Everything You Need To Know About CA Intermediate Strategic Management Exam in 2021

Paper 7 of CA Intermediate is Enterprise Information System and Strategic Management, that is, EIS & SM. Most students don’t score well in this subject because of the notion that it is a very tough subject. There is a misconception in the CA fraternity that it is impossible to score good marks in this subject, especially the Strategic Management (SM) part.

The thing is, when we are told on a continuous basis that something is tough, it automatically becomes tough. If you decide from the very beginning that it is just another subject, then you can score well in it with the proper guidance and practice.

This blog will be focussed on Part B of Paper 7 of CA Intermediate, that is, Strategic Management. Strategic Management can prove to be a very interesting subject if you have the proper guidance. This subject helps you in clearing your exam and helps you become a better professional.

CA Intermediate

CA Intermediate is the second level of the Chartered Accountancy course. After qualifying the Foundation exam, students get enrolled into CA Intermediate. In this level, there are two groups, namely Group 1 and Group 2. 

Both groups consist of four subjects each. After clearing even one group, the students get eligible to apply for the mandatory three years articleship. After clearing both the groups and completing the articleship, the students get eligible to appear for the Final level of the Chartered Accountancy course.

CA Intermediate Group - 1

The CA Intermediate Group 1 consists of four papers -

Paper - 1: Accounting, 

Paper - 2: Corporate and Other Laws, 

Paper - 3: Cost and Management Accounting, and 

Paper - 4: Taxation

Each paper comprises of 100 marks, and if students score 40 marks in a subject, they clear that paper. However, a total of 200 marks or more is required overall to clear the group. If students score 60 marks in a paper, they get the exemption. 

If unfortunately, they cannot clear the group, they are exempted from giving that paper in the next attempt in which they score more than 60 marks.

For example, if a student scores 60 marks in Corporate and Other Laws but could not clear the group, he/she does not need to give the Corporate and Other Laws exam in the next attempt instead, they can just appear for the rest of the papers.

CA Intermediate Group - 2

Like CA Intermediate Group - 1, Group - 2 also consists of four papers. These are -

Paper - 5: Advanced Accounting, 

Paper - 6: Auditing and Assurance, 

Paper - 7A: Enterprise Information System

Paper - 7B: Strategic Management

Paper - 8: Financial Management and Economics for Finance

In Group 2, Paper - 7 has two parts, Paper - 7A Enterprise Information System, Paper - 7B Strategic Management. Our focus in this blog will be on the Paper - 7B Strategic Management.

Similarly as Group - 1, all the papers in Group - 2 also comprises of 100 marks each. The paper in question, that is, Paper 7 has two parts of which Paper - 7A Enterprise Information System comprises of 50 marks and Paper - 7B Strategic Management comprises of 50 marks.

To clear a paper, students need to score 40 marks and an overall of 200 marks, just as in Group - 1. If a student scores 60 or more marks in a subject they score an exemption.

How to avail exemption in CA Intermediate?

If you are a student who has appeared for the CA Intermediate exams but could not clear it, yet scored 60 or more marks in one or more subjects, you will be eligible for availing exemption. 

But just because you have scored 60 plus marks does not automatically make you eligible to avail the exemption, there are certain rules and regulations by the Institute of Chartered Accountants of India that needs to be followed. These are -

  1. A student must have scored 60 or more marks in the paper.
  2. A student must have appeared for all the papers in a group in order to claim exemption.
  3. The exemption will be valid for the next three attempts. That is, if a student has secured an exemption in May 2021, the exemption will be available till November 2022 attempt.
  4. If you have already availed exemption for one paper in one group in your previous attempt, you can not avail exemption for any other subject in the next attempt of the group until and unless your exemption has been exhausted.

Paper - 7B Strategic Management

In the words of ICAI, “The traditional role of a Chartered Accountant restricted to Accounting and Auditing, has now changed substantially and there has been a marked shift towards strategic decision making and entrepreneurial roles that add value beyond traditional financial reporting”. This shows how important the role of Strategic Management is.

