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ISBN-10: 1472726812

ISBN-13: 9781472726810

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Consideration must also be given to the expectations of stakeholder groups that have a less formal relationship with the organisation. Stakeholder power and interest influence the direction in which strategy evolves, as do ethical issues. We will look at stakeholders in more detail in Chapter 5. 2 Strategic choices Strategic choices are made at both the corporate and business unit level. com customers and markets. At the corporate level, strategy is primarily about scope: this is concerned with the overall product/business portfolio, the spread of markets and the relationship between business units and the corporate centre.

They discern six general areas for decision-making that will normally be regarded as strategic. Strategic management in some organisations will take the form of adapting their activities to fit the business environment. 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.

In particular, political, social and economic affairs tend to be closely related. Do not spend too much time in the exam trying to categorise whether a factor is political, social, economic or so on. The important thing is that you recognise the relevant factors, not whether you get them in the right category. co m Note. The acronym PESTEL is sometimes replaced by SLEPT, in which the environmental protection aspect is folded into the other five, or even by STEEPLE, where the extra E stands for ethics.

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ACCA P3 Business Analysis: Study Text by BPP Learning Media

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ACCA P3 Business Analysis: Study Text - download pdf or read online
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