1、2017 年 6 月 ACCA 考试 P3 商务分析真题及答案解析(总分：125.00，做题时间：195 分钟)案例分析题(总题数：4，分数：125.00)Section A This ONE question is compulsory and MUST be attemptedMFP (Mutual Farm Products) was formed in 1910 as a co-operative shop network owned by farmers in the country of Arboria. It progressively opened small shops ac
2、ross the country selling products produced by Arborian farmers. Over time its expanding network of shops began to offer non-farming products from a wide range of suppliers, but it has remained true to its co-operative roots. All employees are shareholders and receive annual dividends. Customers can
3、also become shareholders and are rewarded with dividends which reflect the value of their spending in the shops. An increasing number of customers are becoming shareholders, reflecting a renewed interest in the country in mutual organisations, such as co-operatives. MFP only operates in Arboria and
4、it has no plans to expand overseas. Arboria itself is a wealthy, industrialised country which continues to grow.Supermarkets in ArboriaWhen supermarkets were first introduced in Arboria, MFP reflected this trend by opening its own supermarkets. However, its supermarkets tended to be (and continue to
5、 be) smaller than its well-known competitors and its network of smaller shops was largely retained. In contrast, other supermarkets focused on developing large out-of-town sites serving a large catchment population. In the top-ten supermarkets of Arboria, only MFP has, in addition, a network of smal
6、ler shops.In 2012 MFP was the eighth largest shop and supermarket chain in Arboria. It reported revenues of $10bn, compared to the $405bn revenue of the market leader, HypCo. By 2016, MFP was the ninth largest shop and supermarket chain in the country, with revenues of $11bn, compared with HypCos $4
7、5bn. During this period, two new supermarket chains have entered the Arborian market. These two new entrants, Super24/7 and Letto, already have a combined revenue of $50bn and are fourth and eighth respectively in the top ten Arborian supermarket chains. Both of these companies are overseas-based su
8、permarkets operating a no-frills approach to retailing. Overall, the revenue of the top ten supermarket chains has increased from $300bn to $350bn in the last five years.Margins in the sector are always under pressure and the large supermarkets continue to aggressively market their goods, highlighti
9、ng price savings. They also provide customer incentives, such as loyalty cards and account discount schemes in an attempt to retain customers. For many products and services, price comparison websites show consumers the prices charged by competing supermarkets.With the exception of MFP, all supermar
10、kets are quoted companies with their shares largely owned by institutional investors who look for significant dividends and capital appreciation. MFP is the only co-operative in the top ten Arborian supermarket chains. Generally, suppliers to supermarkets are relatively small companies. Supermarkets
11、 control of consumer spending is so great that many suppliers aggressively compete to have their products stocked by the supermarket chains.MFP has continued to promote and follow its ethical principles. It ensures that new shops and supermarkets are energy efficient. It also continues to pay its em
12、ployees significantly more than its competitors. This concern for its employees welfare appears to lead to excellent customer service performance. For example, in a recent independent survey of supermarket customers, MFP was ranked first for personal customer service.There is some evidence that peop
13、le in Arboria are becoming disillusioned with their supermarkets and this is reflected in Appendix A, an extract from an article by the journalist Liz Bones in the influential daily newspaper, Arbor Today. Appendix B is an extract from an information sheet issued by the government to companies tradi
14、ng in Arboria.Management at MFPManagement at MFP is aware that the company has certain weaknesses. For example, it acknowledges that it needs to streamline its supply chain and achieve cost savings. It also recognises that it has failed to exploit technological advances in product control, movement
15、and storage.However, before making changes, the management wishes to better understand the strategic position of MFP and the models used to assess this position. It has asked for a report which includes: An explanation of the purpose and value of PESTEL analysis and Porters five forces framework. An
16、 analysis which identifies external factors from the perspective of four elements of the PESTEL analysis: political, sociocultural, environmental and legal. An analysis of the market place using Porters five forces framework. The potential role of critical success factors (CSFs), key performance ind
