? ACCA 2014 All rights reserved.
　　1
　　Business Analysis （P3）
　　December 2014 and
　　June 2015
　　This syllabus and study guide is designed to help
　　with planning study and to provide detailed
　　information on what could be assessed in
　　any examination session.
　　THE STRUCTURE OF THE SYLLABUS AND
　　STUDY GUIDE
　　Relational diagram of paper with other papers
　　This diagram shows direct and indirect links
　　between this paper and other papers preceding or
　　following it. Some papers are directly underpinned
　　by other papers such as Advanced Performance
　　Management by Performance Management. These
　　links are shown as solid line arrows. Other papers
　　only have indirect relationships with each other
　　such as links existing between the accounting and
　　auditing papers. The links between these are shown
　　as dotted line arrows. This diagram indicates where
　　you are expected to have underpinning knowledge
　　and where it would be useful to review previous
　　learning before undertaking study.
　　Overall aim of the syllabus
　　This explains briefly the overall objective of the
　　paper and indicates in the broadest sense the
　　capabilities to be developed within the paper.
　　Main capabilities
　　This paper’s aim is broken down into several main
　　capabilities which divide the syllabus and study
　　guide into discrete sections.
　　Relational diagram of the main capabilities
　　This diagram illustrates the flows and links between
　　the main capabilities （sections） of the syllabus and
　　should be used as an aid to planning teaching and
　　learning in a structured way.
　　Syllabus rationale
　　This is a narrative explaining how the syllabus is
　　structured and how the main capabilities are linked.
　　The rationale also explains in further detail what the
　　examination intends to assess and why.
　　Detailed syllabus
　　This shows the breakdown of the main capabilities
　?。╯ections） of the syllabus into subject areas. This is
　　the blueprint for the detailed study guide.
　　Approach to examining the syllabus
　　This section briefly explains the structure of the
　　examination and how it is assessed.
　　Study Guide
　　This is the main document that students, learning
　　and content providers should use as the basis of
　　their studies, instruction and materials.
　　Examinations will be based on the detail of the
　　study guide which comprehensively identifies what
　　could be assessed in any examination session.
　　The study guide is a precise reflection and
　　breakdown of the syllabus. It is divided into sections
　　based on the main capabilities identified in the
　　syllabus. These sections are divided into subject
　　areas which relate to the sub-capabilities included
　　in the detailed syllabus. Subject areas are broken
　　down into sub-headings which describe the detailed
　　outcomes that could be assessed in examinations.
　　These outcomes are described using verbs
　　indicating what exams may require students to
　　demonstrate, and the broad intellectual level at
　　which these may need to be demonstrated
　?。?see intellectual levels below）。
　　INTELLECTUAL LEVELS
　　The syllabus is designed to progressively broaden
　　and deepen the knowledge, skills and professional
　　values demonstrated by the student on their way
　　through the qualification.
　　The specific capabilities within the detailed
　　syllabuses and study guides are assessed at one of
　　three intellectual or cognitive levels:
　　LevelⅠ: Knowledge and comprehension
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　　2
　　LevelⅡ: Application and analysis
　　LevelⅢ: Synthesis and *uation
　　Very broadly, these intellectual levels relate to the
　　three cognitive levels at which the Knowledge
　　module, the Skills module and the Professional level
　　are assessed.
　　Each subject area in the detailed study guide
　　included in this document is given a 1, 2, or
　　3 superscript, denoting intellectual level, marked at
　　the end of each relevant line. This gives an
　　indication of the intellectual depth at which an area
　　could be assessed within the examination. However,
　　while level 1 broadly equates with the Knowledge
　　module, level 2 equates to the Skills module and
　　level 3 to the Professional level, some lower level
　　skills can continue to be assessed as the student
　　progresses through each module and level. This
　　reflects that at each stage of study there will be a
　　requirement to broaden, as well as deepen
　　capabilities. It is also possible that occasionally
　　some higher level capabilities may be assessed at
　　lower levels.
　　LEARNING HOURS AND EDUCATION
　　RECOGNITION
　　The ACCA qualification does not prescribe or
　　recommend any particular number of learning hours
　　for examinations because study and learning
　　patterns and styles vary greatly between people and
　　organisations. This also recognises the wide
　　diversity of personal, professional and educational
　　circumstances in which ACCA students find
　　themselves.
　　As a member of the International Federation of
　　Accountants, ACCA seeks to enhance the education
　　recognition of its qualification on both national and
　　international education frameworks, and with
　　educational authorities and partners globally. In
　　doing so, ACCA aims to ensure that its qualifications
　　are recognized and valued by governments,
　　regulatory authorities and employers across all
　　sectors. To this end, ACCA qualifications are
　　currently recognized on the education frameworks in
　　several countries. Please refer to your national
　　education framework regulator for further
　　information.
