We asked one of our CIMA Case Study expert, for his thoughts on the upcoming Management Case Study exam.
He said the two most important skills you can develop and practice as a student are (1) to plan your answers, and (2) to ensure you are answering the specific question requirements.
According to Muzi, many students fall into the trap of simply repeating the theory that seems to apply to the questions as opposed to addressing the question requirements and providing responses that show both understanding of the work and application to the given context.
“As with any ICS exam that relates to an industry that students are all somewhat familiar with, it becomes more important that the approach and solutions offered need to align well with the overall strategy of the organization,” said Muzi.
We asked him if there are more areas/topics that students should focus on when preparing for this exam. Take a look at the list below and ensure you cover all these topics:
- Understanding of life cycles and the product portfolio
- Marketing strategies
- Analysing the external environment
- The organisations value chain and performance management
- Identifying and managing key risks
- Stakeholders and managing change
- Impact of foreign exchange and revenue
Below is an overview of the August 2019 Management pre-seen.
What is it about and what kind of company is featured?
- Cruisecalm is a company that operates a fleet of holiday cruise ships
- Cruisecalm is one of the world’s six largest cruise companies by passenger capacity
- They own 15 ships, making it smaller than its rivals who operate 30 to 110 ships, but it is the largest cruise line in Norland
- Key direct competitors are Wavelyne (11 ships) and Saildine (9 ships), both based in Norland
What problems does it face?
- Cruisecalm operates in a highly competitive and mature industry
- The customer demographic is changing over time
- There are rapid changes related to the supporting industries, which impact Cruisecalms value offering
- The market might start to contract, which will require survival strategies or alternative revenue sources
According to Muzi, Cruisecalm has followed a very deliberate strategy throughout its history, and its survival in a competitive (and arguably contracting) market can be attributed to this.
“Understanding of growth strategies in the investment decision can be a key aspect for this sitting,” he concluded.
We wish all the August Case Study students well in their upcoming exam. Looking to buy ACCA and CIMA study material? Contact us on 021 461 2205 or firstname.lastname@example.org and we will assist you with getting the right study material for your studies