The professional world is becoming increasingly complex and competitive and it is very important to hold sound decision-making skills in such a world. This is, essentially, what Strategic Management is about, making strategic decisions. In this paper you will learn about the tools and techniques that will help you with making strategic decisions.

It can be a very exciting learning experience, all you need to do is keep a positive mindset and follow the tips and tricks provided in this blog.

In this blog, we are going to talk about the syllabus of Strategic Management, different sources and books you can use to study Strategic Management, how to score good marks in Strategic Management and much more.

CA Intermediate Strategic Management Syllabus

Chapter 1
Introduction to Strategic Management
Chapter 2
Dynamics of Competitive Strategy
Chapter 3
Strategic Management Process
Chapter 4
Corporate Level Strategies
Chapter 5
Business Level Strategies
Chapter 6
Functional Level Strategies
Chapter 7
Organization and Strategic Leadership
Chapter 8
Strategy Implementation and Control

Detailed Syllabus of CA Intermediate Strategic Management

Chapter 1
INTRODUCTION TO STRATEGIC MANAGEMENT
1.1
Introduction
1.2
Business Policy
1.3
Concept of Management
1.4
Concept of Strategy
1.5

Strategic Management

1.5.1 Importance of Strategic Management

1.5.2 Limitations of Strategic Management

1.6
Strategic Levels in Organisations
1.7
Strategic Management in Government and Not-for-profit Organisations
Chapter 2
DYNAMICS OF COMPETITIVE STRATEGY
2.1
Introduction
2.2

Competitive Landscape

2.2.1 Steps to understand the Competitive Landscape

2.3
Strategic Analysis
2.4

Methods of Industry and Competitive Analysis

2.4.1 Dominant Economic Features of the Industry

2.4.2 Nature and Strength of Competition

2.4.3 Triggers of Change

2.4.4 Identifying the Strongest/Weakest Companies (Strategic Group Mapping)

2.4.5 Likely Strategic Moves of Rivals

2.4.6 Key Factors for Competitive Success

2.4.7 Prospects and Financial Attractiveness of Industry

2.5
Core Competence
2.6
Competitive Advantage
2.7

Internal and External Analysis (Portfolio Analysis)

2.7.1 Boston Consulting Group (BCG) Growth-Share Matrix

2.7.2 Anoff’s Product Market Growth Matrix

2.7.3 ADL Matrix

2.7.4 General Electric Matrix [“Stop-Light” Strategy Model]

2.8
SWOT Analysis
2.9
TOWS Matrix
2.10
Different Levels of Strategies
2.11
Globalization
Chapter - 3
STRATEGIC MANAGEMENT PROCESS
3.1
Introduction
3.2
Strategic Planning
3.3
Strategic Decision Making
3.4
Strategic Intent
3.5

Vision, Mission and Objectives

3.5.1 Vision

3.5.2 Mission

3.5.3 Goals and Objectives

3.6
Strategic Management Model
3.7
Stages in Strategic Management
Chapter - 4
CORPORATE LEVEL STRATEGIES
4.1
Introduction
4.2

Typologies of Strategies

4.2.1 Stability Strategy
4.2.1.1 Characteristics of Stability Strategy

4.2.1.2 Major reasons for stability strategy

4.2.2 Growth/Expansion Strategy

4.2.2.1 Characteristics of Growth/Expansion Strategy

4.2.2.2 Major Reasons for Growth/Expansion Strategy

4.2.2.3 Types of Growth/ Expansion Strategy

A. Internal Growth Strategies

I. Expansion through Intensification

II. Expansion through Diversification

B. External Growth Strategies

I. Expansion through Mergers and Acquisitions

II. Expansion through Strategic Alliance

4.2.3 Retrenchment Strategy

I Turnaround Strategy

II Divestment Strategy

III Liquidation Strategy

4.2.4 Combination Strategy

Chapter - 5
BUSINESS LEVEL STRATEGIES
5.1
Introduction
5.2

Porter’s Five Forces Model-Competitive Analysis

5.2.1 Threat of New Entrants

5.2.2 Bargaining Power of Buyers

5.2.3 Bargaining Power of Suppliers

5.2.4 The Nature of Rivalry in the Industry

5.2.5 Threat of Substitutes

5.3
Business-Level Strategies
5.4

Michael Porter’s Generic Strategies

  • 5.4.1 Cost Leadership Strategy
  • 5.4.2 Differentiation Strategy
  • 5.4.3 Focus Strategies

