Overall Flashcards
What is included in Enables?
Planning
Forecasting
Resource Allocation
What is included in Shapes?
Performance
Management
Control
What is included in Narrates?
Financial Reporting
What are some things that was included in 2018 corporate governance code?
Emphasises importance of good relationships between shareholders and stakeholders
Nomination committee responsible for effective succession planning
Gender balance of management and their reports should be reported
Clear reporting on remuneration and how it helps organisation to acheive strategy and long term success
What is Qualitive data?
Not numerical
What is quantative data?
Numerical
What is outsorcing?
Contracting work out
What is a shared service centre?
Established for particular activity
What is transaction costs?
Indirect costs incurred in performing an activity
What is project management?
Integration of aspects of a project ensuring knowledge and resources available
What is project appraisal and the methods?
Assessment and evaluation of project.
Paybacks, NPV and Internal rate of return
What does McKinsley suggest could be automated?
Data Collection
Data Processing
Applying Expertise
Stakeholder Interactions
Managing Others
What is RPA?
Robotic Process Automation
What happened in 1st revolution?
Growth in steam power and advancement in machines
What happened in 2nd revolution?
Electricity, petroleum and steel
What happened in 3rd revolution?
Digital Tech
What is cloud computing?
Delivery of on-demand computing resources
What is big data?
Data that is large and varied. Beyond capability of data processing.
What is data analytics?
Collecting, organising and analysing big data
What is process automation?
Automation of complex business processes
What is AI?
Creation of intelligent machines. Systems ability to correctly interpret external data to acheive goals.
What is data visualisation?
Allows data to be visually appealing
What is blockchain?
Decentralised, distributed and public ledger to record transactions
What is internet of things?
Network of smart devices, monitor and exchange data. e.g. smart meters, appliances, doorbells and cars
What is CDMA?
Tech that underpins mobile tech
What are some skills required by finance in the future?
Analytical skills
Judgement
Business Acumen
People skills
Leadership
What is the order of data strategy?
- Identify
- Store
- Provision
- Process
- Govern
What is extraction?
Harvesting data. Data profiling
What is transformation?
Transformed into format
What is loading?
newly cleaned data uploaded to database
What is data profiling?
data analysed to understand content, format and structure
What is data warehouse?
store for data
What is business intelligence?
Process of analysing business data
What are the three things of data modelling?
Conceptual: considers data and reliance
Logical: Develop map of rules and data structures
Physical: How defined system will be implemented
What is DBMS?
Database management system
What is porters value chain?
Based around activities rather than individual department
Considers activities that create value and drive costs
What are some primary activities of porters chain?
Operations
Sales
After Sales
What are some secondary activities of porters chain?
Tech
Procurement
Infrastructure
What is cousins?
Importance of viewing supply as central
What is MRP?
Material requirement planning
What is SPC?
Statistical process control
Measure quality and controls quality
What is TQM?
Total Quality Management
Continuous improvement in quality
What is Kaizen?
Continuous improvement in performance
What is six sigma?
Quality management programme reduction in faults
What is lean thinking?
Systematically eliminate waste
What is Just in time?
Produce items when required
What does SWOT stand for?
Strengths
Weaknesses
Opportunities
Threats
What does PESTEL stand for?
Political
Economic
Social
Technological
Ecological/Environment
Legal
What are the 7P’s?
Price
Promotion
Place
Product
Services:
People
Processes
Physical Evidence
What does AIDA stand for with promotion?
Awareness
Desire
Interest
Action
What is Guerrilla Marketing?
Attacks on key targets
What is digital marketing?
emails, social media
What is postmodern marketing?
Experience customised to customer
What does BADPIGS stand for?
Background
Attainments
Disposition
Physical Make up
Interests
General Intelligence
Special Attributes
What is information systems?
Information to support running of organisation
What is Information Technology?
Supporting equipment to run systems
What is MIS?
Management Information System
Converts data into useful information
What is Executive information system?
Senior management access internal and external information
What is decision support system?
Aids management in decisions
What is transaction processing system?
Used by operations managers to make decisions
What is expert system?
Holds specialist knowledge
What is groupware?
Helps people collaborate
What is a virtual team?
Group of people guided by common task
What is the initial costs of new information systems?
Purchase of software
Training Costs
What are the running costs on new information systems?
Labour time
Material
Support systems
What is a centralised system in terms of IT?
Based out of one location
What is system architecture?
Way system is organised to support organisations functions
What are the 4V’s of operations?
Volume
Variety
Variation
Visibility
What is structured and unstructured data?
Structured data is often numerical data whereas unstructured data may be in the format of email or video
Technologies which deliver new capabilities are referred to as what?
Exponentials
Technologies anticipated to update existing system to improve capabilities are often referred to as what?
Core Modernisation tools
What is a digital mindset?
Concept of seeing beyond the individual elements of digital change, to understand the deeper ways in which tech will ultimately transform society and impact an organisation
