help???? (1 Viewer)

[ying]

answer to these plz
chian of command =? base on CS, P, or B thoery?
span of control=? base upon?
wat is informational role=?
interpersonal role=?
cushioning economic cycle=? plz give and example?
i noe its long but if just some1 post an answer for one then it will make easier
and also wat is the most improtant fiancial statement ? e.g balance sheet, reveun statement etc....

 

[ezzy85]

informational role: when managers are the ones giving out info.
cushioning economic is in global. its being setup in many markets so your not affected by fluctuating economic activity. eg. qantas survived the asian crash of 1997 because it had the us and uk market as a "cushion" from the crash.

 

[ying]

information role is giving out information tot he public about there financil position thier strategies etc.....?

 

[ying]

stilll dont get wat cushioning cycle is

 

[Newbie]

perhaps it refers to strategies undertaken by the firm in times of economic downturn to maintain levels of sales/profits

 

[Nupil]

Um as for most important financial statements - I would say both Balance Sheet and Cash flow statement, as both are outlined in the syllabus and both have been brought up in past papers.

Chain of Command = A long chain of command and thus a hierarchy is based on Classical Scientific. A shorter chain of command with middle management removed is based on the Behaviourial Theory.

Span of Control = Small span of control is part of Classical Scientific whereas a larger span of control is in a Behaviourial theory as it usually removes middle management, requiring one person to look after more people.

And ezzy85 is right in the "cushioning of the economic cycle" component ... it's when a business reduces it's risk by not being wholly committed with all it's money basically in one country and can spread it's risk by having other countries to cushion the effects of other countries doing poorly. The example ezzy85 gave is what I have too.

 

[Dreamer]

re: help

chain of command: this relates to the management theories, specifically classical scientific where by the chain of command is long as the heirarchical structure creates a strong division of labour. It can also be applied to behavioural as the chain of command is shorter, it shows who is responsible for who, e.g manager is responsible for 4 workers.

span of control: is used in the same context and means very similar things, it relates to the control someone has over other e.g a supervisor may have control over 3 workers.

Managerial roles, there are 3:
Interpersonal: acting as a leader, a figurehead
Informational: acting as a disseminator of information
Decision-making: acting as the negotiator.

Cushioning economic cycles relates to globalisation. It is a reason for globalisation and different countries experience different cycles. E.g if Australia is experiencing a recession a business may look to expand overseas to 'cushion' the negative effects of this recession in the hope that the other country is or will be soon experiencing a boom.

I hope i helped? u helped me remember

 

[ying]

yeah its help thx a lot guys and 1 more question wat is the most improtant finacali statment?

 

[chris42]

Hmm.. Probably the Balance Statement, Followed closely by revenue then cash flow.

 

[ying]

r u sure? ima goan turst ya man better be right

 

[chris42]

Well I'm not 100%, but thats the one they tend to use quite a bit, mind you revenue statements are used quite a bit as well, just know all of them as well as you can and you'll be fine. All you'll need to do is interpret them, they most likely won't expect you to write one from scratch, but they may ask you to fill in the blanks, they have in the past.

Revenue Statement key points

-Revenue (Sales)
-COGS (opening inventory + purchases) - closing inventory)
-Gross Profit
-Net Profit

Balance Sheet
-Assets
-Liabilities
-Owners Equity

Assets = Liabilities + OE

Cash flow statement

Cash flows from investments
Cash flows from financial
Cash flows from operational activities