　　Each syllabus contains between 23 and 35 main
　　subject area headings depending on the nature of
　　the subject and how these areas have been broken
　　down.
　　GUIDE TO EXAM STRUCTURE
　　The structure of examinations varies within and
　　between modules and levels.
　　The Fundamentals level examinations contain
　　100% compulsory questions to encourage
　　candidates to study across the breadth of each
　　syllabus.
　　The Knowledge module is assessed by equivalent
　　two-hour paper based and computer based
　　examinations.
　　The Skills module examinations F5-F9 are all paper
　　based three-hour papers containing a mix of
　　objective and longer type questions. The Corporate
　　and Business Law （F4） paper is a two- hour
　　computer based objective test examination which is
　　also available as a paper based version from the
　　December 2014 examination session.
　　The Professional level papers are all three-hour
　　paper based examinations, all containing two
　　sections. Section A is compulsory, but there will be
　　some choice offered in Section B.
　　For all three hour examination papers, ACCA has
　　introduced 15 minutes reading and planning time.
　　This additional time is allowed at the beginning of
　　each three-hour examination to allow candidates to
　　read the questions and to begin planning their
　　answers before they start writing in their answer
　　books. This time should be used to ensure that all
　　the information and exam requirements are properly
　　read and understood.
　　During reading and planning time candidates may
　　only annotate their question paper. They may not
　　write anything in their answer booklets until told to
　　do so by the invigilator.
　　The Essentials module papers all have a Section A
　　containing a major case study question with all
　　requirements totalling 50 marks relating to this
　　case. Section B gives students a choice of two from
　　three 25 mark questions.
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　　3
　　Section A of both the P4 and P5 Options papers
　　contain one 50 mark compulsory question, and
　　Section B will offer a choice of two from three
　　questions each worth 25 marks each.
　　Section A of each of the P6 and P7 Options papers
　　contains 60 compulsory marks from two questions;
　　question 1 attracting 35 marks, and question 2
　　attracting 25 marks. Section B of both these
　　Options papers will offer a choice of two from three
　　questions, with each question attracting 20 marks.
　　All Professional level exams contain four
　　professional marks.
　　The pass mark for all ACCA Qualification
　　examination papers is 50%.
　　GUIDE TO EXAMINATION ASSESSMENT
　　ACCA reserves the right to examine anything
　　contained within the study guide at any examination
　　session. This includes knowledge, techniques,
　　principles, theories, and concepts as specified.
　　For the financial accounting, audit and assurance,
　　law and tax papers except where indicated
　　otherwise, ACCA will publish examinable
　　documents once a year to indicate exactly
　　what regulations and legislation could potentially be
　　assessed within identified examination sessions
　　For paper based examinations regulation issued or
　　legislation passed on or before 31st August annually,
　　will be examinable from 1st September of the
　　following year to 31st August t of the year after that.
　　Please refer to the examinable documents for the
　　paper （where relevant） for further information.
　　Regulation issued or legislation passed in
　　accordance with the above dates may be
　　examinable even if the effective date is in the future.
　　The term issued or passed relates to when
　　regulation or legislation has been formally approved.
　　The term effective relates to when regulation or
　　legislation must be applied to an entity transactions
　　and business practices.
　　The study guide offers more detailed guidance on
　　the depth and level at which the examinable
　　documents will be examined. The study guide
　　should therefore be read in conjunction with the
　　examinable documents list.
　　? ACCA 2014 All rights reserved.
　　4
　　Syllabus
　　AIM
　　To apply relevant knowledge, skills, and exercise
　　professional judgement in assessing strategic
　　position, determining strategic choice, and
　　implementing strategic action through beneficial
　　business process and structural change;
　　coordinating knowledge systems and information
　　technology and by effectively managing processes,
　　projects, and people within financial and other
　　resource constraints.
　　MAIN CAPABILITIES
　　On successful completion of this paper, candidates
　　should be able to:
　　A Assess the strategic position of an organisation
　　B Evaluate the strategic choices available to an
　　organisation
　　C Discuss how an organisation might go about its
　　strategic implementation
　　D Evaluate and redesign business processes and
　　structures to implement and support the
　　organisation’s strategy taking account of
　　customer and other major stakeholder
　　requirements
　　E Integrate appropriate information technology
　　solutions to support the organisation’s strategy
　　F Advise on the principles of project management
　　to enable the implementation of aspects of the
　　organisation’s strategy with the twin objectives
　　of managing risk and ensuring benefits
　　realisation
　　G Analyse and *uate the effectiveness of a
　　company’s strategy and the financial
　　consequences of implementing strategic
　　decisions
　　H Assess the role of leadership and people
　　management in formulating and implementing
　　business strategy.
