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A simple calculation | based on readily available information.
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Two-tier boards components: 2 inizia ad imparare
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Supervisory board. | Management board.
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Supervisory board characteristics: 3 inizia ad imparare
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Elected by the shareholders. | The supervisory board is led by a chairman and it supervises and advises the management board. | The Supervisory board is particularly involved in the long-term decision making and strategic planning of the business.
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Management board characteristics: 3 inizia ad imparare
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Tactical day-to-day management of the business. | It is led by a CEO. | Members are hired and dismissed by a Supervisory board.
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Advantages of two-tier boards: 3 inizia ad imparare
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Clear separation of roles. | The supervisory board can include a wide range of stakeholders like workers’ representatives. | Greater independence of discussion.
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Disadvantages of two-tier boards: 3 inizia ad imparare
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Poor information flow. | Confusion over power and roles. | Slower decisions and potential stalemates.
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Unitary board characteristic: 3 inizia ad imparare
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The executive directors look after the day-to-day management of the company (like the management board in the two-tier system). | the NEDs warn and advise (like the supervisory board in the two-tier system). | However, all directors have right to vote. a mix of executive and non-executive directors.
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How many NEDs should be in small companies? inizia ad imparare
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In large companies NEDS should be at least 50% of the board.
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The make-up of Nomination Committee or Remuneration committee... inizia ad imparare
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Integrated reports gain credibility if they are...? inizia ad imparare
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Many elements of integrated reporting have no s...? inizia ad imparare
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like conventional financial statements.
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Star products. We will be the target for competitors which also...? inizia ad imparare
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_also wanting to gain a high market share.
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There are considerable flaws in the BCG analysis. For example: 3 inizia ad imparare
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Room for relatively small specialist suppliers. | If market growth rate goes from 10.1 to 9.9. | There’s much more to competitive strength than just our market share (like a brand name).
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A well-balanced portfolio has some... inizia ad imparare
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_some cash cows and some question marks. The cash generated from the cash cows can be used to invest in the question marks, so securing the long-term future of the company.
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4 inizia ad imparare
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joint ventures, | licensing, | franchises, | strategic alliances. Such alliances are allowed in airlines where the takeover of one airline by another is often resisted on monopolistic or nationalistic grounds.
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this is where there can be both good and bad outcomes. It might occasionally be called ‘two-way risk’. Examples include developing a new product, entering a new market, buying a more advanced machine and developing a new web-site. Each of these good go well or badly.
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Risk appetite is determined by two factors: 2 inizia ad imparare
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Stakeholder’s attitude to risk. | Risk capacity, which is the amount of risk that the organisation can bear.
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the risk before any mitigation (reduction) procedures. Gross risk is sometimes referred to as inherent risk.
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the residual risk after reduction and mitigation.
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The gross risk is initially depend on: 3 inizia ad imparare
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The asset. | The threat. | The vulnerability. What you are trying to protect. E.g. property, people, reputation. | What you are trying to protect against. E.g., destruction of property, theft, damage to reputation. | Weaknesses that can be exploited. E.g., no fire alarms, cash not banked, poor PR.
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Typical contents of a risk register are: inizia ad imparare
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Description of the risk. | Date identified. | Estimated likelihood of occurrence before mitigation. | The risk owner. | likely impact before mitigation. | Pre-mitigation rating. | Detailed response strategy (TARA). Its estimated likelihood of occurrence after mitigation. | Likely impact before mitigation after mitigation. | Post mitigation rating. | Date response implemented. | Signed off by risk owner.
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who is responsible for dealing with the risk
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From COSO ERM inizia ad imparare
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This can be regarded as the outlook and culture of the organisation, including its enthusiasm for risk management and its risk appetite. For example, some organisations are a bit happy-go-lucky when it comes to risk management whereas others are extremely strict and want things to be done by the book.
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From COSO ERM inizia ad imparare
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The aim is to align risks with the entity’s risk tolerance and risk appetite. Risk tolerance is the acceptable variation in outcome compared to an original objective.
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UK quoted companies are now required to include Risk Reports as...? inizia ad imparare
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_as part of their annual reports.
