Professional Body: ICA (Ghana)

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PSAF – Nov 2020 – L2 – Q3a – The Budgeting Process in the Public Sector

Explain the factors militating against the budgeting system in the public sector.

Question

The budgeting process is a cycle of events which occur sequentially every
year and which results in the approved budgets in ministries and extra ministerial departments.

Required:
Explain five factors militating against the budgeting system in the public sector.

Answer

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Tags: Budget Process, Government Expenditure, Public Sector Budgeting
Level: Level 2

Topic: The Budgeting Process in the Public Sector
Series: NOV 2020

BMIS – Nov 2019 – L1 – Q1a – The Business Organization and its Stakeholders

Explain three business types available to individuals venturing into business.

Question

Kofi Stone, Ama Black and Adwoa Sika who were your students at the Ultimate Business School have decided to venture into business after their National Service which ends in the next three months. They have approached you for your advice on the type(s) of business(es) which they should invest in, considering the country’s economic environment.

Required:
Explain THREE (3) business types available to them. (6 marks)

Answer

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Tags: Business Types, Limited Liability Company, Partnership, Sole Proprietorship
Level: Level 1

Topic: The Business Organisation and its Stakeholders
Series: NOV 2019

BMIS – Nov 2019 – L1 – Q1c – Organization culture in business

Explains centralization, decentralization, and three advantages of decentralization for a company.

Question

At the last Management meeting of Cool Hearts Ltd, which is a fast-moving consumer product firm with outlets throughout the country, it came out that sales and other targets were being missed as a result of the failure of top managers to involve subordinates in decision-making. You have just joined the company as an Organizational Analyst and have decided to submit a proposed solution to the problem to your Board at its next meeting to be held in two weeks’ time.

Required:
Explain the following:
i) Centralization (2 marks)
ii) Decentralization (2 marks)
iii) THREE (3) advantages Cool Hearts Ltd would gain from decentralizing its operations. (6 marks)

Answer

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Tags: Centralization, Decentralization, Decision Making, Management Decisions, Organizational Structure
Level: Level 1

Topic: Organisation culture in business
Series: NOV 2019

BMIS – Nov 2019 – L1 – Q1b – Characteristics of a Private Limited Company

Explain two characteristics of a private limited liability company.

Question

Explain TWO (2) characteristics of a Private Limited Liability Company. (4 marks)

Answer

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Tags: Company Characteristics, Private Limited Liability
Level: Level 1

Topic: The Business Organisation and its Stakeholders
Series: NOV 2019

BMIS – Nov 2019 – L1 – Q2ai – Leadership Definition

Explain the term leadership in relation to its influence on group behavior.

Question

Explain the term Leadership. (2 Marks)

Answer

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Tags: Group Dynamics, Influence, Leadership
Level: Level 1

Topic: Management and leadership
Series: NOV 2019

BMIS – Nov 2019 – L1 – Q2aii – Theories of Leadership

Explain the Trait, Style, and Contingency Theories of Leadership.

Question

Explain the following Theories of Leadership:

Trait (3 Marks)
Style (3 Marks)
Contingency (3 Marks)

Answer

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Tags: Contingency Theory, Leadership Theories, Style Theory, Trait Theory
Level: Level 1

Topic: Management and leadership
Series: NOV 2019

BMIS – Nov 2019 – L1 – Q2bi – Extrinsic Rewards

Explain extrinsic rewards in relation to employee motivation.

Question

Explain the following in relation to the motivation of employees:
i) Extrinsic rewards (2 Marks)

Answer

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Tags: Employee Compensation, Motivation, Rewards
Level: Level 1

Topic: Motivation
Series: MAY 2019, NOV 2019

BMIS – Nov 2019 – L1 – Q2bii – Intrinsic Rewards

Explain intrinsic rewards in relation to employee motivation.

