Theory Knowledge

I think you should know the theories set out in our notes and there are many models mentioned in the syllabus.

If a model is specifically mentioned in the syllabus to study guide eg

‘Apply Porter’s value chain to assist organisations to identify value adding activities in order to create and sustain competitive advantage’ C3c

or

‘Recommend generic development directions using the Ansoff matrix’ C5e

Then you can be specifically asked to use that. You could even be asked to explain it, but that is unlikely as the emphasis is on applying models.

Even if a model were not specified in a question, eg a question such as:

‘Write a report to management which analyses the way the company currently adds value and which explains how the company might better achieve sustainable advantage’

A knowledge of the value chain gives you a ready-made widely-accepted framework for your analysis and using that is more impressive and gives your answer more credibility than you are likely to generate by ‘making it up as you go along’.

Having said that, there is a danger of being too dependent on models: using too many, explaining them etc. I recommend that, unless told to use a specific model, first approach the question on a common-sense basis then see if any model you know will help you structure your answer, help you to make more points and give your answer more intellectual respectability.

Models first, in my opinion.