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CIPS-L5M2-MSCR CIPS Level 5 Managing Supply Chain Risk history |

CIPS-L5M2-MSCR history - CIPS Level 5 Managing Supply Chain Risk Updated: 2024

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Exam Code: CIPS-L5M2-MSCR CIPS Level 5 Managing Supply Chain Risk history January 2024 by team
CIPS Level 5 Managing Supply Chain Risk
CIPS Managing history

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CIPS-L5M2-MSCR CIPS Level 5 Managing Supply Chain Risk
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CIPS-L5M5-ADPSC CIPS Level 5 Advanced Diploma in Procurement and Supply Core

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Question: 29
Leo LLP is a company which sources materials internationally, and then sells these on nationally at a small margin.
Leo LLP has noted that there is a risk of exchange rate fluctuations making their purchases unviable. The CFO has
declared that the only way to mitigate this risk is via hedging and that they should look at price fixing. is this correct?
A. yes- hedging is the only solution to mitigate the risk of adverse price movements
B. yes- this reduces the risk to 0
C. no- Leo LLP could do nothing and increase its prices instead
D. no- Leo LLP can take out insurance to mitigate this risk
Answer: C
The correct answer is 3 'no Leo LLP could do nothing and increase its prices instead'. Firstly the CFO is wrong. There
are other ways to mitigate this risk than hedging- hedging isn't the ONLY thing you can do. Therefore you
automatically need to discount options that begin with yes. Then looking at the options that begin with no, insurance
isn't going to help in this situtation. Therefore, by process of elimination you will be left with 'no Leo LLP could do
nothing and increase its prices instead'.
This question is taken from p.95 - there is a section here describing alternatives to hedging. When dealing with
currency fluctuations, an alternative to fixing a price is to build in a margin on your own prices. This margin acts as a
buffer for if prices go up- your price can remain the same. Other alternatives to hedging suggested by CIPS include;
negotiating long term contracts, buying out the supplier and ingredient substitution
Question: 30
Which of the following will you put into box 3?
A. hazard
B. financial
C. strategic (Correct)
D. operational
Answer: C
An aging workforce is a strategic risk for the business.
Question: 31
Which of the following stages would come first within a risk assessment?
A. evaluate risk
B. treat risk
C. monitor risk
D. analyse risk
Answer: D
analyse is the correct answer. The full process is: establish context- identify- analyse - evaluate - treat - monitor and
review. This is from p.122
Question: 32
Which of the following will you put into box 2?
A. transfer
B. treat
C. tolerate
D. terminate
Answer: B
The correct answers are as follows:
Description automatically generated
Cashflow issues can lead to serious financial problems and the company going bust.
Therefore this risk must be treated.
Question: 33
Which of the following are factors which can lead to a supplier becoming insolvent? Select THREE
A. fraudulent activity
B. attrition of key employees
C. uncontrolled expenditure
D. increased market share
E. a high financial ratio
Answer: A,B,C
1 2 and 3 are factors which can lead to a supplier becoming insolvent. 4- increased market share is a good thing, as it
indicates the supplier is doing better than their rivals. A high financial ratio is also a good thing as it shows they have
more assets than debt - so this is not a sign of insolvency. See p.24 for 'Supplier Risks'
Question: 34
A black swan event is what type of occurrence?
A. an occurrence with a good outcome
B. an occurrence with a negative outcome
C. a common occurrence
D. an unusual occurrence
Answer: D
A black swan event is an unusual occurrence - something that is rare. See p.124
Question: 35
Which of the following statements about binomial distribution are true? Select THREE
A. there are only two outcomes
B. they are based on continuous events
C. there is only one outcome per event
D. each trial has the same probability
E. the events of one trial will impact on the next one
Answer: A,C,D
1, 3 and 4 are the correct options. Binomial is based on discreate events not continuous and it assumes the events of
each trial are independent of one another. This YouTube video explains it all perfectly using the chance that an ice-
cream cone is broken. It's a nice memorable example to help you remember what binomial distribution is and how it
works: - it's a very memorable example and really helped me. You
can also see more info in the cips textbook p.131
Question: 36
Which of the following are key areas of ISO 26000 Social Responsibility? Select THREE.
A. organisational governance
B. quality management
C. human rights
D. consumer issues
E. efficient systems
Answer: A,C,D
1 3 and 4 are the correct answers. There are 7 key areas that ISO 26000 focuses on. As well as these three, there is also
labour practices, the environment, fair operating practices and community involvement. See p. 51 of the study guide.
ISOs are a popular exam topic so do revise these before the exam.
Question: 37
In probability theory, the chances of a coin landing on heads would be expressed in what way?
A. 50%
B. one half
C. 0.5
D. 50-50
Answer: C
Question: 38
A financial instrument used by airlines to fix the price of fuel over a period of time is known commonly as a what?
A. commodity
B. swap
C. exchange
D. hedge
Answer: B
This is a 'swap' and is explained on p.94. This is a type of 'hedging' but there is no such thing as 'a hedge'. For a more
in-depth look at Swaps see:
Question: 39
Which of the following FIDIC Contracts would be suitable for a contract for offshore wind projects?
A. Construction Contract
B. Measured Term Contract
C. Minor Works Contract
D. Yellow Book Contract
Answer: D
This is the Yellow Book. This is briefly mentioned on p.74 and can often be missed by students. There is a question in
the exam about which type of FIDIC contract can be used for construction projects and this is NOT explained in the
study guide - so here is a link to FIDIC so you can revise this before the exam:
Question: 40
Which of the following will you put into box 6?
A. audit
B. monitor
C. insurance
D. dual sourcing
Answer: D
The correct answers are as follows:
Description automatically generated with low confidence