5.5
Best-Cost Provider Strategy
Chapter - 6
FUNCTIONAL LEVEL STRATEGIES
6.1
Introduction
6.2

Marketing Strategy

6.2.1 Marketing

6.2.2. Marketing Mix

6.2.3 Formulation of Marketing Strategy

6.2.4 Strategic Marketing Techniques

6.3
Financial Strategy
6.4

Production/Operations Strategy

6.4.1 Production System

6.4.2 Operations Planning and Control

6.4.3 Logistics Management

6.4.4 Supply Chain Management

6.5
Research and Development Strategy
6.6
Human Resource Strategy
Chapter - 7
ORGANISATION AND STRATEGIC LEADERSHIP
7.1
Introduction
7.2

Organization Structure

  • 7.2.1. Simple Structure
  • 7.2.2 Functional Structure
  • 7.2.3 Divisional Structure
  • 7.2.4 Multi Divisional structure
  • 7.2.5 Strategic Business Unit (SBU) Structure
  • 7.2.6 Matrix Structure
  • 7.2.7 Network Structure
  • 7.2.8 Hourglass Structure

7.3
Strategic Leadership
7.4
Strategy Supportive Culture
7.5

Entrepreneurship and Intrapreneurship

  • 7.5.1 Concept of Entrepreneur
  • 7.5.2 Concept of Intrapreneur

Chapter - 8
STRATEGY IMPLEMENTATION AND CONTROL
8.1
Introduction
8.2
Strategy Implementation
8.3
Issues in Strategy Implementation
8.4
Strategic Change
8.5
Strategic Control
8.6
Strategy Audit
8.7
Business Process Reengineering
8.8
Benchmarking

Chapter One

The syllabus of Strategic Management is divided into eight chapters. It comes for 50 marks in the examination. Chapter one introduces the students to the world of Strategic Management with the concepts of Business Policy, the meaning and nature of Strategic Management, Business Strategy, the different Strategic Levels in an organization, and also how Strategic Management works in Government and Not-for-Profit organizations.

Chapter Two

The second chapter talks about the dynamics of competitive strategy, the competitive landscape and how strategic analysis works. It also helps you understand different industries and how competitive analysis is done in such industries. Then the chapter goes on and talks about what core competency is and the meaning of competitive advantage.

It helps you understand how internal and external analysis is done. It talks about different matrices used for such analysis, such as the Boston Consulting Group (BCG) Growth Share Matrix, Anoff’s Product Market Growth Matrix, ADL Matrix, and General Electric Matrix.

This chapter also introduces students to internal and external analysis tools such as SWOT analysis and TOWS Matrix. Later on, it talks about Globalization and the changes and opportunities brought by it.

Chapter Three

The third chapter of Strategic Management talks about the Strategic Management Process in detail. This includes Strategic Planning, Strategic Intent and Strategy Formulation. This chapter tells you what mission, vision, objectives, and goals are and their similarities and differences. It tells you about the Strategic Management Model and the different stages in Strategic Management.

Chapter Four

Chapter four of Strategic Management talks about the Corporate Level Strategies. It includes the concept and nature of corporate strategy and tells us about the different strategic alternatives at the corporate level. These include different types of strategies such as Stability Strategy, Growth/Expansion Strategy and its types, types of Retrenchment Strategy, and Combination Strategy.

Chapter Five

This chapter includes the details about Business Level Strategies. It talks about the Porter’s Five Forces Model of Competitive Analysis and Michael Porter’s Generic Strategies. This is a very scoring chapter from an exam point of view. It also talks about the best cost provider strategy.

Chapter Six

Chapter six of Strategic Management is about the Functional Level Strategies. It includes an introduction to the Functional Level Strategies, Marketing Strategy, Financial Strategy, Production/Operations Strategy, Research and Development Strategy, and Human Resource Strategy.