17、icators (KPIs) and integrated reporting on formulating and monitoring strategy at MFP. The company does not currently use such concepts.Appendix A: Have Arborians fallen out of love with the supermarket? By Liz BonesFor many years, the trend towards supermarket shopping has seemed unstoppable. The h
18、igh streets of our towns have become increasingly deserted as grocers, butchers, toy shops and bookshops have disappeared under the combined onslaught of online retailers and expanding supermarkets. For example, ten years ago in the high street of Milton Magna there were three grocers, four butchers
19、, two toy shops, one bookshop and only two supermarkets. Now, only one grocer and one butcher survive on the high street and both supermarkets have moved to out-of-town locations. In fact there are now five out-of-town supermarkets serving the people of Milton Magna.However, there is increased evide
20、nce that shoppers are becoming disillusioned with supermarkets and yearn to return to the days when shops were smaller and service more personal.Fiona McLean, of the department of sociology MidShire University, says that, our research suggests that there is a significant number of consumers, commonl
21、y called green consumers, who are increasingly concerned about the environmental impact of food and other products that they are purchasing. This is not only in terms of the excessive and elaborate packaging of the goods, but also in terms of the food miles that the product has travelled before it r
22、eaches the shelves of the shop or supermarket.In general, these green consumers have higher than average disposable income and they are prepared to pay a price premium for products which have been ethically sourced. Fiona also suggested that such consumers are part of a group who are increasingly an
23、gered by what they consider as the excessive profits of the large supermarket chains, the high remuneration packages paid to senior management and the large dividends paid to their institutional shareholders. There is a feeling that supermarkets are run by fat-cat managers, exploiting small supplier
24、s to reduce costs to create a margin for dividends that pacify demanding institutional investors, she said.Even the newer entrants, Super24/7 and Letto, are under threat. There is a consumer reaction against these overseas-based supermarkets which have followed a low-cost, no frills approach, with s
25、helves stacked intensively with low priced products and where customer service is both impersonal and kept to a minimum. The low wages paid to staff in these supermarkets is also an issue for the green consumer.So, perhaps Arboria is on the brink of a supermarket revolution! Television personalities
26、 such as Alexis Piazzio urge us to think local and shop local. Perhaps after all, small is beautiful when it comes to shopping!Appendix B: Arborian government information sheet 4560 (extract)Disability legislation (The Access ActThe recent extension of disability access legislation requires shops an
27、d supermarkets to help all disabled customers to access all shelf areas within the store. The previous legislation just required shops and supermarkets to provide disability access to the store areas. However, many disabled customers found that goods were out of reach when they were actually in the
28、store. This extension to the legislation addresses this issue. So, for example, all products held within the store must be reachable for a person who is in a wheelchair and, if not, a store attendant must help. Failure to adhere to this legislation will lead to a fine of up to $1,000 per incident.Pe
29、nsion reformThe new government recognises that the current state funded schemes will lead to a significant pension shortfall in the future. Consequently, it has declared its intentions to make it mandatory for employees to pay 5% of their gross pay into a pension scheme of their choice. The amount p
30、aid in will be matched by that paid in by the employer. So, for example, an employee earning $10,000 per year will pay $500 per year into his or her pension fund and the employer will also be required to pay $500 per year into the same fund. It proposes that the employer will be responsible for ensu
31、ring that pension payments are correctly made into government authorised schemes and to accurately process these payments, through automatic payroll deductions, every month. These proposals for pension reform are currently under discussion.Required:Write the report required by MFP management which:（
32、分数：50）(1).Analyses external factors from the perspective of FOUR elements of the PESTEL analysis: political, sociocultural, environmental and legal. The analysis should include an assessment of the likely effect of such factors in the context of the strengths and weaknesses of MFP. It should also in
