ICAEW BTF - Memory Recap Exam
Questions And Answers 100% Pass
Porter's 5 forces model, what is the purpose and what are the elements? - answerAnalyses the
competitive aspect of the task environment:
- Bargaining power of suppliers
- Threat of substitute products or services
- Bargaining power...
Would a driver mislaying a tablet containing sensitive information constitute a cyber risk? -
answer✔Potentially yes, cyber risk also encompasses operational IT risks due to poor systems integrity
so if the data would be accessible then this could be a cyber risk
What are Mintzberg's 5 basic components of an organisation, and what do they do? -
answer✔Technostructure: designs systems and standardises work
Strategic apex: those at the top (board, etc.)
Middle line: middle management
Operating core: front line workers
Support staff: cleaning, catering, etc.
What are the CATIVA criteria for good information processing?
What are the ACIANA criteria for good information security systems? - answer✔Completeness, accuracy,
timeliness, inalterability, verifiability and assessability
Difference between data and information? - answer✔Data is simply distinct pieces of information, can
take many forms. Information is the output of whatever system is used to process data - e.g. a computer
system. It has structure to it.
What is the definition of risk and uncertainty? - answer✔Risk is the variation in an outcome while
uncertainty denotes a lack of information
With regards to internal controls, what are the managers responsible for? What about the board of
directors? - answer✔Managers are supposed to implement the controls and monitor them. The board of
directors are responsible for policy making, reviewing effectiveness and reporting to shareholders.
What are the types of finance activities for a company and what are their responsibilities? -
answer✔Finance function (overarching)
Treasury management: cash budgets, long-term finance decisions, managing financial risk, management
of working capital
Financial reporting: financial statements, tax, provision of information to external regulators --> external
What are the key features of an organisation? - answer✔Social arrangement that pursues collective
goals, controls its own performance, and has a boundary separating it from its environment
What are Mintzberg's 5 Ps of strategy? - answer✔Plan - for example a budget
Ploy - like a manoeuvre in a competitive game
Pattern - something you tend to do
Position - matching internal and external factors
Perspective - what is your attitude to the environment?
What are the stages of the rational planning model? - answer✔SWOT analysis (internal and external)
Corporate appraisal
Mission, goals and objectives
GAP (difference between the appraisal and the mission)
Strategic choice
Implementation --> review and control (feedback loop)
What is cost leadership, differentiation, and focuses? - answer✔Cost leadership simply about producing
at the lowest cost in the industry as a whole (note that not necessarily charging the lowest prices
Differentiation about providing a product or service that the industry believes to be unique
Focus/niche means restricting activities to one section of the market (can have both a cost focus niche
and differentiation niche)
When would we use a SWOT analysis? - answer✔At the corporate appraisal stage
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Thebright. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.49. You're not tied to anything after your purchase.
