E1 Questions and Answers

Which of the following provides the best description of an intranet?

An electrical goods company produces colourful brochures for customers.

Which element of the marketing mix does this represent?

Digital interactive marketing does NOT involve the use of which of the following?

System changeover has four approaches, each of which vanes in terms of risk. cost and time.

Select the most suitable approach for when there is a need to minimise costs and time.

Company P is a recruitment agency specialising in placing accountancy and legal personnel in employment. A large part of the role of the agency is to meet the prospective individuals in order to ensure they are placed in the most appropriate roles.

Which THREE elements of the marketing mix relate specifically to the type of business described, to a greater extent than would apply to a manufacturing company?

An internal audit department is set up to help prevent fraud.  Which of the following are possible implications if fraud is allowed to take place?  

Select ALL that apply.

One of the roles of the finance function is to help deploy solutions. Which activity of the "information to impact" framework is this a part of?

The finance function of IKR currently work on a quarterly reporting cycle to the board of directors

Data is collated and presented to the relevant departments and business units for decision making purposes

This often results in questions from the various functional department heads.

Which of the following is the next step in the information to impact framework?

Mr W wants to replace the family car. The cost of repair is becoming prohibitive so he has agreed with his wife to buy a new vehicle.

Put the tokens below in the correct order to demonstrate the stages in the buying process, according to Lancaster and Withey.

Company E is renewing the IS within the organisation. This new system will enable all employees to access customer information, orders and credit control status to overcome the lack of integration between departments suffered with the previous system. Managers envisage some resistance to the change and want to try to make the transition as smooth as possible. To achieve this, all employees have been invited to share their ideas of what features the new system should include and how they would like the final interface to work. Which of Kotter, Schlesinger and Sache's methods of dealing with resistance is described above?

Company XYZ has just launched an innovative technology device, designed to appeal to those consumers who want to be seen with the latest products. Which of the following pricing strategies would be most suitable at the time of the product's launch?

Mita has set up a number of food shops and spends a lot of her time finding suitable staff Her key strength is going to farmers' wholesale markets and selecting her suppliers She also carries out all the accounting functions and maintains the shops by acting as her own caretaker, carrying out repairs and maintenance at the weekends

Which aspect of the work would Mita be LEAST LIKELY to outsource?

A cut-flower production business has peaks of demand around special days in the year that celebrate religious festivals. Which of the Four Vs of operations is being described in the above scenario?

Which THREE of the following features are likely to indicate that an organisation is following the marketing concept as a business philosophy?

Company A works closely with its customers, suppliers and other business partners. It securely shares part of its private network with this group of stakeholders

Which of the following best describes the type of network that Company A operates?

According to Ansoff, which of the following marketing strategies should be adopted when introducing an existing product to a new market?

The Statement of Financial Position is NOT normally used to make decisions concerning which of the following?

Which of the following technologies is described as a decentralised, distributed and public digital ledger that is used to record transactions across many computers?

Which of the following is a cost of information?

Which of the following is an example of sustainability impacting operations management?

The secondary objectives of a not-for-profit organisation are economy, efficiency and effectiveness.

Which of the following gives the correct description of each of these?

A

Economy: Controlling costs.

Efficiency: Achieving objectives at minimum cost

Effectiveness A measure of achievement by reference to objectives

B

Economy Achieving objectives at minimum cost

Efficiency: A measure of achievement by reference to objectives

Effectiveness Controlling costs.

C

Economy: Controlling costs.

Efficiency: A measure of achievement by reference to objectives.

Effectiveness: Achieving objectives at minimum cost.

D

Economy: Achieving objectives at minimum cost.

Efficiency: Controlling costs.

Effectiveness A measure of achievement by reference to objectives

Capturing and utilising big data is now a key element of many organisations' value adding process. Which of the following best describes the attribute of big data velocity*?

XY Company is a manufacturing company making a variety of products for sale in different markets. Which of the following is the most likely organisational structure that such a company will adopt?

A is developing a new mission statement. Which TWO of the following should NOT be included?

