[15:11:43]  ysbq: Reference purposes we will be doing Syllabus ref. A-5 which is chapter 3 in kaplan relating to internal resources and capabillity
[15:11:59]  ysbq: okay we will start with CSF
[15:12:06]  ysbq: what are Csf?
[15:12:18]  sue888: critical sucessful factor
[15:12:37]  ysbq: yes describe them plpz.
[15:12:41]  potter2009: ways in which a company can gain competitive advantage
[15:12:57]  potter2009: to be successful
[15:13:12]  yaroslava: performance reqments that a fundamental for the org's success
[15:13:14]  ysbq: yes
[15:13:55]  yaroslava: say, those product features that are valued by the customer
[15:14:22]  yaroslava: this is where the org must outperform its rivals
[15:15:00]  ms1689: an organisation identifying what their competence is and use these to make their customers happy.
[15:15:52]  ysbq: crticial success factors are performance requirement that are important for the organisation to achieve, if it wants to out perform its competitors ,and the achievement of CSF help the organisation to achieve competitive edge in its products and services
[15:16:39]  ysbq: which customers value
[15:16:51]  ysbq: does that sum up all?
[15:17:04]  savvy2012: yeah
[15:17:07]  yaroslava: yep
[15:17:30]  ysbq: good okay lets have a partical aspect of this
[15:17:45]  ysbq: there are different CSFs in different industries
[15:18:04]  ysbq: wht would be CSF in airline industry?
[15:18:48]  savvy2012: to be able to perform flights on time
[15:19:01]  ysbq: remember first of all we have to see what airline consumers value the most
[15:19:03]  savvy2012: have good customer serviice
[15:19:05]  potter2009: to cut down the checking in time for passengers?
[15:19:10]  sue888: cost efficiency ( low cost of operatiing)
[15:19:23]  ysbq: {savvy2012} {sue888} {potter2009} good these are all CSFs
[15:19:25]  ms1689: punctuality
[15:19:38]  ms1689: landing on time
[15:19:45]  yaroslava: top customer relationship management
[15:19:54]  savvy2012: not srashing planes :)
[15:19:57]  ms1689: reliability
[15:20:01]  savvy2012: crashing
[15:20:32]  savvy2012: good equipment on boeard, e.g. individual screens for tv and games
[15:20:39]  savvy2012: board*
[15:21:25]  yaroslava: cost efficiency to outplay rivals
[15:21:31]  ysbq: so a typical cusotmer would want safety, puntuality , cost efficiency (=lower ticket prices) and exclusive treatment on board like wht savvy suggested
[15:21:34]  sue888: dpends on long haul or short haul as well
[15:22:02]  ysbq: this has been a example of service industry
[15:22:22]  ysbq: now lets take an example of product industry
[15:22:55]  ysbq: what would be critical success factors for fast moving cosumer goods
[15:22:59]  ysbq: ?
[15:23:32]  potter2009: being able to provide a range of goods that custimers require
[15:23:38]  ms1689: quality product
[15:23:38]  potter2009: ie normal or organic
[15:24:11]  ysbq: {potter2009} okay that would be extensive product range
[15:24:14]  yaroslava: the critical success factor is to ensure a valuable product to customers is produced at low costs, product differentiations will be equally good here
[15:24:15]  sue888: low price high quality
[15:24:16]  savvy2012: good quality for low price
[15:24:52]  potter2009: maintaining or decreasing waste
[15:25:02]  yaroslava: provided a product that the customer wants and is willing to pay for it
[15:25:09]  savvy2012: also customers may value if product is environmentally friendly, e.g. cups, bottles in which product is sold
[15:25:32]  savvy2012: {potter2009} yeah thats what i was trying to say
[15:25:41]  potter2009: watching what other competitiors are charging are the same products
[15:26:10]  potter2009: for th same products
[15:26:32]  ms1689: staying ahead of its competitors like innovation, improving the product constantly
[15:26:38]  savvy2012: health effects from product, e.g. drink containing some vitamins
[15:26:52]  ysbq: good quality , low price, availability in different proportion on convienence, use of sustainable inputs in production, and health consideration
[15:27:11]  ysbq: sums up all i gues
[15:27:17]  potter2009: agree
[15:27:18]  sue888: yes
[15:27:34]  ms1689: yes
[15:28:20]  ysbq: okay within the same industry the CSF could be different, can anybody tell how
[15:28:51]  sue888: depends on if they are cost leader or product differentiate
[15:29:12]  savvy2012: different segments of the market, e.g. basic products, more luxiry product, different age groups
[15:29:25]  ysbq: {savvy2012} good u got the point
[15:29:29]  sue888: or focus group
[15:29:40]  yaroslava: {sue888} or if a company is focusing on a given segment
[15:29:51]  yaroslava: of the market
[15:30:15]  potter2009: if they are competing with larger firms
[15:30:28]  ysbq: different segements different customers, hence different tastes and preferences whch they value resulting in different CSFs
[15:30:51]  yaroslava: yes
[15:32:05]  ysbq: there is the performance pyramid in book (kaplan) have a look
[15:34:07]  ysbq: objectives - CSFs - KPIs
[15:34:44]  ysbq: objectives - CSFs - KPIs - Activities
[15:35:29]  ysbq: now taking the example of fast moving cosumer goods
[15:36:04]  ysbq: objective could be , to be a market leader by satisfying more and more customers
[15:36:42]  ysbq: CSF would be effective pricing of product
[15:37:41]  ysbq: KPIs would be increase in market share on quarterly basis
[15:37:45]  ms1689: {ysbq} it seems too broad as an objective
[15:38:03]  ysbq: {ms1689} market share
[15:38:48]  ysbq: another KPI would be reduction in wastages in production process
[15:40:27]  ysbq: while activities relating to these would be following standarised procedures (industry best practices) for production
[15:41:14]  ysbq: all agree with my example.......
