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MAC2602 LATEST EXAM PACK.
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MAC2602 LATEST EXAM PACK
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EXAMPACK
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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LSLSS
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Contents
MODULE NOTES ............................................................................................................................................ 2
Past Exam papers ........................................................................................................................................ 58
SOLUTIONS .................................................................................................................................................. 66
Oct/Nov 2013 .............................................................................................................................................. 72
SOLUTIONS .................................................................................................................................................. 79
1
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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?
2
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