating costs, 449 Operating gearing, 535 Operating synergy, 166 Operational CRM, 419 Operational strategies, 11 Operations, 104 Opportunities, 83, 119 Options generation, 574 Ordinary shares, 505 Organic growth, 203 Organisation, 33 Organisational buying behaviour, 74 Organisational configuration, 225 Organisational culture, 146 Organisational development, 341 Organisational iceberg, 146 Organisational knowledge, 97 Organisational learning, 97 Outbound logistics, 104 Output controls, 233 Outsourcing, 95, 239, 241, 255, 298 Overseas branches, 172 Overseas manufacture, 175, 177 Overseas production, 172, 177 Packaged holidays, 32 Paradigm, 147, 260, 269 Parallel running, 320 Parental developers, 180 Patterns in information, 98 Pay Per Click advertising, 385 People, 72, 394 Performance targets, 233 Performing, 472 Peripheral employees, 30 Permission marketing, 412 Personalisation, 413 Personality, 472 Personnel management, 560 PERT, 465 PESTEL, 25, 27 Philips, 203 Physical evidence, 72, 395 Physical resources, 39, 92 Pilot operation, 320 PIMS, 110, 183 Place, 72 Planning processes, 233 Planning, 556 Point of Presence (POP), 343 Policies and standards of behaviour, Political hot boxes, 184 Political processes, 576 Political risk, 29, 175 Political view, 576 Politics, 270, 576 Polycentrism, 171 POPIT model, 281, 286 Portals, 339 Porter, 186 Porter and Millar, 371 Porter, M, 39, 52, 102, 186 Porter's diamond, 39 Portfolio managers, 180 Position audit, 91 Post-implementation reviews, 481 Postma, P, 414 Post-project review, 480 Power, 270 Power games, 576 Power structures, 270 PR, 394 Price, 72, 392, 396 Price/Earnings ratio, 538 Price-based strategies, 192, 195 Primary activities, 104 Primary working group, 471 Principles of BPR, 290 Process, 395 Process commoditisation, 298 Process improvement, 294 Process redesign, 294 Process redesign methodology, 296 Process redesign pattern, 307 Process reengineering, 294 Process research, 112, 113 Processes, 72, 225 Procurement, 104 Product, 71, 391 Product class, 107 Product development, 200 Product differentiation, 53 Product form, 107 Product innovation, 66 Product life cycle, 66, 107, 108, 109, 211 , http://accountingpdf.com/ Index 637 Product portfolio, 107 Product positioning, 78 Product research, 112 Production, 11, 203 Production possibility curve, 33 Product-market mix, 198 Product-market strategy, 198 Professional bureaucracy, 249 Profit margin, 533 Progress report, 475 Project, 431 Project Board, 466 Project Budget, 463 Project champion, 466 Project change procedure, 477 Project co-ordinators, 228 Project Evaluation and review technique (PERT), 465 Project management, 432, 485 Project management software, 483 Project manager, 466, 467 Project manager responsibilities, 467 Project owner, 466 Project sponsor, 466 Project stakeholders, 441, 449 Project teams, 559, 574 Project-based structure, 231 Promotion, 72, 393 Promotional mix, 394 Protocol analysis, 316 Protocol stack, 347 Prototyping, 316 Psychographic segmentation, 75 Public policy on competition, 28 Public sector portfolio matrix, 184 Public sector star, 184 Public sector, 15, 94, 233 Publisher websites, 340 Pull model, 368 Pure research, 112 Purpose, Push model, 367 Qualitative forecasting, 45 Quality, 432, 555 Quality control, 468 Quality improvement methods, 292 Quality methods, 557 Quantifiable, 447 Question marks, 183 Questionnaires, 315 Quick ratio, 536 Rao et al, 366 Rarity, 96 638 Ratio analysis, 530 Ratio pyramids, 532 Rayport and Jaworski, 366 Real options, 215 Realisation of the benefits of change, 288 Realised strategy, 570, 574 Reconstruction, 261, 265 Reduction, 479 Redundancy payments, 56 Redundancy programmes, 271 Regiocentrism, 171 Regression analysis, 47 