[15:42:04]  yaroslava: yes
[15:42:17]  savvy2012: yeah
[15:42:24]  potter2009: yes
[15:42:25]  sue888: yes
[15:42:29]  ms1689: yes
[15:42:39]  ysbq: do u guys need 5 min reading time
[15:42:54]  yaroslava: no. why?
[15:43:09]  ysbq: it has got a lot of expandable text in book
[15:43:24]  savvy2012: i dont even have text book :)
[15:43:31]  ysbq: {savvy2012} oh
[15:43:34]  sue888: me neither
[15:43:49]  ysbq: ok lets move on
[15:43:56]  yaroslava: me too, lets just move on
[15:44:15]  savvy2012: {ysbq} lol u have all pupils without textbooks :)
[15:44:37]  ysbq: this would attract some spanking
[15:44:39]  ysbq: ;)
[15:44:46]  savvy2012: lol
[15:45:12]  yaroslava: i have bpp text and lsfb stuff plus ot..we are all good
[15:45:47]  savvy2012: {yaroslava} ur just saying it cause u dont want to be spanked
[15:46:09]  yaroslava: {savvy2012} perhaps, got to be clever
[15:46:24]  ysbq: okay ur examiner is in love with charities, he makes long case study on these, lets discuss the performance pyramid for these
[15:47:20]  savvy2012: Objectives - to satisfy the needs of certain part of society?
[15:47:28]  ysbq: lets pick a organisation that helps the elderly people
[15:47:37]  potter2009: help the aged
[15:47:53]  sagesse: hello
[15:48:04]  savvy2012: so objective is to have more elderly people fed, cloths and entertained
[15:48:05]  sagesse: seesion in progress
[15:48:11]  ysbq: {savvy2012} yes
[15:48:15]  ysbq: {sagesse} yes
[15:48:49]  potter2009: and with adequate housing/ care facilities
[15:49:03]  yaroslava: to ensure their daily activities of living a met
[15:49:06]  savvy2012: CSF is .. to give good quality service to elderly ppl?
[15:50:00]  potter2009: kpi - number of complaints regarding poor service
[15:50:04]  sue888: to offer value for money service to older people
[15:50:24]  yaroslava: help them leave the same way as they will in their own environment, lets say they are in a nursing home
[15:50:25]  ysbq: {savvy2012} good medical facilty, serene environment
[15:50:57]  yaroslava: basically keep them happy and wanted
[15:51:23]  yaroslava: feel wanted by the society
[15:51:32]  savvy2012: {ysbq} is that CSF?
[15:52:34]  yaroslava: we done with objective right?
[15:52:50]  ysbq: i meant customer safiscation from provision of regular and up to date medical facilities
[15:53:11]  yaroslava: {ysbq} sounds like a CSF
[15:53:20]  sue888: afforderable nursing home is CSF?
[15:53:41]  ysbq: {sue888} yes
[15:54:31]  ysbq: KPis any one
[15:54:43]  potter2009: kpi - number of complaints regarding poor service
[15:54:47]  sue888: complains
[15:55:00]  sue888: turn over rate
[15:55:12]  yaroslava: Number of pple wanting that charitable service
[15:55:22]  potter2009: the number of elderly people on waiting lists to be housed
[15:55:26]  savvy2012: number of meals provided a day
[15:55:27]  sue888: total numbers/ total avaible space
[15:56:04]  potter2009: cost per person
[15:56:19]  yaroslava: Feedback on the service provided
[15:56:25]  potter2009: vs donations received
[15:57:56]  ysbq: room occupancy rates, turnover rates, complaints percentage as compared to previous months, increase in recommedationd from health sector instittutions ,  increase in donor base,
[15:58:16]  ysbq: factors such as those
[15:59:00]  ysbq: all agree
[15:59:10]  yaroslava: absolutely
[15:59:14]  savvy2012: ye
[15:59:27]  sue888: yes
[15:59:51]  potter2009: yup
[15:59:51]  ysbq: okay what abt actvities?
