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CIMA > E2 flash cards > Flashcards

E2 flash cards

1
Q

5 things that must align to create value at an appropriate cost

A
  1. Partners
  2. Resources
  3. Processes
  4. Activities
  5. Outputs
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2
Q

Capture residual value value through which 3 models?

A
  • sharing surplus
  • cost model (efficiency, activity level, resources consumed, price paid for resources)
    -Revenue model (price charged, collection policy)
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3
Q

Role of CEO

A

Create vision & mission
Strategic planner
Promote innovation
drive excellence

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4
Q

Role of board

A

Inspirational leadership
Influence externally
Collaboration
Building talent
Business judgement
Execution

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5
Q

Digital Operating models (5)

A
  1. Customer Centric - customer lives easier
  2. Extra frugal - high quality, low cost
  3. Data-powered - analytics, agile
  4. Skynet - machines, engineer-led
  5. open & liquid - outward focus, sharing culture
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6
Q

5 Strategies to build disruptive business models

A
  1. Build - core business, can hire the talent
  2. Buy - not core business, can’t hire talent
  3. Partner - no strategic need to own, learn from digital natives
  4. Invest - start ups connect with established company, doesn’t hinder entrepreneurial
  5. Incubate/accelerate - internal resources deployed to help start ups
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7
Q

Orchestration vs complexity grid

A

Tight orchestration & high complexity - Lions pride
Tight orchestration & low complexity - Wolf pack

Loose orchestration & high complexity - Hornets nest
Loose orchestration & low complexity - shark tank

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8
Q

Participants in business ecosystems

A

Role, reach, capability

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9
Q

Interactions in business ecosystems

A

Roles, Connections, Course

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10
Q

Emerging tech is creating an environment that is…

A

connected & open
Simple & intelligent
Fast & scalable

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11
Q

Porters 5 forces are

A

competitive rivalry
threat of new entrants
threat from substitutes
power of buyers
power of suppliers

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12
Q

Power definition & 5 sources of

A

def: capacity to exert influence to make someone act according to your preferences

5 sources: Reward, Coercive, Referent, Expert, Legitimate

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13
Q

Authority definition & 3 bases of

A

def: right to exercise power/exert influence (can be delegated)

3 bases: charismatic, traditional, rational/legal

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14
Q

Responsibility definition

A

Obligation to perform certain duties/tasks/decisions

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15
Q

Accountability definition

A

Justify failure to fulfill responsibilities

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16
Q

Empowerment definition

A

can to do task with out constant direction

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17
Q

5 function of management

A

forecasting & planning
organising
coordinating
commanding
controlling

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18
Q

Concept of scientific management

A

one best approach to the job
money = motivator
well trained = high productivity

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19
Q

Concept of Bureautic management

A

fomalisaition & standardisation
hierarchy & rules

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20
Q

Human relations: maslows hierarchy of needs 5 levels

A
  1. self actualisation
  2. ego
  3. social
  4. safety/security
  5. basic
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21
Q

Herzbergs hygiene/motivating factors

A

Hygiene - policies, job security, pay, working conditions
Motivators - achievement, advancement, growth, responsibility, recognition

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22
Q

5 types of leader

A
  1. charismatic
  2. traditional
  3. situational
  4. appointed
  5. functional
23
Q

transactional vs transformational leaders

A

transactional - a trade with followers
transformational - inspiring & motivating, changes culture

24
Q

Leadership styles (3)

A

Democratic - work together, productive/satisfying
laissez faire - you sort it, fairly productive
authoritarian - do this now, not productive, frustration

25
Q

Theory X & Y

A

Theory X - people dislike work
Theory Y - enjoy work, self motivated

26
Q

Managerial grid (people vs task):
1.1
1.9
5.5
9.1
9.9

A

1.1 - impoverished
1.9 - country club
5.5 - middle road
9.1 - task oriented
9.9 - team style

27
Q

Most effective of psychologically distant or close determined by 3 factors:

A
  1. leader/member relations
  2. task structure
  3. leader position power
28
Q

Adair’s action centered leadership: task needs

A

info seeking
diagnosing
opinion seeking
evaluating
decision making

29
Q

Adair’s action centered leadership: group needs

A

communicating
team building
disciplining
encouraging
peace keeping
standard seeking

