CIMA Frameworks

 The RACE and BLT frameworks are not formal, universally recognized business models from a specific author or publication. Instead, they are pedagogical tools developed by educators, like CIMA tuition providers, to help students structure their answers in a clear, concise, and professional manner, particularly for case study exams. They simplify the process of applying complex business theories to a practical scenario under exam pressure.

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Other Relevant Frameworks and Models

While RACE and BLT are about structuring your answer, the following are well-known strategic and analytical frameworks that provide the content for your analysis. You'll need to use these to support your arguments within the RACE or BLT structure.

• SWOT Analysis: A foundational tool for understanding an organization's internal and external environment. It stands for:

  • Strengths: What the company does well internally.

  • Weaknesses: Internal areas for improvement.

  • Opportunities: External factors that the company can leverage.

  • Threats: External risks that could harm the company.

• PESTLE Analysis: This framework helps to understand the wider macro-environment.

  • Political: Government policies, stability, tax laws.

  • Economic: Economic growth, interest rates, inflation.

  • Social: Cultural trends, demographics, consumer behavior.

  • Technological: New technology, R&D, automation.

  • Legal: Employment law, health and safety regulations.

  • Environmental: Climate change, pollution, sustainability.

• Porter's Five Forces: Developed by Michael Porter, this model analyzes an industry's competitive intensity and attractiveness.

  • Threat of new entrants: How easy is it for new competitors to enter the market?

  • Bargaining power of suppliers: How much power do suppliers have over the company?

  • Bargaining power of buyers: How much power do customers have?

  • Threat of substitute products: Can customers switch to a different product or service?

  • Competitive rivalry: The intensity of competition among existing firms.

• Balanced Scorecard: Created by Robert Kaplan and David Norton, this framework provides a holistic view of business performance beyond just financial metrics. It organizes objectives into four perspectives:

  • Financial: How do we look to shareholders? (e.g., profitability, revenue growth)

  • Customer: How do customers see us? (e.g., customer satisfaction, market share)

  • Internal Business Processes: What must we excel at? (e.g., operational efficiency, innovation)

  • Learning and Growth: Can we continue to improve and create value? (e.g., employee skills, technology)