[16:00:15]  ysbq: that would be there to achieve those Kpis
[16:00:42]  sue888: training
[16:00:45]  yaroslava: expanding the facilities to meet demand
[16:01:01]  ysbq: like rigourous complaint handling service or procedures
[16:01:18]  sue888: buy up to date facilities
[16:01:23]  ysbq: {sue888} yes
[16:01:26]  potter2009: widening the locations where donations are received
[16:01:53]  ysbq: {potter2009} yes
[16:02:02]  yaroslava: reduce waiting list
[16:02:27]  potter2009: bu having more/ attracting volunteers
[16:02:43]  yaroslava: give feed back leaflets
[16:03:34]  ysbq: {potter2009} yes and imparting appropriate training to workforce for capacity building
[16:04:14]  ysbq: efficient and transparent  reporting  could be one
[16:04:23]  ysbq: to attract more donors
[16:04:25]  ysbq: all agree
[16:04:32]  sue888: yes
[16:04:34]  savvy2012: yes
[16:05:05]  ysbq: well ur examiner love is conquered to some extent i guess
[16:05:49]  ysbq: Next topic Strategic capabilities , resources and competences
[16:06:17]  ysbq: what is Strategic capabilitiy?
[16:07:02]  ms1689: having the resource and compentence to use it
[16:07:24]  yaroslava: Threshold capabilities plus capabilities for competitive advantage
[16:07:30]  potter2009: having the resources to carry out mgmt objectives
[16:07:38]  ysbq: generally what is capability?
[16:07:42]  ysbq: general definition
[16:08:00]  savvy2012: being able to do something
[16:08:02]  potter2009: being able to do something
[16:08:08]  sue888: the ability to do something
[16:08:14]  yaroslava: the ability of the org to produce goods and services
[16:08:15]  savvy2012: {potter2009} ;) great minds think alike
[16:08:21]  potter2009: lol
[16:08:46]  ysbq: yes ... capacity to do or perform some action
[16:09:08]  ysbq: now how this capacity is developed or possessed?
[16:09:34]  savvy2012: By owing things
[16:09:40]  savvy2012: owning
[16:09:52]  ms1689: we need the resources to do the action, eg assets
[16:10:08]  sue888: knowledge management
[16:10:16]  yaroslava: its is developed by having resources available to carry out a task and also the competences to use those resource to achieve the task
[16:10:24]  ms1689: like cash or machinery, tangible assets
[16:11:11]  ysbq: yes but resources alone or ownership would be no good , we need competence to effectively utilise those resources
[16:11:14]  ysbq: {yaroslava} agree
[16:11:36]  potter2009: like competent people to carry out the work?
[16:11:43]  ysbq: so capability = resources + competency
[16:12:10]  potter2009: ok
[16:12:13]  yaroslava: yes
[16:14:01]  savvy2012: {ysbq} yes
[16:14:29]  ms1689: yep
[16:14:30]  ysbq: so strategic capability would be to have suitable and appropriate resources and competencies so that the organisation could survive and prosper
[16:14:55]  ysbq: ok
[16:15:11]  ysbq: difference between survival and prosperity
[16:15:12]  ysbq: ?
[16:15:42]  ms1689: survival would be to just breakeven, to do ok
[16:16:32]  ysbq: survival is the  minimal level of operation and prosperity would be competing and trying to achive the top position
[16:16:38]  ms1689: prosperity would be to do better than competitors
[16:16:43]  potter2009: prosperity is finding core competences to keep the business successfull
[16:17:11]  ms1689: by having the competitive advantage
[16:17:54]  ysbq: so if an organisation is on survival mode , this means that it would have the minimal capabilities (threshold capabilities)
[16:18:06]  yaroslava: {ysbq} survival need basic resources and threshold competencies
[16:18:33]  yaroslava: prosperity call for unique resources and core competences
[16:19:10]  ysbq: {yaroslava} u r right , i was trying to go in step by step approach
[16:19:26]  yaroslava: {ysbq} my bad, go on
[16:19:47]  ysbq: for minimal capabiliy u need minimal resources and mininal competency
[16:19:55]  potter2009: so i was right
[16:20:07]  yaroslava: {potter2009} yes
[16:20:14]  potter2009: wow that was a guess
[16:21:22]  ysbq: but when u what to compete and gain ground against rivals , in that case u must have competive advantage and it coulld only be achived if u have unquie resources and core competences
[16:24:42]  ysbq: like apple has competitive advantage, this means that their uniques resources are there exclusively groomed business managers and their core competences would be R&D department
[16:25:12]  ysbq: any one agrees?