　　RELATIONAL DIAGRAM OF MAIN CAPABILITIES
　　AB （F1）
　　BA （P3）
　　PM （F5）
　　APM （P5）
　　FR （F7）
　　Strategic Position （A）
　　Strategic Choices （B）
　　Strategic Action （C）
　　Business
　　and
　　process
　　change （D）
　　Information
　　technology
　?。‥）
　　Project
　　management
　?。‵）
　　Financial
　　analysis
　?。℅）
　　People （H）
　　position choices action
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　　5
　　RATIONALE
　　The syllabus for Paper P3, Business Analysis, is
　　primarily concerned with two issues. The first is the
　　external forces （the * of customers, the
　　initiatives of competitors, the emergence of new
　　laws and regulations） that shape the environment of
　　an organisation. The second is the internal
　　ambitions and concerns （desire for growth, the
　　design of processes, the competences of employees,
　　the financial resources） that exist within an
　　organisation. This syllabus looks at both of these
　　perspectives, from assessing strategic position and
　　choice to identifying and formulating strategy and
　　strategic action. It identifies opportunities for
　　beneficial change that involve people, finance and
　　information technology. It examines how these
　　opportunities may be implemented through the
　　appropriate management of programmes and
　　projects.
　　The syllabus begins with the assessment of strategic
　　position in the present and in the future using
　　relevant forecasting techniques, and is primarily
　　concerned with the impact of the external
　　environment on the business, its internal
　　capabilities and expectations and how the
　　organisation positions itself under these constraints.
　　It examines how factors such as culture, leadership
　　and stakeholder expectations shape organisational
　　purpose. Strategic choice is concerned with
　　decisions which have to be made about an
　　organisation’s future and the way in which it can
　　respond to the influences and pressures identified in
　　the assessment of its current and future strategic
　　position.
　　Strategic action concerns the implementation of
　　strategic choices and the transformation of these
　　choices into organisational action. Such action takes
　　place in day-to-day processes and organisational
　　relationships and these processes and relationships
　　need to be managed in line with the intended
　　strategy, involving the effective coordination of
　　information technology, people, finance and other
　　business resources.
　　Companies that undertake successful business
　　process redesign claim significant organisational
　　improvements. This simply reflects the fact that
　　many existing processes are less efficient than they
　　could be and that new technology makes it possible
　　to design more efficient processes. Strategic
　　planning and strategy implementation has to be
　　subject to financial benchmarks. Financial analysis
　　explicitly recognises this, reminding candidates of
　　the importance of focusing on the key management
　　accounting techniques that help to determine
　　strategic action and the financial ratios and
　　measures that may be used to assess the viability of
　　a strategy and to monitor and measure its success.
　　Throughout, the syllabus recognises that successful
　　strategic planning and implementation requires the
　　effective recruitment, leadership, organisation and
　　training and development of people.
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　　6
　　DETAILED SYLLABUS
　　A Strategic position
　　1. The need for, and purpose of, strategic and
　　business analysis
　　2. Environmental issues affecting the strategic
　　position of, and future outlook for, an
　　organisation
　　3. Competitive forces affecting an organisation
　　4. Marketing and the value of goods and services
　　5. The internal resources, capabilities and
　　competences of an organisation
　　6. The expectations of stakeholders and the
　　influence of ethics and culture
　　B Strategic choices
　　1. The influence of corporate strategy on an
　　organisation
　　2. Alternative approaches to achieving
　　competitive advantage
　　3. Alternative directions and methods of
　　development
　　C Strategic action
　　1. Organising and enabling success
　　2. Managing strategic change
　　3. Understanding strategy development
　　D Business and process change
　　1. Business change
　　2. The role of process and process change
　　initiatives
　　3. Improving the processes of the organisation
　　4. Software solutions
　　E Information technology
　　1. Principles of information technology
　　2. Principles of e-business
　　3. E-business application: upstream supply chain
　　management
　　4. E-business application: downstream supply
　　chain management
　　5. E-business application: customer relationship
　　management
　　F Project management
　　1. The nature of projects
　　2. Building a business case
　　3. Managing and leading projects
　　4. Planning, monitoring and controlling projects
　　5. Concluding a project
　　G Financial Analysis
　　1. The link between strategy and finance
　　2. Finance decisions to formulate and support
　　business strategy
　　3. The role of cost and management accounting in
　　strategic planning and implementation
　　4. Financial implications of making strategic
　　choices and of implementing strategic actions
　　H People
　　1. Strategy and people: leadership
　　2. Strategy and people: job design
　　3. Strategy and people: staff development
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　　APPROACH TO EXAMINING THE SYLLABUS
　　The syllabus is assessed by a three-hour paperbased
　　examination.