Company V has made the decision to operate using Six Sigma in order to manage the supply chain within the production process. What process below is the method used to continually monitor and chart a process while it is operating?

RT Company produces sub components for the vehicle industry Worldwide changes in government regulation and social attitudes mean that there is an increasing pace of demand for hybrid and electric vehicles

B is the long serving finance manager of RT Company. Using various data and information provided by the finance function staff, and experience built up over many years. B is considering how new challenges might be overcome and how opportunities might be maximised by the company

In the context of the information to impact framework, which of the following best describes B's overall contribution to the anticipated changes'?

Which TWO of the following relate to corporate social responsibility (CSR) rather than corporate governance?

Barry has heard that the government is planning to tighten environmental regulations. He doesn't like the sound of this, as even though some businesses won't be affected that much, he will have to end up paying a lot

more to run his business.

Which of the following options would be most effective in preventing the government from imposing such regulation?

Select ALL that apply.

Company M has been dealing with Supplier Q for many years. The Procurement Department has a very professional relationship with the supplier and it has recently started using electronic data interchange to place orders directly and on a much more frequent basis to assist production. A large part of the interaction with the supplier is now around price negotiation. According to Reck and Long's strategic positioning tool, which stage is Company M at with Supplier Q?

Company V has traditionally sold children's toys from retail outlets. It is now exploring online retailing, or e-commerce, to expand its customer base. Which channel of distribution is Company V expanding into?

Cyber and physical systems becoming increasingly autonomous is part of which characteristic of the 4th industrial revolution?

XY Company manufactures in a highly competitive environment and achieves competitive advantage by regularly monitoring all the activities in its value chain. Which of the following would be affected by problems in the outbound logistics function?

It can be said that ethics is a set of moral principles underpinning the concept of right and wrong. Whether an action is actually right or wrong depends on which of the following?

Select ALL that apply.

Company S is a busy vehicle part manufacturer specialising in commercial vans and lorries. The company takes as many as nine deliveries of raw materials every day and these items are entered into the electronic inventory system upon arrival. When an item of inventory is taken from stores this is also updated electronically. Which inventory control system would be best utilised within Company S?

Which of the following statements best describes data extraction?

An organisation owned by its customers, generally not-for-profit and in the private sector, is commonly known as which one of the following?

Which of the following is a potential advantage of outsourcing?

Tom owns a guitar shop, called Jones's Guitars. In attempt to drum up business, he's decided to launch a guerilla marketing campaign.

Which of the following is the correct example of Tom using guerilla marketing?

You need to select potential candidates for the role of an office manager in a very busy office. An assessment centre has been organised to overcome the shortcomings associated with other selection techniques. Which of the following activities would be most suitable to assess candidates for the role of Office Manager?

Appraisal systems involve the collection of feedback on an individual's performance from a range of sources. Which of the following sources apply to 180-degree appraisal?

Select THREE sources that apply.

Company Q has several layers of management. The Chief Executive Officer (CEO) wishes to remove some of these layers to streamline the organisation and increase efficiencies. The initial plan is for third party contractors to take over support activities. What change in the organisation is the CEO making?

Which of the following is the main reason for the growing demand for Big Data by organisations?

JKL is an online marketing agency and is currently developing its systems to improve efficiency in storing and retrieving data

P works in the finance function and is currently assisting the development of a technical map of rules and data structures to enable the data to be stored effectively in JKL's new databases.

At what level of the data modelling process is P working on?

Which TWO of the following are activities associated with setting up a new IT system?

Unclear cost and profit responsibilities can be a feature of which type of organisational structure?

Fusion is predicted as one of the characteristics to define the Fourth Industrial Revolution.

What is meant by fusion' in the context of the Fourth Industrial Revolution?

Which of the following is an example of operational information?

Organisation X is 6 months into an overhaul in its supply chain management and production process.

 The organisation aims to prevent errors before they occur, demands participation by all, including customers and suppliers, and the structure is driven by the entire Board of Directors. Which method of management has Organisation X adopted?