[16:25:19]  sue888: yes
[16:26:25]  ysbq: unique resources in above example could be brand
[16:26:27]  ysbq: also
[16:27:03]  ysbq: okay what are unique resources?
[16:27:34]  yaroslava: Apple,s resource are unique in the sense that they can not easly be copied by the rivals and  are rare  and robust
[16:28:10]  ysbq: {yaroslava} good this means that they are the reason why apple has competitve advantage
[16:28:26]  yaroslava: yes
[16:28:41]  ysbq: because others cannot immitate and obtain
[16:29:35]  yaroslava: for example their skilled labobour, their reputation and knowledge.. how does a rival copy that
[16:29:52]  ysbq: yes
[16:30:00]  ysbq: well china is an exception, i hope no one here is from china , they have the ability of copy anything :)
[16:30:04]  potter2009: and its non substituable due to patents even though other companies try
[16:30:19]  ysbq: {potter2009} yes legal restrictions
[16:30:25]  sue888: dont be agressive
[16:30:32]  sue888: aggressive
[16:30:47]  ysbq: {sue888} sorry abt that
[16:30:49]  yaroslava: {ysbq} true i think they thried with apple recently and there a legal proceedings going on.
[16:30:51]  sue888: :)
[16:30:59]  sue888: yes
[16:31:12]  sue888: possiblly the Chinese company will win the case
[16:31:21]  ysbq: lol
[16:31:31]  sue888: lol
[16:31:37]  ysbq: okay lets move to core competences
[16:31:48]  ysbq: what are they?
[16:31:57]  savvy2012: {ysbq} my housemate is chinese. :)
[16:32:56]  savvy2012: {ysbq} Competences are things that organisation does, things that our organisation is best at.
[16:33:13]  yaroslava: they are a special way in which a successful co can marshal its resources to perform better than vthe competition
[16:33:41]  ysbq: {savvy2012} {yaroslava} so how does a company do that
[16:33:57]  potter2009: with skilled workforce
[16:34:15]  potter2009: specially skilled
[16:34:31]  sue888: cost control
[16:35:04]  potter2009: innovation
[16:35:06]  ms1689: innovation
[16:35:09]  potter2009: lol
[16:35:14]  ysbq: lets use the work sophisticated workforce, good corporate culture and having good knowledge management systems
[16:35:23]  ms1689: :)
[16:35:28]  potter2009: thats thats the word i was looking for
[16:35:36]  ysbq: good corporate culture that inculcate innovaion
[16:35:45]  yaroslava: because  they are more difficulty to identify, specifiy and emulate and can not be simply can not be bought in a competency store
[16:36:09]  yaroslava: here is an example
[16:38:32]  yaroslava: Microsoft and Apple might have the same resources but there is something special and innovative abt Apple which allows it to be uniquely successful and hence devices like Ipad, iphone, ipod, i tune are out there for us to ejoy...now thus a core competency.
[16:39:52]  yaroslava: it is difficult to analyse what apple's distinctive competences are.
[16:40:02]  ysbq: so apple has a core competency of sophisticated IT workforce
[16:40:18]  yaroslava: and hence a competitive advantage for them
[16:40:19]  sue888: innovative culture
[16:40:27]  ysbq: and it has a unique resource has a brand
[16:40:29]  yaroslava: {ysbq} yes
[16:40:30]  ysbq: {sue888} yes
[16:40:44]  ysbq: okay now lets move on
[16:42:23]  ysbq: what  organisations should do if the organisation does not have sufficient resources to carry out its plans to achieve lon term success and competitive advantage
[16:42:24]  ysbq: ?
[16:42:39]  ysbq: now this the practical aspect
[16:43:21]  savvy2012: get a loan..
[16:43:51]  yaroslava: {ysbq} please rephrase your question
[16:43:54]  sue888: or think to do something else which require less resources
[16:43:55]  savvy2012: or change industry in which they will be able to afford to have competitive advantage,
[16:43:58]  potter2009: look at acquiring other companies that could help achieve those goals
[16:43:59]  savvy2012: review their startegy
[16:45:08]  savvy2012: {potter2009} yeah or look at selling compnay to more cussessful company which could utilise your resources to be successful
[16:45:26]  potter2009: true
[16:45:34]  savvy2012: or merge with other company which doesn't have enough resources  as well and if in combination you will manage to do well
[16:45:47]  ysbq: {yaroslava} suppose u are in an industry and u do not have the capability to meet ur organisation dreams (like long term success and competitve advantage). So what would u do?
