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Just complete tuition with Kaplan for P3 however all the way through, there had never been mention about balance scorecard (either by the tuitor or in the context).
Anyone know if it still examinable in P3? and what is it about?thank you.
Haha88It is not specifically mentioned in the ACCA study guide, so presumably can’t be specifically required. However, ths following is a requirement:
“Discuss the capabilities required to sustain competitive advantage”
and balanced score card is I think a useful framework. There are 4 perspectives, and they are in a hierarchy:
Financial: we want good financial results – profit, ROCE share price etc. This is the ultimate aim,
This depends on:
Customers: income comes from customers so they must be ‘happy’. Repeat business, growth, our reputation with them.
This depends on:
Internal business: making good products/providing good services, and we can measure cost/unit, rejects, time to delivery etc.
This depends on:
Innovation and learning. Nothing stands still and we have to keep improving what we do.
HTH
You could look in Opentuition notes for understanding firstly. And then more question.
This is very useful as i came across the assessment of capability and got stuck.
thank you.
“Discuss the capabilities required to sustain competitive advantage”
if i use porter 5 forces to answer this kind of question, is it suitable?
Capabilities = resources + competencies.
Threshold capabilities just allow bare survival. Capabilities for competitive advantage, allowing yu to beat your competitors long-term depend on:
1 Unique resources
and/or
2 Core competencies
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