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Mine was okay, I had a question around a fitness company. Questions included
1. Benefits of customer segmentation, advise on xteristics we can segment on, strategic importance of CSR to different stakeholders.
2.Explanation of VFM, challenges VFM poses to the company, opportunities and threats of a partnership with government.
3 Opportunities and threats of using Big data analytics, benefits of using mobile apps.
4. Potential impact of different control weaknesses and recommendations.I believe it was a fair exam and a 50 is all I need.
Did someone had the question about matters to consider to bring change in Hylife after acquisition and the part about the process to counter change resistance for CPD that related to trainers. What do you guys wrote?
As for the Profesional ethics for the trainers I referred to ACCA’s 5 principles within the context of scenario. Was that the right approach?The other questions were CSR approach towards customers and employees and the other stakeholders, identifying opportunities and threats in Hylife company, use of e marketing, and some others too.
I have the same exam version.
1. In this question there were two segments of customers: mid to high and budgeted. Company was using a differentiation strategy to attract the “high” customers. I have only described what strategy the company is using and what is the target. In point b) questions relate to the recommendation on how to improve the Company positions in the market, so I have provided solutions on how to maintain a strong position in “high” customers and how the Company has the possibility to attract the customers from the low end.
2. At first I was struggling with how to approach the questions with opportunities and threats as I was wondering what the differences between this and analysis of advantages and disadvantages…. The question asked what are the opportunities and threats of the new government contract. In opportunities I have provided that there is a new possible long term revenue stream, potential identification, new business opportunity, and increase the reputation of the Company. In the Threats I have provided that reputation may be damaged if the contract was unsuccessful, also that the contract may be on loss financial position if the performance review was negative due to unsatisfactory results of it and also that if the new business opportunity was identified the company will not be able to use resources for it. I think in this question I did it wrong as I have described advantages and disadvantages of contract.
In the second part of the questsion I have described what is VFM(3E: Economy, Efficiency and Effectivnes) and impact over the contract(potential audit, provide best quality at best price etc, or meeting tight requirements)
3. The same as above I may missinteprate the opportunities/threats with advantages and disadvanteges. In opportunities of Big Data I have provided: better understanding of customers requirments/behaviour, possibility to identification of new business opportunity, identification potential process inefficiency and effective use of marketing strategy. In threats I have provided: data security, high cost of implementation, lack of skilled staff, which must be trained.
In mobile application part I have used 6Is model to provide benefits(Integration, Interactivity, Intelligence, Individualism, Independent of place and Industry structure) to describe benefits.
4. The last question was the easiest one. There were 4 control deficiencies: Lack of monthly review of report, Instructors were not performing obligatory training, the security issue and customers may enter the gym without having membership and the refurbishment of the club without the approval(the refurbishment was performed by the husband of the club manager). We were asked to provide potential impact of the deficiency and recommend how to improve it.
Overally, I think the exam was not the hardest. However I am not satisfied with how I had approached the questions and I may have maybe make misunderstanded the questions with opportunities/threats…. I was confident before the exam and now I only want to achieve 50% 🙂
Disaster!
I’m 99% sure i have failed the exam. I’ll probably need some space from studies for some time.
the first question 1A for assesing the value of customer segmentation analysis.. what did you put? I didn’t know how to approach it.
Thanks!
Indeed the first question was very weird and I did not know how to approach it either. I just described that Company segment its customers on the value-based by their economic value(mid to high income) and potential implication of that. I also provided info that differentiation strategy refers to the high quality for high price. In the end I have provided some information about the rapid growth of low cost gyms and impact of it on the Company current strategy. I think my answer will not be highly marked.
Opportunities – strengthen competitive advantage – so government preferred partner, increased reputation with working with government
Threats – weaken competitive advantage
Good approach mate. I approach it kinda different like it’s customer segment are young people, older people and how the company receive their revenue from each of them and about the strategy of the company high cost .. I might make a mistake
I run out of time. I replied questions 1,2 and 4. my first question was about market segmentation. so i divided customers into 3. low, middle and high level of income.
i also mentioned about differantiating services.
2. question was about the acquistion of Hylife.
– a) Strategic opportunities and challanges.
– b)4- e mail to fin. director regarding objective view of e marketing.
for market segmentation it was asked how we can do the segmentation what should i have said?
What did people write for the contextual change factors? What changes did Optima want to make as I didn’t ready anything about this?
Fitness instructors were resisting attachment of CPD adherence to their employment contracts so a question was asked as to how may Optima approach this. I think this was a leadership type question so first this should be implemented by the senior and middle management to lead by example and then the CEO should make himself more approachable for any concerns by the instructors, communicate with them the importance of CPD etc
Did anyone use SFA for acquisition of Hylife? I didn’t use the model in my answer but used it to streamline my thought process. Is this okay?
I had question about Optima.
Q1 really confused me and I did not know where to start. I ended up doing it lastly and all I could think of was divide them by the age, mentioning about the technology. I doubt this is correct.
The VFM I also struggled and could not remember the last E.
The presentation slides I have not done properly I think.Q4 was the only one I felt comfortable with.
Overall I did not use any models and answered all the questions by quoting sentences from the scenario.
I am hoping for 50%!
Overall the exam was very different to the past papers and no financial question came up
The segmentation question is literally a technical article adapted
Mine was okay .. hoping to get 50 as I did not attempt 13 marks almost.
Task 1
(A)Customer segmentation importance/benefits
Customer segmentation appropriate ways (12+3) – wrote about categorizing them by age , preferences , membership
(B) Ppt strategic importance of CSR to it’s a.customers and staff and b. Wider environment(10+3) – did this at the end so wrote few points but couldn’t explain.. I doubt if the points are even right
Task 2:
(A)Opportunities and threats by taking the b-fit govt project (12+2) – couldn’t differentiate this between advantages and disadvantages so mostly wrote that..
(B)What is meant by value for money and how optima can provide that (12+2) – explained 3E
Task 3:
(A) Opportunities and threats of big data (12+4)- wrote similar to adv and disadv
(B) How mobile technology will help both members and staff (8+2) – dint use any model just in general how fitness app can help.
Task 4 :
Internal control weaknesses and recommendations (15+3) – this was fairly easyHere I wrote about Balogun and Hope Hailey’s contextual change model – time, scope, readiness to change etc.
Did anybody have the CPD question specifically regarding the design of a process to encourage CPD (something along those lines). It didn’t have any professional skills marks which I thought was odd.
csr question
increased sales, improved staff morale, a higher profile or improved corporate reputation,
anyone put the same.
@Ryanwilkes
I have put the same in CSR. Also provided that the trust and confidence will increase of shareholders as Optima was listed company.
Nevertheless I think exam was not the hardest, however I must agree that it was different than previous one as there was no financial question or almost nothing about the risk.
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