past paper Flashcards
analyse
investigate, enquire, consider
evaluate
assess, estimate, appraise
scepticism
Q, challenge, probe
commercial accumen
awareness, judgement, insight
communicate
inform, persuade, clarify
analysis of industry and market
5 forces
buyer, supplier, new entrants, substitutes, existing competition
Integrated reporting
6 capitals:
financial capital, manufacturing capital, social & relationship capital, natural capital
benefits of Big data
predictive data
tracking
opportunities of Big data
more precise data
RISKS = HEAT MAP
strategic, business, financial, environmental
High impact V High probability
stakeholder analysis
mendolow matrix
HI, HP inform, satisfy, ignore, close
agency role
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NED role
contribute to strategic plan, scrutinise ED, external perspective, resolve conflicts, deal with personal issues
actual V relative performance
work out percentage change and see if achieved goal - make a column yes/no
effectiveness of internal controls
anything controlling risk in an organisation
e.g. staff, integrity, values, control environment
talent management
retention of employees who can make a difference to the organisation and add value
necessary change management
to bring about change its important to employ people with different expertise
safeguards to reduce fraud
look at preventable fraud VS unpreventable
NED add value
implementing new ideas, deciding on remuneration, outsiders expertise
report layout
TO, FROM, DATE
TITLE
strategy
= SFA
