Responsibility Centres:   a. Discuss the difference between daily and strategic decisions. Think of a business and provide an example of a daily and strategic decision.   b. Describe the concept of responsibility accounting.

Which among the following is one of the advantages of the McKinsey 7S model 1 It is considered a long-term modelWith the changing nature of businesses, it remains to be seen how the model will adapt. 2 It seems to rely on internal factors and processes and may be disadvantageous in situations where external circumstances influence an organization. 3 It is considered a longstanding theory, with numerous organizations adopting the model over time.

Requirements Read the Koss Corporation Case Study Download Koss Corporation Case Study.  Answer the following questions (below). Questions  Using the Gleim Review reading, specifically study unit 1.4 on Corporate Responsibility for Ethical Behavior, answer the following: What were some of the factors that led to the fraud within the Koss Corporation? How could adopting, using, and teaching a Code of Conduct help the culture of this company? Discuss how understanding of the IMA's Statement on Management Accounting "Values and Ethics", could have helped prevent this situation. What are the responsibilities of the following entities in this case? American Express Park Bank Sue Sachdeva Michael Koss Julie Mulvaney

The fundamental purpose for the existence of any organization is described by its: A. Policies B. Procedures C. Mission D. Strategy

3. Provide at least two distinctive definitions of two of the following terms: • Leadership • Job satisfaction • Organizational effectiveness • Service quality • Auditor liability • Cash flow

Current Business Strategies Report  In order to bring current examples of strategic issues and problems into the class, each student will present a current business strategies report.  The report should be drawn from one specific news article in the business press and should deal with a topic within the last 12 months.  The article(s) should highlight the strategic issues facing a particular firm or industry and should be directly related to specific topics of this course.  Your oral report should include the following points: (specific guidelines to be reviewed in class) A very brief review of the key facts of the article- what it’s about; why it’s interesting; why it’s important Identification and explanation of the key course concepts, tools, topics that this report relates to.

Managing by objectives (MBO) is considered as a modern management approach distilled from principles derived from various theories Identify the source theories and explain the principles From the MBO process, explain how MBO aids planning

Identify which function of the management of an organization is being described by the following statement: Requires management to look ahead and to establish objectives. A key objective of management is to add value to the business   a. Controlling   b. Directing   c. Planning

Why is it necessary for boards to delegate financial responsibilities or accountabilities? Is there a difference between responsibility and accountability in this context?

4. Why is MIS looked upon as a strategic need of management today?