Question

Explain the following in relation to the motivation of employees:
ii) Intrinsic rewards (2 Marks)

Answer

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Tags: Job Satisfaction, Motivation, Psychological Rewards
Level: Level 1

Topic: Motivation
Series: NOV 2019

BMIS – Nov 2019 – L1 – Q2c – Group Development Stages

Outline the stages of group development in an organizational context.

Question

Outline the stages of group development. (5 Marks)

Answer

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Tags: Group Development, Organizational Behavior, Team Formation
Level: Level 1

Topic: Teams
Series: NOV 2019

BMIS – NOV 2019 – L1 – Q3a – Mission Statement

Write a mission statement for Hard Leather Limited, a footwear manufacturing company with products for middle and upper classes.

Question

a) Hard Leather Limited is a footwear manufacturing company with a wide range of products for middle and upper classes.

Required: Write a mission statement for the company. (5 marks)

Answer

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Tags: Company objectives, Mission Statement, Strategic Planning
Level: Level 1

Topic: Introduction to Business Strategy
Series: NOV 2019

SCS – Nov 2020 – L3 – Q4a – Strategy implementation

Explain how effective collaboration can help the shareholders achieve the goals and objectives of GGOH.

Question

The shareholders of GGOH decided that they will at all times maintain four individuals as members of the Board, and the Chairmanship will alternate between the two shareholders every two years. This could be a potential for conflicts between the shareholders.

Required:
How can effective collaboration help them achieve the goals and objectives of GGOH? (10 marks)

Answer

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Tags: Collaboration, Conflict Resolution, Goals and objectives, Stakeholder Management, Teamwork
Level: Level 3

Topic: Strategy implementation
Series: NOV 2020

SCS – MAR 2024 – L3 – Q1b – Environment analysis

Identify key issues facing the Building and Construction industry in Ghana and West Africa using PESTLE.

Question

Prestige Designers Ltd, like other house builders, is facing difficult times. There has been a sharp decline in the number of homes over the past 6-8 years, and independent reports suggest that the numbers will fall even further in 2023.

Required: Using the PESTLE analysis, identify the key issues facing the Building and Construction industry in Ghana as well as that of the West African country. (10 marks)

Answer

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Tags: construction industry, environment analysis, PESTLE analysis
Level: Level 3

Topic: Environment analysis
Series: MAR 2024

SCS – MAR 2024 – L3 – Q1a – Strategy, stakeholders, and mission

Analyze the three levels of strategy being pursued by Prestige Designers Ltd.

Question

Johnson, Scholes, and Whittington identified three levels of strategy, namely corporate strategy, business strategy, and functional strategy. These strategies should be consistent with each other.

Required: In the light of the statements above, analyze the three levels of strategy being pursued by Prestige Designers Ltd. (10 marks)

Answer

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Tags: Business Strategy, Corporate Strategy, Functional Strategy, levels of strategy
Level: Level 3

Topic: Strategy, stakeholders, and mission
Series: MAR 2024

SCS – Nov 2020 – L3 – Q3 – Competitive advantage

Apply Ansoff's Product/Market Growth Matrix to assess GGOH’s potential market development opportunities.

Question

With the increasing competition in the hospitality industry, GGOH must adopt market development strategies to stay in or ahead of the competition. Apply Ansoff’s Product/Market Growth matrix to assess the extent of the potential market development opportunities available to GGOH. (10 marks)

Answer

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Tags: Ansoff’s matrix, Competition, Growth Strategies, Market Development
Level: Level 3

Topic: Competitive Advantage
Series: NOV 2020

SCS – Nov 2020 – L3 – Q2 – Environment analysis

Discuss how GGOH might fail to honor its financial obligations using a PESTEL analysis.

Question

The external environment within which GGOH operates has an influence on its financial position and financial performance both now and in the future. Using PESTEL analysis, discuss the view that GGOH might fail to honor its financial obligations. (10 marks)

Answer

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Tags: External Environment, Financial obligations, Financial Performance, PESTEL Analysis, Risk Assessment
Level: Level 3

Topic: Environment analysis
Series: NOV 2020

SCS – Nov 2020 – L3 – Q1 – Strategy, stakeholders and mission

Explain how the mission statement of GGOH can be made relevant to the future success of the organization.