30
Q

Adair’s action centered leadership: individual needs

A

Goal setting
feedback
counselling
developing
motivating

31
Q

Belbin’s Team Roles (9):
Coordinator
shaper
plant
monitor-evaluator
team worker
resource investigator
implementer
completer-finisher
specialist

A

Coordinator - good chair person, delegates well
shaper - promotes activity, thrives with pressure
plant - creative, thoughtful, problem solver
monitor-evaluator - strategic, judge all options
team worker - averts friction, cooperative
resource investigator - outgoing, develops contacts
implementer - practical & efficient, ideas to action
completer-finisher - conscientious, delivers on time, finds errors
specialist - knowledgeable, dedicated

32
Q

Disciplinary process (5 steps)

A
  1. informal talk
  2. oral talk
  3. written warning
  4. lay off/suspend
  5. demotion/transfer
33
Q

To avoid a tribunal if employee not happy with grievance outcome

A

Arbitration - independent arbitrator gives legally binding decision
Mediation - impartial 3rd party facilitates discussion
Conciliation - settle before tribunal

34
Q

3 types of psychological contract

A

coercive - employees feel forced, rewards inadequate
calculative - employee voluntary, in return for rewards
Cooperative - contribute more than expected. achieve company goals

35
Q

Diversity vs equality
who about?
who responsible?
action needed?

A

diversity
- for all employees
- mangers responsible
- no proactive action

Equality
- for disadvantaged groups
- HR responsible
- proactive action needed

36
Q

3 levels of culture

A

artefacts & creations - seen, heard, observed
espoused values - indentified from stories
basic assumptions - deeply embedded beliefs

37
Q

Intrinsic vs extrinsic rewards

A

intrinsic - satisfaction of doing job, interest in job
Extrinsic - pay, working conditions, benefits

38
Q

4 risks/disadvantages of team working

A

Conformity - pressure to agree with wrong decision
Abilene Paradox - outcome no one wanted
Risky shift - more risk decisions made
Group think - minimise conflict, not critical of ideas

39
Q

Tuckman’s model of team development 5 stages

A

Forming - unsure of roles
Storming - challenge authority
Norming - norms for operating established
Performing - operating at full capacity
Adjourning - make changes to avoid losing efficiency

40
Q

5 aspects of successful teams

A
  1. small
  2. limited duration for specific task
  3. voluntary membership
  4. communication informal
  5. action - oriented
41
Q

6 principles of influence

A
  1. reciprocity
  2. commitment
  3. social proof
  4. liking
  5. authority
  6. scarcity
42
Q

4 ways to manage conflict

A

stimulation/orchestration - encourage conflict for new ideas
suppression - use of authority / avoidance
reduction - build on areas of agreement
resolution - eliminate root cause

43
Q

conflict mode instrument (assertiveness vs cooperativeness)

A

not assertive or cooperative = avoiding
assertive but not cooperative = competing
middle of each = compromising
assertive & cooperative = collaborating
cooperative but not assertive = accomodating

44
Q

process of negotiation

A
  1. prepare
  2. open
  3. bargain
  4. close
45
Q

6 focuses of PRINCE2

A
  1. start up proj
  2. initiation
  3. manage stage boundaries
  4. controlling a stage
  5. managing project delivery
  6. project closure
46
Q

Risk management - TARA

A

low impact & low likelihood = accept
low impact & high likelihood = reduce
high impact & low likelihood = transfer
High impact & high likelihood = avoid

47
Q

PERT formula for expected time

A

(optimistic time + (4 x probable time) + pessimistic time)/6

48
Q

When is the matrix structure most useful? (5 points)

A

org consists of series of projs
different start & end dates
complex
expensive
customer facing

49
Q

Project triangle

A

time, cost, quality

50
Q

5 process areas

A
  1. initiating
  2. planning
  3. executing
  4. controlling
  5. closing
51
Q

project initiation doc (PID) includes:

A

purpose statement, scope, deliverables, cost & time estimates, objectives, stakeholders, chain of command

52
Q

to create a digital culture, leaders should focus on 4 factors:

A
  1. communication
  2. continuous change management
  3. journey management
  4. make changes visible
53
Q

Project management body of knowledge (9 focuses)

A
  1. time
  2. integration
  3. HR
  4. scope
  5. cost
  6. communication
  7. risk
  8. procurement
  9. quality

CIMA (9 decks)

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