Strategy, Governance and Ethics – KASNEB Syllabus



This paper is intended to equip the candidate with knowledge, skills and attitudes that will enable him/her to formulate and implement strategies and demonstrate good governance and ethical practices.


A candidate who passes this paper should be able to:

  • Analyse the environment and its impact on strategic decision making
  • Formulate and implement a strategic plan
  • Practice the tenets and principles of good governance
  • Comply with ethical principles in an organisation


Overview of management

  • Importance of management
  • Principles of management
  • Management as a science, an art or a profession
  • Functions and roles of management
  • Levels of management and managerial skills
  • Management and administration
  • Overview of management functions

Development of management thought

  • Pre-industrial revolution management theories
  • Classical theories, neo-classical theories
  • Contemporary theories

Overview of corporate strategy, governance and ethics

  • Meaning of strategy, management and strategic management
  • Scope of strategic management
  • Levels of strategic management
  • Benefits of strategic management
  • Limitations of strategic management
  • Meaning of Governance and Ethics
  • Importance of Governance and Ethics
  • Principles of good governance
  • Overview of theories in governance and ethics

Strategy formulation

  • Environmental analysis
  • Organisational vision and mission
  • Organisational goals and objectives
  • Development of corporate strategy and business strategy
  • Strategic options
  • Strategy formulation constraints
  • Competitive advantage

Strategy implementation

  • Organisational structure
  • Resource allocation
  • Organisational culture
  • Role of leadership on strategy implementation
  • Innovation and knowledge management
  • Constraints to strategy implementation
  • Management of strategic change

Strategic monitoring and evaluation

  • Purpose and role of strategic monitoring and evaluation
  • Process of strategic monitoring and evaluation
  • Tools of strategic monitoring and evaluation
  • Role of management information systems
  • Performance measurement; balance scorecard and benchmarking
  • Features of good strategic monitoring and evaluation systems
  • Review and feedback
  • Continuous improvement

The Board of Directors

  • Appointment, composition and size
  • Role and functions
  • Executive, non-executive and independent directors
  • Committees of the Board
  • Board meetings
  • Board work plan
  • Board induction and continuous skills development
  • Board manual and charter
  • Board performance evaluation
  • Board remuneration
  • Term limits for non-executive Board members
  • Succession planning
  • Liability and insurance indemnity
  • Appointment of the Chief Executive Officer
  • Appointment of the Certified Secretary
  • Separation of roles
  • Role of the board in performance management
  • Role of the Board in stakeholders management

Accountability, risk management and internal control

  • Financial reporting
  • Integrated reporting
  • Strategies and processes in enterprise risk management
  • Board’s role in enterprise risk management
  • Internal controls
  • Internal auditor
  • Audit Committee
  • External auditor
  • Internal Audit Charter and work plan
  • Role of the Board in the procurement process

Sustainability and social investment

  • Sustainability goals and strategy
  • Triple bottom line
  • Social responsibility investments
  • Corporate social responsibility
  • Environmental management
  • Ethical issues in CSR
  • Strategies and policies on CSR
  • Creating and registering foundations to manage CSR
  • The impact of CSR on shareholder value
  • Social audit
  • Corporate reputation and image

Ethics and corporate disclosure

  • Ethical norms, morality, values and ethical culture
  • Role of the board in promotion of ethical conduct
  • Professional judgement
  • Code of ethics
  • Standards of conduct and personal integrity
  • Ethical dilemmas
  • Ethics committee
  • Ethics training
  • Conflict of interests and related party transactions
  • Insider trading
  • Policy and guidelines on payments and gifts
  • Corporate disclosure policy and strategy
  • Benefits of disclosures and transparency
  • Disclosure barriers
  • Financial and non-financial disclosures
  • Whistle blowing

Case studies in strategy, governance and ethics

Emerging issues and trends

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