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The CIMA Strategic Management concentrates on the integration of skills across functions, and also on developing your skills used in designing and implementing strategy. You'll learn to understand the tools needed to evaluate the performance implications of a given strategy. You will learn and understand key topics, including the analysis of organisational ecosystems, generating strategic options and making strategic choices, strategic control systems, and the creation of digital strategy to enable digital transformation within organisations.

E3 is one of three strategic level objective test exams. These exams have to be completed before you can attempt the operational case study exam. CIMA E3 builds on the insights gained from E1 and E2 about how organisations effectively implement their strategies by aligning their structures, people, process, projects and relationships.E3 aims to develop the skills and abilities of the strategic leaders of organisations, enabling them to create the vision and direction for the growth and long-term sustainable success of the organisation.

CIMA E3: Strategic Management

Number of Questions: 60 questions

Duration: 90 Minutes

Pass Score: 70%

Format: Multiple choice & multiple response questions,Drop down questions,Drag and drop questions,Hot spot questions

The strategy process     15%

Analysing the organisational ecosystem   20%

Generating strategic options    15%

Making strategic choices     15%

Strategic control      20%

Digital strategies     15%

Company AA has decided that it needs to improve its strategic decision-making process and is considering implementing Scenario Planning.

The Management Accountant has been requested to investigate this further and also to consider how the company can use scenarios to formulate a competitive strategy.

Which of the following statements are CORRECT? Select ALL that apply.

A. A company taking a flexible scenario approach plays a 'wait and see' game. It is a safe strategy but sacrifices first mover advantages.

B. When undertaking Scenario Planning the company will need to identify the key areas of certainty and their drivers.

C. Scenario Planning forces management to look externally at the wider business environment rather than focusing internally.

D. A company which designs a strategy based on the scenario most attractive to the firm is using a 'hedge' approach.

E. Scenario Planning helps a company to identify and cope with the key uncertainties to which it will be exposed.

Answer: A,C,E

Which THREE principles are explicitly named in the CIMA Ethical Code for Management Accountants Part A?

A. Objectivity

B. Professional Competence and Due Care

C. Integrity

D. Privacy of Information

E. Correct PersonalBehavior

Answer: A,B,C

In order to implement a knowledge management strategy, anOrganizationmust acquire suitable hardware and software so that knowledge can be stored and communicated.

Which of the following would be appropriate systems to use in a knowledge management strategy?

Select ALL that apply.

A. Local area network

B. Groupware

C. Intranet

D. Internet

E. Ledgers and journals

F. Social media

Answer: A,B,C

Management Accountants increasingly play a key role in strategic planning.

Which of the following statements is NOT a role for Management Accountants involved in the strategy development process?

A. Assist the Board in determining risk appetite.

B. Consider and raise awareness of the ethical impact of proposed strategic decisions.

C. Integration of financial and non-financial information.

D. Writing the Annual Report.

Answer: D

Which THREE statements about scenario planning are correct?

A. It tells management what will happen so they are able to plan for it.

B. It tells management what needs to be done to make theOrganizationsuccessful in the future.

C. It encourages creative thinking by the participants.

D. It alerts management to the possibility of fundamental change in the environment.

E. It encourages management to communicate their personal knowledge of trends.

Answer: C,D,E