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PAPER NO.13 STRATEGY, GOVERNANCE AND ETHICS GENERAL OBJECTIVE
This paper is intended to equip the candidate with knowledge, skills and attitudes that will enable him/her to formulate and implement strategies and demonstrate good governance and ethical practices.
Table of Contents
LEARNING OUTCOMES
A candidate who passes this paper should be able to:
- Analyse the environment and its impact on strategic decision making
- Formulate and implement a strategic plan
- Practice the tenets and principles of good governance
- Comply with ethical principles in an organisation
CONTENT
Overview of management
- Importance of management
- Principles of management
- Management as a science, an art or a profession
- Functions and roles of management
- Levels of management and managerial skills
- Management and administration
- Overview of management functions
Development of management thought
- Pre-industrial revolution management theories
- Classical theories, neo-classical theories
- Contemporary theories
Overview of corporate strategy, governance and ethics
- Meaning of strategy, management and strategic management
- Scope of strategic management
- Levels of strategic management
- Benefits of strategic management
- Limitations of strategic management
- Meaning of Governance and Ethics
- Importance of Governance and Ethics
- Principles of good governance
- Overview of theories in governance and ethics
Strategy formulation
- Environmental analysis
- Organisational vision and mission
- Organisational goals and objectives
- Development of corporate strategy and business strategy
- Strategic options
- Strategy formulation constraints
- Competitive advantage
Strategy implementation
- Organisational structure
- Resource allocation
- Organisational culture
- Role of leadership on strategy implementation
- Innovation and knowledge management
- Constraints to strategy implementation
- Management of strategic change
Strategic monitoring and evaluation
- Purpose and role of strategic monitoring and evaluation
- Process of strategic monitoring and evaluation
- Tools of strategic monitoring and evaluation
- Role of management information systems
- Performance measurement; balance scorecard and benchmarking
- Features of good strategic monitoring and evaluation systems
- Review and feedback
- Continuous improvement
The Board of Directors
- Appointment, composition and size
- Role and functions
- Executive, non-executive and independent directors
- Committees of the Board
- Board meetings
- Board work plan
- Board induction and continuous skills development
- Board manual and charter
- Board performance evaluation
- Board remuneration
- Term limits for non-executive Board members
- Succession planning
- Liability and insurance indemnity
- Appointment of the Chief Executive Officer
- Appointment of the Certified Secretary
- Separation of roles
- Role of the board in performance management
- Role of the Board in stakeholders management
Accountability, risk management and internal control
- Financial reporting
- Integrated reporting
- Strategies and processes in enterprise risk management
- Board’s role in enterprise risk management
- Internal controls
- Internal auditor
- Audit Committee
- External auditor
- Internal Audit Charter and work plan
- Role of the Board in the procurement process
- Sustainability goals and strategy
- Triple bottom line
- Social responsibility investments
- Corporate social responsibility
- Environmental management
- Ethical issues in CSR
- Strategies and policies on CSR
- Creating and registering foundations to manage CSR
- The impact of CSR on shareholder value
- Social audit
- Corporate reputation and image
Ethics and corporate disclosure
- Ethical norms, morality, values and ethical culture
- Role of the board in promotion of ethical conduct
- Professional judgement
- Code of ethics
- Standards of conduct and personal integrity
- Ethical dilemmas
- Ethics committee
- Ethics training
- Conflict of interests and related party transactions
- Insider trading
- Policy and guidelines on payments and gifts
- Corporate disclosure policy and strategy
- Benefits of disclosures and transparency
- Disclosure barriers
- Financial and non-financial disclosures
- Whistle blowing
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