Series: AUG 2022

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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

SCS – Aug 2022 – L3 – Q4 – Competitive Advantage

Explains the five primary activities of Porter's value chain and their relevance to Bazar's business processes.

Question

Within an entity, there is a primary value chain and there are support activities (also called secondary value chain). Porter identified five primary value chain activities which can be applied to a retailing company such as Bazar.

Required:
Using the concept of the value chain, explain using a diagram the FIVE (5) primary value chain as explained by Porter to the management of Bazar highlighting their relevance. (10 marks)

Answer

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Tags: Business operations, Porter, Retail Industry, Strategic Success, Value Chain
Level: Level 3

Topic: Competitive Advantage
Series: AUG 2022

SCS – Aug 2022 – L3 – Q3 – Conflicts of interest and ethical conflict resolution

Explains whistleblowing and what an employee should consider before whistleblowing in Bazar.

Question

“Whistleblowing” means reporting suspicions of illegal or improper behaviour to a person in authority.

Required:
In relation to the comments above, explain to the Director of Human Resources and Organisational Culture, Mrs. Raju Asha, the consequences of comments recorded by an employee. Additionally, advise the employee on what he/she should consider before deciding on “blowing the whistle” and the potential difficulties that the staff might encounter.

Answer

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Tags: Corporate Governance, Ethics, Reporting, Unethical Behavior, Whistleblowing
Level: Level 3

Topic: Conflicts of Interest and Ethical Conflict Resolution
Series: AUG 2022

SCS – Aug 2022 – L3 – Q2 – Strategy Implementation

A report detailing the advantages of acquisition and mergers as a growth strategy versus internal development for Bazar.

Question

In discussing the report presented by AB Consult & Associate, the Director of Finance and Operations made a strong point for acquisition and mergers as a growth strategy instead of internal development. She gave her full support to the decision to acquire the 20 stores.

Required:
Write a report detailing the advantages of an acquisition and mergers method of growth instead of an internal development. Conclude your report by explaining why the financial position and financial performance of Bazar will support or not support the decision to acquire the 20 stores.

Answer

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Tags: Acquisitions, Financial strategy, Growth Strategy, Internal Development, Mergers
Level: Level 3

Topic: Strategy implementation
Series: AUG 2022

SCS – Aug 2022 – L3 – Q1b – Strategy implementation

Explanation of four organizational configurations identified by Mintzberg and their relevance in supporting change management at Bazar.

Question

Mintzberg identified six different organizational configurations. Explain to Bazar management FOUR (4) of these organizational configurations suitable to support the change management process highlighting the differences.

Answer

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Tags: Change Management, Mintzberg, Organizational Configurations
Level: Level 3

Topic: Strategy implementation
Series: AUG 2022

SCS – Aug 2022 – L3 – Q1a – Strategy, stakeholders, and mission

Explanation and illustration of Mintzberg’s five organizational building blocks and their relevance to Bazar's organizational structure.

Question

The organisational structure of Bazar is ‘family centric management’ while not interested
in changing the structure any time soon. It is important to recognise that the most suitable
organisation structure depends partly on circumstances and partly on management
preference. An organisation structure can therefore be changed.
Required:
Using the Mintzberg’s five building blocks for organizational configurations, explain and illustrate with a diagram to the management of Bazar, why management needs to review its current organization structure in order to coordinate its business activities and work processes effectively.

Answer

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Tags: Business Processes, Mintzberg, Organizational Coordination, Organizational Structure, Strategic Apex
Level: Level 3

Topic: Strategy, stakeholders, and mission
Series: AUG 2022

AA – Aug 2022 – L2 – Q5c – Completion Procedures and Reporting

Distinguishes between Emphasis of Matter and Other Matter paragraphs in the audit report and explains communication requirements.

Question

ISA 706 (Revised): Emphasis of Matter Paragraphs and Other Matter(s) paragraphs in the Independent Auditor’s Report requires that an auditor’s report may include an “emphasis of matter” paragraph and/or an “other matter” paragraph.

Required:
Distinguish between Emphasis of Matter and Other Matter paragraphs, showing clearly requirements of Audit Report and communication with those charged with governance.

Answer

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Tags: Audit report, Communication with Governance, Emphasis of Matter, ISA 706, Other Matter
Level: Level 2

Topic: Completion Procedures and Reporting
Series: AUG 2022

MA – Aug 2022 – L2 – Q1 – Other aspects of performance measurement

This question asks about the Balanced Scorecard concept, its differences from traditional measures, and benchmarking to improve company performance.