Chapter Seven

Further On as we move towards the end of the syllabus, we get better equipped with the knowledge of organization and strategic leadership. The chapter seven of Strategic Management talks about the different Organization Structure. It tells us about Strategic Leadership and Strategy Supportive Culture. It differentiates Entrepreneurship and Intrapreneurship which, again, is a scoring topic from the exam point of view.

Chapter Eight

The last chapter of Strategic Management is called Strategy Implementation and Control. It introduces strategy implementation, issues in strategy implementation, strategic change, strategic control, strategy audit, business process reengineering and benchmarking.

By the end of the syllabus, students become well equipped with the concept of strategic management and how it can be performed on a day to day basis to ensure smooth implementation of ideas in professional life as well as in personal life.

Section-wise Weightage for Paper 7B: Strategic Management

Intermediate Course Paper 7B: Strategic Management (50 Marks)
Sections
Weightage
Content Area
Part II: Strategic Management (50 Marks)
I
10% - 20%
1. Introduction to Strategic Management
(i) Business Policy
(ii) Meaning and Nature of Strategic management
(iii) Business Strategy
(iv) Strategic levels in organizations
(v) Strategic Management in Government and Not-for-profit organization
II
10% - 20%
2. Dynamics of Competitive Strategy
(i) Competitive Landscape
(ii) Strategic Analysis
(iii) Industry and competitive Analysis
(iv) Core Competence
(v) Competitive Advantage
(vi) Internal and External Analysis
(vii) SWOT Analysis
(viii) Globalization
III
10% - 20%
3. Strategy Management Process
(i) Strategic Planning
(ii) Strategic Intent - Vision, Mission and Objectives
(iii) Strategy Formulation
IV
10% - 20%
4. Corporate Level Strategy
(i) Concepts and Nature of Corporate Strategy
(ii) Strategic Alternatives at Corporate Level
a) Stability
b) Growth/Expansion
c) Business Combinations – Merger and Acquisition
d) Strategic Alliances
e) Retrenchment/Turnaround
f) Combination
V
10% - 20%
5. Business Level Strategies
(i) Competitive strategies at Business Level
(ii) Michael Porter’s Generic Strategies
(iii) Best-Cost Provider Strategy
VI
10% - 20%

6. Functional Level Strategies

(i) Marketing Strategy

(ii) Financial Strategy

(iii) Operations Strategy

(iv) Human Resource Strategy

(v) Research and Development

VII
10% - 20%

7. Organisation and Strategic Leadership

(i) Organisation Structure

(ii) Strategic Business Unit

(iii) Strategic Leadership

(iv) Strategy Supportive Culture

(v) Entrepreneurship and Intrapreneurship

VIII
10% - 20%

8. Strategy Implementation and Control

(i) Strategy Implementation

(ii) Strategic Change

(iii) Strategic Control

(iv) Strategy Audit

(v) Business Process Reengineering

(vi) Benchmarking

Skill-wise Weightage for Paper 7B: Strategic Management

Paper
Intermediate Course
Level I
Comprehension & Knowledge
Level II
Analysis &  Application
7B
Strategic Management
50% - 70%
30% - 50%
Skill Level
Description of skills
Nature of Questions
Illustrative verbs
Comprehension & Knowledge
Knowledge involves recognizing or remembering facts, terms and basic concepts.
Comprehension involves demonstrating an understanding of facts.

Questions set at this level require recognition and recall of concepts, principles and provisions.

Such questions may involve recalling a definition, explaining a concept, describing a process, discussing a provision of law, listing the conditions to be satisfied or classifying under the appropriate head.

List, State, Define, Describe, Explain, Recognize, Identify, Classify, Discuss
Analysis & Application
Application involves use of acquired knowledge in problem-solving. Analysis involves identifying issues and examining the same to resolve problems.

Questions set at this level require applying and analysing concepts/provisions/theories/principles learnt, in problem solving.

