Ten Top Tips – P3 Business Analysis

1. P3 includes a number of interesting and leading models, theories and theorists – many questions

will ask you to focus on a specific model or theorist so be prepared.

2. Like P1, in P3 you need to be able to develop your points beyond the first couple of obvious points

which everyone will score – use our P3 Q&A to learn ways of developing your initial ideas.

3. Try to develop some mnemonics to help you memorise these lists (e.g. words like SMART or

PRIME). The final chapter of our Q&A contains questions to help you memorise the mnemonics we

have created for the main theoretical topics.

4. You may have some numerical analysis to do, although this will never be the focus of the paper

and you will never be able to pass on numbers alone. Have your best attempt but then move on

quickly – you do not want to run out of time for writing.

5. There is a strong ethical component to P3 - again, you need to be able to go beyond the most

obvious issues and perhaps include knowledge of ethical theories (see also P1). It is worth taking the

time to go back through past papers to understand what points tend to be rewarded.

6. Some of the most important theorists/models include: Johnson, Scholes and Whittington, Harmon’s

Matrix, Peter Drucker, Mintzberg, Ohmae, PESTEL/STEEPLE, SWOT. Of course, there is no point

going into a business strategy exam without a good knowledge of Michael Porter’s various models.

7. Looking at past exams, key topics include: strategy lenses, Harmon’s matrix (appeared on 4 papers

over the 2008 to 2013 period), SWOT/TOWS, Value Chain, CSFs. See chapter 17 of our Q&A for a

dedicated chapter of questions which will help you to revise these common topics.

8. You need a framework for your extended answers. Perhaps you can use the Suitability,

Acceptability and Feasibility framework or perhaps you can look at types of decision such as

Strategic, Operational and Financial. This is where mnemonics and chapter 18 of our Q&A can help.

A framework will help organise your points and also serve as a way to stimulate new ideas.

9. We have noticed an increasing interest in “e-” issues such as websites, e-marketing and e-

procurement. Real world businesses are moving this way so it is not surprising to see P3 questions

follow this path.

10. Keep an eye on our website, Facebook page (www.facebook.com/accasimplified) and Twitter

feed (@accasimplified) for our P3 Q&A and further tips and advice.

ACCA Simplified is brought to you by the same tutor team as ACA Simplified, a fully accredited

Partner in Learning of the Institute of Chartered Accountants in England & Wales (ICAEW).