[16:46:19]  ysbq: guys use this equation
[16:46:21]  ysbq: capability = resources + competency
[16:46:47]  potter2009: look at other industries that could expand the business
[16:47:03]  ysbq: {potter2009} might not be rational decision
[16:47:34]  savvy2012: ok..maybe use competencies of the business (e.g. work sophisticated qworkforce) to make best use of the resourses and to be able to maximise them to make company successful
[16:47:43]  potter2009: like AA sells car insurance but also sells loans
[16:47:44]  savvy2012: improve company culture
[16:47:59]  savvy2012: improve manufacturing processes
[16:48:14]  savvy2012: {potter2009} you mean diversifying
[16:48:25]  ysbq: since u have threshold capabililty and switching industry would be mean to start from scratch
[16:48:40]  ysbq: savvy2012: improve manufacturing processes
[16:48:40]  potter2009: not necessarily
[16:48:51]  potter2009: if there are comapnies you join forces with
[16:49:10]  ysbq: guys improves ur resources
[16:49:29]  ysbq: and identify the lack of resources by positon audit
[16:49:41]  ysbq: resources are 7 M's
[16:49:59]  potter2009: oh
[16:50:55]  ysbq: the train to succes in exam is only one and that train uses business analysis models
[16:50:56]  ysbq: ;)
[16:51:14]  yaroslava: Try and use the minimum resouces to function and minimum competences to compete but  maybe the big guns might out muscle you in terms of investment, product development and marketing.
[16:52:29]  yaroslava: so threshold capabilties plus capabilities for competitive advantage is a combination for properity here or move on
[16:53:16]  ysbq: {yaroslava} that could be the case but would not u wanna increase and improve ur resource base before, being knocked out
[16:53:23]  yaroslava: to other industries but this also depend if you strategy is position based or resources based
[16:53:58]  yaroslava: {ysbq} i suppose
[16:54:29]  ysbq: so wht i am trying to say is that u wil consider and improve the M's of business
[16:54:32]  ysbq: money
[16:54:35]  ysbq: management
[16:54:40]  ysbq: manpower
[16:54:44]  yaroslava: guys what does competitive advantage mean?
[16:54:45]  ysbq: manufactuirng
[16:54:51]  ysbq: markets
[16:54:57]  ysbq: materials
[16:55:10]  ysbq: is/IT makeup
[16:55:11]  sue888: skills
[16:55:17]  ysbq: brand makeup
[16:55:23]  potter2009: mamgt info
[16:55:30]  ysbq: {sue888} manpower is skills
[16:55:32]  potter2009: money
[16:55:34]  sue888: yes
[16:55:36]  potter2009: men and women
[16:55:57]  ysbq: {potter2009} ?
[16:56:09]  potter2009: same as manpower
[16:56:09]  sue888: method ( process)
[16:56:23]  ysbq: {sue888} that is manufacturing
[16:56:40]  yaroslava: other non-M is Knowhow
[16:56:46]  ms1689: brand
[16:56:55]  potter2009: they all start with M
[16:56:59]  sue888: Machinery
[16:57:00]  ysbq: {ms1689} brand makeup
[16:57:01]  ysbq: yes
[16:57:18]  ysbq: Make up of brand
[16:57:29]  ysbq: Make up of IT/IS function
[16:57:52]  ms1689: {ysbq} yes
[16:58:18]  ms1689: so, they are kind of 10
[16:58:23]  ysbq: {sue888} would it come under manufacturing
[16:58:38]  ysbq: {ms1689} 7 let  me list again
[16:58:42]  ysbq: 1. money
[16:58:50]  ysbq: 2. management
[16:58:52]  ms1689: 7 Ms plus IT, brand and know how
[16:59:05]  ysbq: 3. manpower
[16:59:14]  ysbq: 4. manufacturig
[16:59:21]  ysbq: 5. markets
[16:59:28]  ysbq: 6. materials
[16:59:44]  ysbq: 7, Makeup of brand and makeup of IS/IT
[16:59:47]  yaroslava: {ms1689} thus the two non-M ones but the are 9 Ms besides these
[17:00:00]  ms1689: what about marketing
[17:00:11]  potter2009: carry on ysbq
[17:00:41]  ysbq: {ms1689} can marketing be termed as resources
[17:00:50]  ysbq: it is a fuction
[17:00:53]  yaroslava: 8. methods
[17:01:01]  ysbq: {yaroslava} yeah
[17:01:20]  ms1689: {ysbq} yes, it is for example expertise to sell
[17:01:29]  yaroslava: 9 markets
[17:01:55]  savvy2012: {yaroslava} yes markets (products)
[17:02:05]  yaroslava: yes
[17:02:11]  ysbq: {ms1689} that would be under manpower
[17:02:19]  ms1689: my boss is for example very good in pitching...winning big contracts
[17:02:38]  ms1689: and that is marketing
[17:03:17]  ysbq: {ms1689} this means the our organisation has good manpower that have requisite skills to fetch contracts
[17:03:45]  ms1689: {ysbq} ok
[17:04:20]  yaroslava: but guys the book list them as ysbq has done, you interpretation matters in the exam
[17:04:31]  ysbq: {yaroslava} exactly
[17:05:40]  ms1689: {ysbq} so are you saying that they are 8?