33、clude an explanation of the purpose and value of a PESTEL analysis.（分数：18）_(2).Analyses the market place (industry) using Porters five forces framework, assessing its implications for MFP. This analysis should also include an explanation of the purpose and value of the five forces framework.（分数：18）_
34、(3).Evaluates the potential role of CSFs, KPIs and integrated reporting in setting and monitoring strategy within MFP.(10 marks)Professional marks will be awarded in question 1 for the structure, coherence, style and clarity of the report. (4 marks)（分数：14）_Section B TWO questions ONLY to be attempte
35、dSave Our Pets (SOP) is a charitable organisation which rescues unwanted or mistreated pets and finds new homes for them. It is located in five different sites around Asteria, where it is based. As a not-for-profit organisation, operational efficiency is crucial for it to be able to deliver effectiv
36、e services from its limited funding. Therefore, when procuring goods and services, SOP always selects the cheapest option which meets its requirements. However, in some instances, this approach has led to greater costs in the long term as a result of poor quality. There was also one recent procureme
37、nt project where the selected supplier, despite being paid a large deposit, went into liquidation before delivering the equipment which SOP had ordered.SOP is planning to implement a new enterprise resource planning (ERP) system, which will link the transaction processing systems of all functional d
38、epartments at all sites. This will include the rehoming database, which includes details of all pets at all sites, allowing the different sites to search for suitable pets for potential customers. Although there are only a few appropriate systems on the market, SOP has identified and shortlisted thr
39、ee providers of modular packages which it believes could be easily adapted to meet its requirements. The shortlist was created using the price of the software as the sole criterion. There were three other suitable suppliers who were not shortlisted as their products were more expensive.The board of
40、SOP has provisionally decided to award the ERP system contract to a small software company, based in Asteria, called Itrus. At the board meeting convened to make the final decision, the financial director explained that Itrus offered the cheapest software solution, at a price of $200,000. However, t
41、he operations director was concerned about this selection, stating that, selecting on the basis of price alone has not always worked for us in the past. Im sure we should use more extensive selection criteria, particularly when selecting computer software. We need to look at a range of factors as we
42、ll as price. After some discussion, the final decision on the contract was deferred. In the meantime, the board agreed that the company accounts of Itrus should be evaluated to assess its financial performance and the risk of it going into liquidation. Itrus has provided accounts for the last two ye
43、ars (see Figure 1) for the evaluation. It was also agreed that the operations director should define what factors, other than price, need to be taken into consideration when evaluating a potential software solution.Figure 1: Itrus Extracts from financial statements 2015 and 2016Extract from the stat
44、ement of financial positionRequired:（分数：25）(1).Undertake a financial evaluation of Itrus, highlighting any areas of concern.（分数：15）_(2).In the context of SOP, discuss what other factors, other than the price of the software, need to be considered when evaluating a potential software solution.Note: A
45、 description of the selection process itself is NOT required.（分数：10）_Rachel Glossop is the chief executive officer (CEO) of Rush Cosmetics, a company which manufactures and sells its own brand of environmentally friendly toiletries and cosmetics. The company is the market leader in its niche market,
46、 and is one of the top ten brands in the total cosmetics market in Yorkland, where it is based.Rachel has always been perceived by her staff as a visionary manager. However, she sometimes lets her enthusiasm for certain ideas become an obsession. She often fails to think through all the implications
47、 of her ideas and will pursue them to fruition regardless of cost. Her managers are aware of this, but are also aware that it is her vision and drive which has helped the company reach the position it is in today.Rachel has called a meeting of managers from the information technology, production, ac
48、counting, marketing and procurement departments. The companys business analyst has also been asked to attend the meeting. At the meeting she announced, I have an idea, at which her managers thought about their busy schedules and inwardly groaned. Well bring together people from all over Yorkland, get them to compete in a fun, but challenging, muddy obstacle race and turn it into a huge marketing event. We are goin