Which of the following is a feature associated with personnel management rather than the more modern concept of  human resource management?

Level 2 of the contemporary shape of the finance function involves Strategic Business Partnering.

Which of the following statements is true?

Having the right assets and making the best use of them is crucial if an organisation is to achieve its strategies on a sustainable basis. Which of the following best describes the row of the finance function in relation to an organisation’s assets?

HKD is an online marketing company Its finance function is currently preparing budgets for the coming period.

At which stage of value creation is HKD's finance function currently playing a key role?

Which of the following gives the correct combination of valid stages in the HR cycle?

A company sells double glazed windows. It has traditionally adopted a sales orientation and used aggressive direct selling techniques. As part of a new initiative, it is exploring its options to update its business philosophy.

Which of the following would be the most effective orientation for this business?

A company is charging a high price for a product to individuals who are prepared to pay a premium for a new, innovative product Whilst doing this they are facing high marketing costs

Which stage of the product lifecycle is this product at?

Porter's Value Chain was developed to determine whether a firm's activities contribute towards it's competitive advantage. E is the new Chief Executive of an organisation which manufactures and distributes hand made wooden furniture. His initial observations are that sometimes the workflow through the organisation can be a little disjointed and it is unclear from overall results which areas contribute to profit and quality and which do not. Using Porter's Value Chain model, identify which THREE of the options below are Primary activities.

Kolb's learning cycle suggests that learning is a series of steps based on learning from experience.

Match the various stages of the cycle with the correct description.

Which of the following are types of primary research? Select ALL that apply.

Simone is a management accountant at a jewellers called ShinyShiny. She is currently conducting operational reporting for them.

Which of the following will Simone not discover during her operational reporting?

Select ALL that apply.

JKL is a rapidly growing supermarket chain and is considering merging with a smaller competitor to continue its expansion plans

T works within the finance department and is assisting in the decision making process by preparing summary reports concerning the merger.

What level of decision making is T supporting?

Company Y is looking into relocating its production from Country P to neighbouring Country O. After researching the cost of production, this move gives the benefit of reduced material and labour costs which more than off-set the costs of transferring the finished goods back into Country P for sale. The decision to relocate the production is classified as which of the following options?

Which of the following specifically describes experiential marketing?

Which type of organisation is owned by its customers, strictly speaking is a not-for-profit organisation and is in the private sector?

Which of the following is NOT one of the "three V's" of Big Data?

Introducing The Finance Function of PRS Company have been working with the Human enable which of the following business advantages'?

Company V is, and has always been, very focused on the importance of stakeholders to the business.

As a well known and very popular private fee-paying school, Company V has to take on board advice, feedback, complaints and queries from a great many different stakeholders, all of which have to be prioritised according to their impact and power over the operations of the company.

Listed below are some of the stakeholders that Company V deal with on a daily basis. Categorise each of these stakeholders according to whether they are internal, connected or external stakeholders.

The following statements are from which section of the UK Combined Code?

1:The board should disclose a balanced and understandable assessment of the company's position and prospects in the financial reports.

2:The board should maintain an appropriate relationship with the company's external auditor.

Which of the following statements regarding shamrock organisations are true?

1:Shamrock organisations typically comprise four discrete components.

2:The core group of executives are often supported by external contractors and part-time staff.

3:One of the main characteristics of a shamrock organisation is its flexibility.

Corporate governance in the UK, that provides guidance regarding areas such as directors, internal controls and remuneration, is largely defined by which of the following?

Which TWO of the following are examples of a knowledge work system?

Which of the following would be within the role of an operational line manager?  

Select ALL that apply.

Which TWO of the following are important aspects of the product in the marketing mix?

Which of the following do working capital reports include?

A decision has been made to close down a branch of a restaurant.

Which of the following is quantitative information produced by the finance function that will have supported this decision being made?

Which THREE of the following describe the role process maps can play in an organisation?

Finance business partners are seen as leaders that can influence the decisions that businesses make. Which of the following best describes their role in this process?