CIPS Managing history - BingNews Search results CIPS Managing history - BingNews Human Relations Movement: How It Changed Management

The first management theory, Frederick Taylor’s scientific management theory, dates back to 1911. From there, many others were born, including Max Weber’s bureaucratic theory and Mary Parker Follett’s theory of organizational management. These varied theories ultimately spawned the human relations movement, representing a crucial shift in management that encourages more personal oversight. Here are the basics of the movement and how it affected today’s management style.

Other management theories to investigate include Peter Drucker’s management theory and Henri Fayol’s principles of administrative management.

Who started the human relations movement?

The human relations movement was born from the Hawthorne studies, which Elton Mayo and Fritz Roethlisberger conducted from 1924 to 1932. Initially, the studies focused on how physical conditions, like lighting and other aspects of your work environment, affected workers’ productivity. However, the studies found that one of the most significant factors influencing employee performance was whether they were being observed by others.

In other words, relationships between workers and management affect employee efficiency. If workers are being analyzed by their boss, they will be more motivated to do well – a phenomenon known as the Hawthorne effect.

Being part of a group and having a specific responsibility in that group also increased employees’ motivation. Workers want to feel that their personal goals and development goals align with their team’s overall goals and that their work is valuable.

Human relations vs. human resources

Some, if not most, employee management styles are predicated on the tenets of the human relations movement. All employee management styles require the use of human resources (HR), not to mention a full-time HR person or a department devoted to HR. This distinction raises the question: How do human relations and human resources differ?

Human relations

Human relations encompass all interactions between employees and your company. That means how your employees interact with you, the work environment, other employees, clients and anyone they come into contact with in the course of their duties. Human relations aims to ensure your employees are as happy and productive – not the latter at the expense of the former – as possible.

Human resources

Human resources somewhat disregards interpersonal interactions and treats your employees primarily as resources. An HR manager or outsourced HR firm may view your team as largely another cog in your machine while occasionally thinking about individual members’ wants and needs. This distinction stems partly from the fact that your HR team may be responsible for minimizing your risk, a task sometimes at odds with boosting employee morale.

Human relations concerns employee happiness, whereas human resources centers around your business.

Theory X and Theory Y

Management professor Douglas McGregor later created Theory X and Theory Y, two opposing perceptions of employee motivation. Theory Y shares similarities with the human relations movement, noting that workers can be trusted and are naturally motivated and efficient. The two theories made for crucial additions to management studies, and the human relations movement progressed by aligning individual needs with organizational needs.