　　Section A
　　Section A contains one multi-part question based on
　　a case study scenario. This question is worth 50
　　marks.
　　Section B
　　Section B will consist of three discrete questions
　　each worth 25 marks. Candidates must answer two
　　questions from this section.
　　Total: 100 marks
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　　8
　　Study Guide
　　A STRATEGIC POSITION
　　1. The need for, and purpose of, strategic and
　　business analysis
　　a） Recognise the fundamental nature and
　　vocabulary of strategy and strategic
　　decisions.[2]
　　b） Discuss how strategy may be formulated at
　　different levels （corporate, business level,
　　operational） of an organisation.[2]
　　c） Explore the Johnson, Scholes and Whittington
　　model for defining elements of strategic
　　management – the strategic position, strategic
　　choices and strategy into action.[3]
　　d） Analyse how strategic management is affected
　　by different organisational contexts.[3]
　　e） Compare three different strategy lenses
　　（Johnson, Scholes and Whittington） for viewing
　　and understanding strategy and strategic
　　management.[3]
　　f） Explore the scope of business analysis and its
　　relationship to strategy and strategic
　　management in the context of the relational
　　diagram of this syllabus.[3]
　　2. Environmental issues affecting the strategic
　　position of, and future outlook for, an
　　organisation
　　a） Assess the macro-environment of an
　　organisation using PESTEL.[3]
　　b） Highlight the external key drivers of change
　　likely to affect the structure of a sector or
　　market.[3]
　　c） Explore, using Porter’s Diamond, the influence
　　of national competitiveness on the strategic
　　position of an organisation.[2]
　　d） Prepare scenarios reflecting different
　　assumptions about the future environment of
　　an organisation.[3]
　　e） Evaluate methods of business forecasting used
　　when quantitatively assessing the likely
　　outcome of different business strategies.[3]
　　3. Competitive forces affecting an organisation
　　a） Discuss the significance of industry, sector and
　　convergence.[3]
　　b） Evaluate the sources of competition in an
　　industry or sector using Porter’s five forces
　　framework.[3]
　　c） Assess the contribution of the lifecycle model,
　　the cycle of competition and associated costing
　　implications to understanding competitive
　　*.[3]
　　d） Analyse the influence of strategic groups and
　　market segmentation.[3]
　　e） Determine the opportunities and threats posed
　　by the environment of an organisation.[2]
　　4. Marketing and the value of goods and services
　　a） Analyse customers and markets[2]
　　b） Establish appropriate critical success factors
　?。–SF） and key performance indicators （KPI） for
　　products and services[2]
　　c） Explore the role of the value chain in creating
　　and sustaining competitive advantage.[2]
　　d） Advise on the role and influence of value
　　networks.[3]
　　e） Assess different approaches to benchmarking
　　an organisation’s performance.[3]
　　5. The internal resources, capabilities and
　　competences of an organisation
　　a） Discriminate between strategic capability,
　　threshold resources, threshold competences,
　　unique resources and core competences.[3]
　　b） Discuss from a strategic perspective, the
　　continuing need for effective cost management
　　and control systems within organisations.[3]
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　　9
　　c） Discuss the capabilities required to sustain
　　competitive advantage.[2]
　　d） Explain the impact of new product, process,
　　and service developments and innovation in
　　supporting business strategy.[2]
　　e） Discuss the contribution of organisational
　　knowledge to the strategic capability of an
　　organisation.[2]
　　f） Determine the strengths and weaknesses of an
　　organisation and formulate an appropriate
　　SWOT analysis.[2]
　　6. The expectations of stakeholders and the
　　influence of ethics and culture
　　a） Advise on the implications of corporate
　　governance on organisational purpose and
　　strategy.[2]
　　b） Evaluate, through stakeholder mapping, the
　　relative influence of stakeholders on
　　organisational purpose and strategy.[3]
　　c） Assess ethical influences on organisational
　　purpose and strategy.[3]
　　d） Explore the scope of corporate social
　　responsibility.[3]
　　e） Assess the impact of culture on organisational
　　purpose and strategy.[3]
　　f） Prepare and *uate a cultural web of an
　　organisation.[2]
　　g） Advise on how organisations can communicate
　　their core values and mission.[3]
　　h） Explain the role of integrated reporting in
　　communicating strategy and strategic
　　performance.[2]
　　B STRATEGIC CHOICES
　　1. The influence of corporate strategy on an
　　organisation
　　a） Explore the relationship between a corporate
　　parent and its business units.[2]
　　b） Assess the opportunities and potential
　　problems of pursuing different corporate
　　strategies of product/market diversification from
　　a national, international and global
　　perspective.[3]
　　c） Assess the opportunities and potential
　　problems of pursuing a corporate strategy of
　　international diversity, international scale
　　operations and globalisation.[3]
　　d） Discuss a range of ways that the corporate
　　parent can create and destroy organisational
　　value.[2]
　　e） Explain three corporate rationales for adding
　　value – portfolio managers, synergy managers
　　and parental developers.[3]
