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Organisation X is 6 months into an overhaul in its supply chain management and production process.
The organisation aims to prevent errors before they occur, demands participation by all, including customers and suppliers, and the structure is driven by the entire Board of Directors. Which method of management has Organisation X adopted?
One of the key corporate governance factors within an organisation is that of responsible planning and management of resources. This is often referred to as stewardship. Whilst this is the responsibility of all directors, financial resources are overseen by the financial director. The finance department, under the direction of the financial director, issues weekly staff performance reports to line managers and department heads, annual statistical information to local government departments and quarterly high level results statements to shareholders. Why is stewardship such an important responsibility of company directors and the finance function?
An entity has several subsidiaries including F, which has an urgent staffing issue. The Financial Controller of F is due to start her maternity leave in 3 weeks time and there is currently a recruitment freeze in place to curtail employment costs. Human Resources needs to resolve the issue of covering the Financial Controller's position on a temporary basis. Which TWO of the options below will be suitable in these circumstances?
Stephanie has just secured a job as a management accountant for a well-known banking firm. She needs to understand the organisation's financial position.
What should she do first in order to gain this understanding?
Which of the following scenarios is an example of independence within the role of the finance function?
DnD1_0151-R2-D: Match each of the ethical principles with the correct brief scenario.
A facilities management company sells to local councils.
Which THREE of the following are appropriate methods of marketing?
Company E is renewing the IS within the organisation. This new system will enable all employees to access customer information, orders and credit control status to overcome the lack of integration between departments suffered with the previous system. Managers envisage some resistance to the change and want to try to make the transition as smooth as possible. To achieve this, all employees have been invited to share their ideas of what features the new system should include and how they would like the final interface to work. Which of Kotter, Schlesinger and Sache's methods of dealing with resistance is described above?
There are several inter-related activities thought critical in implementing internal marketing. Which THREE are valid?
Level one of the contemporary shape of the finance function involves strategic leadership of the finance team. The head of the finance function is.
Which of the following is associated with the control activity of the finance function?
The growth and success of virtual teams have been a result of which THREE developments becoming available to organisations?
JNN Company, an engineering business, is seeking a bank loan to invest in the product expansion of a new device which dramatically reduces pollution from road vehicles.
Sales have seen a rapid increase and other organisations have also developed similar products.
In order to successfully obtain the loan, the bank requires a report of quantitative information regarding the new device
Which of the following is most likely to satisfy the bank's requirements to supply the required loan?
Capturing and utilising big data is now a key element of many organisations' value adding process. Which of the following best describes the attribute of big data velocity*?
K manages the finance function of a cable manufacturing business In order to cope with an increasingly diverse workload K needs human resources to recruit someone with a digital mindset
Which THREE of the following individual charactenstics should K emphasise to human resources as important in finding the right candidate?
The finance function of an organisation supports the organisation's strategies and operations.
Which THREE of the following activities are fundamental to the role of the finance function?
Which of the following effects on tax is a benefit of the implementation of Corporate Social Responsibility (CSR) strategies?
Which of the following are associated with the mission of an organisation?
Select ALL that apply.
In a manufacturing company, it is important to maintain the correct levels of inventory, with particular attention to holding and ordering costs. For each of the types of costs listed below, identify whether these are holding costs or ordering costs:
Which of the following are advantages of outsourcing finance? Select ALL that apply.
There are four approaches to system changeover, each of which varies in terms of risk, cost and time. When there is a need to minimise costs and time the most suitable approach would be:
XY Company is a manufacturing company making a variety of products for sale in different markets. Which of the following is the most likely organisational structure that such a company will adopt?
Company O has appointed a new CEO who is well known in the industry for making radical changes within the companies that she works for. After her first 9 months in the role, she announced some changes that she wanted to make, starting with the Finance Department. She stressed an intention to focus inwards on improvements to efficiencies and that she was not afraid to make fundamental changes if this is what is required to achieve those improvements. Which of the following is described above?