Here are the basics of the two management theories, according to McGregor’s 1960 book, The Human Side of Enterprise:

Theory X: Negative outlook on workers

  1. Management is responsible for organizing company components in the interest of economic ends.
  2. Managers should direct workers’ efforts, motivate them, control their actions and modify their behavior to suit organizational needs.
  3. Managers must persuade, reward, punish and control workers to stop passiveness and resistance.

Theory Y: Positive outlook on workers

  1. Management is responsible for organizing company components in the interest of economic ends.
  2. Passiveness or resistance to organizational needs develops with experience in organizations.
  3. Motivation, potential for development, capacity for assuming responsibility and readiness to direct behavior toward organizational goals are naturally instilled in people.
  4. Above all, management should focus on creating a system where workers can achieve their own goals in line with company objectives.

Additionally, American psychologist Abraham Maslow developed a theory of hierarchical needs, which McGregor referred to in his book, to indicate employee incentives to perform well. From lowest to highest in the hierarchy, those are:

  • Physiological needs
  • Safety needs
  • Social needs
  • Ego needs 
  • Self-fulfillment needs 

Good managers understand these needs and the link between Theory Y and human relations and lead their teams in accordance with both theories.

What were the results of the human relations movement?

The human relations movement was a crucial event in management history and a significant contribution to today’s leadership types. The behavioral sciences helped managers and theorists understand how to increase productivity by ditching the primary focus on organizations over their workers. 

Contemporary theories, like the contingency theory and the systems theory, focus more on the importance and effect of every individual in a company and how they can achieve their own goals while benefiting their organization.

How can human relations management improve employee performance?

Some aspects of human relations management can be applied to the modern workplace. There are a few positive actions businesses can take to improve employee performance.

  1. Treat work naturally. Encourage employees to treat work as naturally as they would resting or playing. After all, this is one of the central points of human relationship management: Your team members exercise their skills in a professional environment. The more employees can treat work as a natural state, the easier this will become.
  2. Share the big picture. Share the overall theme and big picture of the job with employees. Everyone wants to feel valued and that their work contributes to greater success. When employees see how they fit into the big picture, they will be more motivated.
  3. Give employees more power. Everyone wants to feel independent, and nobody wants to feel like someone is constantly looking over their shoulder. Therefore, push employees to innovate and make independent decisions when appropriate.
  4. Train employees and develop their skills accordingly. Employees who feel the company invests in them are more likely to perform better. Encourage employee professional development, and increase your employees’ freedom and responsibilities as they grow.
  5. Reward success. Nobody wants to feel like their work is being ignored. Therefore, reward employees for their successes and ensure they know their hard work is being noticed. This will encourage others to work hard to achieve company goals as well.

Money isn’t enough to motivate your employees. Consider rewarding employee success with flexible work policies, public recognition and increased decision-making power.

How can I learn more about human relations management?

Employees look to managers and leaders for guidance and assistance. For this reason, striving for self-improvement, improving your leadership skills and deepening your understanding of human capital management when you’re in a leadership position are crucial.

Consider learning more about human relations management by taking online courses, such as the human relations management course offered by Coursera and HRCI Learning

Additionally, organizations like the American Management Association offer in-person seminars as well as online educational materials. And HR software providers can be excellent resources for human relationship management education. For example, the best HR software solutions grant you access to self-guided learning platforms through which you can build your management skills. 

Relating to your employees

You’re managing and leading your team well if you’re guiding everyone toward meeting your organizational goals while treating your employees as people. This is the essence of the human relations theory, and it’s also why PTO policies, prioritizing a positive work-life balance and providing excellent employee benefits are such big HR topics. As a leader, you have the power to shape your employees’ lives, and human relations means shaping them for the better.

Mon, 11 Dec 2023 10:00:00 -0600 en text/html
Natural History and Management of HFE-hemochromatosis

Eng K. Gan, M.B.B.S.1,2 , Lawrie W. Powell, M.B.B.S., M.D., Ph.D., F.R.A.C.P., F.R.C.P.3,4 and John K. Olynyk, B.Med.Sc., M.B.B.S., M.D., F.R.A.C.P.1,2,5,6

1School of Medicine and Pharmacology, University of Western Australia, Nedlands; 2Department of Gastroenterology, Fremantle Hospital, Fremantle, Western Australia; 3Discipline of Medicine, University of Queensland, Brisbane, Queensland; 4Royal Brisbane and Women's Hospital, Brisbane, Queensland; 5Western Australian Institute of Medical Research, Perth, Western Australia; 6Curtin Health Innovation Research Institute, Curtin University, Bentley, Western Australia, Australia.