　　f） Explain and apply the following portfolio
　　models （the BCG growth/share matrix, public
　　sector matrix, the parenting matrix or Ashridge
　　Portfolio display） to assist corporate parents in
　　managing their business portfolios.[3]
　　2. Alternative approaches to achieving
　　competitive advantage
　　a） Evaluate, through the strategy clock, generic
　　strategy options available to an organisation.[3]
　　b） Advise on how price-based strategies,
　　differentiation and lock-in can help an
　　organisation sustain its competitive
　　advantage.[3]
　　c） Assess opportunities for improving
　　competitiveness through collaboration.[3]
　　3. Alternative directions and methods of
　　development
　　a） Determine generic development directions
　?。╡mploying an adapted Ansoff matrix and a
　　TOWS matrix） available to an organisation.[2]
　　b） Assess how internal development, mergers,
　　acquisitions, strategic alliances and franchising
　　can be used as different methods of pursuing a
　　chosen strategic direction.[3]
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　　10
　　c） Establish success criteria to assist in the choice
　　of a strategic direction and method （strategic
　　options）。[2]
　　d） Assess the suitability of different strategic
　　options to an organisation.[3]
　　e） Assess the feasibility of different strategic
　　options to an organisation.[3]
　　f） Establish the acceptability of strategic options
　　to an organisation through analysing risk and
　　return on investment.[3]
　　C STRATEGIC ACTION
　　1. Organising and enabling success
　　a） Advise on how the organisation can be
　　structured to deliver a selected strategy.[3]
　　b） Explore generic processes that take place
　　within the structure, with particular emphasis
　　on the planning process.[3]
　　c） Discuss how internal relationships can be
　　organised to deliver a selected strategy.[2]
　　d） Discuss how organisational structure and
　　external relationships （boundary-less
　　organisations; hollow, modular and virtual） and
　　strategic alliances （joint ventures, networks,
　　franchising, licensing） and the supporting
　　concepts of outsourcing, offshoring and shared
　　services, can be used to deliver a selected
　　strategy.[2]
　　e） Explore （through Mintzberg’s organisational
　　configurations） the design of structure,
　　processes and relationships.[3]
　　2. Managing strategic change
　　a） Explore different types of strategic change and
　　their implications.[2]
　　b） Determine and diagnose the organisational
　　context of change using Balogun and Hope
　　Hailey’s contextual features model and the
　　cultural web.[3]
　　c） Establish potential blockages and levers of
　　change.[2]
　　d） Advise on the style of leadership appropriate to
　　manage strategic change.[2]
　　3. Understanding strategy development
　　a） Discriminate between the concepts of intended
　　and emergent strategies.[3]
　　b） Explain how organisations attempt to put an
　　intended strategy into place.[2]
　　c） Highlight how emergent strategies appear from
　　within an organisation.[3]
　　d） Discuss how process redesign, and e-business
　　can contribute to emergent strategies.[2]
　　e） Assess the implications of strategic drift and
　　the demand for multiple processes of strategy
　　development.[3]
　　D BUSINESS AND PROCESS CHANGE
　　1. Business change
　　a） Explain that business change projects are
　　initiated to address strategic alignment.[2]
　　b） Apply the stages of the business change
　　lifecycle （alignment, definition, design,
　　implementation, realisation）。[3]
　　c） Assess the value of the four view （POPIT –
　　people, organisation, processes and
　　information technology） model to the
　　successful implementation of business
　　change [3]
　　2. The role of process and process change initiatives
　　a） Advise on how an organisation can reconsider
　　the design of its processes to deliver a selected
　　strategy.[3]
　　b） Appraise business process change initiatives
　　previously adopted by organisations.[3]
　　c） Establish an appropriate scope and focus for
　　business process change using Harmon’s
　　process-strategy matrix.[3]
　　d） Explore the commoditisation of business
　　processes.[3]
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　　11
　　e） Advise on the implications of business process
　　outsourcing.[3]
　　f） Recommend a business process redesign
　　methodology for an organisation.[2]
　　3. Improving the processes of the organisation
　　a） Evaluate the effectiveness of current
　　organisational processes.[3]
　　b） Describe a range of process redesign
　　patterns.[2]
　　c） Establish possible redesign options for
　　improving the current processes of an
　　organisation.[2]
　　d） Assess the feasibility of possible redesign
　　options.[3]
　　e） Assess the relationship between process
　　redesign and strategy.[3]
　　4. Software solutions
　　a） Establish information system requirements
　　required by business users.[2]
　　b） Assess the advantages and disadvantages of
　　using a generic software solution to fulfil those
　　requirements.[2]
　　c） Establish a process for *uating, selecting
　　and implementing a generic software
　　solution.[2]
　　d） Explore the relationship between generic
　　software solutions and business process
　　redesign.[2]
　　E INFORMATION TECHNOLOGY
　　1. Principles of information technology
　　a） Advise on the basic hardware and software
　　infrastructure required to support business
　　information systems[2].