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Knowledge can be defined as...? inizia ad imparare
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information in someone’s mind.
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Explicit knowledge. | Tacit knowledge. Explicit knowledge. Generally that’s the knowledge which is written down. We know where to find it, we know what it is. It has been captured.
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Sales representative is likely to know who the important customers are and roughly what their turnover. He may know what that person has been planning. The salesman may know how to get on with a particular buyer in another business.
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Here the network extends over only a relatively small area, such as an office, a university campus or a hospital.
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Wide area networks (WAN): inizia ad imparare
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Here the network can extend between several cities and countries. Each office would have its LAN, but that connects to LANs in other offices and countries using commercial, public communications systems.
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Virtual private network (VPN) inizia ad imparare
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VPN’s allow data to be transmitted securely over the internet between any two locations.
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your network can link to another organisation’s network for example, a supplier’s network to trigger deliveries.
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this ensures that the data has not been altered or distorted whilst in transit.
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General IT controls commonly include over: 3 inizia ad imparare
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Data centre. | System software acquisition, change and maintenance. | Access security.
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Application controls are...? inizia ad imparare
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Manual or automated procedures, such as the processing of sales orders, wages and payments to suppliers.
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Application controls examples: 3 inizia ad imparare
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Range tests. | Dependency checks. | Digits checks. Can be applied to reject data outside an allowed range; format of number checks. | Where one piece of data implies something about another (like outward date). | Number, is specially constructed to comply with mathematical rules (like bank account no.).
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The recovery plan should cover: 3 inizia ad imparare
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Contingency planning. | Define responsibilities. | Prioritisation of the processing. There could well be a state of panic just after the disaster.
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2 | The 6Is of e-business inizia ad imparare
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Production is started on the items you have ordered. | room is reserved for you.
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E-business patterns inizia ad imparare
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Putting back a middleman. for example the site Expedia allows you to compare different flights from different airlines. It’s a new form of intermediary.
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E-business patterns inizia ad imparare
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Where the providers themselves set up an intermediary. An example is Opodo which is run by several of the large airlines. When you go to that site, the site shows only flights provided by the owners of the site.
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E-business patterns examples. e-S | e-A | e-P | D | R | C | CRM | EGC | TA inizia ad imparare
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E-shopping. | E-auctions. | | E-procurement. | Disintermediation. | Reintermediation. | Countermediation. | Customer relationship management. | Electronic goods catalogues. | Targeted advetising.
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Difference between Transaction marketing and Relationship marketing. 2 | 1 inizia ad imparare
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Transaction marketing focuses on the product. However, this approach looks at one transaction at a time. | Relationship marketing wants ongoing close relationship with the customer.
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Relationship marketing aimed at: acquiring customers, retaining customers and...? inizia ad imparare
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.e. sell more, sell related products or sell more expensive products (upselling).
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Brands owners often work hard to associate a particular image with their brands, for example, up-market or...? inizia ad imparare
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This might happen if a company had a major problem or scandal associated with a brand. Think of Volkswagen in 2015 with the diesel emission scandal.
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2 | Big data characteristics. inizia ad imparare
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Data arrives continually | and often has to be processed very quickly to yield useful results
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Pre-defined data model is a quality of...? inizia ad imparare
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Unstructured data refers to information that does not have a...? inizia ad imparare
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a pre-defined data-model.
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The processing of big data is generally known as big data analytics and includes: 3 inizia ad imparare
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Data mining. | Predictive analytics. | Text analytics. Predictive analytics: a type of data mining which aims to predict future events. E. g, the chance of someone being persuaded to upgrade a flight. | Text analytics: scanning text such as emails and word processing documents to extract useful information.
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The features of the product: BPQD inizia ad imparare
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Brand. | Packaging. | Quality. | Design.
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four main types of promotion A | SP | PS | PR inizia ad imparare
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Advertising. | Sales promotion. | Personal selling. | Public relations.
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Difference between Pull promotion and Push promotion. From 6Ps inizia ad imparare
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Push promotion is concerned with getting the product into the shops and would use, for example, personal selling. | Pull promotion is getting the public to demand that product, to go into shops and ask to buy it.