Address for correspondence and reprint requests
John K. Olynyk, B.Med.Sc., M.B.B.S., M.D., F.R.A.C.P., Professor, Department of Gastroenterology, Fremantle Hospital, P.O. Box 480, Fremantle 6959, Western Australia, Australia (e-mail:

Mon, 01 Jan 2024 10:00:00 -0600 en text/html
Commentary: Don’t forget the lessons of history

I once heard an historical reenactor in Colonial Williamsburg say this: We should study history because we are imperfect, and because we are imperfect, we will make mistakes. By studying history, we can increase the likelihood that the mistakes we make will be new ones.

That’s the whole point. That is also why history should not be weaponized. The use of history as a weapon can be difficult to spot for those who don’t know much history because it usually comes in the form of cherry picking and tends to be written by activists and advocates of various causes. Genuine historians and biographers make an honest attempt to treat their subjects objectively and do not try to steer the reader to some predetermined judgement or conclusion.

There has been a trend in recent years to denigrate America’s founding generation, particularly those who were slaveowners. They are commonly referred to as hypocrites, preaching equality and liberty while literally owning other human beings and depriving them of the very human rights that they had declared for themselves. That is a completely fair criticism, but I’m not sure that hypocrisy is the right word. When we use that word, we usually mean someone who says one thing in public but does something else in private. Slave ownership was done openly. It wasn’t a secret.

As both a teacher and a writer, I have long struggled with the paradoxical behavior of Jefferson, Henry, Madison, Washington and others. It was the great contradiction in their lives, and they knew it. They also knew that slavery’s days were numbered. They knew that slavery was a moral wrong and that it was an anachronism that would eventually be extinguished.

In Thomas Jefferson’s “Notes on the State of Virginia,” in Query 14, he described what he perceived as the inferiority of the Africans to the white race. His words were the very definition of racism. Yet further, in Query 18, he condemned the institution of slavery and longed for its abolition. One of his other famous comments was, “But as it is, we have the wolf by the ear, and we can neither hold him, nor safely let him go. Justice is one scale, and self-preservation on the other.” After the treaty of Paris in 1783, when Jefferson’s attempt to include the abolition of slavery as a part of the admission requirements for new states failed by a single vote, Jefferson’s lament was that “the fate of millions yet unborn hung on the tongue of one man, and heaven was silent in that awful moment.”

St. George Tucker, a Williamsburg slaveowner and the second professor of law at William & Mary, in 1796 wrote “A Dissertation on Slavery,” and in that work he wrote a ringing condemnation of slavery in the first part, proposed a formula for its gradual abolition in the second part, but then in the final part he suggested that the former enslaved should not expect to enjoy the full benefits of citizenship.

One of the great historians and biographers of the revolutionary generation is Joseph Ellis, and his famous biography of Jefferson is appropriately titled, “American Sphinx.” In a more recent volume about the founders, he said something that for me made a great deal of sense, and it has helped me navigate the paradoxical behavior of so many in the colonial era. He said that for many of the founders, slavery was seen as an “inoperable cancer,” one that could not be excised from society without destroying the infant nation in its cradle.

Ellis is probably right about that. Getting all 13 states on board for not only a revolution but also an entirely new form of government was already going to be a Herculean task. Attempting to get rid of slavery at the same time would have been a deal breaker, and so they left it to future generations to resolve.

One of my strongest convictions is that making premature moral judgements gets in the way of understanding. Doing so puts things in the wrong order. It’s important to first get inside the heads of the people in that generation and try to understand what made them tick. That’s not excuse making. What were the social, political, legal, economic, religious and scientific environments and contexts in which they lived and that influenced their thinking? Doing so takes time and effort, and after that, if one really wants to assign them to the dustbin of history, so be it. But you will at the same time be condemning a lot of people who changed the arc of history for the better.

