TMA 02 and EMA Tutorial Slides TMA 02

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TMA 02 and EMA Tutorial Slides

TMA 02 and EMA Tutorial Slides

TMA 02

TMA 02

TMA 02 • Same type of outputs as TMA 01 • 1500 Word report

TMA 02 • Same type of outputs as TMA 01 • 1500 Word report • Activity Portfolio • 5 mb size limit in. rtf or. doc format

Part 1 Report • A report based directly on the content of Week 12,

Part 1 Report • A report based directly on the content of Week 12, Activity 2 output (Resolving a budget information problem), suitably revised and provided in report format. “Consider the application of budgets in your own organisation, identifying the practical problems arising. ” • OR • A report based directly on the content of Week 14, Activity 3 output (‘Costing products and services’), suitably revised and provided in report format. “Identify the main cost drivers in your own organisation or

Week 12, Activity 2 output: “Consider the application of budgets in your own organisation,

Week 12, Activity 2 output: “Consider the application of budgets in your own organisation, identifying the practical problems arising. ” • The following are typical examples 1. 2. 3. 4. 5. 6. 7. Lack of budget and the impact that has on your team / department Budgeting is given from “above” in the organisation and the impact that has on your team / department Ever changing market conditions in the budgeting cycle period and the impact that has on your team / department The business is in start up mode and as yet does not have a budget and therefore the difficulties you have in developing this Your team / department has had an enforced budget cut and the impact that has on your team / department The budgeting method is inappropriate for the type of team. Department business and the impact that has on your team / department The budgeting process is not iterative and so no feedback / improvement is carried out and the impact that has on your team / department

Week 14, Activity 3 output : “Identify the main cost drivers in your own

Week 14, Activity 3 output : “Identify the main cost drivers in your own organisation or department. ” • The following are typical examples 1. 2. 3. 4. 5. 6. Inability to directly identify costs (cost objects) in the org / department and the impact this has on the team / department / organisation Inability to control all costs attributed to the team / department as overheads are a “given” by the larger organisation Inability to change costs (i. e. providers of services / goods) and the impact this has on the team / department Internal costing's are not aligned to the real costs from a charge back perspective and the impact this has on the team / department Costs are too high for the services provided (i. e. you make a loss (on internal or external customers)) and the impact this has on the team / department Changing business conditions mean that cost types and volumes fluctuate dramatically over a budgeting period / project cycle and the impact this has on the team / department

Part 1 Considerations • Word location is crucial • Word count: 1500 words excludes:

Part 1 Considerations • Word location is crucial • Word count: 1500 words excludes: cover page, contents page, summary, diagrams, references and appendices – Problem identification and description (10 marks) – Analysis of the problem and conclusion to the analysis (40 marks) – Recommendations, advantages, disadvantages and implications (15 marks) – Presentation (5 marks)

Part 1 – More considerations • Aim of TMA is to: – Help you

Part 1 – More considerations • Aim of TMA is to: – Help you solve a real world problem – Show you know and can apply course concepts – This means going beyond the key concept of the activity • Use multiple concepts • Use diagramming / problem solving tools from course book

Part 1 – Tick list • Problem identification and description (10 marks) • Have

Part 1 – Tick list • Problem identification and description (10 marks) • Have you… – Clearly defined your organisation and your role in it? – Clearly stated what the problem is? – Clearly defined if it is a budget information or a cost driver problem? – Shown how this issue impacts you and others in or outside of your organisation

Part 1 – Tick list • Analysis of the problem and conclusion to the

Part 1 – Tick list • Analysis of the problem and conclusion to the analysis (40) • Have you… – Shown understanding of relevant module concepts from BZX 629 – Shown your ability to apply these concepts clearly and logically to the analysis of the problem – Chosen the most relevant module concepts to analyse the problem – Ensured the logic of your analysis is clear and convincing – Used diagrams, figures and tables in a manner that

Part 1 – Tick list • Recommendations, advantages, disadvantages and implications (15) • Have