Such questions may involve making computations/ calculations/estimations, examining issues, reconciling bank statements, solving problems by integrating provisions, identifying the nature of expenditure or income, determining profit or loss etc.

The level of complexity ranges from low to moderate.

Application:

Apply, Identify, Prepare, Calculate, Reconcile, Solve

Analysis:

Analyse, Examine, Compute, Solve, Advise, Determine, Estimate

Which books to refer for CA Intermediate Strategic Management?

The Study Materials and other supplements provided by the Institute of Chartered Accountants of India are the best resources to prepare for CA Intermediate exams. Since the Institute itself provides the books, the questions present in these books become very important from the exam point of view.

The resources provided by the Institute of Chartered Accountants of India for the benefits of the students are mentioned below.

Study Material

The study modules provided by the ICAI encompassing the entire syllabus of the paper is the main book students need to use for their preparation. There are a lot of books available in the market. However, the main source of study should always be the Study Materials provided by the Institute of Chartered Accountants of India.

The Study Material by the ICAI is designed in a manner that well-equips the students with the concepts of Strategic Management. It is designed in a systematic way and has the ‘learning objectives’ of each chapter mentioned clearly in the very beginning. 

This ensures that students know beforehand what they are supposed to learn from each chapter. Then the chapter summary is given at the end of the chapter to summarise what the students have learnt in that chapter.

The latest editions of Study Materials include the practice questions at the end of each chapter. The answers for each of the questions are also available. These questions are very important from the exam point of view, and you can find them appearing in your exams as well.

Students can download the Study Material for CA Intermediate Strategic Management relevant for May 2021 exam onwards by clicking here.

Reference Book for CA Intermediate Strategic Management

Some students get overwhelmed by Strategic Management. Sometimes it is because of the Study Material's language or a lack of command over the English Language itself. This can prove to be a hindrance in students' performance in the Strategic Management Paper.

Since there are a lot of technical aspects to the subject, it becomes a requirement to use a supplementary book along with the Institute's Study Material. But choosing the right supplementary reading is also a crucial point. 

Students need to choose a book that is easy to understand for them and have many visual aids such as charts and memory maps. This helps students to avoid the hindrance caused by the language of the study material.

For this, students can take the help of a reference book for their exam preparation. The best kind of reference book for Strategic Management is one that contains a lot of charts and memory maps. One such book is Sanjeevni Booti by CA Neeraj Arora. Students who subscribe to Strategic Management by CA Neeraj Arora get this book absolutely free.

Practice Manual

The Institute of Chartered Accountant of India does not provide the Practice Manuals anymore. Instead, the practice questions are mentioned in the Study Material itself.

However, students should download the old Practice Manuals for Strategic Management from the Institute’s website as it contains a lot of questions and students can find out the questions relevant as per their syllabus and practice them as they too have a good chance of coming in the exams.

MCQs and Case Scenarios for Strategic Management

Earlier the Multiple Choice Questions and Case Scenarios were mentioned in the Study Material itself. But from the December 2020 edition onwards, the Institute has released these Multiple Choice Questions and Case Scenarios separately.

This booklet issued by the Institute of Chartered Accountants of India starts with talking about how Chartered Accountants as Strategists bridge the Competence Gap. It tells us how Strategic Management is Dynamic and Business Oriented. 

It gives tips to students on what should be the approach to attempt the Multiple Choice Questions in the exams. At the end, it tells us how important practice is to succeed in the exam.

The December 2020 edition of the Multiple Choice Questions and Case Scenarios booklet contains 125 Multiple Choice Questions and 25 case scenarios.

Students can view and download the Multiple Choice Questions (MCQs) and Case Scenarios booklet for Strategic Management by clicking here.

If you think these MCQs are not enough for you and you need to practice more MCQs then you can check out the CA Intermediate Strategic Management MCQs available at Edu91 for absolutely FREE. Click here.

You can also check out the case based MCQs by clicking here.

Revision Test Papers

Every year the Institute of Chartered Accountants of India issues Revision Test Papers booklet for each attempt. These include the Amendments made in the curriculum due to the changes in different laws and guidelines issued. 

