Former HP FD Madden take CIMA presidency

Former HP FD Madden take CIMA presidency:

 CIMA Myriam Madden elected president next year, after an annual general meeting earlier this month. 

Having worked as vice president during the term of Keith Luck, Madden has experience in global governance roles in the organization, including the president of the world eight years Member Service Committee and member of the Board of Audit and Risk Committee .With a specialization in finance and business transformation in the public sector, financial services and internationally in major global companies, Madden became president in an important moment for the CIMA.The organization joined with the American Institute of Certified Public Accountants (AICPA) and plans to establish the World Chartered Management Accountant (CGMA) as a quality standard worldwide for accounting, and continued promotion of management accounting the company.In her new position, she said: "CIMA has a valuable asset in its global community of students and members - one of my ambitions is to be confident advocates galvanized by CIMA and the profession of management accounting."He added: "The strategic initiatives of the CIMA will be more effective if the ideas of enthusiasm, energy and several of our members and students to reflect."Madden directed change programs and financial functions within a wide range of companies, such as Hewlett Packard, Arts Council of Scotland and the NHS. She became president of CIMA 82.

Cima E2 Exam Question No 19

Question No 19:

What is the Non-substitutable?

A substitute is a product that fulfils the same need as the product being produced. The key need for a hotel is to have somewhere to stay, so substitutes might include camping, hostels and guest houses. If our hotel was a luxury hotel, where the need was to have somewhere to stay in the city center in a luxurious, comfortable environment, those substitutes would not suffice and the hotel would become non-substitutable.

Cima E2 Exam Question No 18

Question No 18:

Political Approach to Strategy

Recognizes the influence of power in strategy development, and hence the use of bargaining and negotiation in setting strategy.
the formulation of strategy is viewed as a political process where political and stakeholder analysis to determine the main sources of power.

Cima E2 Exam Question No 17

Question no 17:

What is crafting strategy?

Emergent strategies can be combined with the successful elements of the planned strategy to define the way forward for the business. This is more appropriate for businesses in a changing environment, such as high technology, where restriction to one planned strategy may be a competitive weakness.

Cima E2 Exam Question No 16

Question No 16:

What is Emergent Strategies (Mintzberg)?

Strategies which emerge outof the course of the business rather than having been formally planned. They could perhaps be due to opportunities which present themselves (e.g.a competitor comes up for sale) or threats which need to be addressed (e.g. a competitor develops a new product and the company must follow suit to remain competitive).