Amal Ratnayake chose 86th CIMA President

Lankan conceived and Canadian money pioneer Amal Ratnayake FCMA, CGMA has been named 86th President of the Chartered Institute of Management Accountants (CIMA), the most astounding volunteer post of the world's driving proficient body for the executives bookkeepers.

In May, Ratnayake was additionally affirmed as Chairman of the Association of International Certified Professional Accountants (the Association), the worldwide bookkeeping association framed by CIMA and the American Institute of CPAs (AICPA) to propel the bookkeeping calling around the world.

As CIMA President, Ratnayake will speak to 228,000 individuals and understudies over the worldand be dependable to guarantee the proceeded with quality of the Institute, which is commending its 100th commemoration this year.

In his job as the Association Chairman, he will likewise work to address the issues of in excess of 657,000 open and the board bookkeepers and keep up the calling's importance to people, organizations and different partners crosswise over 179 nations and domains.

Ratnayake gets to work as crafted by bookkeeping and money experts experiences sweepingchange. Innovation is changing everything from reviews to the job of the CFO, requiring new abilities and better approaches for working.

In the Association's very own Future of Finance inquire about, for example, over half of account pioneers comprehensively said the capabilities of their groups must change altogether throughout the following three years.

During his term, Ratnayake will focuson propelling a carefully engaged calling, reconsidering the administrations that bookkeeping experts give and showing the worth they acquire a quick changing business world. He will work intimately with AICPA Chair Bill Reeb CPA, CGMA, who will fill in as Association Vice Chairman.

On his arrangement, Ratnayake stated: "I am enchanted to have been chosen by my peersto fill in as CIMA President and Chairman of the Association of International Certified Professional Accountants, especially at such a huge time for the calling.

"For over a century, we have been growing very qualified worldwide fund experts, however we have additionally seen intense innovation driven change in the realm of business and finance.Our calling is currently at intersection, confronting both new chances and difficulties from computerized disturbance.

"To flourish, we should reconsider what we do and how we do it. Weneed to grasp new advancements anddevelopa computerized outlook that complementsour conventional money and bookkeeping abilities."

Sri Lankan-conceived Ratnayake turned into a CIMA part in 1993 and started volunteering with the Education and Training Committee of CIMA Sri Lanka before long. In 2004, while living in Canada, he joined the CIMA Canada Board and was named as Board Chair in 2012 and 2013.

From 2013-2017 he filled in as CIMA Council agent for the Americas, and led CIMA Global Markets Committee from June 2015 to December 2016. In 2017, he joined the Board of Directors of the Association of International Certified Professional Accountants.

With a MBA from Cranfield School of Management, Ratnayake is an accomplished transformational pioneer and key CFO with a worldwide reputation of driving budgetary and basic change in organizations.

He is as of now CFO at The Official Community Corporation, an online occasion driven brand the board organization for built up account specialists, and recently held various senior fund jobs for organizations in Sri Lanka, Saudi Arabia and Canada.

Different arrangements sanctioned at the CIMA Annual General Meeting include: 2018-19 CIMA President Steven Swientozielskyj FCMA, CGMA ended up prompt Past President; Nick Jackson FCMA, CGMA was chosen as Deputy President; Paul Ash FCMA, CGMA was chosen as Vice President.

Cima E2 Exam Question No 70

Question No 70:

Approaches to managing the change process

1. Lewin's three stage model
*Unfreeze (existing behavior)
*Changing behaviour
*Refreeze (new behavior)
2. Lewin's force field analysis
*Driving forces - Factors encouraging & facilitating the change.
*Restraining Forces- factors that hinder change.
3.Beer & Norris - Theory E and Theory O
*Theory E will tend to ignore feelings and attitudes. Based on measures where share holder value is main concern.( incentives,layoffs,downsizing,restructuring)
Theory O will often fail to take the tough decision that may be need. these are softer approaches to change, often involves in cultural adjustments.( obtaining feedback, reflecting and then making future changes)

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Cima E2 Exam Question No 69

Question No 69:

M is a business that sells custom made computer-based information systems. Each customer order is for a unique system, which will involve experts from many functional areas within M. Each customer expects a high level of individual attention. Some systems take only four to six months to design and produce and cost less than €50,000, whereas other systems cost several million Euros and can take up to three years to complete. Projects are continually being completed and started.
A Management Consultant's review of M's organisational effectiveness has concluded that the matrix structure is the most appropriate for M.