[17:05:56]  yaroslava: mind you this is a mixture of resources and competences that a company has
[17:06:28]  yaroslava: {ms1689} go back to the list, look
[17:06:34]  potter2009: 9. men & women
[17:06:49]  ysbq: http://www.slideshare.net/jobitonio/7-ms-of-management  
[17:06:50]  yaroslava: {potter2009} thus manpower
[17:07:00]  ysbq: look at  this slide for 5 min
[17:07:11]  ysbq: to aid ur understanding
[17:07:25]  ysbq: i will back after 5 min
[17:08:58]  potter2009: so their the resoucres and capabilities an org needs to acheieve strategic capabilitiy
[17:09:01]  potter2009: right?
[17:10:26]  ysbq: wait
[17:10:46]  ysbq: i want u to see SA article instead of that
[17:11:52]  yaroslava: 1, machinery2. money.3 material.4 manpwer (male, female}, 5.make-up{culture}6. markets,7.management.8.managemnt of info,9 methods Non M knowhow{meaning core competencies at something}
[17:12:55]  potter2009: But we use that just as a checklist.  and then the strategic capabilities can be either position based or reousce based
[17:15:20]  yaroslava: the book says these are resource that aid strategic planning, if you dont have these you abandon the plan or get them.
[17:16:49]  ysbq: http://www.accaglobal.com/en/student/qualification-resources/acca-qualification/acca-exams/p3-exams/exams-p33/strategic-planning.html  
[17:17:01]  ysbq: yes this articles i wil be back in 5 min
[17:25:03]  vijayk: hello room
[17:25:47]  ysbq: ok i am back
[17:26:42]  ysbq: have we done SWOT analysis before
[17:27:17]  yaroslava: its part of this topic area
[17:27:35]  yaroslava: {ysbq} good article do you have anymore?
[17:28:15]  ysbq: all p3 articles are here
[17:28:18]  ysbq: http://www.accaglobal.com/en/student/qualification-resources/acca-qualification/acca-exams/p3-exams/exams-p33.html  
[17:28:46]  yaroslava: ok
[17:31:15]  ysbq: People favourite topic
[17:31:18]  ysbq: SWOT
[17:31:36]  ysbq: what is SWOT analysis
[17:31:45]  ysbq: ?
[17:32:22]  savvy2012: its a way of anlysing internal and external environment
[17:32:27]  ysbq: yes
[17:32:47]  ysbq: that are internal and what are external in SWOt
[17:33:07]  savvy2012: S&W are internal O&T are external
[17:33:47]  yaroslava: Once the org has analysed its ext and int environment is should be able to identify its O&T AND iTS S&w
[17:34:00]  ysbq: so SWOt is a model for corporate appriasal
[17:34:53]  ysbq: in which internal Strenght and weaknesses are determined and external oppourtunities and Threats are analysed
[17:35:14]  yaroslava: yes
[17:35:19]  ysbq: So how do organisations use SWOT analysis?
[17:36:04]  savvy2012: they use it to create strategy
[17:36:20]  yaroslava: Say if they want to enter into a new market or if there is a potential entrant into thier market
[17:36:37]  savvy2012: to design best approach of  utilising strenghth and reducing weaknesses, react to ooportunities and threats
[17:36:39]  ysbq: {savvy2012} i am afraid it is a vague answer
[17:36:48]  savvy2012: :)
[17:36:51]  yaroslava: Takeover a company or competitor
[17:37:20]  ysbq: {yaroslava} nope
[17:37:27]  ysbq: here it is how it is done
[17:37:33]  yaroslava: Maybe a company want to expand abroad
[17:37:52]  ysbq: a company will list all its strenghts
[17:38:08]  yaroslava: {ysbq} for everything i have stated you have to look at the swot analysis to see if its viable
[17:38:36]  ysbq: and then it will identify all its oppourtunities
[17:38:52]  yaroslava: {ysbq} ???
[17:39:31]  ysbq: after that it will try to match the oppourtunities with the right strenghts to expoloit the,
[17:39:33]  ysbq: thme
[17:39:35]  ysbq: them
[17:40:28]  ysbq: if u have an oppourtunity and u do not have the right stenght to persue , it is of no benefit
[17:40:43]  yaroslava: for you do want you are saying you would have looked at those options mentioned above first right?