　　b） Identify and analyze general information
　　technology controls and application controls
　　required for effective accounting information
　　systems[2].
　　c） Analyze the adequacy of general information
　　technology controls and application controls for
　　relevant application systems[3].
　　d） Evaluate controls over the safeguarding of
　　information technology assets to ensure the
　　organizational ability to meet business
　　objectives[3].
　　2. Principles of e-business
　　a） Discuss the meaning and scope of ebusiness.[
　　2]
　　b） Advise on the reasons for the adoption of ebusiness
　　and recognise barriers to its
　　adoption.[3]
　　c） Evaluate how e-business changes the
　　relationships between organisations and their
　　customers.[3]
　　d） Discuss and *uate the main business and
　　marketplace models for delivering e-business.[3]
　　3. E-business application: upstream supply chain
　　management
　　a） Analyse the main elements of both the push
　　and pull models of the supply chain.[2]
　　b） Discuss the relationship of the supply chain to
　　the value chain and the value network.[2]
　　c） Assess the potential application of information
　　technology to support and restructure the
　　supply chain.[3]
　　d） Advise on how external relationships with
　　suppliers and distributors can be structured to
　　deliver a restructured supply chain.[3]
　　e） Discuss the methods, benefits and risks of eprocurement.[
　　2]
　　f） Assess different options and models for
　　implementing e-procurement.[2]
　　4. E-business application: downstream supply
　　chain management
　　a） Define the scope and media of e-marketing.[2]
　　? ACCA 2014 All rights reserved.
　　12
　　b） Highlight how the media of e-marketing can be
　　used when developing an effective e-marketing
　　plan.[2]
　　c） Explore the characteristics of the media of emarketing
　　using the ‘6I’s of Interactivity,
　　Intelligence, Individualisation, Integration,
　　Industry structure and Independence of
　　location.[2]
　　d） Evaluate the effect of the media of e-marketing
　　on the traditional marketing mix of product,
　　promotion, price, place, people, processes and
　　physical evidence.[3]
　　e） Describe a process for establishing a pricing
　　strategy for products and services that
　　recognises both economic and non-economic
　　factors.[2]
　　f） Assess the importance of on-line branding in emarketing
　　and compare it with traditional
　　branding.[2]
　　5. E-business application: customer relationship
　　management
　　a） Define the meaning and scope of customer
　　relationship management.[2]
　　b） Explore different methods of acquiring
　　customers through exploiting electronic
　　media.[2]
　　c） Evaluate different buyer * amongst online
　　customers.[3]
　　d） Recommend techniques for retaining
　　customers using electronic media.[2]
　　e） Recommend how electronic media may be
　　used to increase the activity and value of
　　established, retained customers.[2]
　　f） Discuss the scope of a representative software
　　package solution designed to support customer
　　relationship management.[2]
　　F PROJECT MANAGEMENT
　　1. The nature of projects
　　a） Determine the distinguishing features of
　　projects and the constraints they operate in.[2]
　　b） Discuss the implications of the triple constraint
　　of scope, time and cost.[2]
　　c） Discuss the relationship between organisational
　　strategy and project management.[2]
　　d） Identify and plan to manage risks. [2]
　　e） Advise on the structures and information that
　　have to be in place to successfully initiate a
　　project.[3]
　　f） Explain the relevance of projects to process redesign
　　and e-business systems development.[2]
　　2. Building the business case
　　a） Describe the structure and contents of a
　　business case document.[2]
　　b） Analyse, describe, assess and classify benefits
　　of a project investment.[3]
　　c） Analyse, describe, assess and classify the costs
　　of a project investment[3]
　　d） Evaluate the costs and benefits of a business
　　case using standard techniques
　　e） Establish responsibility for the delivery of
　　benefits[2]
　　f） Explain the role of a benefits realisation
　　plan[2]
　　3. Managing and leading projects
　　a） Discuss the organisation and implications of
　　project-based team structures.[2]
　　b） Establish the role and responsibilities of the
　　project manager and the project sponsor.[2]
　　c） Identify and describe typical problems
　　encountered by a project manager when
　　leading a project.[2]
　　? ACCA 2014 All rights reserved.
