F1 Flashcards
Mitzberg identified 3 key management roles
Interpersonal
Informational
Decisional
What 3 types of control can be built into IT systems?
Security
Integrity
Contingency
Hint: acronym SIC
What are transaction audits?
To detect fraud snd uses only substantive tests
What are system audits?
They test and evaluate internal controls. Typically these are two types of test, compliance and substantive.
What is an operational audit
Monitors managements performance
What aspects of information must be considered to ensure its quality
Accurate Complete Cost beneficial User targeted Relevant Authoritative Easy to use
Hint: acronym accurate
What is high masculinity culture?
Status is more important than work life balance
What 4 key cultural differences does the Hofstede model consider?
Power distance
Individualism- collectivism
Masculinity - femininity
Uncertainty avoidance
What are Schein’s 3 determinants of culture?
Assumptions or unspoken rules
Values and beliefs
Observable elements
The marketing mix comprises of four P’s which are
Product
Place
Promotion
Price
What is Charles handy’s ‘shamrock’ organisation to encourage flexibility?
Professional core
Self employed specialists
Contingent workforce
Harrison classified organisation culture into what4 types that relate structure to culture?
Power culture- zeus
Role culture- apollo
Task culture- athena
Person culture- dionysus
According to Mintzberg what 5 components can all organisations be analysed into?
Strategic apex Technostructure Operating core Middle line Support staff
What are Porter’s 5 competitive forces?
Substitites Potential entrants Buyer power Supplier power Competition and rivalry
What are the support activities in Porter’s value chain?
Procurement
Technology
Human resource managemnt
Firm infrastructure
What are the primary activities in Porter’s value chain?
Inbound logistics Operations Outbound logistics Marketing and sales Service
Frederick Taylor identified which 4 principles of scientific management?
Development of the true science of work, with written done methods and procedures
Application of scientific techniques to job design
Scientific and development of worker and motivation through financial reward
Co-operation of management and workers
Henri fayol suggested all management revolved around carrying out which 5 functions?
Planning Organising Commanding Coordinating Controlling
What 7 sources of power did french and raven identify?
Legitimate power Coercive power Reward power Referent power Expert power Resource power Negative power
Pestel analysis covers which areas?
Political Economic Social Technology Environmental Legal
Johnson and scholes identified what 3 types of stakeholder?
Internal
Connected
External
Mendlow’s matrix- what relationship should the organisation have with stakeholders in category D
Key players as they have high power and high interest
Mendlows’s matrix- what relationship should the organisation have with stakeholders in category C
Keep satisfied as they have high power and low interest
Mendlow’s matrix- what relationship should organisation have with stakeholders in category B
Keep informed as they have high interest and low power
Mendlow’s matrix- what relationship should the organisation have with stakeholders in category A
Minimal effort as they have low interest and low power
What is Porter’s 5 forces model and what does it do?
It analyses industry attractiveness.
- competition
- buyer pressure
- supplier pressure
- potential entrants
- substitute products
What is the cultural web and who coined the term
Its the way we do things around here coined by charles handy
What is corporate governance
It is how companies are directed and controlled and the separation of ownership and control- stewardship
What are the 5 main principles of corporate governance
1- leadership- board, CEO, chairman, NED 2- effectiveness - time, skills nomination committee 3- accountability- audit committee 4- remuneration- remuneration committee 5 - relations withstakeholders- AGM
What are the 5 fundamental principles of the ACCA code of ethics and conduct?
1 integrity 2 objectivity 3 professional competence 4 confidentiality 5 professional behaviour
What are the 3 main factors to detect and prevent fraud?
1 control systems( internal audit)
2 ethics
3 training
What is SPAMSOAP and what does it stand for?
It is 8 types of control levels 1 S egregation of duties 2 P hysical control 3 A uthorisation and approval 4 M anagement controls 5 S upervisory controls 6 O rganisation as a control 7 A rithmetical and accounting controls 8 P ersonal control
What is management?
Management is getting things done through other people - rosemary stweart
Who are the 4 main contributors to style theories?
Peter drucker
Minzberg
Ashbridge management college
Blake and mouton
According to drucker what are the 3 functions of management
1 managing a business
2 managing managers
3 managing workers and work
According to drucker what are 5 categories of management work
1 setting objectives 2 organising the group 3 motivating and communicating 4 measuring performance 5 developing people
What are the 4 types leadership style according to the ashbridge management college model?
1 tells
2 sells
3 consults
4 joins
Who are the 5 main contributors to contingency theories?
1 adair 2 handy 3 bennis 4 heifetz 5 fiedler
Who coj ed the best fit theory and what is it?
Handy Youcan be either loose or tight on the below 4 variables: 1 leadership- participants / autocratic 2 subordinates- contribute/told 3 task- complex/ routine 4 environment- generous/ short
Will work well it all match
Who coined action- centred leadership and what does it entail?
Adair
It adds a 3rd variable to blake and mouton’s managerial grid by jncluding concern for group as well as tasks and individuals. He says you will concentrate more on one area depending on the situation.
What are the differences between managers and leaders as per bennis?
1 admin/ innovates 2 maintains/ develops 3 focus on systems/ people 4 ST view / LT view 5 keeps control/ inspires trust 6 asks how and when/ what and why 7 eye on bottom line / horizon
WhT is 5 management roles?
Planning Organising Commanding Controlling Coordinating
Fayol 14 rules of managerial conduct
Division of work Authority Discipline Unity of command Unity of direction Subordinationof general interests Etc
Porters value chain - primary activities..
Inbound logistics Operations Outboundogistics Marketing and sales Service
Porters chain- support activities
Technology- innovation
Hrm - human resources
Procurement - sourcing raw material
Infrastructure- finance, gen management
Monopoly..
One producer supplies the entire market
Oligipoly…
Few large firms dominate market
Results in uncertainty
Duopoly..
Two usually large firms dominate
Inflation..
Increase in price of goods and services
Causes of your inflation…
Demand pull
Cost push
Monetary
Import cost push
Advantages of decentralisation..
Faster decision
Expert decision
Motivation
Development
Frees up strategic apex
Disadvantages of decentralisation..
Duplication Comparison Training Inconsistency Dysfunctional decisions
Levels of planning
Strategic
Tactical
Operational/ functional
Whats corporate governance?
Systems by which organisations are directed and controlled
Approaches to ethics
Egoism
Utilitarianism
Pluralist
