P3 Business Analysis (BA)
THE SECRET TO EXAM SUCCESS
This paper requires good use the quantitative data provided. Being able to interpret the information provided in the scenario in the context of some theoretical framework is another ingredient. Success with this paper will require lots of practice of scenario based questions.
To apply relevant knowledge, skills, and exercise professional judgement in assessing strategic position, determining strategic choice, and implementing strategic action through beneficial business process and structural change; coordinating knowledge systems and information technology and by effectively managing processes, projects, and people within financial and other resource constraints.
The syllabus for Paper P3, Business Analysis, is primarily concerned with two issues. The first is the external forces (the behaviour of customers, the initiatives of competitors, the emergence of new laws and regulations) that shape the environment of an organisation. The second is the internal ambitions and concerns (desire for growth, the design of processes, the competences of employees, the financial resources) that exist within an organisation. This syllabus looks at both of these perspectives, from assessing strategic position and choice to identifying and formulating strategy and strategic action. It identifies opportunities for beneficial change that involve people, finance and information technology. It examines how these opportunities may be implemented through the appropriate management of programmes and projects.
The syllabus begins with the assessment of strategic position in the present and in the future using relevant forecasting techniques, and is primarily concerned with the impact of the external environment on the business, its internal capabilities and expectations and how the organisation positions itself under these constraints. It examines how factors such as culture, leadership and stakeholder expectations shape organisational purpose. Strategic choice is concerned with decisions which have to be made about an organisation’s future and the way in which it can respond to the influences and pressures identified in the assessment of its current and future strategic position.
Strategic action concerns the implementation of strategic choices and the transformation of these choices into organisational action. Such action takes place in day-to-day processes and organisational relationships and these processes and relationships need to be managed in line with the intended strategy, involving the effective coordination of information technology, people, finance and other business resources.
Companies that undertake successful business process redesign claim significant organisational improvements. This simply reflects the fact that many existing processes are less efficient than they could be and that new technology makes it possible to design more efficient processes. Strategic planning and strategy implementation has to be subject to financial benchmarks. Financial analysis explicitly recognizes this, reminding candidates of the importance of focusing on the key management accounting techniques that help to determine strategic action and the financial ratios and measures that may be used to assess the viability of a strategy and to monitor and measure its success. Throughout, the syllabus recognises that successful strategic planning and implementation requires the effective recruitment, leadership, organisation and training and development of people.
On successful completion of this paper, candidates should be able to:
- Assess the strategic position of an organization
- Evaluate the strategic choices available to an organization
- Discuss how an organization might go about its strategic implementation
- Evaluate and redesign business processes and structures to implement and support the organization’s strategy taking account of customer and other major stakeholder requirements
- Integrate appropriate information technology solutions to support the organization’s strategy
- Advise on the principles of project management to enable the implementation of aspects of the organization’s strategy with the twin objectives of managing risk and ensuring benefits realization
- Analyse and evaluate the effectiveness of a company’s strategy and the financial consequences of implementing strategic decisions
- Assess the role of leadership and people management in formulating and implementing business strategy
- Lectures 18
- Quizzes 2
- Duration 15-25 hrs
- Skill level All levels
- Language English
- Students 18
- Certificate Yes
- Assessments Self
A thorough course that enabled me to learn at my own pace, have access to the instructor when needed and pass the exam. I received more than just a piece of the puzzle and than wonder how to incorporate it at the time of the exam. Very good tutors. Great course!
I did some lessons with both, Dimiter and Veronica I can say they are always prepared and very understanding. Most importantly, they helped me develop the critical skills needed to pass P3 exam (answer planning and writing skills). I am very pleased with Quantia tutoring service.
Best value for my money and time
This program was the key to my success in passing P2, P3 and P5 papers of the ACCA exam. The lectures were clear, precise, and addressed every topic on the actual exams.