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ABCD Flashcards

(75 cards)

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1
Q

3 Leadership theories

A

trait: born w/ traits
Behavioural: patterns of behaviour
contingency: the environment affects type of leader needed

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2
Q

2 Leadership styles

A

transformational: touches lives
transactional: focuses on systems

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3
Q

entrepeneurship

A

businesses set up by individuals wanting to take risks

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4
Q

intrapeneurship

A

integrates risk taking amongst employees within a company

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5
Q

WHY is a firm unable to adapt to change

A

cultural wen

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6
Q

corporate code of ethics

A

set by business

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7
Q

professional code of ethics

A

set by profession

IESBA code of ethics

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8
Q

UK ethics

A

principal based approach,

allows room for interpretation

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9
Q

USA ethics

A

SOX approach,

if broken, law is broken

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10
Q

IS profit being made in an ethical way?

A

Tuckers 5 Qs

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11
Q

IS this a good strategy?

A

JSW Model

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12
Q

ANALYSE macroenvironment of firm

A

PESTEL

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13
Q

WILL this allow the firm to be global or move locations?

A

Porters diamond

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14
Q

SHOULD I enter this market?

A

Porters five forces

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15
Q

CUSTOMER analysis?

A

segmentation, motivation and unmet needs

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16
Q

ACHIEVE performance requirements and fundamentals to success

A

CSF and KPI for products and services

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17
Q

WHICH activities contribute to competitive advantage?

A

value chain

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18
Q

ASSESS strategic objectives

A

SFA

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19
Q

WHERE to allocate cash?

A

BCG Matrix

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20
Q

HOW to grow?

A

Ansoff Matrix

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21
Q

Corporate Governance

A

the system by which companies are directed and controlled

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22
Q

Agency - Principal theory

A

directors, managers, auditors VS shareholders

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23
Q

Agency Costs

A

Costs arising from agent acting on behalf of principal

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24
Q

Corporate Stakeholder

A

Someone that is affected by actions of corporation

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25
Internal Stakeholder
director, employee, management
26
External Stakeholder
auditors, government, regulators
27
WHICH stakeholders shall we focus on?
Stakeholder Map
28
CSR 5 aspects
``` operate ethically treat employees fairly respect human rights responsible citizen sustain environment ```
29
insider system
family run
30
outsider system
principal, agent
31
AGM
required annually
32
AGM
required annually by law to go over election of directors and appointment of auditors
33
EGM
extraordinary general meeting, | usually called on short notice to deal with an urgent matter
34
FCA full cost accounting for sustainability
takes into account economic, environmental and social costs of production need lots of data, how to cost environ and social costs
35
TBL triple bottom line accounting for sustainability
report 3 aspects, economic indicators, environmental indicators and social indicators. Recognise issues in business model (rather than accounting for them as costs)
36
IR - Integrated Reporting
IR is the future of accounting, it focuses on the future and how to add value, information is accessible to everyone. Very resilient and identifies critical relationships
37
Board of directors: multi tier
1 board of execs and 1 board of NEDs clear and formal separation BUT execs may have too much power
38
NED role
challenge strategy, monitor performance, decide on remuneration of ex directors
39
reasons for main committees
to delegate time consuming and detailed work | separate aspects where they may have conflict of interests
40
main committees
remuneration nomination audit and risk
41
Public sector governance focus - 3 E's
economy, on budget effectiveness, deliver whats planned efficiency, deliver an acceptable return
42
NGO's non governmental organisations
task oriented, usually with humanitarian function, e.g. red cross
43
remuneration committee
remuneration should be sufficient enough to attract people and provide an incentive to work hard
44
audit committee
should oversee internal audit, liaison with external auditors and all members should independent
45
nominations committee
identify candidates with the correct background and skills to fill the committee
46
public sector governance
carry out activities on behalf of those that pay taxes, problem is how much should be allotted to what activities
47
environmental management system EMS
aims may be to : | minimise environmental impact, comply with laws and regulations, make continual improvements
48
Mendolow Matrix
-
49
Board of directors: unitary board
UK and US have this structure, one whole board of directors and half should be NEDS, they all contribute and have legal status
50
responsibility of board of directors
skill, care, attendance, no conflicts of interest and no personal gain
51
Directors remuneration componenets
``` basic salary bonuses shares, share options benefits pensions ```
52
risk committee
approve organisations risk management and risk policy
53
risk definition
risk is associated with the possibility that things might go wrong
54
risk management
process of managing all kinds of risks that an organisation might face
55
speculative risk
the outcome could be positive or negative
56
pure risk
the outcome can only be negative
57
fundamental risk
the risks that impact society as a whole or a large group of people
58
particular risk
risks by choice of action, where individuals have control
59
risk appetite
set by the board and is the level of risk you should take
60
risk management process
identification: list analysis: prioritise planning: contingency monitoring: assessment
61
COSOERM
strategic, operations, reporting and compliance
62
Key risk
market, product, environmental, financial, political
63
operational risks
relates to matters that can go wrong on a day to day basis
64
strategic risks
risks relating to the fundamental and key decisions that directors make about the future
65
business risk
relating directly to the business e.g. product, currency, interest rate, political
66
financial risk
gearing risk and liquidity risk
67
risk appetite is based on
risk capacity (amount) and risk attitude (extent)
68
analysing risk
analyse the impact AND likelihood which allows more control over impact
69
risk manager
provides info, assistance and advice on how to improve risk awareness
70
risk managers activities
identifies risk, prepare risk reports and establishes models for risk assessment
71
risk awareness
crucial at all parts of an organisation, ensures people know what to do when a risk occurs
72
embedding risk
effective communication and lack of blame culture
73
hedging
equal and opposite = neutralises risk | hedging is the theory to create an opposite situation to get rid of risk
74
TARA
transfer, avoid, reduce and accept
75
Ansoff Matrix (risk)
market penetration is least riskiest | diversification is most risky

1 ACCA (4 decks)

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