Exam question 3

Question 1

What is a…

1. interpersonal role
2. informational / dissemination role

Answer 1

1. Matters such as listening to or giving employees feedback / rep reacting a team of employees
2. invloves distributing information to staff either as fact or interpretation.

Question 2

Compare The 4 V’s of operations management and big data

Answer 2

Big data and operations management

• Volume
• Variety

Just big data

• Velocity

Just operational management

• Visibility

Question 3

Stewardship of the organisations financial resources is part of which of its financial functions tasks?

Answer 3

The recording of financial transactions

Question 4

Management accounting is not driven by rules or standards, what is it driven by?

Answer 4

The need to meet the information requirements managers, they will use the information to plan, control, make decisions and one of the performance

Question 5

What is corporate responsibility?

Answer 5

How far an organisation goes to protect the interest of those it has a non-contractual relationship with (public & stakeholders)

Question 6

What is a government producer?

Answer 6

Someone responsible for public services

Question 7

Under the UK corporate governance code how often does the board need to review effectiveness of risk management and internal control?

Answer 7

At least annually

Question 8

What is the minimum investment required for members of public to invest in the Treasury bill?

Answer 8

£500,000

Question 9

Compare

• Antimonopoly legislation
• Market regulation

Answer 9

• Antimonopoly legislation → promotes competition
• Market regulation → compensate for the lack of competition, when competition is not possible