Which of the following statements regarding Just-In-Time (JIT) are true?
1:The main aim of JIT it to ensure a business has a sufficient amount of leftover stock, just in case it's needed further down the line.
2:Although the benefits of JIT are many, its use can end up harming supplier relations.
3:JIT generally results in lower costs for the business using it.
A cut-flower production business has peaks of demand around special days in the year that celebrate religious festivals. Which of the Four Vs of operations is being described in the above scenario?
Finance business partners are seen as leaders that can influence the decisions that businesses make. Which of the following best describes their role in this process?
Which of the following are types of connected stakeholders? Select ALL that apply.
General Data Protection Regulation (GDPR) was introduced throughout the EU in 2018. The legislation details several principles about data and the requirement for data controllers.
Which of the following best describes the role of data controllers?
AB Company has recently produced a very successful brand of washing powder which has achieved high market growth and a high market share. According to the Boston Consulting Group (BCG) matrix what is the product's next stage of development?
Barry has heard that the government is planning to tighten environmental regulations. He doesn't like the sound of this, as even though some businesses won't be affected that much, he will have to end up paying a lot
more to run his business.
Which of the following options would be most effective in preventing the government from imposing such regulation?
Select ALL that apply.
TTT plc has recently been responsible for a major environmental accident. As a result the management of the company wishes to set up a large fund to compensate stakeholders affected. The company has a significant number of institutional shareholders which own a large share of the company, as well as many individual investors.
The management is considering Mendelow's Matrix to determine the likely movement of the institutional shareholders during the change in strategy. What is the institutional shareholders' likely movement according to Mendelow?
E's manager is concerned about bullying in the organisation and has asked E to report on the situation.
As a result, E has carried out the following work;
• Collected data of the numbers of complaints made
• Produced a bar chart based on incidences in different departments
• Interviewed a sample of employees
• Calculated the cost of employees being away from work sick due to bullying
Which of the pieces of work that E has carried out is qualitative analysis?
L and M are setting up a business offering guided hiking holidays in national parks throughout the world. The price of the holidays will include airfares and accommodation; their initial research shows that there will be a huge variability in the cost of both.
What type of pricing will be appropriate for their holidays?
RT Company produces sub components for the vehicle industry Worldwide changes in government regulation and social attitudes mean that there is an increasing pace of demand for hybrid and electric vehicles
B is the long serving finance manager of RT Company. Using various data and information provided by the finance function staff, and experience built up over many years. B is considering how new challenges might be overcome and how opportunities might be maximised by the company
In the context of the information to impact framework, which of the following best describes B's overall contribution to the anticipated changes'?
Data warehousing is an essential element of the extraction transformation and loading process.
Which of the following best describes data warehousing?
Company M has been dealing with Supplier Q for many years. The Procurement Department has a very professional relationship with the supplier and it has recently started using electronic data interchange to place orders directly and on a much more frequent basis to assist production. A large part of the interaction with the supplier is now around price negotiation. According to Reck and Long's strategic positioning tool, which stage is Company M at with Supplier Q?
Which THREE of the following describe the role process maps can play in an organisation?
Which one of the following structures primarily suits a nationwide business with three product lines; for example, soup, condiments and baby food?
Which type of organisation is owned by its customers, strictly speaking is a not-for-profit organisation and is in the private sector?
When implementing a new IT system and according to the theory of Kotter, Schlesinger and Sache, which of the following is a benefit of using participation as a way of overcoming resistance to change?
In preparation for GD Company's annual people resourcing meeting, PR is creating the HR Plan for the Finance Directorate. He is currently collecting information for the second stage of the plan i.e. Internal Analysis. Which THREE of the following will PR need information about for this stage?
Information systems outsourcing involves purchasing the services required to perform business functions from outside the organisation.
Which of the following is an advantage to the organisation of outsourcing activities?
Human Resource Management (HRM) and Personnel are different.
Which of the following is NOT a characteristic of Human Resource Management (HRM)?