Part 1 – Tick list • Recommendations, advantages, disadvantages and implications (15) • Have you… – Made recommendations that follow clearly from the analysis and conclusion and that address the problem you have identified – Set SMART and realistic actions – Covered advantages, disadvantages and implications of EACH of your recommendations clearly and concisely

Part 1 – Tick list • Presentation (5 marks) • Have you… – Ensured

Part 1 – Tick list • Presentation (5 marks) • Have you… – Ensured clarity and logic in your writing – Created a clear and tidy report which is appropriate for a management context – Referenced correctly module concepts and other materials taken from other sources

 • • • • • Week 10 - The need for financial information

• • • • • Week 10 - The need for financial information LIST the role of financial information: p. 126 Role of manager in using / providing financial information: p. 127 Financial stakeholders: p. 128 TABLE Stakeholders financial needs and reasons for info: p. 129 Accounting entity: p. 130 Financial pictures of organisations: p. 131 • • • Week 12 - The practical use of budgets Different approaches to budgeting: p. 148 Incremental budgeting: p. 148 Zero Based budgeting: p. 149 Rolling budgets: p. 150 Fixed budgets: p. 150 Flexible budgeting: p. 152 Management by Objectives: p. 154 Budgets and people: p. 154 LIST 8 issues that people impact in budgeting: p. 155 DIAGRAM The "hockey stick" effect: p. 157 • • CHAPTER 14 - Costing products and services Overview of charging indirect costs to objects: p. 176 CASE Absorbing indirect costs: p. 176 CASE Activity based costing: p. 186 • • Week 11 - Budgets for planning & control Budgeting overview: p. 133 LIST & DIAGRAM Budgeting process and control loop: p. 135 LIST 5 Functions of budgets: p. 135 Criticisms of budgeting: p. 136 Link between budgeting & planning: p. 137 DIAGRAM The pyramid of purpose: p. 138 LIST STEEP influences: p. 138 DIAGRAM You, your budgets & your organisation: p. 139 LIST The cycle of planning: p. 140 Time factors in budgeting: p. 141 CASE EXAMPLE Budgetary procedures and structures: p. 142 DIAGRAM Relationship between departments and budget: p. 143 Budget procedures who does what: p. 146 • • • • Week 13 - Measuring costs in organisations Management accounting versus financial accounting: p. 158 LIST Why managers need cost information: p. 158 The cost object: p. 159 Fixed and variable costs: p. 159 Direct and indirect costs: p. 161 Contribution: p. 162 Operational gearing: p. 167 Break even analysis: p. 168 CHART Break even example: p. 170 Margin of safety: p. 171 Stepped costs: p. 171 Break even analysis and volume/price decisions: p. 172 LIST Limitations of contribution and break even assumptions: p. 174

Part 2 Portfolio • Provide a portfolio of completed activity outputs comprising at least

Part 2 Portfolio • Provide a portfolio of completed activity outputs comprising at least 14 activities for Weeks 6– 14, not including the one you have used in Part 1 of this assignment. • 20 activities available minus the one you use for Part 1 • Need a contents section: Activity X page Y • Not looking for correct answers, just intent • Activities marked in the book as public posts must show evidence of posting THE REST just need to be your work i. e. copy

Topics for TMA Week 12, Activity 2 output (Resolving a budget information problem) “Consider

Topics for TMA Week 12, Activity 2 output (Resolving a budget information problem) “Consider the application of budgets in your own organisation, identifying the practical problems arising. ” OR A report based directly on the content of Week 14, Activity 3 output (‘Costing products and services’), suitably revised and provided in report format. “Identify the main cost drivers in your own organisation or department. “