Question

A mission statement can have several different purposes. In reference to the mission statement of GGOH, explain how management can make it relevant to the future success of the organization. (10 marks)

Answer

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Tags: Business Objectives, Management, Mission Statement, Strategy, Success
Level: Level 3

Topic: Strategy, stakeholders, and mission
Series: NOV 2020

SCS – Aug 2022 – L3 – Q8 – Controlling Risk

Explain the ISO 31000 risk management framework and the OECD principles relevant to Bazar's governance concerns.

Question

The Director of Finance and Operations, Mrs. Emma Owusu-Kwakye, is concerned about the lack of a “standardised risk management system” and “good corporate governance” at Bazar. Following Continuous Professional Development (CPD) training organised recently by the Institute of Chartered Accountants, Ghana (ICAG), on this subject and attended by you as a member of the Finance Team, duly paid for from Bazar’s training budget:

Required:
You have been asked by management to brief your finance team members on the following:

i) The International Standardisation for Organisation (ISO 31000) framework for risk management using the three (3) main elements. (5 marks)
ii) TWO (2) out of the Six OECD principles of Corporate Governance. (5 marks)

Answer

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Tags: Corporate Governance, ISO 31000, OECD principles, Risk Management
Level: Level 3

Topic: Controlling Risk
Series: AUG 2022

SCS – Aug 2022 – L3 – Q7 – Ethics and Social Responsibility

Explanation of remuneration policies in Ghana’s Code of Best Practices and their implications for corporate governance at Bazar.

Question

Remuneration packages should attract individuals to a company and persuade them to work for the company. Ghana’s Code of Best Practices makes three statements about remuneration policy. The Code adds that the remuneration level for individual directors should reflect their experiences and the level of responsibilities they undertake.

Required:
i) Explain the three statements about remuneration as stated in the Ghana’s Code of Best Practices policy to support Bazar management engagement with the General Welfare Committee (GWC). (6 marks)

ii) Explain to the management of Bazar why executive remuneration is a governance issue. (4 marks)

Answer

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Tags: Director Compensation, Executive Remuneration, Governance, Remuneration Policy
Level: Level 3

Topic: Ethics and social responsibility
Series: AUG 2022

SCS – Aug 2022 – L3 – Q6 – Strategy Implementation

Application of Lewin's change model to propose a transformation plan for Bazar's management style from authoritarian to a more open style.

Question

The management style of Bazar is in transition from a somehow authoritarian style described by some managers as almost autocratic and militaristic to a more ‘open’ style that encourages managers and supervisors to seek ideas from staff and to operate in an informal manner.

Required:
Using Lewin’s Model for Managing Change, (unfreeze, change, re-freeze) suggest an approach to introducing planned transformational change in the management style of Bazar.

Answer

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Tags: Change Management, Lewin's Model, Re-freezing, Transformation, Unfreezing
Level: Level 3

Topic: Strategy implementation
Series: AUG 2022

SCS – Aug 2022 – L3 – Q5 – Financial Management

Prepare Little Bee’s financial forecast and calculate its gearing ratios, explaining their significance to Bazar.

Question

Using the additional information presented by AB Consult & Associate to the Director of Finance and Operations, Mrs. Emma Owusu-Kwakye, on 4 August, prepare the following:

i) Little Bee new forecasted Statement of financial performance after the changes that will be discussed at the board meeting on the 5 August 2022. (4 marks)
ii) Calculate the operating gearing, measured as the ratio of the percentage increase in profit before interest and tax divided by the percentage increase in sales. (2 marks)
iii) Calculate the financial gearing, measured as the ratio of the percentage change in total earnings (or EPS) to the percentage increase in profit before interest and tax. (2 marks)
iv) Calculate the Combined gearing, measured as the ratio of the percentage change in total earnings (or EPS) to the percentage increase in sales. (2 marks)
v) Explain the significance of operating gearing and financial gearing to the management of Bazar. (10 marks)

Answer

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Tags: Business Valuation, Combined Gearing, Financial Forecast, Financial Gearing, Operating Gearing
Level: Level 3

Topic: Financial management
Series: AUG 2022

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PSAF – Nov 2020 – L2 – Q3a – The Budgeting Process in the Public Sector

Explain the factors militating against the budgeting system in the public sector.