　　13
　　d） Advise on how these typical problems might be
　　addressed and overcome.[3]
　　4. Planning, monitoring and controlling projects
　　a） Discuss the principles of a product breakdown
　　structure [2]
　　b） Assess the importance of developing a
　　project plan and discuss the work required to
　　produce this plan.[3]
　　c） Monitor the status of a project and identify
　　project risks, issues, slippage and changes.[2]
　　d） Formulate responses for dealing with project
　　risks, issues, slippage and changes.[2]
　　e） Discuss the role of benefits management and
　　project gateways in project monitoring.[2]
　　5. Concluding a project
　　a） Establish mechanisms for successfully
　　concluding a project.[2]
　　b） Discuss the relative meaning and benefits of a
　　post-implementation and a post-project
　　review.[2]
　　c） Discuss the meaning and value of benefits
　　realisation.[2]
　　d） Evaluate how project management software
　　may support the planning and monitoring of a
　　project.[3]
　　e） Apply 'lessons learned' to future business case
　　validation and to capital allocation decisions.[3]
　　G FINANCIAL ANALYSIS
　　1. The link between strategy and finance
　　a） Explain the relationship between strategy and
　　finance [3]
　　i） Managing for value
　　ii） Financial expectations of stakeholders
　　iii） Funding strategies
　　2. Finance decisions to formulate and support
　　business strategy
　　a） Determine the overall investment requirements
　　of the business.[2]
　　b） Evaluate alternative sources of finance for these
　　investments and their associated risks.[3]
　　c） Efficiently and effectively manage the current
　　and non-current assets of the business from a
　　finance and risk perspective.[2]
　　3. The role of cost and management accounting
　　in strategic planning and decision-making
　　a） Explain the role, advantages and possible
　　limitations of a budgetary process.[2]
　　b） Explain the principles of standard costing, its
　　role in variance analysis and suggest possible
　　reasons for identified variances.[3]
　　c） Evaluate strategic and operational decisions
　　taking into account risk and uncertainty using
　　decision trees.[3]
　　d） Evaluate the following strategic options using
　　marginal and relevant costing techniques.[3]
　　i） Make or buy decisions
　　ii） Accepting or declining special contracts
　　iii） Closure or continuation decisions
　　iv） Effective use of scarce resources
　　e） Evaluate the role and limitations of cost
　　accounting in strategy development and
　　implementation, specifically relating to:[2]
　　i） Direct and indirect costs in multi-product
　　contexts
　　ii） Overhead apportionment in full costing
　　iii） Activity based costing in planning and
　　control
　　4. Financial implications of making strategic
　　choices and of implementing strategic actions
　　a） Apply efficiency ratios to assess how efficiently
　　an organisation uses its current resources.[2]
　　b） Apply appropriate gearing ratios to assess the
　　risks associated with financing and investment
　　in the organisation.[2]
　　? ACCA 2014 All rights reserved.
