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BST > General > Flashcards

General Flashcards

1
Q

How to evaluate business proposals

A

suitability
acceptability
feasibility

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2
Q

What is suitability concerned with

A

SWOT of industry and does it fit

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3
Q

what is acceptability concerned with

A

would key stakeholders approve

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4
Q

Ansoff matrix elements

A

Market penetration
market development
product development
diversification

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5
Q

Underlying principles of good governance

A

accountability,
transparency
integrity
focus on sustainable success on LT

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6
Q

Five main sections of CG code

A

Leadership
Effectiveness
Accountability
Remuneration
Relations with SH

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7
Q

What should NED do

A

independent POV
scrutinise performance
satisfy on integrity of fin info
be responsible for determining appropriate levels of remuneration for exec director

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8
Q

Gemini
4 Rs

A

Reframe
restructure
revitalise
renew

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9
Q

Gemini
Reframe

A

create will and desire to change

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10
Q

Geminin
Restructure

A

redesign structure and culture to facilitate new approach

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11
Q

Gemini
Revitalise

A

Create new culture

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12
Q

Gemini
REnew

A

Ensure that the change is supported on an ongoing basis

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13
Q

Types of change

A

Coercive and adaptive

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14
Q

Issues with adaptive change

A

Can be too slow

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15
Q

What is coercive change

A

forced - without participation

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16
Q

HR strategy

A

succession planning

staff retention

skillset required

background of staff

getting the best from employee (innovation)

technology

knowledge management system

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17
Q

R&D strategy

A

Culture that promotes and rewards creativity and inventiveness

management style and structure for innovation - praise new ideas

make sue of common info resources available

use multiple sources

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18
Q

Cyber security risks

A

human threat

denial of service

virus

deliberate sabotage

accidents

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19
Q

Cyber security consider also

A

business continuity planning

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20
Q

IT risk ways of combating

A

Personnel security

physical and enviornemtnal security

system access control

system development and maintenance

business continuity plan

21
Q

What is a BCP concerned with

A

crisis management and disaster recovery

22
Q

BCP - required for staff

A

need to be aware of importance

training should be given

BCP should be tested regularly

23
Q

What factors should be considered by a BCP

A

Resotring data and other it systems

securing interim premises

secure interim management and staff

management of the PR issue

24
Q

BCP Methods of recovery

A

Carry out activities manually

move staff to another location

agree to use someone else’s premises

arrange to use IT service and accommodation provided by speciality third party

25
Q

Supply sourcing strategies

A

Single

Multiple

Delegated

26
Q

Best purchasing mix of

A

Quantity

Quality

Price

Deliivery

27
Q

Single Supplier description

A

Buyer chooses one source of supply

28
Q

Advantages of single supply option

A

Stronger relationship

Superior quality

Better communication

EoScale

Facilitates confidentiality

Possible source of competitive strategy

29
Q

Issues with single supplier

A

Vulnerable to disruption in supply

Supplier power may increase if no alternative

Supplier vulnerable to shifts in order level

30
Q

Multiple supplier strategy description

A

Buyer chooses several sources of supply

31
Q

Multiple supplier strategy advantage

A

Access to wide range of knowledge and expertise

competition among suppliers may drive price down

Supply failure by one cause minimal disruption

32
Q

Multiple supplier Disadvantages

A

Not easy to develop effective quality assurance

suppliers may display less commitment

Neglect economies of scale

33
Q

Delegated supplier explained

A

supplier given responsibility for delivery of complete sub assembly

34
Q

Delegated supplier advantages

A

Utilisation of specialist external expertise

frees up internal staff for other tasks

purchasing entity may negotiate economies of scale

35
Q

Delegated supplier disadvantage

A

First tier supplier powerful

Competitors may utilise same external, unlikely to be competitive advantage

36
Q

The HR plan - elements

A

recruitment plan

training plan

redevelopment plan

productivity plan

redundancy plan

retention plan

37
Q

Operations what are the 4V’s

A

Volume

Variety

Variation in demand

Visibility

38
Q

Operations strategy - six items to incorporate

A

capability required

range and location of operations

investment in tech

strategic buyer-supplier relationships

new products/services

structure of operations

39
Q

Capacity Planning - four types of plans

A

level capacity plan

chase demand plan

demand management planning

mixed plans

40
Q

What is a level capacity plan

A

plan to maintain activity at constant level over planning period

41
Q

What is a chase demand capacity plan

A

match capacity as closely as possible to forecast fluctuation in demand

42
Q

What is demand management planning

A

reduce peak demand by switching it to off peak periods e.g. off peak prices

43
Q

What are mixed plans (capacity planning)

A

Mixture of level, chase demand, and demand management

44
Q

Three key elements of JIT

A

eliminate waste

Involvement of all staff

Continuous improvement

45
Q

What are quality related costs

A

prevention cost

appraisal cost

internal failure cost

external failure cost

46
Q

Main elements of TQM

A

Internal customers and suppliers

SLA

Quality culture in firm

Empowerment

47
Q

What is TQM quality cost model based on view that

A

prevention cost and appraisal cost are subject to management influence/control

extra effort on prevention reduce internal failure and external failure costs

48
Q
A

BST (10 decks)

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