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BMIS – Nov 2019 – L1 – Q1a – The Business Organization and its Stakeholders

Explain three business types available to individuals venturing into business.

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BMIS – Nov 2019 – L1 – Q1c – Organization culture in business

Explains centralization, decentralization, and three advantages of decentralization for a company.

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BMIS – Nov 2019 – L1 – Q1b – Characteristics of a Private Limited Company

Explain two characteristics of a private limited liability company.

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BMIS – Nov 2019 – L1 – Q2ai – Leadership Definition

Explain the term leadership in relation to its influence on group behavior.

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BMIS – Nov 2019 – L1 – Q2aii – Theories of Leadership

Explain the Trait, Style, and Contingency Theories of Leadership.

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BMIS – Nov 2019 – L1 – Q2bi – Extrinsic Rewards

Explain extrinsic rewards in relation to employee motivation.

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BMIS – Nov 2019 – L1 – Q2bii – Intrinsic Rewards

Explain intrinsic rewards in relation to employee motivation.

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BMIS – Nov 2019 – L1 – Q2c – Group Development Stages

Outline the stages of group development in an organizational context.

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BMIS – NOV 2019 – L1 – Q3a – Mission Statement

Write a mission statement for Hard Leather Limited, a footwear manufacturing company with products for middle and upper classes.

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SCS – Nov 2020 – L3 – Q4a – Strategy implementation

Explain how effective collaboration can help the shareholders achieve the goals and objectives of GGOH.

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SCS – MAR 2024 – L3 – Q1b – Environment analysis

Identify key issues facing the Building and Construction industry in Ghana and West Africa using PESTLE.

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SCS – MAR 2024 – L3 – Q1a – Strategy, stakeholders, and mission

Analyze the three levels of strategy being pursued by Prestige Designers Ltd.

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SCS – Nov 2020 – L3 – Q3 – Competitive advantage

Apply Ansoff's Product/Market Growth Matrix to assess GGOH’s potential market development opportunities.

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SCS – Nov 2020 – L3 – Q2 – Environment analysis

Discuss how GGOH might fail to honor its financial obligations using a PESTEL analysis.

You're reporting an error for "SCS – Nov 2020 – L3 – Q2 – Environment analysis"

SCS – Nov 2020 – L3 – Q1 – Strategy, stakeholders and mission

Explain how the mission statement of GGOH can be made relevant to the future success of the organization.

You're reporting an error for "SCS – Nov 2020 – L3 – Q1 – Strategy, stakeholders and mission"

SCS – Aug 2022 – L3 – Q8 – Controlling Risk

Explain the ISO 31000 risk management framework and the OECD principles relevant to Bazar's governance concerns.

You're reporting an error for "SCS – Aug 2022 – L3 – Q8 – Controlling Risk"

SCS – Aug 2022 – L3 – Q7 – Ethics and Social Responsibility

Explanation of remuneration policies in Ghana’s Code of Best Practices and their implications for corporate governance at Bazar.

You're reporting an error for "SCS – Aug 2022 – L3 – Q7 – Ethics and Social Responsibility"

SCS – Aug 2022 – L3 – Q6 – Strategy Implementation

Application of Lewin's change model to propose a transformation plan for Bazar's management style from authoritarian to a more open style.

You're reporting an error for "SCS – Aug 2022 – L3 – Q6 – Strategy Implementation"

SCS – Aug 2022 – L3 – Q5 – Financial Management

Prepare Little Bee’s financial forecast and calculate its gearing ratios, explaining their significance to Bazar.

You're reporting an error for "SCS – Aug 2022 – L3 – Q5 – Financial Management"

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