These books also include chapter-wise important questions and other important questions for the exams. Students must not skip the Revision Test Papers provided by the Institute of Chartered Accountants of India as it can help them to score about 10-15 marks in the exam.

Students can download the Revision Test Papers by clicking on the following links -

Attempt
Medium
Direct Link
November 2020
EnglishDownload
November 2020
HindiDownload
May 2020
English
Download
May 2020
Hindi
Download
November 2019
English
Download
November 2019
Hindi
Download
May 2019
English
Download
May 2019
Hindi
Download

Mock Test Papers

The Institute of Chartered Accountants of India issues Mock Test Papers before each attempt. 

Students should practice these papers as they help with the understanding of the paper, and also include questions which might come in the exam.

Students can download the Mock Test Paper for Strategic Management by clicking here.

To download the answer for the above Mock Test Paper, students can click here.

Previous Years Question Papers

The Institute of Chartered Accountants of India also provides Previous Year Question Papers on the Board of Studies’ Knowledge Portal. These are a very good source of practice. Students can solve these question papers to get an idea of the kind of questions to be asked in the exam. 

Students can also use it as a tool to access their preparation. Some of the questions asked in Previous Year papers also get repeated, so it is good to be thorough with the previous year’s questions.

Students can download the Previous Year Question Papers of CA Intermediate Strategic Management from the following links -

Attempt
Direct Link
November 2020
Download
November 2019
Download
May 2019
Download
November 2018
Download
May 2018
Download

Suggested Answers

Along with the Previous Year Question Papers, the Institute of Chartered Accountants of India also provides the Suggested Answers for such papers on the Knowledge Portal of Board of Studies. 

These answers give students an idea of the level of the responses expected at the Intermediate level and what is the best way to present the answers. Students are highly recommended to cross-check their answers of Previous Year’s Question Papers with the Suggested Answers provided by the Institute for the same.

Students can download the Suggested Answers for the Previous Year Question Papers from clicking the following links -

Attempt
Direct Link
November 2019
Download
May 2019
Download
November 2018
Download
May 2018
Download

How to study CA Intermediate Strategic Management?

Strategic Management is a subject in which students might need some guidance. You can surely do self-study for Strategic Management. While self-studying, one thing to keep in mind is to ensure you are studying from the Institute’s Study Material. 

Even if you are referring to some other book for preparation, make sure your main book is always the Institute of Chartered Accountants of India’s Study Material.

Since Strategic Management is a subject full of concepts and matrices, some students might feel the need to take classes. Taking classes help the students to understand the topics better. Strategic Management is the kind of subject in which students can use some guidance.

If you are looking for quality classes for Strategic Management at a very affordable price point then you should definitely check the classes provided by Edu91.

Strategic Management Classes by Edu91

On Edu91, Strategic Management classes are provided by CA Neeraj Arora sir. The best thing about the classes provided by CA Neeraj Arora sir is his teaching method, which he calls ‘Edutainment’. 

It is a combination of Education and entertainment, that is, the classes will be in a manner that will be entertaining and being educating. This becomes very important for a subject like Strategic Management.

His classes are full of real-life examples and real-life application of the concepts of Strategic Management. Students are taught in a manner that enhances their understanding and helps them retain what they have learned. 

The classes are available in different formats, and students can choose the classes as per their convenience. The different formats are -

  1. Pendrive classes
  2. Google drive classes
  3. Android app classes

Pendrive classes for Strategic Management

These classes are available for students in a pendrive format. Students who subscribe to this course will get a pendrive delivered to their address, and they can access the classes through it. The classes provided are a blend of Live class recordings and studio recordings.

The pendrive course will run on only one computer. Students can check the system requirements on Edu91. You can choose pendrive classes if you live in an area with low internet connectivity as the internet is only required at the time of software installation, and then you can view the classes without the need of the internet.

The classes are available on a huge discount on Edu91, students can check it out by clicking here.

Google Drive classes for Strategic Management

The classes are also available on Google Drive. These classes can be accessed online. The tracking id and serial key is provided online. Internet connection will be required to watch the videos. The notes are provided in pdf form.

