Question $1(25$ marks$)($This question comes from the Jan$/$Feb $2024$ supplementary exam$)$

Eagle Logistics $($EL$)$ was started many years ago when its founder Amir Singh, invested his retrenchment package into establishing the business. Amir has retired and handed over the business to his two sons, Hassan and Rohan. EL is a specialist in international logistics solutions with its head office in South Africa with international branches in Mauritius, Australia, Germany, Netherlands, UK$,$ Hong Kong, and China. EL owns no physical assets. Over $80\%$ of their earnings come from outside of South Africa and across multiple major trade routes. As the company gets larger its ability to aggregate client volumes and logistics needs increases, allowing them to leverage their network for cost$-$effective solutions compared to asset$-$heavy competitors.

EL has achieved success by providing a very differentiated service to its customers. EL$$s strategic objective has been to exploit market opportunities to achieve a high level of return on investment. Father and Sons have been very involved in the business where they carried out all the strategic planning and operational management activities. One could call their approach to strategic planning as Freewheeling opportunism.

Now that their Father has retired, Hassen and Rohan know that to continue to grow the business they will need to raise more capital, and they will have to appoint other senior managers to maintain the operational side of the business. This will free up the brothers to focus more on the strategic development of EL$.$ The brothers are considering raising new capital through REQUIRED:

a$)$ Explain how the strategic planning of EL might alter if the organisation raises additional funds by listing on the JSE. $($Do not provide a theory dump on the strategic process, no marks will be awarded$).$

$(13$ marks$)$

b$)$ Discuss the most appropriate strategic planning process that EL should adopt in order to satisfy its organisational objectives following the public issue of shares on the JSE

$(12$ marks$)$

$[25$ marks$]$listing on the Johannesburg Stock Exchange $($JSE$)$