Podcast
Questions and Answers
Which committee is primarily responsible for monitoring the conformance dimension of corporate governance?
Which committee is primarily responsible for monitoring the conformance dimension of corporate governance?
- Risk management committee
- Remuneration committee
- Audit committee (correct)
- Nominations committee
What is a primary aim of good corporate governance?
What is a primary aim of good corporate governance?
- To reduce the role of the Board of Directors in decision-making
- To enhance company performance and increase access to outside capital (correct)
- To prioritize employee interests over shareholders
- To minimize access to outside capital
Which of the following is an example of a sound internal control practice that supports good corporate governance?
Which of the following is an example of a sound internal control practice that supports good corporate governance?
- Allowing conflicts of interest to encourage diverse perspectives
- Consolidating all functions into a single department
- Avoiding compliance with corporate disclosure requirements to maintain confidentiality
- Establishing an Audit Committee (correct)
From a legal standpoint, to whom are the directors of a company primarily accountable?
From a legal standpoint, to whom are the directors of a company primarily accountable?
What is the role of independent non-executive directors in ensuring good corporate governance?
What is the role of independent non-executive directors in ensuring good corporate governance?
What is the main purpose of regulatory requirements and standards in corporate governance?
What is the main purpose of regulatory requirements and standards in corporate governance?
How does good corporate governance contribute to sustainable economic development?
How does good corporate governance contribute to sustainable economic development?
What is the dual responsibility held by company employees in relation to corporate governance?
What is the dual responsibility held by company employees in relation to corporate governance?
Which statement best describes the relationship between corporate governance and IT governance?
Which statement best describes the relationship between corporate governance and IT governance?
A company's senior management is responsible for ensuring decision-making accountabilities are shared to:
A company's senior management is responsible for ensuring decision-making accountabilities are shared to:
What is the most likely long-term consequence of a company offering compensation for a worker's death due to their negligence, despite company regulations?
What is the most likely long-term consequence of a company offering compensation for a worker's death due to their negligence, despite company regulations?
What is the primary objective of IT governance within an enterprise?
What is the primary objective of IT governance within an enterprise?
What is a key component for effective IT governance?
What is a key component for effective IT governance?
In a situation where a worker dies due to being drunk on duty, what action would best balance the company's need to maintain its image, ensure productivity, and address worker concerns?
In a situation where a worker dies due to being drunk on duty, what action would best balance the company's need to maintain its image, ensure productivity, and address worker concerns?
What does the term 'governance' essentially refer to in the context of organizational management?
What does the term 'governance' essentially refer to in the context of organizational management?
Why is it important to ensure that IT governance provides measurable benefits?
Why is it important to ensure that IT governance provides measurable benefits?
Why is it important for enterprises to operate within acceptable risk parameters?
Why is it important for enterprises to operate within acceptable risk parameters?
Which of the following is a potential benefit of implementing or improving IT governance?
Which of the following is a potential benefit of implementing or improving IT governance?
An organization is implementing IT governance. Which outcome aligns best with the objectives of governance?
An organization is implementing IT governance. Which outcome aligns best with the objectives of governance?
In the context of a company's response to an employee's death due to negligence, what is a 'bad precedent'?
In the context of a company's response to an employee's death due to negligence, what is a 'bad precedent'?
Why is agility to change considered essential for enterprises today?
Why is agility to change considered essential for enterprises today?
What is the role of the board of directors in IT governance?
What is the role of the board of directors in IT governance?
What outcome is most likely to arise from a significant loss of trust between workers and management, regardless of the specific incident that caused it?
What outcome is most likely to arise from a significant loss of trust between workers and management, regardless of the specific incident that caused it?
What is the expected impact after implementing IT governance?
What is the expected impact after implementing IT governance?
Which activity focuses on understanding the present difficulties and suggesting enhancements?
Which activity focuses on understanding the present difficulties and suggesting enhancements?
What is the PRIMARY purpose of defining target IT capabilities in the context of IT strategy?
What is the PRIMARY purpose of defining target IT capabilities in the context of IT strategy?
When conducting a gap analysis, what is the PRIMARY objective in relation to assets?
When conducting a gap analysis, what is the PRIMARY objective in relation to assets?
What is the significance of involving relevant stakeholders when defining the strategic plan and road map?
What is the significance of involving relevant stakeholders when defining the strategic plan and road map?
Which of the following metrics can be used to evaluate the success of aligning IT and business strategy?
Which of the following metrics can be used to evaluate the success of aligning IT and business strategy?
What key element should be included when defining the strategic plan and road map for IT?
What key element should be included when defining the strategic plan and road map for IT?
Why is it important to communicate the IT strategy and direction to stakeholders?
Why is it important to communicate the IT strategy and direction to stakeholders?
What should an organization consider when identifying issues and developing recommendations for IT improvement?
What should an organization consider when identifying issues and developing recommendations for IT improvement?
Which practice primarily focuses on ensuring that an organization can maintain service availability and performance during a disruptive incident?
Which practice primarily focuses on ensuring that an organization can maintain service availability and performance during a disruptive incident?
What is the main objective of service validation and testing within an ITIL 4 framework?