You can check out the Google drive classes for Strategic Management from here.

Android App classes for Strategic Management

Another mode through which students can access Edu91 classes is through Android app. For this, students need to download the Edu91 app. Though internet connection is required to watch the videos, the Edu91 app uses very less data.

Students can check out the details of the course and subscribe for the classes from here.

Features of Edu91 Classes

  1. All the classes can be viewed 3 times fully.
  2. The lectures are full of Edutainment, that is, Education and Entertainment.
  3. The classes are according to the materials provided by the Institute of Chartered Accountants of India, such as, Study Materials, Revision Test Papers, Mock test Papers, etc.
  4. Special Question Bank videos are provided along with the course material which helps students in better understanding.
  5. Doubt support is provided through Telegram.
  6. The method of study is a combination of Understanding and ‘Rattafication’, that is you will receive the understanding and also learn the keywords and topics by heart.
  7. The course also focuses on discussion on practical aspects of the subject and other matters with the help of practical life examples and implication of strategies.

Prize Policy

If all this is not lucrative enough, there is also a Prize policy at Edu91. If a student scores exceptional in the subject they can win cash prizes. The prize policy is as follows -

  1. If students score 70 to 74 marks then they can win ₹1,100.
  2. If students score 75 to 79 marks then they can win ₹5,100.
  3. If students score 80 to 85 marks then they can win ₹11,000.
  4. If students score 86 to 89 marks then they can win ₹21,000.
  5. If students score 90 marks or above then they can win a prize of ₹51,000.
  6. If students get a rank then they can win a prize of ₹5,100 along with the prizes mentioned above.

How to score good marks in Strategic Management?

Strategic Management is a very interesting subject if students study it with the right approach. It is a subject revolving around business and entrepreneurship. If you are interested in business, then you would really like this subject.

There are few topics in Strategic Management that students try to mug up, like Strategic Group Mapping instead of looking at the implications of such topics in the lives of different businessmen. The only way to score good marks in Strategic Management is through understanding the topics well.

Strategic Management papers are very easy, it’s us who are not able to perform well. So, I’ll mention a few tips that will help you score good marks in Strategic Management if you imply well.

Tips to score good marks in Strategic Management

1. Understanding the topic

Understanding the topic is a must if you want to score good marks in Strategic Management. If there is a topic your teacher did not teach you, or a topic you could not understand well, just go on Google and search for that topic. You’ll get practical examples on that topic and the basic explanation that will help you understand the topic better.

2. Learn the keywords

Keywords are some of the important and technical words in an answer which enhances the presentation of your answers. Let’s take an example of Business Process Reengineering. 

From this chapter, if someone asks you what is Business Process Reengineering, how will you answer it? Even when you have a good understanding of the topic you can not just answer in a layman’s terms.

What is Business Process Reengineering? It is the ‘analysis’ and ‘redesigning’ of ‘workflows’ and ‘processes’. These are the keywords - analysis, redesigning, workflows, and processes. You need to include the words like these.

For this, after you have understood a topic, open the Institute’s Study Material and underline such keywords. Learn them well and mention these in your answers in the exam.

3. Parapoints not points

Nowadays, when a student is asked what is Strategic Management? They straightaway start answering in points. That is wrong. ICAI is asking what the meaning of Strategic Management is and you need to use parapoints.

What are parapoints? It is a combination of writing in paragraphs and points. You need to understand what the question is asking for. If it is saying to ‘explain’, ‘describe’, etc, you need to write in small paragraphs of two to three lines each. 

Whereas if the question is asking for ‘steps’, ‘process’, ‘advantages’, ‘disadvantages’, etc, you need to first describe the meaning in the first paragraph and then proceed with your points.

Basically, you have to look at how the questions are answered in the Institute of Chartered Accountants of India’s Study Materials and Suggested Answers and proceed in the same manner.

4. Use charts in your answer

One thing you need to pay attention to while preparing for your exams and while answering the questions in your exam is to make charts. The charts you make while preparing for your exams helps you at the time of revision. 

