L4M8- LO3- Application of WLAM Flashcards

Question

What should be considered to understand the costs of an asset?

Answer 1

Asset lifespan Asset finance- interest for a loan, lease agreements, retained profits Detailing/appraisal costs- one off costs like installation and ongoing costs like training

Answer 2

Internal- involved directly with the organisation e.g. directors, employees External- have an interest in the organisation e.g. local community or competitors Connected- External with an interest in the organisation e.g. banks

Answer 3

Management of stakeholders. Based on power vs interest Minimum effort keep satisfied (high power low interest) Keep informed (high interest low power) Manage closely/ key player

Answer 4

Communication Consultation Empathy Planning Relationships Risk Compromise

Answer 5

In a team there will be 9 different roles within 3 categories. Need these skills to deliver a team objective THOUGHT: Monitor evaluator Plant Specialist PEOPLE Coordinator Team worker Resource Investigator ACTION Implementer Shaper Completer/finisher

Answer 6

Forming Storming Norming Performing Adjourning

Answer 7

Explicit- information is written down and documented e.g in books or databases Tacit- Information in a persons mind. Knowledge is gained from experience, values and practices. Difficult to document

Answer 8

Lewin's change model is a three-stage process for managing change that involves unfreezing, changing, and refreezing: Unfreeze: The first stage involves preparing for the change by convincing people that old processes or behaviours need to be replaced. Change: The second stage involves implementing the desired change. Refreeze: The third stage involves solidifying and adopting the new behaviour so that it becomes part of the daily routine.

Answer 9

Primary- Gathered directly from the source, takes a long time to gather, collected from surveys/interviews/experience, relatively expensive, specific and accurate Secondary- Gathered by a third party, quick to gather, collected from books/journals/websites, relatively cheap to gather, may not be exactly what is required

Answer 10

Withdrawal of an asset from service. Organisations often overlook the process and fail to budget for the resources to carry it out. It is a cross functional task 1. Preparation- planning, resources required, technicians, dates, information for stakeholders, management, 2. Dismantling- taking apart, removal of any potential hazardous fluids/chemicals/sharp edges, storage 3. Processing- May be upgrading so needs to be amended, licenses required for disposal of waste, booking transport for removal 4. Disposal- taking to landfill/recycling/new owner, exchanging, storage Decommissioning can be a large expense so understanding the costs at the outset. When decommissions it may be entered into 'retirement' on the organisations statement of financial position so it is shown as a liability.

Answer 11

Reduction in value of a tangible/fixed asset over time Can be fully or partially depreciated Think about cars, toys, time shares

Answer 12

The statement of financial position for a company is often referred to as the balance sheet. It is used to report the assets, liabilities, and equity of a business on a given date – a summary, or snapshot, of its overall value at a certain point in time. It is good practice to include fully depreciated assets too and only removed once entirely disposes of

Answer 13

Financial and accounting implications (depreciation, asset register, statement of financial position) Transport method- think about disposal of a washing machine vs excavating equipment Risk- Damage to premises, H&S, contamination, security, Environment impact- e.g. oil leakage Legislation- e.g. WEEE Reputation- If irresponsibly done it could result in boycott

Answer 14

As part of legal considerations for waste management organisations must take reasonable measures to prevent the unauthorised deposit, treatment or disposal of waste. Laws are there to protect the environment and human health/ wellbeing Includes the waste management, duty of care code of practice: - Knowing the waste you produce - Ensure effective waste carriers are registered - Waste transfer notes must be used giving detail on the waste and how its packaged - Must deal with waste properly and legally

Answer 15

Department for environment, food and rural affairs It has responsibility for protecting biodiversity, the countryside and the marine environment, and for supporting the growth of a sustainable green economy, including rural communities, and British farming and food production.

Answer 16

LATS- Landfill allowance trading scheme- aim to reduce the amount of biodegradable waste going to landfill Landfill tax- Tax to dissuade people from using landfill Environment agency- responsible for maintaining and protecting the environment. The Environment Agency works to create better places for people and wildlife, and supports sustainable development. EA is an executive non-departmental public body, sponsored by DEFRA Animal by products regulations (ABPR)- rules for disposal of manure, carcasses and biogas

Answer 17

Battery directive- regulation on manufacture, accumulation or disposal Landfill directive- reduce negative effects of landfill Hazardous waste regulations- restrict movement and storage WEEE directive- Waste electrical and electrical equipment aims at recycling and recovery of electrical goods

Answer 18

1. Do nothing 2. Reactive 3. Preventative- Plan, schedule, coordinate 4. predictive- fix it before it breaks 5. proactive- defect elimination through continuous improvement