　　14
　　c） Apply appropriate liquidity ratios to assess the
　　organisation’s short-term commitments to
　　creditors and employees.[2]
　　d） Apply appropriate profitability ratios to assess
　　the viability of chosen strategies.[2]
　　e） Apply appropriate investment ratios to assist
　　investors and shareholders in *uating
　　organisational performance and strategy.[2]
　　H PEOPLE
　　（Note that Section H of the syllabus is underpinned
　　directly by knowledge gained in F1, Accountant in
　　Business. Students are expected to be familiar with
　　the following Study Guide subject areas from that
　　syllabus: A1, A2, B1-B3, D1, and D4-D6）
　　1. Strategy and people: leadership
　　a） Explain the role of visionary leadership and
　　identify the key leadership traits effective in the
　　successful formulation and implementation of
　　strategy and change management.[3]
　　b） Apply and compare alternative classical and
　　modern theories of leadership in the effective
　　implementation of strategic objectives.[3]
　　2. Strategy and people: job design
　　a） Assess the contribution of four different
　　approaches to job design （scientific
　　management, job enrichment, Japanese
　　management and re-engineering）。[3]
　　b） Explain the human resource implications of
　　knowledge work and post-industrial job
　　design.[2]
　　c） Discuss the tensions and potential ethical
　　issues related to job design.[2]
　　d） Advise on the relationship of job design to
　　process re-design, project management and the
　　harnessing of e-business opportunities.[3]
　　3. Strategy and people: staff development
　　a） Discuss the emergence and scope of human
　　resource development, succession planning
　　and their relationship to the strategy of the
　　organisation.[2]
　　b） Advise and suggest different methods of
　　establishing human resource development.[3]
　　c） Advise on the contribution of competency
　　frameworks to human resource development.[3]
　　d） Discuss the meaning and contribution of
　　workplace learning, the learning organisation,
　　organisation learning and knowledge
　　management.[3]
　　? ACCA 2014 All rights reserved.
　　15
　　SUMMARY OF CHANGES TO P3
　　ACCA annually reviews its qualification so that they fully meet the needs of stakeholders including employers,
　　students, regulatory and advisory bodies and learning providers. These syllabus changes are effective from
　　December 2014 and thereafter will be updated with effect from 1st September each year, from September 2015
　　onwards.
　　The changes are introduced to the syllabus to reflect the latest business and educational developments affecting
　　this paper. These are summarised in the table below.
　　Summary of changes to P3 （Table）：
　　Section and subject area Syllabus content
　　Subject area A2 heading amended Environmental issues affecting the strategic
　　position of, and future outlook for, an organisation
　　A2b amended to add ‘external’ Highlight the external key drivers of change likelyt
　　to affect the structure of a sector or market
　　A5f Deleted Identify opportunities for managing the strategic
　　capability of an organisation
　　A6h） Added Explain the role of integrated reporting in
　　communicating strategy and strategic
　　performance
　　B1f） Amended to delete and add models Explain and apply the following portfolio models
　?。╰he BCG growth/share matrix, the public sector
　　portfolio matrix, the parenting matrix or Ashridge
　　Portfolio Display） to assist corporate parents in
　　managing their business portfolios
　　B2c） Deleted Explore how organisations can respond to
　　hypercompetitive conditions
　　C1d Amended Discuss how organisational structure and
　　external relationships （boundary-less
　　organisations; hollow, modular and virtual） and
　　strategic alliances （joint ventures, networks,
　　franchising, licensing） and the supporting
　　concepts of outsourcing, offshoring and shared
　　services, can be used to deliver a selected
　　strategy
　　C2e） and f） Deleted Specify organisational roles required to manage
　　strategic change
　　Discuss levers that can be employed to manage
　　strategic change
　　Section D heading amended and
　　New D1 Subject area added
　　D BUSINESS AND PROCESS CHANGE
　　1.Business change
　　a） Explain that business change projects are
　　initiated to address strategic alignment.[2]
　　b） Apply the stages of the business change
　　lifecycle （alignment, definition, design,
　　implementation and realisation）
　　c） Assess the value of the four view （POPIT –
　　people, organisation, processes and
　　? ACCA 2014 All rights reserved.
　　16
　　information
　　technology） model to the successful
　　implementation of business change
　　New E1 Subject area added E INFORMATION TECHNOLOGY
　　1. Principles of information technology
　　a） Advise on the basic hardware and software
　　infrastructure required to support business
　　information systems
　　b） Identify and analyse general information
　　technology controls and application controls
　　required for effective accounting information
　　systems
　　c） Analyse the adequacy of general information
　　technology controls and application controls for
　　relevant application systems
　　d） Evaluate controls over the safeguarding of
　　information technology assets to ensure the
　　organizational ability to meet business
　　objectives
　　? ACCA 2014 All rights reserved.
　　17
　　New E2e） and f） deleted e） Advise on the hardware and software
　　infrastructure required to support e-business.[3]
　　f） Advise on how the organisation can utilise
　　information technology to help it deliver a
　　selected strategy
　　Section H （Note added for clarification） （Note that Section H of the syllabus is
　　underpinned directly by knowledge gained in
　　F1, Accountant in Business. Students are
　　expected to be familiar with the following
　　Study Guide subject areas from that
　　syllabus: D1, and D4-D6）
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