What is the main objective of service validation and testing within an ITIL 4 framework?
What is the primary goal of deployment management practices?
What is the primary goal of deployment management practices?
Which practice involves setting business targets for service performance and ensuring that delivery is properly assessed?
Which practice involves setting business targets for service performance and ensuring that delivery is properly assessed?
An organization wants to improve user satisfaction by efficiently handling routine requests such as password resets and access requests. Which ITIL 4 practice should they focus on?
An organization wants to improve user satisfaction by efficiently handling routine requests such as password resets and access requests. Which ITIL 4 practice should they focus on?
Which practice is responsible for capturing demand for incident resolution and service requests, while also serving as a central communication point for users?
Which practice is responsible for capturing demand for incident resolution and service requests, while also serving as a central communication point for users?
An organization is planning to launch a new online service. Which ITIL 4 practice should they use to ensure the service meets customer needs and can be successfully delivered?
An organization is planning to launch a new online service. Which ITIL 4 practice should they use to ensure the service meets customer needs and can be successfully delivered?
Which ITIL 4 practice focuses on overseeing the technologies that are deployed internally and by service providers?
Which ITIL 4 practice focuses on overseeing the technologies that are deployed internally and by service providers?
Which of the following reflects how IT deployment can strategically impact an organization?
Which of the following reflects how IT deployment can strategically impact an organization?
What is the primary reason for senior management to view IT from a strategic perspective?
What is the primary reason for senior management to view IT from a strategic perspective?
What is the key objective of aligning IT strategy with business strategy?
What is the key objective of aligning IT strategy with business strategy?
In the context of digital transformation, why has Information and Technology (I&T) become crucial for enterprises?
In the context of digital transformation, why has Information and Technology (I&T) become crucial for enterprises?
What is the main difference between traditional IT management and Enterprise Governance of Information and Technology (EGIT)?
What is the main difference between traditional IT management and Enterprise Governance of Information and Technology (EGIT)?
What is the primary focus of Enterprise Governance of Information and Technology (EGIT)?
What is the primary focus of Enterprise Governance of Information and Technology (EGIT)?
How does Enterprise Governance of Information and Technology (EGIT) contribute to value creation from IT investments?
How does Enterprise Governance of Information and Technology (EGIT) contribute to value creation from IT investments?
What is a key aspect of EGIT that distinguishes it from previous approaches to IT governance?
What is a key aspect of EGIT that distinguishes it from previous approaches to IT governance?
Flashcards
Worker's negligence
Worker's negligence
A situation where an employee fails to follow safety rules, leading to an accident.
Company responsibility
Company responsibility
The obligation of a company to protect its workers and compensate for accidents.
Impact of strikes
Impact of strikes
The potential negative effects on a company's image and productivity due to worker actions.
Compensation precedent
Compensation precedent
Signup and view all the flashcards
Alternative employment proposal
Alternative employment proposal
Signup and view all the flashcards
Governance definition
Governance definition
Signup and view all the flashcards
IT in governance
IT in governance
Signup and view all the flashcards
Stakeholder value
Stakeholder value
Signup and view all the flashcards
IT Governance
IT Governance
Signup and view all the flashcards
Corporate Governance
Corporate Governance
Signup and view all the flashcards
Stakeholder Needs
Stakeholder Needs
Signup and view all the flashcards
Decision-Making Rights
Decision-Making Rights
Signup and view all the flashcards
Accountability in IT
Accountability in IT
Signup and view all the flashcards
IT Management Effectiveness
IT Management Effectiveness
Signup and view all the flashcards
Measurable Benefits of IT Governance
Measurable Benefits of IT Governance
Signup and view all the flashcards
IT Governance Objectives
IT Governance Objectives
Signup and view all the flashcards
Roles of the Board of Directors
Roles of the Board of Directors
Signup and view all the flashcards
Audit Committee
Audit Committee
Signup and view all the flashcards
Sarbanes-Oxley Act
Sarbanes-Oxley Act
Signup and view all the flashcards
Conformance Dimension
Conformance Dimension
Signup and view all the flashcards
Independence in Governance
Independence in Governance
Signup and view all the flashcards
Internal Control Practices
Internal Control Practices
Signup and view all the flashcards
Stakeholder Accountability
Stakeholder Accountability
Signup and view all the flashcards
Target IT Capabilities
Target IT Capabilities
Signup and view all the flashcards
Risk Management
Risk Management
Signup and view all the flashcards
Gap Analysis
Gap Analysis
Signup and view all the flashcards
Strategic Plan
Strategic Plan
Signup and view all the flashcards
IT Strategy Communication
IT Strategy Communication
Signup and view all the flashcards
Financial Impact Assessment
Financial Impact Assessment
Signup and view all the flashcards
Critical Success Factors
Critical Success Factors
Signup and view all the flashcards
Sourcing Strategy
Sourcing Strategy
Signup and view all the flashcards
Stakeholder Satisfaction
Stakeholder Satisfaction
Signup and view all the flashcards
IT transformation
IT transformation
Signup and view all the flashcards
Real-time controls
Real-time controls
Signup and view all the flashcards
Business process re-engineering
Business process re-engineering
Signup and view all the flashcards
Strategic IT perspective
Strategic IT perspective
Signup and view all the flashcards
IT strategy alignment
IT strategy alignment
Signup and view all the flashcards
EGIT
EGIT
Signup and view all the flashcards
IT-enabled investments
IT-enabled investments
Signup and view all the flashcards
Risk management in IT
Risk management in IT
Signup and view all the flashcards
Service Configuration Management
Service Configuration Management
Signup and view all the flashcards
Service Continuity Management
Service Continuity Management
Signup and view all the flashcards
Service Design
Service Design
Signup and view all the flashcards
Service Desk
Service Desk
Signup and view all the flashcards
Service Level Management
Service Level Management
Signup and view all the flashcards
Service Request Management
Service Request Management
Signup and view all the flashcards
Service Validation and Testing
Service Validation and Testing
Signup and view all the flashcards
Deployment Management
Deployment Management
Signup and view all the flashcards
Study Notes
Worker Death and Company Responsibility
- Company may not be liable for worker's death if drunk during duty.