Reinforcing cycles, 253 Reintermediation, 338, 339, 393 Related and supporting industries, 40 Related diversification, 167 Relationship marketing, 407, 412 Relationships, 225, 236 Relative market share, 182 Relevant costs, 523 Renewable and non-renewable resources, 35 Research and development, 11, 112, 113 Research techniques, 317 Resource, 97 Resource allocation routines, 575 Resource audit, 91 Resource histogram, 465 Resource-based strategy, 92 Resources, 10, 91, 431 Response, 65 Return on capital employed, 532 Revenue model, 341 Revolution, 261, 265 Rhine model of corporate governance, 142 Ringelmann effect, 471 Risk, 175, 214 Risk assessment matrix, 478 Risk avoidance, 324 Risk management, 478 Risk mitigation, 324 Risk reduction, 324 Risk register, 478 Risks of poor corporate governance, 144 Rituals, 31, 145 Rivalry amongst current competitors, 52, 56 Robustness, 96 Rollback analysis, 520 Routines, 269 Rummler-Brache methodology, 292 Sales growth, 534 Sales promotion, 394 Sales support, 394 Scale economies, 53 Scenario, 25, 43 Scenario building, 43 Index http://accountingpdf.com/ Scientific Management, 554, 555, 558 Scope creep, 475 Scottish vocational qualifications, 561 Screening process, 175 Search bots, 339 Search engine marketing, 385 Search Engine Optimisation, 417 Search engines, 339, 409 Seasonal variations, 48, 50 Second pass selection, 323 Secondary ratios, 533 Sector, 25, 51 Segment attractiveness, 77 Segment validity, 77 Segmentation, 73, 407, 411 Segmentation bases, 75 Segmentation of the industrial market, 76 Segmentation variables, 75 Self contained, 225 Self-control, 233 Semi-closed system, 281 Services, 169 Set-up costs, 556 Shamrock organisation, 243, 244, 248 Shared servicing, 242 Shaw and Stone, 415 Shopping goods, 73 Simple structure, 248 Situation analysis, 260 Six Is, 388 Size, 226, 250 Skidmore and Eva, 314, 317 SLEPT, 27 Small businesses, 15 SMART objectives, Social feasibility, 310 Social loafing, 471 Social needs, 555 Social networking, 416 Social responsibility, 131 Socio-demographic, 76 Software engineering, 292 Software installation, 320 Software package solution, 419 Software packages, 313, 317, 321 Specialisation, 558 Stages of e-commerce development, 366 Stakeholder concept, 407 Stakeholder mapping, 134 Stakeholder theory, 133 Stakeholders' objectives, 131 Stakeholders, 131, 166, 214, 267, 268 Standard cost, 510 Standard costing, 510 Standardisation, 250 Stars, 183 STEEPLE, 27 Stereotypical configurations, 248 Stock, 507 Stock market ratios, 532, 538 Storming, 472 Strategic alliances, 208, 239 Strategic analysis, 574 Strategic apex, 248, 579 Strategic business units, 165 Strategic capability, 9, 12, 91, 95, 118, 195, 560 Strategic change, 260, 574 Strategic choices, 12, 570 Strategic control, 9, 238 Strategic control style, 238 Strategic customer, 79, 83 Strategic drift, 18, 575, 577 Strategic gaps, 83 Strategic group analysis, 70 Strategic groups, 25, 70, 83 Strategic intent, Strategic leadership, 266 Strategic management accounting, 82, 495 Strategic management styles, 238 Strategic planning, 238 Strategic planning process, Strategic planning systems, 571 Strategic position, 12, 570 Strategic project management, 435 Strategic space, 71 Strategies for market challengers, 210 Strategies for market followers, 210 Strategies for market leaders, 210 Strategies for market nichers, 210 Strategy as design, 16, 17 Strategy as experience, 16, 17 Strategy as ideas, 16, 18 Strategy clock, 191 Strategy into action, 13, 570 Strategy lenses, 16 Strategy, 4, 5, Strengths, 119 Structure, 146, 225 Stuck-in-the-middle strategy, 189 Styles of change management, 264 Subcultures, 32, 145 Substitutes, 58, 83 Succession planning, 562 Suitability, 211, 364 