JFD is a pet supplies retailing business.

Using customer data to build the target customer profile. JFD plans to create personalised advertising and communications more specific to customers' wants and needs in its market It is hoped that this will create interaction and responses from these customers.

Which of the following is JFD using?

General Data Protection Regulation (GDPR) was introduced throughout the EU in 2018. The legislation details several principles about data and the requirement for data controllers.

Which of the following best describes the role of data controllers?

XYT company is planning to update its IT and have asked the finance function to assist by establishing suitable key performance indicators (KP1). Which of the following is an example of a suitable KPI for strategic activities'?

Corporate social responsibility (CSR) encompasses four different dimensions.

Match each of the descriptions below with the correct CSR dimension.

Company P has had a recent IS/IT audit and weaknesses were highlighted within the privacy and security section of the report. Which TWO of the following would be classed as general controls of privacy and security?

SSS has adopted some outsourcing practices in order to improve efficiency of its operations. One of the managers has been made aware that the supplier is now also working for a competitor. Which TWO of the following should SSS be concerned with regarding the supplier's and ompetitor's new relationship?

Material requirements planning (MRP I) and manufacturing resource planning (MRP II) are computerised systems used for planning the requirements for raw materials, work-in-progress and finished items and integrating with other production processes. These systems enable strong relationships to be forged with suppliers as orders can be placed with suppliers in good time to fulfill customer requirements and expectations, as well as other processes related to materials planning. Which of the following specifically can MRP I and MRP II NOT assist with? 

Which THREE of the following suggest an integrative approach to organisational purchasing according to Reck and Long?

T Company has recently appointed J as Chief Data Officer

One of the responsibilities of the appointment is to ensure compliance with the General Data Protection Regulations (GDPR) in force in the jurisdiction

J's first action was to carry out an internal audit of GDPR compliance

Which THREE of the following audit findings are indicators that T Company is compliant with GDPR''

Which of the following is NOT a key feature of total quality management (TQM)?

Which of the following is a feature of an organisation that has adopted a sales orientation?

132b039e-24c5-4309-a196-3cc86243b4c6: The marketing environment includes at a macro level:

The Finance Manager of HLL Company, a large energy provider, has organised a finance function staff meeting to discuss the potential use of big data systems.

The main point on the meeting agenda is whether the business has the available resources to store and manage the data that will be available and whether it has the financial resources to upgrade the information technology systems.

Which of the following features of big data will these discussions most likely involve?

One of the key corporate governance factors within an organisation is that of responsible planning and management of resources. This is often referred to as stewardship. Whilst this is the responsibility of all directors, financial resources are overseen by the financial director. The finance department, under the direction of the financial director, issues weekly staff performance reports to line managers and department heads, annual statistical information to local government departments and quarterly high level results statements to shareholders. Why is stewardship such an important responsibility of company directors and the finance function?

Which of the following is NOT an advantage of remote working for an organisation?

Data science is increasingly important in the production of business focused data It consists mainly of experts with backgrounds in mathematics, programming and computer science

Which of the following best describes the attributes of a data scientist?

A new manufacturing firm has been growing very rapidly. Both its output and hired staff have increased dramatically, and it's looking like the business will have to physically expand sometime in the near future.

The company's managing director decides to outsource the payroll of the business to an external provider.

What are his likely reasons for making this decision?

Lancaster and Withey (2003) identifies five steps in consumer decision making. Which THREE are valid?

La Vie En Rose was the latest perfume from the popular and well known perfumery, Lola. In almost every high quality magazine there was an advert featuring a famous actress and produced by a well known director. A

few weeks after launching, La Vie En Rose became the top selling perfume.

At the same time, another perfume called Amber launched from a smaller company and only appeared in a few advertisements and the perfume doesn't sell well.

In a blind test, where participants tried both Amber and La Vie En Rose, it was found that La Vie En Rose was the most popular choice.

Which orientation did La Vie En Rose use and why was it more successful than the Amber perfume?