Required:
Identify the characteristics of the organisation that make it appropriate for M to have a matrix structure.


The characteristics of M that are appropriate to it adopting a matrix organisational structure are as follows:

• The business of M consists of a series of projects which are custom made, which are complex and require staff from a number of different functional areas;
• The projects undertaken by M have different start and end dates, so the organisation is continually reassigning resources from project to project as one ends and another begins;
• The projects undertaken by M are complex so the staff benefit from also being assigned to a technical function (such as finance or procurement) where they can share knowledge and experience with colleagues in their functional teams;
• The projects undertaken by M are often expensive, so having resources controlled by functional heads should lead to improved utilisation and reduced duplication across the different projects;
• The projects undertaken by M are customer facing and customers expect a high level of customer focus. Therefore, the customer will require a single point of contact (the project manager) to deal with customer requests and problems.

Cima E2 Exam Question No 68

Question No 68:

C is planning to set up a dry cleaning and laundry business which will be a new venture for her. She has identified suitable premises which are located in the commercial centre of S City. This could be viewed as a high risk strategy since it would be the only business of its type in the commercial centre. 

However, C's view is that there is significant potential to provide dry cleaning and laundry services to customers who commute to the city from where they live and where dry cleaning and laundry businesses already exist.

C now needs to determine on what basis her new dry cleaning and laundry business could gain sustainable competitive advantage.

Required:
(a) Describe the different ways in which C's dry cleaning and laundry business could seek to gain competitive advantage.

(b) Explain the factors C should consider when deciding on the basis for her business's competitive strategy.

 
Answer:
Requirement (a)
According to Porter, there are three possible ways through which C could develop her business to achieve competitive advantage over rival businesses. Firstly, she could decide to compete on the basis of cost (cost leadership). By offering the laundry and dry cleaning services at significantly lower prices than her competitors, C could attract price conscious customers. However, to sustain its advantage C would need to ensure that customers are satisfied with the quality of service provided in order that they keep returning to her business.

A second option for C would be to offer potential customers something unique that they value in terms of the services her business could provide that competitors might not easily copy or imitate (differentiation), such as excellent customer service.

Finally, C could decide to concentrate her business on just a small part of the potential market by offering a specialised laundry and cleaning service tailored to the needs of a particular market segment rather than trying to cater for the mass market. This approach to achieving competitive advantage is called focused differentiation

Requirement (b)
In deciding the basis for her business's competitive strategy, C will need to consider which strategy best positions her business relative to potential rivals, in the light of the threats and opportunities posed within the market and also the general environment.

This will involve C analysing the environment in which her business will operate to assess likely strengths and weaknesses when compared to rival businesses.

Cost leadership may prove a difficult route for C's business due to the potentially high costs normally associated with operating in a city centre location. However, the location C is considering for her dry cleaning and laundry business could prove to be its greatest strength of all despite the fact that its potential customers do not live nearby.

C could exploit this by offering commuters a high quality and convenient service together with a fast turnaround, then price may not be as crucial a factor. This would use differentiation as the basis of the business's competitive strategy.

Whilst C's business may be unlikely to compete with dry cleaners located in the commuter towns in terms of the range and diversity of items cleaned, e.g. curtains and bed linen as well as clothes, it could focus on business suits and other garments dropped off/picked up by office workers on their way to and from work.

She could even target commercial premises themselves and have a pick up and drop off service for laundry, which could present a distinct advantage over rival businesses.

Cima E2 Exam Question No 67

Question No 67:

What is Network organisations?
Network organisations are more flexible than traditional organisations as it is easy to increase or reduce capacity through using the outsource company or the alliance.

Cima E2 Exam Question No 66

Question No 66:

What is Virtual organisations?

Virtual organisations are a type of network organisation with a focus on the use of IT as the communication tool between its employees and also between employees and contractors. 
This enables everyone to be located in geographically disperse locations yet still work together to produce the end product.