Joseph B. Filko has taught economics and American government and lives in Williamsburg. He can be reached at

Wed, 03 Jan 2024 23:32:00 -0600 Joseph Filko en-US text/html
A New History of Management No result found, try new keyword!But this assumption is based on a presentist, monocultural, and generally limited view of management's past. A New History of Management disputes these foundations. By reassessing conventional ... Sun, 23 Jul 2023 04:36:00 -0500 A history of sewage management No result found, try new keyword!To delve into the history of sewage is to explore the evolution ... had a sophisticated water-management system that featured sanitation drainage and the first known water-flushing system latrine. Mon, 04 Dec 2023 08:26:00 -0600 en-us text/html Archival Management and Public History

The History Department is teaming up with the Graduate School of Library and Information Science at Simmons College to offer new M.A. minor fields in Archival Management and in Cultural Heritage/Public History. The GSLIS is ranked as one of the best in the country and was recently named Number One in Archives. The department is pleased to embark on this venture and to make these options available to our MA students.

The Minor Field in Archival Management

The Minor Field in Archival Management consists of two courses:

LIS 438. Introduction to Archival Methods and Services [offered in Fall and Spring]
The fundamentals of a wide range of archival activities, including appraisal, acquisitions, arrangement, description, reference, and access. Course includes a required 60-hour internship completed in an archives or manuscript repository

LIS 441. Appraisal of Archives and Manuscripts [offered in Spring]
Archival appraisal, or the assessment and evaluation of archival records to determine their continuing value for long-term retention, is one of the central and most critical challenges and responsibilities of the archivist. Building on the introductory exposure to appraisal offered in LIS 438, this course will focus on developing a theoretical framework for appraisal by introducing students to the strategies and methodologies of appraisal.

The Minor Field in Cultural Heritage/Public History

The Minor Field in Cultural Heritage/Public History consists of two courses:

LIS 531V. Concepts in Cultural Heritage Informatics [offered in Fall]
A foundation course for students who seek careers as information professionals in archives, museums, libraries, and other cultural heritage settings.

Sites of History (currently taught in CAS but crosslisted in GSLIS) [offered in Spring]
Examines the theory and practice of public history for those who plan to apply their academic historical studies in public settings.

Tue, 17 Oct 2023 09:00:00 -0500 en text/html
Collections management

Who can donate collections or specimens to the Museum?

The Museum may accept donations from members of the public, other scientists and other organisations. However, the items offered will need to meet the Museum’s collection development needs and must have been collected and exported/imported legally. Please see the ‘Donations’  section above and the following FAQs which explain this further. 

What kind of information do you want to know about my donation?

In order for our curatorial staff to assess your potential donation they will need to know what species/type of material you are looking to donate, how many items there are, where they are from, when they were collected and how they came to be in your possession. We will also ask if your collection has an index or finding aid (where relevant) and how the material is preserved. Images are very helpful to pass along. They will also ask for any accompanying paperwork you might have (see ‘what kind of paperwork will I need to provide with my donation’).

What kind of paperwork will I need to provide with my donation?

The Museum will require any evidence you have that could confirm that the material was collected, exported and imported legally and that you hold valid title to the items. This could include permits, receipts, letters, photographs, bills of sale, correspondence, but our curatorial staff will be able to help advise on this when discussing your donation.

Why am I asked to provide paperwork with my donation?

Documentation (like the items listed above) helps the Museum to remain compliant with national and international legislation and conventions, and abide by our governing legislation. If evidence is not forthcoming our staff may decide not to accept the donation.

What paperwork will I need to sign as part of my donation?

If you are donating to the Museum you will need to sign our Material Transfer Agreement to warrant that you hold title to the material you are donating, and that it was collected, exported and imported legally. This will need to be submitted in conjunction with supporting evidence (see ‘what kind of paperwork do I need to provide with my donation’)

How do I bequeath my collections to the Museum?

Please see the section entitled ‘Donations and bequests’  and for more information contact our Development team.

Will the Museum display my donation?

The Museum cannot guarantee that your donation will be displayed, but the value of your generous gift extends beyond public display. All items added to the collection will be available for the Natural History Museum and international researchers to use in science and engagement and will also be made available online through our data portal or library & archives discovery layer

Will the Museum keep my donation in the collections forever?

