What must managers implement during the operations stage?

Prepare for the CGFM Exam 1 with flashcards and multiple-choice questions. Each question comes with hints and explanations to help you understand. Ace your exam by studying the key concepts of the governmental environment!

During the operations stage, managers have the crucial responsibility of implementing internal controls to safeguard assets. Internal controls are processes and procedures that are designed to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud. By establishing these controls, managers can mitigate risks associated with errors or misuse of resources, thus enhancing the organization's operational effectiveness.

Additionally, sound internal controls help to ensure compliance with applicable laws and regulations, which is vital in the governmental environment where transparency and accountability are paramount. Properly implemented internal controls can also improve operational efficiency by streamlining processes and reducing the potential for waste.

While cost reduction strategies, public relations initiatives, and outsourcing non-essential functions may be relevant considerations in the operational strategy, the primary focus during this stage must be on the protection and effective management of the organization's assets, making internal controls foundational to successful operations management.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy