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PRINCIPLES OF STRATEGY, RISK AND FINANCIAL MANAGEMENT TECHNIQUES MAC2602




LUCIANO SCHOOL OF LAW & SOCIAL SCIENCES [LSLSS]

© 2015
Authored by: Ronald Chisaira




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Contents
MODULE NOTES ............................................................................................................................................ 2
Past Exam papers ........................................................................................................................................ 58
SOLUTIONS .................................................................................................................................................. 66
Oct/Nov 2013 .............................................................................................................................................. 72
SOLUTIONS .................................................................................................................................................. 79




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MODULE NOTES

 Entities exist to fulfil a certain purpose or mission. Entities cover a gap in fulfilling the needs
of people for a return/ profit.
 When organizations are started, the owners/founders have an idea of how they want the
entity to be like in a number of years and that will be the vision of the company.
 The mission of the company will be to fulfil that ideal and the mission is encapsulated in a
mission statement.


The mission statement
 The mission statement of the company defines the purpose of the organisation by
broadly starting why the company / organisation exists.
 The mission statement of the organisation is formulated by the Top management of the
company/organisation (The Board) deems it fit.
 A mission statement should have the following characteristics
 Should inspire change within the organisation although the mission itself does not
change.
 Should be long term in nature as it will not change.
 Should be easy to understand and communicate.
 The Benefits of having a well-articulated mission statement includes the following
 Describes what the organisation is about
 It reveals the areas in which the company is operating e.g. technology/ internment.
 Provides a guiding philosophy about the direction the organisation should take.
 It enables communication of a common culture through the whole organisation.


Core Value
 Are the principle that guide an organisation by describing how every employees are
expected to behave?




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