Once your donation becomes a part of the Museum’s collections the Museum will manage it under its collections policies. Our curators may decide to retain it in the permanent collection by registering it or share it with another institution through an exchange or transfer. It is also possible the material will be destructively sampled to produce new data and/or new material, meaning it may change its form. If the Museum decides to remove it from the collection this will be thoroughly considered and the decision recorded for posterity. See the ‘Disposal’ section above for additional information.

Will the Museum purchase my objects?

As a registered charity the Museum relies on donations and fieldwork to enhance its collections. As budgets are strictly limited the Museum is unlikely to be able to purchase your objects.

Can I place a restriction on my donation?

As a general rule the Museum does not accept donations with restrictions (such as permanent retention or a requirement for display). In most instances restrictions can hinder the work the Museum does and so the Museum may take the decision not to accept the donation if the restrictions impede our mission. 

Will the Museum identify my objects?

The Museum’s scientists do not offer a general identification service, nor do they provide identification services for the purpose of sale. However, the Angela Marmot Centre offer an Identification and Advisory service for material found in the British Isles. 

What are CITES and ABS, and why do I need to know about them?

These are important international conventions supported by legislation which govern how the Museum can manage and use certain wild flora and fauna (CITES) and genetic resources (CBD & ABS). You may be asked to provide additional paperwork if you are looking to donate material which falls under the remit of this legislation, but our curatorial staff will be able to advise where this might be relevant. Please see the sections above  for more information.

What is Due Diligence, and why is it important?

Due diligence is the process by which the Museum establishes where an item came from, when and how it left its country of origin and whether the Museum has permission to use the item as it wishes. It helps to ensure that the Museum has undertaken its legal and ethical checks before the items enter the Museum. Staff at the Museum will do this by assessing any information and documentation you might provide when considering your kind offer, see ‘what kind of paperwork will I need to provide, why am I asked to provide paperwork, and what kind of information do you want to know about my donation’ above.

Where can I find out more about the Museum’s Collections Policies?

The Museum has a framework of five collections policies which enable it to manage the collections: Introduction and Governance, Collections Development, Collections Access and Information, Collections Care and Human Remains. These can be found on the Museum’s Governance page with more information about Governance available in the section above. 

Fri, 22 Dec 2023 10:36:00 -0600 en text/html
Enrollment Management and Student Success

In 2014, the University further solidified its commitment to strategic enrollment management with the creation of the Division of Enrollment Management and Student Success (EMSS). A leader in and advocate for data-driven decision-making and student-centered services, the division was charged with creating and ensuring a culture of engaged University-wide partnerships to facilitate the design, implementation, and support of strategic and research-based enrollment and student success practices.

Today, the Vice President for Enrollment Management and Student Success serves as the University’s chief enrollment and retention officer, is a member of the President’s Executive Cabinet and Council of Academic Deans, and reports directly to the President. The Vice President provides leadership to the Offices of Admission, Bursar, Career Services, Enrollment Communication, Enrollment Operations and One Stop Services, Enrollment Research and Analysis, University Registrar, Student Financial Assistance, and the Student Success Center. EMSS collaborates across the University to lead and support the full student lifecycle from recruitment through graduation to lifelong success.

Wed, 06 Dec 2023 23:24:00 -0600 en text/html
Is Black art, Black history?

In celebration of Black History Month, UBS was proud to host a fireside chat with renowned art historian and UBS Americas Advisory Council member Dr. Mary Schmidt Campbell and UBS Art Advisory Specialist Matthew Newton as they explored themes of identity and culture in Black art. The live-streamed discussion featured Dr. Schmidt Campbell’s perspective on the works of Black artists from the Harlem Renaissance through the present day. The event was presented by UBS Americas Advisory Council and Multicultural Investors Segment.

Wed, 01 Mar 2023 22:35:00 -0600 en text/html
History & Legacy No result found, try new keyword!A rich legacy of transforming business education and shaping future business leaders. Kellogg is a global business school with a mission to educate, equip and inspire leaders who can build strong ... Sat, 02 Dec 2023 18:08:00 -0600 en text/html

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