Supervision, 233 Supplier citizenship requirements, 319 Supplier stability requirements, 318 Supply chain management, 367, 372, 373, 379, 380 Supply chain, 367, 379 Supply costs, 94 Supply-led convergence, 51 Support activities, 104 , http://accountingpdf.com/ Index 639 Support staff, 248, 250 Sustainability, 35 Sustainability Ltd, 36 Sustainable competitive advantage, 95, 195 Sustaining competitive advantage, 195 Switching costs, 53 SWOT analysis, 119, 120 Symbolic processes, 269 Symbols, 269 Synergy, 166, 200 Synergy managers, 180 System, 281 System architecture, 341, 342, 378 System implementation, 320 Systems theory, 281 T acit knowledge, 97, 100 Tagging, 417 Takeover, 214 Tangible resources, 93 Tannenbaum and Schmidt, 549 Target market segments, 268 Target marketing, 78 Taylor, F, 554 TCP/IP protocol stack, 341, 347, 378 Team, 471 Team-based structure, 231 Teambuilding, 433, 468 Technical feasibility, 310 Technical requirements, 318 Technological environment, 32 Technological innovations, 203 Technologies, 333 Technology development, 104 Technostructure, 248 The hybrid accountant, 494 The value network, 105 Theory X and Theory Y, 551 Theory Y, 551 Threat from substitute products, 54 Threat of new entrants, 52 Threat of substitute products, 52 Threats, 83, 119 Threshold capabilities, 93 Threshold competence, 94 Threshold competences, 93 Threshold resources, 93 Time and cost constraints, 321 Time horizon, 573 Time series analysis, 48 Top-down budgeting, 463 Total quality, 557 TOWS matrix, 120, 194 Transactional leaders, 266 Transference, 479 Transnational, 173, 248 640 Transparent pricing, 395 Travel agents, 340 Trend line, 48 Tuckman, 472 Turnaround, 267 Turnover periods, 537 Uncertainty, 578 Undifferentiated marketing, 78 Unique resource, 92 Unique resources, 92, 93 Universal Mobile Telephone System (UMTS), 348 Unrealised strategy, 571 Unrelated diversification, 168 User contribution systems, 245 User generated content, 417 User groups, 340 User training, 320 Utilisation of indivisibilities, 95 Utilitarianism, 128 Value activities, 102, 103, 369 Value chain, 102, 197, 369 Value creation, 179 Value destruction, 180 Value drivers, 369 Value network, 370 Value proposition, 341 Value system, 105 Value trap businesses, 185 Value-added analysis, 308 Values, 6, 146 Variance, 510, 513 Variance analysis, 510 Vertical disintegration, 373 Vertical integration, 167, 373 Viral marketing, 409 Virtual and network organisational structures, 239 Virtual integration, 373 Virtual organisation, 245 Virtual resellers, 340 Virtual teams, 243 Virtue ethics, 129 Vision, Visual identity, 405 Vocabulary of strategy, Waste minimisation schemes, 35 Weaknesses, 119 Web 2.0 technologies, 416 Web-based communities, 416 Website evaluators, 340 Weirich, 120 Index http://accountingpdf.com/ Weirich's TOWS matrix, 120 What if? analyses, 484 WiFi Internet access, 348 Wireless Application Protocol (WAP), 348 Wireless commerce, 347 Withdrawal, 201 Work study, 554 Workflow systems, 291 Workshops, 316, 574 World Wide Web, 341, 343, 378 Written questions, 315 , http://accountingpdf.com/ Index 641 Index http://accountingpdf.com/ Notes http://accountingpdf.com/ Notes http://accountingpdf.com/ Notes http://accountingpdf.com/ Notes http://accountingpdf.com/ Review Form – Paper P3 Business Analysis (02/16) Please help us to ensure that the ACCA learning materials we produce remain as accurate and user-friendly as possible We cannot promise to answer every submission we receive, but we promise that it will be read and taken into account when we update this Study Text Name: Address: During the past six months you recall seeing/receiving any of the following? 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