Which of the following is a feature associated with personnel management rather than the more modern concept of human resource management?
A financial training company is reviewing its current HR policy in relation to the ongoing training required by all professionally qualified employees. Part of this process will also help to identify individuals suitable for promotion in the near future.
Which element of the HR cycle is described above?
M is employed by an organisation that operates a chain of high street coffee shops. She has made a decision to purchase a failing cake shop in order to take it over and expand the presence of the organisation in the local area. According to Mintzberg, which part of the organisation does M belong to?
P is employed by an organisation which pays well for work done to a high standard. P is fortunate in that he really enjoys his work, takes great pride in the presentation of his deliverables and always seeks ways to improve his approach and output. Which reward classification is described above?
AB Company is considering a recruitment campaign to provide extra senior marketing staff for a new product launch. AB produces specialist industrial cleaning products and has a well developed marketing function. Which of the following will be an effective alternative to a recruitment campaign?
An effective induction programme will typically focus on which THREE of the following?
An employee feels forced to resign due to their employer allowing them to be bullied. Which type of dismissal is this an example of?
Which of the following can facilitate innovation within an organisation?
Select ALL that apply.
More and more organisations are developing their supply chain networks by building closer links with suppliers. Which THREE of the following are considered to be features of this trend?
Corporate social responsibility (CSR) encompasses four different dimensions.
Match each of the descriptions below with the correct CSR dimension.
Company T operates a highly automated manufacturing system. It is computer controlled to promote efficiency and effectiveness and is capable of producing a large number of parts in a flexible manner.
The main advantage this brings to Company T is that dedicated output can be produced quickly in response to customer orders so that the organisation can give very high levels of customer service.
Which system of operational capacity is Company T using?
Shortly after starting his new role within R, Q begins to suspect that the training opportunities he was offered at interview are unlikely to materialise. Upon discussing his concerns with his manager, Q is made to feel as though his expectations regarding training opportunities were unrealistic as everything included within his employment contract had been honoured. Which of the following applies to the above situation?
Which of the following would work as Support Staff in Mintzberg's organisational structure?
Company T has eight main products that it markets and sells. One particular product requires a low amount of ongoing investment, has low growth prospects but currently maintains a high market share.
According to the Boston Consulting Group Matrix, which category is this product in?
L is employed within a startup organisation that has limited funds. The organisation is a firm of lawyers specialising in all legal fields, such as family law, property law, commercial law and litigation. Due to the relative infancy of the organisation, and restrictions on funds, they have to be prudent with their choice of information systems. They have all the IT they need for staff but the agreed best way to build the business has been to focus on building their client and prospective client base. Which of the following should the organisation invest in to help achieve this aim?
Which THREE operations management issues are associated with the primary activity of inbound logistics?
A company is expanding its baby clothing product range to include all items for infants, for example feeding and bathing equipment. As this is a new venture for the company, the Board of Directors has agreed that market research is a necessary exercise, but it is undecided as to which is the most efficient and effective method. Which of the following methods of research would be most appropriate?
Which of the following is a disadvantage of using the internet, (E-marketing), to sell products?
DTR is a publishing company specialising in the production of technical journals and product specifications
Because of the volumes of information required to run the business effectively, the finance function of the company is considering migrating to cloud based technologies.
Which of the following is most likely to be a benefit of such a move for the company?
A new manufacturing firm has been growing very rapidly. Both its output and hired staff have increased dramatically, and it's looking like the business will have to physically expand sometime in the near future.
The company's managing director decides to outsource the payroll of the business to an external provider.
What are his likely reasons for making this decision?
An internal audit department is set up to help prevent fraud. Which of the following are possible implications if fraud is allowed to take place?
Select ALL that apply.
A decision has been made to close down a branch of a restaurant.
Which of the following is quantitative information produced by the finance function that will have supported this decision being made?
Velocity is one of the defining characteristics of Big Data. Which of the following most accurately defines what this means?
Which of the following gives the correct combination of valid stages in the HR cycle?
