corporate governance and supply chain

[opi0002]

Hey guys
Just wondering if someone had a good way of explaining these 2 terms. I still don't get them really! Thanks

[jsimmo]

Here is what I have in my notes:

The supply chain is a system of planning and management of all activities involved in sourcing(finding the required materials) and procurement(buying the required materials), storage of materials and the development of partnerships with suppliers and customers.
It covers the entire flow of materials from suppliers through the workplace to the end customer.

Corporate governance: a term used to describe the system or process by which a company is directed and controlled. Good corporate governance is expected to include ethical and socially responsible management.

I think that the term 'supply chain management' is very important to know because I have a feeling it could pop up in the definition section in this years exam. So make sure you know a solid definition. Good luck

[vce01]

^so the definition of supply chain management would just simply start with 'the management in charge of all activities....' and then the rest of your definition, right?

and ive got another Q - explain how planning assists in achieving organisational objectives

i came up with - planning involves the setting of goals and objectives, whether they are short, middle or long term. the carrying out of this management role provides a direction for the employees in an organisation to head towards so that they can all be working collectively to achieve those objectives that have been initially set out.

would that be OK?

[opi0002]

thanks so much jsimmo

[jsimmo]

vce01 -

I would start my definition off like this: Supply chain management refers to the process of sourcing and procuring all items needed for the efficient running of the organisation. It basically covers the entire flow of materials from suppliers through the workplace to the end customer.

with the planning question.. I think you have mentioned the attributes of 'leading' within your answer. You have said that planning "provides a direction for staff".. all of the stuff related to motivation/vision/direction falls under the role of leading not planning.

I like the start of your response (the definition is good). Maybe you could mention something like this:

Planning refers to the process of determining the goals and objectives of an organisation and the strategies required in order to achieve this. Management would need to ensure that the right planning is undertaken so that the appropriate organisational goals and objectives are set. Furthermore, management would need to implement a clear and direct strategy within their plans to ensure that the right path is undertaken so that the planned objectives and goals are achieved.

It's a tricky question but I think that would be enough for the marks.

[vce01]

ah okay, thanks (Y)

[Mikey123]

I reckon incorporate the 5 step process somehow in the answer. I would add that to that answer. Because that is what planning is.

[vce01]

^you mean the problem solving approach?

[Mikey123]

Yep.

Mention the strategic crap.

The your 5 step planning process. In this case planning to achieve your objectives. Your answer will depend on the marks on the question. But I will be inclined to put that.


I reckon definition on exam will be define and distigiush policy and procedure. Something simply but will stump a few.

[RD]

I reckon definition on exam will be define and distigiush policy and procedure. Something simply but will stump a few.

Shit, what is the difference between policy and procedure?!? *waits for jsimmo to answer*

[vce01]

according to the AOS1 quiz he posted i think it's something like this...

A policy is a written document and a procedure is a practical way of putting the policy into action. Probably need more though i think...if its >1 mark question.

[jsimmo]

according to the AOS1 quiz he posted i think it's something like this...

A policy is a written document and a procedure is a practical way of putting the policy into action. Probably need more though i think...if its >1 mark question.

Yep that's right. I don't think a question will focus too heavily on a policy or procedure.. I reckon they would only come up in the definition section??

I reckon incorporate the 5 step process somehow in the answer. I would add that to that answer. Because that is what planning is.

^you mean the problem solving approach?

Nah, I think he means the five stages of planning:

Setting objectives
Aanalyse current situation and future opportunities (SWOT)
Develop and evaluate alternatives
Iimplement the developed plan
Monitor and review the results

I don't think it's necessary to incorporate it into that question.

[vce01]

that SADIM thing, if you used the 'S' for 'selecting an issue/problem' - can't you then use that for problem-solving? a couple of times in the A+ exam book they've used that when a question for problem solving has come up.

[jsimmo]

Yeah I guess you could use it. I use DODDSE for problem solving/decision making and SADIM for planning. As long as you have four or five steps that basically cover the same stuff (defining, facts, alternatives, select/implement, evaluate) you should be fine.

Just remember: don't say, "A problem solving strategy that they could use is SADIM or DODDSE".. never refer to them by the acronym.. refer to them as a "..six/five step decision making model...."

[RD]

Just remember: don't say, "A problem solving strategy that they could use is SADIM or DODDSE".. never refer to them by the acronym.. refer to them as a "..six/five step decision making model...."

lol TSFX.