[17:41:54]  ysbq: {yaroslava} those are the actions that will be done after analysis
[17:43:06]  ysbq: i hope i am making my point
[17:43:15]  ysbq: {yaroslava}  u agree??
[17:43:38]  yaroslava: i am geting you. yes
[17:44:01]  yaroslava: your question was How and i got it all wrong
[17:44:27]  ysbq: okay now next we will try to neutralise weakness and convert them into strengths.
[17:44:33]  ysbq: How we will do that
[17:44:40]  ysbq: we just studied that
[17:45:16]  yaroslava: tap on our capabilities
[17:46:03]  ysbq: okay lets first discuss how we will identify weakness
[17:46:49]  ysbq: see the position of 7 M's of the business,     all agree
[17:48:05]  ysbq: then, after identification of lapses / weakness in 7M's , we will engage/polish those resources for them to be our strenghts
[17:48:29]  savvy2012: ok
[17:48:33]  ysbq: i hope i am clear
[17:48:44]  ysbq: and making analytical sense
[17:49:01]  savvy2012: yes
[17:49:07]  ysbq: good
[17:49:48]  ysbq: next step is that we will convert threats into oppourtunities
[17:50:00]  ysbq: how to identify threats?
[17:50:33]  savvy2012: brainstorming sessions?
[17:51:17]  savvy2012: analysing competitors resources and competences
[17:51:25]  savvy2012: markt research..
[17:51:42]  savvy2012: im just guessing
[17:52:27]  ysbq: {savvy2012} remember u said tht threats are external so we will use analyse the market and undertake market analysis
[17:53:24]  savvy2012: yeah
[17:53:34]  savvy2012: question is - how?
[17:55:16]  ysbq: market analysis would help to identify the untapped market segment
[17:55:56]  ysbq: so i  think that by doing this u can use our position by to convert  threats into oppourtunities
[17:57:33]  savvy2012: ok
[17:57:37]  ysbq: guys i hope i am not speaking greek....
[17:57:47]  savvy2012: no :)
[17:57:55]  yaroslava: no
[17:57:59]  ysbq: good
[17:58:09]  yaroslava: its all good
[17:58:48]  ysbq: that completes our syllabus ref. A-5 and chap, 3 of kaplan
[17:58:54]  ysbq: ;)
[17:59:08]  ysbq: now lets do stakeholders
[17:59:33]  savvy2012: ok
[17:59:36]  yaroslava: three minutes guys
[18:05:13]  yaroslava: i am back
[18:05:48]  ysbq: syllabus ref-A6, Chapter 4 of kaplan
[18:05:57]  yaroslava: {ysbq} {savvy2012} are you guys back?
[18:06:04]  yaroslava: ok
[18:06:54]  ysbq: what are the implications of corporate governance on organisational purpose and strategy
[18:06:56]  ysbq: ?
[18:07:41]  ysbq: ok lets start step by step
[18:07:51]  ysbq: what is corporate governance?
[18:07:53]  yaroslava: yes
[18:08:28]  savvy2012: its the way organisation is controlled and directed
[18:09:06]  ysbq: yes
[18:09:17]  ysbq: now there is a mission statement
[18:09:28]  ysbq: what is that
[18:09:56]  savvy2012: its main essage organisation carries
[18:10:06]  savvy2012: thir main global ibjective
[18:10:09]  ysbq: isn't it the value, purpose and strategy of organisation
[18:10:16]  yaroslava: it states the purpose for which the org is set, its position and culture
[18:10:25]  savvy2012: {ysbq} yeah maybe :)
[18:10:42]  yaroslava: and values
[18:12:06]  ysbq: so corporate governace has deep impact over the values, purpose and strategy of organisations
[18:13:37]  yaroslava: a mission statement should contain, the purpose, strategy, policies and standard of behaviour and values
[18:14:02]  ysbq: {yaroslava} yes
[18:14:25]  ysbq: but all of these are effected by the different stakeholders of the business
[18:14:46]  ysbq: which is called stakeholders influence
[18:16:10]  ysbq: stakeholders influence impact the corporate goverance is a positive manner , as this would lead to better business ethics and wiliingness to accept corporate social responsibility
[18:16:19]  accahere: So is it that the mission statement is done with stakeholders in mind?
[18:16:42]  ysbq: {accahere} yes it is
[18:16:54]  accahere: yes ok
[18:18:43]  ysbq: but influence of stakeholders  is determined by the level of interest and level of power whch they possess
[18:18:49]  ysbq: all agree with me
[18:19:03]  accahere: yea
[18:19:04]  savvy2012: yes
[18:19:09]  yaroslava: with you
[18:19:12]  savvy2012: mendeloew matrix
[18:19:23]  ysbq: {savvy2012} spot on
[18:19:25]  ysbq: good
[18:19:38]  accahere: So s/holders with strong interest will be satisfied.