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From 6Ps inizia ad imparare
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Four main types of market: 4 inizia ad imparare
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Perfect competition. | Oligopoly. | Monopoly. | Monopolistic competition. This means that there are a number of suppliers of similar but not identical goods.
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Related product pricing + example. inizia ad imparare
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Low initial price, then follow up prices are high Typically a new inkjet printer might cost around $100, but then to renew the ink cartridges might be costing about $70.
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Market-orientated pricing: inizia ad imparare
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Higher prices are sought and are justified by products better matching a market segment’s needs.
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Typically a venture capitalist will invest up to ...% of equity and will have a...? 2 inizia ad imparare
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up to 49% of the equity and will have a seat on the board so as to keep an eye on their investment.
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A venture capitalist’s involvement with a company is likely to be for around ... years. inizia ad imparare
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around 5 years after which they look for an exit that will provide their return.
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To compensate for the high risk, venture capitalists typically look for an annual return of ...%? inizia ad imparare
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the process of raising small amounts of capital from many people.
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Crowdfunding. In exchange for providing capital, investors expect something in return and this is commonly:? 3 inizia ad imparare
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Shares. | Rewards (e.g. discounted products). | Software value tokens (an initial coin offering, or ICO). All forms of crowd-funding can suffer from poor regulation and poor investor protection compared to more conventional equity and loan finance.
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Blockchain technology allows data to be added to ......., but once added it ... be changed without detection. 2 inizia ad imparare
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a set of records | cannot
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Blockchain technology is to make use of...? inizia ad imparare
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This is a mathematical process that can take any piece of data, no matter of what size and produce from that data a unique (or almost) series of numbers and letters: the hash. However, it is virtually impossible to go back from the hash to the data.
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Each Blockchain contains the link to the next one and so a chain is set up. For example...? inizia ad imparare
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Information in each block could be dealing with ownership, taxes paid and planning permissions given for a piece of land so that the chain of blocks will display everything about the land in a way that cannot be changed, but which can be extended.
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Distributed processing effect means that the blockchain is secure from attack. If one computer is damaged, there are...? inizia ad imparare
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there are many copies still left on the network.
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Cryptocurrencies, such as Bitcoin and Ethereum, make use of blockchain technology to record transaction and...? inizia ad imparare
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The blockchain is itself secure because of the use of...? 2 inizia ad imparare
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Hashing algorithm | and the Distributed recording of the chain.
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Environmental audit examples: 2 inizia ad imparare
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Energy use. | Recycling waste.
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Information and communication example: inizia ad imparare
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reports on product failures
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Assessment of competencies, abilities and capabilities of a company's management.
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Charitable giving; volunteer activity. | Diversity in recruitment.
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External audit is appointed by? inizia ad imparare
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Budgets have the following roles: PFCCCAME inizia ad imparare
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Planning, Forecasting, Coordination, Communication, Control, Authorisation, Motivation and Evaluation...
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Bennis makes a distinction between the term “manager” and the term “leader.” 2 inizia ad imparare
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A manager is primarily concerned with administering the status quo. Time horizon of about a year. | A leader is more concerned with innovation, will be looking at the long-term future.
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Bennis suggested that great leaders have 5 qualities. DOMIC inizia ad imparare
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Dedication. | Openness. | Magnanimity. | Integrity. | Creativity. Magnanimity - magnanimity is like generosity, particularly when you have won a battle; humility.
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Leadership. Trait theory in not in use anymore because: inizia ad imparare
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it proved to be no good whatsoever by predicting who the good managers might be.
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Elton Mayo to his surprise he discovered that whether or not the lighting was increased or decreased, the productivity of the people in the experimental group went up.
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Leadership. Style theory. inizia ad imparare
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A manager’s or leader’s style determines leadership success. In particular, styles might have to change depending on who you are dealing with.
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Leadership. McGregor difference between theory X and Theory Y. inizia ad imparare
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X - manager assumes that people really don’t want to work, that they have to be watched very carefully, that they are lazy, that they only go to work because they have to earn money to live. | Y - Employees get enormous interest from going to work. more participative approach.
