Answer Plans Flashcards
How can Trimayr use Business Intelligence System (BIS) to make informed management decisions?
-BIS (is a tech driven process to collect, process and analyse internal and external data)
Point 1- Customer Feedback Analysis
Point 2 - Product/Service portfolio decisions
Point 3- Identify emerging trends
Point 4- Franchisees performance management
Point 5 - Expansion Decisions
Point 6 - Optimising Marketing Spend
How Adopting Integrated Reporting may help give stakeholders a perception beyond financial value?
I.R is reporting that covers financial and non financial information to (provide a view of performance and how companies create value over time)
Point 1- Allows stakeholders to look at Environmental, social and governance (ESG) factors
Point 2- Allows stakeholders to look at range of resources and capital used/affected by organisation
Point 3 - Reliance on capital (human, social&relationship, natural, intellectual)
Key stages how a project should be managed by a project manager?
5 stage approach for project management:
1) Initiation
2)Planning
3)Implementation
4)Control
5)Completion lmk
How do you handle staff issues at Trimayr?
-Nature of staff issue: disciplinary matter
-Handling of issue(s) : should comply with company policies and procedures
1st) Inappropriate for any manager/supervisor to call out employee infront of peers
2nd) Disciplinary issues has steps to follow (warnings, informal chat, reasonable time and support)
3rd) Breakdown of reporting lines and communication (wrong people informed)
-HR department should step in to resolve the issues
What is the accounting treatment for Costs in schedules and its challenges?
1) Different elements of expenditure - need to be broken down and accounted separately
- Hardware (Tangible, non-current asset) - IAS 16
-Software Licenxe (Intangible Asset) - IAS 38
-Consultancy Fees (IAS 38)
-Software Upgrades (IAS 38)
-Work undertaken by IT staff (IAS 38)
-Training and maintenance costs - these count as operational costs (written off as expense)
Risks associated with a system reconfiguration project?
- Implementation Delays
-Data migration Risks
-Cost overruns
-Cybersecurity issues
-Vendor dependence
How a Project Manager can gain the necessary co- operation and commitment from staff?
- Communicate importance and benefits of project
-Provide training and ongoing support to staff
-Encourage participation
-Recognise and reward staff for contribution
Evaluation of argument between franchise management and recruitment giving rise to suboptimal behaviour?
Suboptimal behaviour (it is when teams prioritise own department goals over Trimayr’s)
-Blame shifting
-Over time (leads to failure, impacts performance and reputation)
How Trimayr can realign incentives and responsibilities between Franchise management and recruitment to support long term franchisee success?
-Review and revise current incentive and responsibilities where necessary
-Introduce joint KPI’s that hold both teams accountable