- Worker's actions broke company rules.
- Strike by other workers could damage company image and productivity.
- Trust between workers and management would likely be lost.
- Recommending compensation creates a bad precedent for future cases and violates safety regulations.
- Management may not be obligated to compensate for worker's negligence.
- Alternative employment for the worker's family and stricter safety measures are recommended for better management of the situation.
Corporate Governance and IT Strategy
- Enterprises aim to deliver value to stakeholders.
- Successful operations include responsible resource utilization within acceptable value and risk parameters.
- Rapid changes require agility and direction setting from senior management.
- Governance involves accountability distribution within an enterprise.
- Corporate governance involves roles like Chairman, CEO, Board of Directors, and Board Committees, focusing on Controls, Assurance, and Risk Management.
- Compliance is ensured through audit committees and regulatory requirements (e.g., Sarbanes-Oxley Act, SEBI Clause 49).
- Good corporate governance promotes sustainable development, shareholder interests, and efficient corporate information needs.
- Internal controls include segregation of functions, conflict of interest elimination, audit committees, risk management, and compliance.
- Directors are accountable to shareholders for their actions and actions of employees.
- IT is crucial for meeting stakeholder information needs concerning enterprise activities and objectives.
- IT governance is driven by corporate governance.
- IT governance system directs and controls IT activities to achieve business objectives.
IT Governance
- IT governance, like corporate governance, focuses on achieving stakeholder needs but with a specific IT focus.
- IT governance monitors management's evaluation, direction, and monitoring activities to ensure IT's effectiveness, accountability, and compliance.
- IT governance aims to achieve strategic IT impacts.
- Clear decision-making processes and monitoring are needed for desired behaviors and outcomes.
- IT governance is a subset of enterprise governance.
- IT governance must provide measurable benefits to emphasize importance to boards.
Benefits of IT Governance
- IT governance benefits vary by enterprise environment.
- Benefits include increased value delivery, improved user satisfaction, and enhanced business agility through IT.
- IT deployment transforms business processes and structures.
- IT supports business processes, and accurate and timely IT deployment is crucial for objectives achievement.
- Advanced technology allows real-time control process monitoring.
- IT enables organizational restructuring and business process re-engineering.
- Senior management should utilize IT strategically and innovatively, aligning IT strategy with business strategy.
Enterprise Governance of Information and Technology (EGIT)
- EGIT is crucial for digital transformation through I&T support and growth.
- Boards and management now must focus intensely on I&T decisions.
- EGIT defines and embeds processes for maximizing IT-enabled investment value.
- EGIT is an integral part of enterprise governance focused on IT performance and risk management.
IT Strategy Development
- Define target IT capabilities based on understanding of the enterprise environment, business process assessment, and consideration of emerging technologies.
- Conduct a gap analysis to identify differences between current and target IT environments.
- Create a strategic plan aligned with enterprise goals, outlining how IT supports investment programs, business processes, and assets.
- Communicate the IT strategy to stakeholders and users for successful alignment of IT and business strategy.
- Successful alignment is measured by reviewing support for strategic goals, stakeholder satisfaction, and IT-to-business value mappings.
ITIL 4 Technical Management Practices
- Service Configuration Management: ensures accurate service configuration information.
- Service Continuity Management: creates organizational resilience against disruptions and ensures service availability.
- Service Design: designs products and services based on organizational purpose and effectiveness.
- Service Desk: captures incident demand and service requests, serving as a contact point.
- Service Level Management: sets service performance targets and enables assessment and improvement.
- Service Request Management: handles user-initiated requests efficiently.
- Service Validation and Testing: ensures new or changed products and services meet requirements, and measuring value based on customers, objectives, and regulations.
- Deployment Management: moves hardware, software, documentation, and processes from production to live environments or testing/staging.
- Infrastructure and Platform Management: manages infrastructure and platforms, monitoring internal and external technologies.
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
Related Documents
Description
Test your understanding of corporate governance, focusing on monitoring committees, internal controls, and directors' accountability. Explore the roles of independent directors and the impact of IT governance. Assess your knowledge of how governance contributes to sustainable economic development and shared decision-making.
