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do you still get marks if you use a different model and give good reasoning? i’m upset now :/
At first i think the AAA model should be used for Q4
However I changed my mind and used the Tuker’s model as the question says “construct an ethical case for Mahmood whether tell an external source” so I think the question is asking for assessing THIS solution rather than listing alternative solutions and choosing the best one from them.
So I used the five questions to assess the given solution.@dani88 you will get marks as long as your arguments were right like not some nonsense stuff, models shouldn’t matter that much in P1.
@dani88 i did not use any model in 4 b) either. I wrote about unclear regulations and whether company was in any breach of laws, effect on employees and main theme was customers being deceived by being sold a mix of high and inferior meat and being charged for High quality meat.
As long as points are structured and relevant you will get marks 🙂 I only used some models to help me construct an answer otherwise I would have struggled but they were not necessary
I think overall the paper was not that difficult but had a lot to answer/write about.
It also concentrated a lot on risks, such as risk audit, financial risk, business risk, risk awareness, risk attitude and appetite, all terms which you need to know.
There were no questions on internal controls as such and also very limited questions on Board of Directors etc (if there were any??)Re Q4 on construct the case for Mahmood I used the reasoning for as being the correct thing to acting as a whistlebower although he could face the consequences for that. The Company was trading unethically by declaring high quality meat when in fact it wasn’t…. so on
Re Q1 on Corporate Code of ethics and Institutional Intervention I answered this okish but would have preferred if I had more time to reword my answers better.
Good luck to everyone!
ok that makes me feel better thanks. let’s hope that we all passed.. good luck to all.. let’s enjoy summer now 🙂
Easiest paper of P1 since last 3 attempts.. Good luck to all and enjoy your summer holidays.
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I attempted q2, I was wondering did anyone of you guys explained risk apeptite of BOB in the way I did.
I firstly explained risk appetite and tried to analyse BOB risk appetite in terms of risk capacity and risk attitude.
I said its like that BOB will only take medium risk because:
a) Risk attitude: as he is wants to have return which will be high enough so that he can live his life comfortably after his retirement, this suggest he would not very risk seeking as he wants a comfortable living after retirement but not as much risk which might have high chance he loose all his fortune.
b) RIsk capacity: it is likely he has a risk capacity as he might have inherited huge fortune, which will increase his risk capacity.
So i said probably he will take modertate risk.
Did anyone else wrote in similar lines?
I mentioned risk seeking and averse, as well as risk neutral. It didn’t occur to me to advise what risk appetite Bob should adopt! I assumed it was up to the individual.
I didn’t like this paper at all. I was really grasping for straws at times. In question 4, when constructing an ethical case for reporting to the media, I mentioned that although it would lead to loss of jobs at the company, the jobs of the competitors would be more secure! Also, I said by producing the low quality meat in large volumes might involve poor treatment of animals! I mentioned the unfairness to customers too, that was the only sensible comment I could think of.
@aradmani same here even i did that too 🙂 and my Q2 and Q4 were better… Q1 was hell but managed to do that 🙂
By the way, what are the correct three procedures for undertaking a risk audit? There’s no mention of it in my bpp book, as far as I can see. I forgot to read the technical articles!
In my answer, I basically said stage one was analysing the risks, stage two comparing risks against some criteria, stage three is the reporting. I vaguely remember reading that an environmental audit follows this kind of format, so I’m hoping risk is similar.
still wondering why people are talking about AAA or tuckman model ? The examiner wants a different thing. A fresh air is needed.
Oh, I misremembered, I thought the question asked for 3 stages. In any case, my answer was close enough to gain some marks, I hope!
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The paper was manageable. More high level thinking than just book knowledge. hoping to get a pass. thank you open tuition
Question 1 re Corporate Ethics – this asked purposes which is NOT Integrity, Objectivity etc
It is (1) to convey the ethical values…. (2) to control irregular behaviour…….. (3) to be stumulant to investors……….
I am afraid you went off the track with Integrity etc..
sorry………. I just gave you what the answer should be. Anyway good luck just the same.
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I think that it is the mist close to my answer too , because if he want us to use models he will say in the question use the proper model , but he left it so i think it will be ethical and profession isues
Found the paper quite difficult. I answered it all but think Q1 was difficult as it mostly ethics.
I didn’t use AAA or Tuckers for Q4 but I can see why people did. I just stated ethical and professional issues like dinaattia did.
Hopefully did enough to scrape a pass.
Did anyone attempt Q3? Which term did we have to explain in part (b) – environmental audit or environmental reporting?
@joevassallo:
For the corporate code of ethics, I mentioned identification of stakeholders, it conveys ethical values and it details what should happen in certain situations (I gave examples related to employees, suppliers, customers, investors and social responsibility). Do you think they are relevant?The second part of this requirement (where we had to discuss how Xaxa may reconsider ths marketing strategy) was the hardest on Q1 for me….any ideas what we should have put down?
Overall pretty disappointed, it seemed that 80% of what was examined was only 10% of the material.
As has been mentioned before I think on overall CG there were 8 marks available for something I learned in the first five minutes of studying for the paper….
Also a huge part of my study text (and lectures) was on internal controls….not examined…I also appear to have messed up risk audit which is a bit annoying.
Fully expecting to sit this exam again in December, but well done to those that found it manageable or easy.
Question 4. For the ethical case I used Deontological ethics and its three maxims.
Question 2 business ethics I define it as the general risk in undertaking any business venture and gave example. Financial risk is also business risk as well but risk in terms of being unprofitable. In question 1 I suffered the question for 11 marks. I was pressed for time but I believe I managed a pass
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