Key Theory Tap ins

Question 1

Contingency Theory

Answer 1

No system fits all

Question 2

Taylors Scientific Management

Answer 2

Scientific efficiency based on process measurements

Question 3

McGregor’s’ Theory X and Y

Answer 3

Y - Employees are Motivated by more than Remuneration

X - Only motivated by financial rewards

Question 4

Social Contracting Theory

Answer 4

Internal audit, governance etc..

Question 5

Shareholder Theory

Answer 5

Internal Audit, MCS, SMA

Question 6

Systems Theory

Answer 6

A firm is a connected series of systems. MCS.. Rigid to Organic

Question 7

Stakeholder Theory

Answer 7

Internal Audit, governance, risk quantification and reduction

Question 8

Human relations theory

Answer 8

Elton Mayo and Hawthorne studes

Question 9

Abraham Maslows’ Hierarchy of Needs

Answer 9

Basic to self actualisation.

Question 10

Legitimacy Theory

Answer 10

As part of managing key risks.

Question 11

Culture Theory

Answer 11

Key risks are contingent on the firms culture and environment. Risk perception is an active-ongoing process.