Question

Ancient Ltd is a company engaged in the assembling and selling of computers, mobile phones, and their accessories. This company has been the market leader for the last 5 years in this field but is now incurring losses due to decreasing demand and escalating production costs. Currently, the company evaluates its performance using financial measures. The managing director of Ancient Ltd has learned at a recently attended workshop that the concepts of Balanced Scorecard and Benchmarking could be used to improve the performance of organizations. It was also noted that the Balanced Scorecard should be considered at the strategic planning stage in order to set smart objectives.

Required:
a) Explain the concept of the Balanced Scorecard approach to performance measurement.
(2 marks)

b) State TWO (2) differences between the Balanced Scorecard and Traditional Performance measures.
(3 marks)

c) Explain the role of each perspective of the Balanced Scorecard approach at the strategic planning stage. (You are required to give an example of performance measures for each perspective.)
(8 marks)

d) How can the concept of benchmarking be used to improve the performance of Ancient Ltd.?
(3 marks)

e) Explain with an example, how benchmarking could be used to improve performance measures in relation to the customer perspective of Ancient Ltd’s Balanced Scorecard.
(4 marks)

Answer

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Tags: Balanced Scorecard, Benchmarking, Customer perspective, Financial measures, Internal Perspective, Performance Measurement, Strategic Planning
Level: Level 2

Topic: Other Aspects of Performance Measurement
Series: AUG 2022

BMIS – Aug 2022 – L1 – Q5b – Competitive advantage and strategic direction

Explains Michael Porter's three generic strategies for gaining competitive advantage.

Question

Michael Porter identified three broad generic strategies which he asserted an organisation can utilise to gain competitive advantage over other firms.

Required:

Explain these THREE (3) generic strategies.

Answer

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Tags: Business Strategy, Competitive Advantage, Generic Strategies
Level: Level 1

Topic: Competitive advantage and strategic direction
Series: AUG 2022

BMIS – Aug 2022 – L1 – Q5a – Introduction to information technology and information systems

Explains five operational improvements that an organization can achieve by investing in information and communications technology (ICT) systems.

Question

Quantum Manufacturing Ltd has invested GH¢1 million in information and communications technology systems to facilitate more effective operations which will result in operational improvements in their activities.

Required:

Explain FIVE (5) of such operational improvements.

Answer

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Tags: ICT Investment, Information Systems, Operational Efficiency
Level: Level 1

Topic: Introduction to information technology and information systems
Series: AUG 2022

BMIS – Aug 2022 – L1 – Q4b – HR – Other human resources functions

Explains five reasons why organizations are concerned about the health and safety of their employees.

Question

The outbreak of the COVID-19 pandemic caused many organisations to be more concerned about the health and safety of their employees.

Required:

Explain FIVE (5) reasons for this concern.

Answer

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Tags: Employee Health, HR Management, Workplace Safety
Level: Level 1

Topic: HR - Other Human Resources functions
Series: AUG 2022

BMIS – Aug 2022 – L1 – Q4a – Finance, R&D and marketing strategies

Differentiates between penetration pricing and skimming pricing strategies and outlines the circumstances for their use.

Question

Penetration pricing and Skimming pricing are the two main pricing strategies used by business organisations.

Required:

i) Differentiate between these two pricing strategies.
(4 marks)

ii) Outline THREE (3) circumstances for which each of these pricing strategies will be appropriate for use by a manufacturing company.
(6 marks)

Answer

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Tags: Marketing, Penetration Pricing, Pricing Strategies, Skimming Pricing
Level: Level 1

Topic: Finance, R&D and marketing strategies
Series: AUG 2022

BMIS – Aug 2022 – L1 – Q3b – Management and leadership

Explains the differences between leadership and management in a business context.

Question

Leadership and Management are two terms often used interchangeably by both business practitioners and academicians.

Required:

As a resource person to a group of accounting students preparing for examinations in Business Management and Information Systems, explain FIVE (5) ways in which the two terms differ from each other.

Answer

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Tags: Leadership, Management, Organizational Behavior
Level: Level 1

Topic: Management and leadership
Series: AUG 2022

BMIS – Aug 2022 – L1 – Q3a – Business and organisational structure

Explains the benefits an organization would gain from integrating all of its operations.

Question

Integrating the operations of an organization is a decision that many find difficult to make as it is possible to find architectures that adapt to different requirements. Despite this, business integration is a necessity because of the success and benefits it brings to corporations and businesses.

Required:

Explain FIVE (5) benefits an organization would gain from integrating all of its operations.

Answer

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Tags: Business Integration, Cost reduction, Operational Efficiency
Level: Level 1

Topic: Business and Organisational Structure
Series: AUG 2022

BMIS – Aug 2022 – L1 – Q2b – The external environment

Explains demand-pull and cost-push inflation and outlines strategies the government can implement to address negative macroeconomic conditions.