MN College (limited by guarantee) aims to ensure that each student achieves their qualification and gains employment. Which THREE of the following are suitable measures of performance for MN College?
T Company has recently appointed J as Chief Data Officer
One of the responsibilities of the appointment is to ensure compliance with the General Data Protection Regulations (GDPR) in force in the jurisdiction
J's first action was to carry out an internal audit of GDPR compliance
Which THREE of the following audit findings are indicators that T Company is compliant with GDPR''
Information relating to production, accounting records and payroll are most likely to be used by which of the following stakeholders?
A high volume operation is likely to be characterised by which of the following?
An individual works for Organisation A. They are responsible for collating financial information from all the local County primary schools in order to report budgetary requirements for the next financial year.
An individual works for Organisation B. They are responsible for collating financial information from all the local charity shops in order to report donation items and items sold.
An individual works for Organisation C. They are responsible for counting and recording raw materials stock, work in progress and finished goods stock on a monthly basis for the managers to report on rates of stock wastage and pilferage at the monthly board meeting.
For each of the organisations above, match them with the relevant sector below.
An effective Corporate Social Responsibility (CSR) strategy can offer which of the following benefits to an organisation.
Select ALL that apply.
XY is a small software development company. Which of the following are most likely to assist the organisation in facilitating innovation?
Select ALL that apply.
Which of the following is NOT an advantage of remote working for an organisation?
Appraisal systems involve the collection of feedback on an individual's performance from a range of sources. Which of the following sources apply to 180-degree appraisal?
Select THREE sources that apply.
JKL is an online marketing agency and is currently developing its systems to improve efficiency in storing and retrieving data
P works in the finance function and is currently assisting the development of a technical map of rules and data structures to enable the data to be stored effectively in JKL's new databases.
At what level of the data modelling process is P working on?
Dismissal is a drastic form of disciplinary action. Which THREE of the following examples would constitute fair dismissal?
A company offers life coaching and self-improvement training. As part of its promotion strategy, the company sends out free, heavily branded, daily motivational emails to all of its subscribers. It actively encourages its subscribers to forward its emails on to other contacts, provided the emails are not changed in any way. Which of the following marketing strategies is described above?
Which THREE of the following suggest an integrative approach to organisational purchasing according to Reck and Long?
Which of the following is a reason why businesses need to prepare statutory reports?
XY Company operates a flexible manufacturing system, manufacturing a single standard product. What is the disadvantage of this system if the organisation expands its product range?
Which of the following is the term used to describe the degree to which a task in an organisation is divided into a number of separate activities?
Which of the following does NOT help to bring about operational improvement in the manufacturing process of an organisation?
Which of the following statements regarding shamrock organisations are true?
1:Shamrock organisations typically comprise four discrete components.
2:The core group of executives are often supported by external contractors and part-time staff.
3:One of the main characteristics of a shamrock organisation is its flexibility.
Company XYZ has just launched an innovative technology device, designed to appeal to those consumers who want to be seen with the latest products. Which of the following pricing strategies would be most suitable at the time of the product's launch?
Mita has set up a number of food shops and spends a lot of her time finding suitable staff Her key strength is going to farmers' wholesale markets and selecting her suppliers She also carries out all the accounting functions and maintains the shops by acting as her own caretaker, carrying out repairs and maintenance at the weekends
Which aspect of the work would Mita be LEAST LIKELY to outsource?
AB Company is currently the sole supplier of raw material to XY Company and has recently increased its prices. This has been highlighted by a raw material price variance in the management reports of XY Company, and in order to correct this the Finance Director has recommended that an alternative cheaper supplier be found as soon as possible. The Purchasing Department has indicated that only AB is able to supply all of the company's requirements and has been doing so reliably to a high quality on a just-in-time (JIT) basis for many years. Finding an alternative will involve purchasing from several unknown suppliers. Which of the following are possible consequences of this decision?
Select ALL that apply.
TESTED 05 May 2024
