Nestor and Maureen Are Partners in a Small Consulting Firm

question 36

Essay

Nestor and Maureen are partners in a small consulting firm located in the Republic of Bufflufia; the firm has six employees.For the last five years, the firm has focused on tax planning and tax return preparation.But, Nestor and Maureen are now interested in expanding the firm's scope of services.They are considering risk management consulting, fraud examination and business valuation as potential areas to expand the firm.They are sure at least three of their six employees would put effort into at least one of those three areas, but expanding the firm's services would require additional training for everyone.Use the COSO enterprise risk management framework to develop a risk management plan for the expansion.Then, use the elements of expectancy theory to suggest ways Nestor and Maureen can motivate their employees to put effort into the expansion.

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Definitions:

B. F. Skinner

An influential American psychologist known for his work in behaviorism, specifically the development of the theory of operant conditioning.

Wilhelm Wundt

Often considered the father of modern psychology, he established the first psychology laboratory at the University of Leipzig, marking the separation of psychology from philosophy.

Control Behaviour

Refers to the management or regulation of one's actions or reactions in various situations.

Humanist

A person who advocates for the values of human welfare, dignity, and rationalism, often emphasizing the importance of human values and concerns.