What should we be selling? Who should we be serving? How should we execute? What products and services should be the focus of our marketing efforts? What new products and services should we offer? What prices should we charge Who should pay price premiums How should we reduce our for our products and services? What products and services should we discontinue? Who should be the focus of our marketing efforts? How should we supply our parts and services? Who should we start How should we expand our serving? capacity? or receive price discounts? Who should we stop capacity? How should we improve our efficiency and effectiveness? serving?

Financial vs. Operational Control; Behavioral Considerations in the Standard-SettingProcess You have been assigned to a strategic leadership committee that has been charged bythe CEO with developing and implementing a comprehensive management accounting and controlsystem. At the first planning session that you attended, the subject of financial-control systems arose,but there was some uncertainty regarding the nature of such systems and some of the behavioralconsiderations that might have to be made in the design process. You have been asked by the chair ofthe committee to prepare a short written document that could be used as the basis of discussion at thenext meeting. Specifically, you have been asked to define and distinguish between operational control and financial control and how such systems relate to an organization’s management accountingand control system; explain the theory behind the use of flexible budgets, standard costs, and variance analysis as elements of a…

b) Explain two ways organizations can use corporate disclosure policy to maintain or regain organizational legitimacy? explain in maximum of 200 words.

Please answer all 3 subparts Question 1 (i) Which of the following statement is correct concerning two-tier boards?A. The management board consists entirely of non-executive directors.B. The supervisory board has the responsibility for risk management and for thepreparation of the annual financial statement.C. The management board is led by the Chairman who is the CEO of the company.D. The supervisory board is responsible for managing the company. (ii) Who are key players, according to the firm definition of corporate governance:A. ManagementB. ShareholdersC. All stakeholdersD. The independent board (iii) Which of the following is not a statutory duty of a director?A. Duty to disclose any money received in connection of a transfer of company property.B. Duty to exercise due diligence in their work.C. Duty to contribute an appropriate sum of money to the board on joining the company.D. Duty to keep proper accounting records and make such records available for inspection.