Question

The outbreak of the COVID-19 pandemic resulted in most countries experiencing negative macroeconomic conditions such as demand-pull inflation or cost-push inflation. These conditions have caused governments in both developed and developing countries to implement actions to mitigate the associated effects.

Required:

i) Explain these TWO (2) types of inflation.
(4 marks)

ii) Explain THREE (3) strategies the government of Ghana can implement to address these negative macroeconomic conditions.
(6 marks)

Answer

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Level: Level 1

Topic: The external environment
Series: AUG 2022

BMIS – Aug 2022 – L1 – Q2a – The business organisation and its stakeholders

Explains the concepts of mission, vision, values, strategy, and objectives as they relate to a business organization.

Question

Explain the following as they relate to a business organisation:

i) Mission
ii) Vision
iii) Values
iv) Strategy
v) Objective

Answer

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Tags: Mission, Objectives, Strategy, Values, Vision
Level: Level 1

Topic: The Business Organisation and its Stakeholders
Series: AUG 2022

BMIS – Aug 2022 – L1 – Q1b – Business and organisational structure

Defines centralization and explains the benefits of centralizing operations in an organization.

Question

Alpha & Omega Ltd, a medium-sized company with branches throughout the country, has decided to close many of its loss-making outlets after which it will centralize its operations instead of branch managers taking decisions.

Required:

i) Define centralization.
(2 marks)

ii) Explain FOUR (4) benefits Alpha & Omega will gain in centralizing its operations.
(8 marks)

Answer

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Tags: Centralization, Decision Making, Organizational Structure
Level: Level 1

Topic: Business and Organisational Structure
Series: AUG 2022

Series: AUG 2022

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SCS – Aug 2022 – L3 – Q8 – Controlling Risk

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

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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.

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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.

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SCS – Aug 2022 – L3 – Q5 – Financial Management

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

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SCS – Aug 2022 – L3 – Q4 – Competitive Advantage

Explains the five primary activities of Porter's value chain and their relevance to Bazar's business processes.

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SCS – Aug 2022 – L3 – Q3 – Conflicts of interest and ethical conflict resolution

Explains whistleblowing and what an employee should consider before whistleblowing in Bazar.

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SCS – Aug 2022 – L3 – Q2 – Strategy Implementation

A report detailing the advantages of acquisition and mergers as a growth strategy versus internal development for Bazar.

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SCS – Aug 2022 – L3 – Q1b – Strategy implementation

Explanation of four organizational configurations identified by Mintzberg and their relevance in supporting change management at Bazar.

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SCS – Aug 2022 – L3 – Q1a – Strategy, stakeholders, and mission

Explanation and illustration of Mintzberg’s five organizational building blocks and their relevance to Bazar's organizational structure.

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AA – Aug 2022 – L2 – Q5c – Completion Procedures and Reporting

Distinguishes between Emphasis of Matter and Other Matter paragraphs in the audit report and explains communication requirements.

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MA – Aug 2022 – L2 – Q1 – Other aspects of performance measurement

This question asks about the Balanced Scorecard concept, its differences from traditional measures, and benchmarking to improve company performance.

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BMIS – Aug 2022 – L1 – Q5b – Competitive advantage and strategic direction

Explains Michael Porter's three generic strategies for gaining competitive advantage.

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BMIS – Aug 2022 – L1 – Q5a – Introduction to information technology and information systems

Explains five operational improvements that an organization can achieve by investing in information and communications technology (ICT) systems.

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BMIS – Aug 2022 – L1 – Q4b – HR – Other human resources functions

Explains five reasons why organizations are concerned about the health and safety of their employees.

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BMIS – Aug 2022 – L1 – Q4a – Finance, R&D and marketing strategies

Differentiates between penetration pricing and skimming pricing strategies and outlines the circumstances for their use.

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BMIS – Aug 2022 – L1 – Q3b – Management and leadership

Explains the differences between leadership and management in a business context.

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BMIS – Aug 2022 – L1 – Q3a – Business and organisational structure

Explains the benefits an organization would gain from integrating all of its operations.

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BMIS – Aug 2022 – L1 – Q2b – The external environment

Explains demand-pull and cost-push inflation and outlines strategies the government can implement to address negative macroeconomic conditions.

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BMIS – Aug 2022 – L1 – Q2a – The business organisation and its stakeholders

Explains the concepts of mission, vision, values, strategy, and objectives as they relate to a business organization.

You're reporting an error for "BMIS – Aug 2022 – L1 – Q2a – The business organisation and its stakeholders"

BMIS – Aug 2022 – L1 – Q1b – Business and organisational structure

Defines centralization and explains the benefits of centralizing operations in an organization.

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