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Which one is better Theory X or Theory Y. inizia ad imparare
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Motivation is effectively a matter of contingency. It depends whom you are trying to motivate. Different people are motivated by different managerial approaches.
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Leadership. The Ashridge Management College model. inizia ad imparare
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Tells, Sells, Consults, Joins.
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Leadership. Handy’s best-fit theory four variables: inizia ad imparare
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Subordinates. | Task. | Environment. | Leader. LEST Handy said that each of these variables could be what he described as ‘loose’ or ‘tight’.
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Handy’s four variables deals could be what he described as...? What is the difference between them? inizia ad imparare
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Each of these variables could be what he described as ‘loose’ or ‘tight’. | A tight leader is very autocratic. | ‘Loose’ would mean that the leader is very participative or democratic. Leader. | Subordinates. | Task. | Environment.
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Handy’s best-fit theory essence. inizia ad imparare
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The best way of managing is to make sure the leader, subordinates, task, and environments all match. Each of these variables could be what he described as ‘loose’ or ‘tight’.
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Leadership. Adair – action-centred leadership. Elements: 3 inizia ad imparare
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Concern for individuals. | Concern for the group. | Concern for the task.
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Leadership. Adair – action-centred leadership. How shall we manage? inizia ad imparare
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According to Adair, it depends. On some occasions there may be a very urgent task and we have to reduce our concern for individuals and the group and concentrate on the task.
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The cultural web. Organisational structure. inizia ad imparare
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A tall narrow shape or a wide flat shape. The tall narrow shape tends to result in organisations which are rather bureaucratic and formal; wide flat tends to produce less formal cultures.
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The cultural web. Organisational assumptions (paradigm). Example for hospital. inizia ad imparare
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A hospital might have the assumption that it’s purpose is to provide healthcare irrespective of cost.
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Organisational culture classification by Charles Handy: inizia ad imparare
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Modern type of culture. employees do not concentrate so much on their role or title. Instead they concentrate on getting the task. The tend to be highly motivated, flexible, adaptable, and eager to learn.
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Organisational culture classification by Charles Handy: inizia ad imparare
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All or nearly all power is concentrated in the hands of one person. this culture often are small, perhaps family, organisations. However, even in some large organisations there can be a very charismatic Chief Executive Officer who with force of personality manages to wield great power. Current corporate governance rules suggest that the CEO and Chairman should be different people.
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Organisational culture classification by Charles Handy: inizia ad imparare
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Essentially bureaucracies. There tends to be great task specialization, many layers and titles, great formality.
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Organisational culture classification by Charles Handy: inizia ad imparare
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It refers to an organisation where the people are really pursuing their own particular ambitions. Perhaps a talented surgeon in a hospital might fall into this category. This isn’t of great importance in most organisations.
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Independent review and assessment of the risks, controls and safeguards in an organisation by someone from outside the company.
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General definition and examples of positive and negative social footprint... 1+2 inizia ad imparare
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Impact of organisation on people, society and the wellbeing of communities. Can be positive (jobs, infrastructure) or negative (unemployment, pollution)
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Internal controls in highly regulated industry (strategic assets). Such as water, energy, pharmaceuticals, defence equipment) inizia ad imparare
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More important because there is a extra need of ensuring compliance with externally-imposed requirements. There may be legal, regulatory, technical or medical nature. If company fails, it may loose the licence to operate or pay punitive fines.
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It means that buyers can largely buy on price (just as is often done nowadays when buying a laptop computer), because the services provided will be essentially the same.
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Business processes standards in terms of outsourcing and commoditisation. 3 inizia ad imparare
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Process activity standards. | Process performance standards. | Process management standards. activity | performance | management What are the process, its information flows and the movement of materials? | Once there is agreement about what a process consists off, this step establishes the level of performance required. | how is the process monitors, controlled and improved?
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Under a shared services arrangements all the billing and accounting services would be at one location and all offices would send and receive financial information from the shared service centre.
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Global business services require? inizia ad imparare
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requires that the services are integrated across to organisation. For example, procurement, HR accounting and IT are coordinated across functions and across regions.
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3 inizia ad imparare
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Cryptocurrency. | Paying by smartphone. | Online currency exchange and transmission.
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