[18:19:58]  ysbq: {savvy2012} can u share the matirx with us
[18:20:02]  accahere: and influence?
[18:21:11]  ysbq: {accahere} yes
[18:21:16]  yaroslava: there are Key stakeholder, Keep Satisfied, Minimum effort and Keep informed.
[18:21:29]  accahere: ok
[18:21:48]  yaroslava: Key players have high interest, high power
[18:22:10]  yaroslava: for example the shareholder of a company
[18:22:35]  ysbq: {yaroslava} big shareholders
[18:22:53]  ysbq: what if it is a small investor / shareholder?
[18:23:09]  accahere: Where would we place staff memebers?
[18:24:00] savvy2012 has uploaded a picture:
[18:24:10]  yaroslava: If you were a small investor you have high interst, high power still because you have other voices with you
[18:25:00]  ysbq: {yaroslava} high interst but low voting power
[18:25:02]  yaroslava: The Keep satisfiend are stake holders who have high power but low interest
[18:25:39]  savvy2012: {ysbq} small investors have high interest and low power but need to be careful with them as if they get together at AGM then they can have high power so we need to keep them satisfied not to get them angree
[18:26:07]  yaroslava: {ysbq} depends on the set up and how many stakeholders are affected who are small investors
[18:26:16]  savvy2012: or maybe keep informed..
[18:26:24]  yaroslava: {savvy2012} yes
[18:28:32]  ysbq: {savvy2012} well then they will shift their position by going up the scale of power
[18:28:37]  yaroslava: Keep satisfiend will be say a govenment on labour laws (pay) and tax..they have power low interest. follow the rules and you will be fine...mess around and they will pull out the priviledges
[18:28:46]  ysbq: yes
[18:29:06]  ysbq: lets summarize
[18:29:23]  ysbq: low power low influence = minimum effort
[18:29:36]  ysbq: low power high intrest = keep informed
[18:30:05]  ysbq: high power low intrest = keep satisfies
[18:30:34]  ysbq: high power high intrest = ensure participation
[18:30:45]  ysbq: all agree
[18:30:50]  savvy2012: ye
[18:31:05]  yaroslava: yes, yes
[18:31:42]  ysbq: okay what are internal , external and connected stakeholdrs
[18:31:44]  ysbq: ?
[18:32:37]  yaroslava: internal  stakeholders are involved in the daily affairs of the company eg management, employees
[18:33:41]  savvy2012: external are government, customers, suppliers, environmental agencies
[18:33:45]  yaroslava: extrnal do not have influence on the day to day running of the org and include  supplers and lenders
[18:33:54]  savvy2012: connected are shareholders i think
[18:34:03]  yaroslava: connected shareholders
[18:34:09]  ysbq: {savvy2012} {yaroslava} yes
[18:34:13]  ysbq: lenders
[18:36:07]  ysbq: i think let call it  a day , it has been a long session and my eyes are turning into button
[18:36:21]  ysbq: :)
[18:37:03]  savvy2012: {ysbq} lol
[18:37:26]  yaroslava: ok, so we complete this one on sunday, then whats next?
[18:37:35]  savvy2012: whats next topic in kaplan chapter?
[18:38:09]  yaroslava: {savvy2012} do you have kaplan?
[18:38:47]  ysbq: we will continue with stakeholders next time and do Strategies for competitive advantage
[18:39:03]  ysbq: that is strategic choices according to syllabus
[18:39:15]  yaroslava: cool
[18:39:23]  ysbq: all agree
[18:39:31]  yaroslava: {savvy2012} send me the kaplan test if you have it
[18:39:44]  ysbq: text u mean
[18:39:50]  yaroslava: {ysbq} i agree
[18:39:59]  yaroslava: ya
[18:40:20]  savvy2012: {yaroslava} no i dont hv
[18:40:35]  yaroslava: {savvy2012} no probs
[18:40:55]  yaroslava: see you sunday guys, thank you for the lovely session
[18:40:59]  ysbq: thanks alot to all and to my eyes and fingers.....
[18:41:11]  ysbq: lol
[18:41:13]  yaroslava: {ysbq} send me this stuff please
[18:41:28]  ysbq: {yaroslava} u mean the chat history
[18:41:31]  ysbq: or the booo
[18:41:34]  ysbq: book
[18:41:38]  yaroslava: {ysbq} yep
[18:41:56]  yaroslava: do you have the book to send that will be bril
[18:42:19]  ysbq: no i do not have the book
[18:42:34]  yaroslava: haha, see you sunday then
[18:42:36]  ysbq: but i will paste the chat history on p3
[18:42:46]  ysbq: forum in doucments sections
[18:42:46]  yaroslava: ya