Using these charts in your answer sheet in exams gives a good impression on the teacher and helps you score good marks in the exam. Try to make as many charts and diagrams in your answer sheet as possible and then explain your charts through texts.

5. How to write the answer

This is where all your preparation for the exams ends at. How to write the answers in Strategic Management? Let’s understand this with an example. Suppose you are asked ‘Write the steps of Business Process Reengineering.’ Instead of directly starting your answer with the steps, give an introduction.

To answer this question start with describing the meaning of Business Process Reengineering and then go on to describe the steps of Business Process Reengineering next. Write the five steps and make charts for the same. And then end your answer with a conclusion.

To be able to answer in this manner you need to practice writing the answers during your preparation. If you will try to make charts for the first time in the exams itself, you would not have enough time to finish your paper. Practice answering the question from the very beginning and you can do really well in the exams.

6. Follow the Institute’s Materials

No matter whom you are taking classes for, you need to study from the resources provided by the Institute of Chartered Accountants of India. Follow the Study Materials, Revision Test Papers, Mock Test Papers, Suggested Answers, etc provided by the Institute.

7. Give enough time to Strategic Management

Students dedicate a good amount of their preparation time to subjects like Accounts and Tax but do not pay enough attention to Strategic Management. Simply reading the answers from the Study Materials is not going to help you in the exam, you need to practice. 

After finishing a chapter try to solve at least five questions from it. Practice enough Test Papers for Strategic Management. The more you practice, the better are your chances of scoring in the exam.

CA Inter Strategic Management Paper Pattern

Strategic Management comes for 50 marks in the exam. The questions are a mix of Multiple Choice Questions, Case Based Scenarios, and Descriptive type questions. The question paper is divided into two parts - Part I and Part II.

Part I

The Part I of the Strategic Management Paper comprises of Multiple Choice Questions and case study based questions. This section comes for 15 marks in the exam. The answers are to be marked in the OMR sheet provided to the students. This OMR sheet needs to be submitted to the examiner along with the MCQ booklet.

Part II

The Part II of the question paper comes for 35 marks. This include five questions numbered 6 to 10. The first question, Question Number 6, is compulsory. Out of the remaining 4 questions students have to answer any 3 questions. These questions are to be answered in descriptive format.

You can check out the paper pattern from the previous year papers, access them by clicking here.

How to revise CA Intermediate Strategic Management?

Mere preparation for the CA Intermediate exams is not enough to score good marks in the exam. Students need to have thorough revisions of each topic to ensure they understand the topic well. 

There are several ways students can revise for their Strategic Management paper. If students have made short notes or summary notes while preparing the subjects they can go through that.

If you are someone who understands better by watching videos then you can go on YouTube and search for topics and have revisions from there. There are a lot of revision videos available on YouTube so you need to understand which videos to follow. 

Videos are a very good way of understanding topics, we made a playlist of Strategic Management Revision videos which are surely going to help you for your exams. You can access them by clicking the below link.

Other Resources offered by Edu91

Edu91 has launched a series of resources for the benefits of the students such as quick revision videos, free MCQs and Case Based MCQs, etc. Here are the links for a few of the resources that students can use to help them in their exam preparation.

Question Compilation for CA Intermediate Strategic Management

This compilation includes all the MCQs, Previous Year questions, Revision Test Paper questions, and Mock Test Paper questions provided by the Institute of Chartered Accountants of India. You can find all of Institute’s questions at one single place. You can find the compilation by clicking here.

CA Intermediate Strategic Management MTP Discussion

This is a playlist which includes Mock Test Paper discussions for CA Inter Strategic Management. Students can search for the playlist or individual videos on YouTube or directly access them by clicking here.

Strategic Management Revision Test Paper Full Discussion

In this video, Neeraj Arora Sir has discussed the complete Revision Test Paper questions for Strategic Management for November 2020. You can watch the complete discussion on YouTube or from the link mentioned below.

You have everything you need to start your preparation for your CA Intermediate Strategic Management exam. You can score good marks in your exams by following the tips mentioned in the blog.

Good Luck!

{{Prakriti Srivastava}}