Is Strategic Management and Corporate Finance a new CS Professional paper?

Yes. It was introduced by the ICSI New Syllabus 2022, effective 1 August 2023. Strategic management moved up from the old CS Executive Financial and Strategic Management paper, and was combined with corporate finance into a new Group 2 paper.

Does this overlap with CS Executive Paper 4?

Only partly. CS Executive Paper 4 covers corporate accounting and financial management - capital budgeting, cost of capital and working capital at a foundational level. This paper builds on the finance side and adds strategic management, which does not appear in the Executive syllabus at all under the new scheme.

Which half carries more marks?

ICSI does not publish a fixed split and the balance varies by session. Plan for roughly even weighting - students who neglect the finance half because they find strategy easier to write tend to lose the most marks.

CS Professional Strategic Management and Corporate Finance Classes

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CS Professional Paper 5 - Strategic Management and Corporate Finance

This paper is new to CS Professional under the ICSI New Syllabus 2022. Strategic management moved up from the old CS Executive FM & SM paper and was joined with corporate finance to form a single 100-mark paper opening Group 2. It is the most commercially-oriented paper in the programme.

Part A - Strategic management

Strategy fundamentals - vision, mission, objectives and the levels of strategy
Environmental and industry analysis - PESTLE, Porter's Five Forces, SWOT and value chain
Strategy formulation - corporate, business and functional; BCG and GE matrices; Ansoff's grid
Strategy implementation, organisational structure, change management and strategic control
Digital transformation and its governance implications for the board

Part B - Corporate finance

Sources of corporate finance - equity, debt, hybrids, and the choice between them
Capital structure decisions, leverage, cost of capital and WACC
Project finance and appraisal; lease versus buy decisions
Working capital and treasury management, including forex and interest rate exposure
Introduction to business valuation and the finance function's interface with the board

How to approach it

The strategy half is descriptive and rewards frameworks applied to a given company, not recited. The finance half is numerical and small enough to master through repetition. Students from a CS Executive background under the new syllabus meet strategic management here for the first time - do not assume it carries over from Paper 4 of Executive, which is financial management only.

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