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ICAP CA Business Management and Strategy Flashcards
50 question-and-answer cards covering Business Management and Strategy as it is examined in ICAP CA. 24 of them are printed below, taken from across the deck — no signup, no paywall on the preview.
24 sample cards from the Business Management and Strategy deck
Sampled from the end of the deck, so these are different cards from the ones shown on the syllabus page.
What are the forces in Lewin's force-field analysis?
Driving forces (pushing for change) and restraining forces (resisting change); change occurs by strengthening driving forces and/or weakening restraining forces.
What are the eight steps of Kotter's change management model?
1) Create urgency, 2) Build a guiding coalition, 3) Form a strategic vision, 4) Enlist a volunteer army/communicate the vision, 5) Enable action by removing barriers, 6) Generate short-term wins, 7) Sustain acceleration, 8) Institute/anchor the change in culture.
List common reasons employees resist organisational change.
Fear of the unknown, loss of status/job security, self-interest, distrust of management, low tolerance for change, poor communication, and disagreement over the need for or method of change.
What are the four perspectives of Kaplan and Norton's Balanced Scorecard?
1) Financial, 2) Customer, 3) Internal business processes, and 4) Learning and growth (innovation).
What key question does each Balanced Scorecard perspective answer?
Financial: 'How do we look to shareholders?' Customer: 'How do customers see us?' Internal process: 'What must we excel at?' Learning & growth: 'Can we continue to improve and create value?'
Why was the Balanced Scorecard developed?
To overcome reliance on purely financial (lagging) measures by adding non-financial and forward-looking (leading) measures, giving a balanced view that links strategy to performance across multiple perspectives.
Distinguish between financial and non-financial performance indicators, with examples.
Financial indicators are monetary (e.g. ROCE, profit margin, EPS, EVA). Non-financial indicators are qualitative/operational (e.g. customer satisfaction, defect rate, on-time delivery, staff turnover, market share).
What is the difference between a 'lead' indicator and a 'lag' indicator?
A lag indicator measures past results/outcomes (e.g. profit); a lead indicator measures the drivers that predict future performance (e.g. customer satisfaction, training hours).
State the formula for Return on Capital Employed (ROCE).
ROCE = Operating profit (PBIT) / Capital employed x 100, where capital employed = total assets less current liabilities (or equity + long-term debt).
What is benchmarking?
The systematic process of comparing an organisation's performance, processes or practices against a standard or 'best-in-class' reference point to identify gaps and drive improvement.
Name and describe the main types of benchmarking.
Internal (comparison between units within the same organisation), Competitive (against direct competitors), Functional/Process (against best practice in a particular function regardless of industry), and Generic/Strategic (against best-in-class organisations in any industry).
What are the typical steps in a benchmarking exercise?
Plan (select what to benchmark and the benchmark partner), Collect/analyse data, identify performance gaps, set targets, implement improvements, and monitor/review results.
Define corporate governance.
The system of rules, practices, relationships and processes by which a company is directed and controlled, balancing the interests of shareholders, management, and other stakeholders and ensuring accountability.
What are the key responsibilities of a board of directors?
Setting strategy and objectives, overseeing/monitoring management, ensuring adequate risk management and internal control, ensuring accountability to shareholders, and safeguarding the company's assets and reputation.
Why is the separation of the roles of Chairman and CEO recommended in corporate governance?
To avoid excessive concentration of power in one individual, provide a balance of authority, ensure independent oversight of executive management, and improve board accountability.
What is the role of non-executive directors (NEDs) in good governance?
To provide independent judgement and objectivity, scrutinise and challenge executive decisions, oversee key committees (audit, remuneration, nomination), and protect shareholder/stakeholder interests.
Name the three main board committees in a corporate governance structure and one role of each.
Audit committee (oversees financial reporting and internal controls/audit), Remuneration committee (sets director pay independently), and Nomination committee (oversees board appointments/succession).
What is the 'agency problem' in corporate governance?
The conflict of interest where managers (agents) may pursue their own interests rather than maximising the wealth of shareholders (principals); governance mechanisms aim to align these interests.
What is the difference between business ethics and corporate social responsibility (CSR)?
Business ethics concerns the moral principles and standards guiding behaviour/decisions; CSR is the organisation's broader responsibility and voluntary actions towards society, stakeholders and the environment beyond legal/profit obligations.
What are the four levels of Carroll's CSR pyramid?
From base to top: Economic responsibilities (be profitable), Legal (obey the law), Ethical (do what is right/fair), and Philanthropic (be a good corporate citizen/contribute to society).
What is the 'triple bottom line' in the context of CSR?
Measuring organisational performance against three dimensions: People (social), Planet (environmental), and Profit (economic) — often called the 3 Ps.
What is digital transformation, and what does ERP stand for and do?
Digital transformation is the integration of digital technology into all areas of a business to fundamentally change operations and value delivery. ERP (Enterprise Resource Planning) is integrated software that manages and links core business processes (finance, HR, supply chain, etc.) in a single system/database.
What is Enterprise Risk Management (ERM) and what are the main risk response strategies?
ERM is a structured, organisation-wide process for identifying, assessing, responding to and monitoring risks to achieve objectives. The four main responses (TARA) are: Transfer, Avoid, Reduce (mitigate), and Accept (retain).
Define the 'CIA triad' in cybersecurity and explain 'data governance'.
The CIA triad is the three core security objectives: Confidentiality (preventing unauthorised access), Integrity (keeping data accurate/unaltered), and Availability (data accessible when needed). Data governance is the framework of policies, roles and controls ensuring data is managed accurately, securely, and in compliance throughout its lifecycle.
What this deck covers
The Business Management and Strategy deck follows the ICAP CA Business Management and Strategy syllabus — 6 chapters and 15 topics — so questions land on material that is genuinely examinable rather than trivia around it. That works out to roughly 8.3 cards per chapter.
Answers are written to be recallable, not just readable — averaging about 207 characters, which is long enough to carry the reasoning and short enough to say out loud.
A deck like this earns its keep on the second and third pass. Read the syllabus first so you know the shape of the subject, then use the cards to find the specific facts that have not stuck.
Business Management and Strategy flashcards FAQ
How many Business Management and Strategy flashcards are in this ICAP CA deck?
50 cards. This page previews 24 of them, sampled evenly across the deck so you can judge the difficulty before installing anything.
Are these ICAP CA flashcards free?
Yes. The preview here is free to read with no signup, and the full 50-card deck is free inside the Examius app.
What do the Business Management and Strategy cards cover?
They follow the ICAP CA Business Management and Strategy syllabus — 6 chapters and 15 topics — so the questions track what is actually examinable.
How should I use these flashcards?
Read the syllabus first so you know the shape of the subject, then drill the deck. Examius schedules each card with spaced repetition, so cards you keep missing come back sooner and ones you know drift further apart.