Your TMA 02 • In groups discuss suitable topics • Connecting concepts

Your TMA 02 • In groups discuss suitable topics • Connecting concepts

Core concepts that are relevant to the two topics in the TMA choice •

Core concepts that are relevant to the two topics in the TMA choice • • • • • Week 10 - The need for financial information LIST the role of financial information: p. 126 Role of manager in using / providing financial information: p. 127 Financial stakeholders: p. 128 TABLE Stakeholders financial needs and reasons for info: p. 129 Accounting entity: p. 130 Financial pictures of organisations: p. 131 • • • Week 12 - The practical use of budgets Different approaches to budgeting: p. 148 Incremental budgeting: p. 148 Zero Based budgeting: p. 149 Rolling budgets: p. 150 Fixed budgets: p. 150 Flexible budgeting: p. 152 Management by Objectives: p. 154 Budgets and people: p. 154 LIST 8 issues that people impact in budgeting: p. 155 DIAGRAM The "hockey stick" effect: p. 157 • • CHAPTER 14 - Costing products and services Overview of charging indirect costs to objects: p. 176 CASE Absorbing indirect costs: p. 176 CASE Activity based costing: p. 186 • • Week 11 - Budgets for planning & control Budgeting overview: p. 133 LIST & DIAGRAM Budgeting process and control loop: p. 135 LIST 5 Functions of budgets: p. 135 Criticisms of budgeting: p. 136 Link between budgeting & planning: p. 137 DIAGRAM The pyramid of purpose: p. 138 LIST STEEP influences: p. 138 DIAGRAM You, your budgets & your organisation: p. 139 LIST The cycle of planning: p. 140 Time factors in budgeting: p. 141 CASE EXAMPLE Budgetary procedures and structures: p. 142 DIAGRAM Relationship between departments and budget: p. 143 Budget procedures who does what: p. 146 • • • • Week 13 - Measuring costs in organisations Management accounting versus financial accounting: p. 158 LIST Why managers need cost information: p. 158 The cost object: p. 159 Fixed and variable costs: p. 159 Direct and indirect costs: p. 161 Contribution: p. 162 Operational gearing: p. 167 Break even analysis: p. 168 CHART Break even example: p. 170 Margin of safety: p. 171 Stepped costs: p. 171 Break even analysis and volume/price decisions: p. 172 LIST Limitations of contribution and break even assumptions: p. 174

Introduction to the EMA End of Module Assignment

Introduction to the EMA End of Module Assignment

EMA • END OF MODULE ASSIGNMENT • Replaces EXAM for module • Aimed to

EMA • END OF MODULE ASSIGNMENT • Replaces EXAM for module • Aimed to test your knowledge of and the ability to apply course concepts for the WHOLE course. • Not marked by tutor • No extensions from tutor • Pass is 40% • Grades between 5% 39% RESIT • Grade <5% FAIL

EMA FORMAT • 2 PARTS • Part 1 – A 2 part REPORT 70%

EMA FORMAT • 2 PARTS • Part 1 – A 2 part REPORT 70% of marks – A marketing mix issue – A performance measurement issue • Part 2 – Portfolio of 12 activities 30% marks • All in ONE document

Part 1 - FLOW A. Describe your organisation your work group your role B.

Part 1 - FLOW A. Describe your organisation your work group your role B. Describe the marketing mix used in exchanges with ONE stakeholder C. Identify, analyse and summarise ONE problem relating to the ABOVE marketing mix D. Suggest one OR MORE solutions for the marketing mix problem E. Identify, analyse and summarise ONE problem relating to performance measurement in an organisation you know F. Suggest one OR MORE solutions for the performance measurement problem

Part 1 – FLOW with marks A. 5 Describe your organisation your work group

Part 1 – FLOW with marks A. 5 Describe your organisation your work group your role B. 10 Describe the marketing mix used in exchanges with ONE stakeholder C. 15 Identify, analyse and summarise ONE problem relating to the ABOVE marketing mix D. 5 Suggest one OR MORE solutions for the marketing mix problem E. 25 Identify, analyse and summarise ONE problem relating to performance measurement in an organisation you know F. 5 Suggest one OR MORE solutions for the performance measurement problem • 5 Structure, presentation, referencing

Part 1 – Section A (5 marks) • Describe your organisation your work group

Part 1 – Section A (5 marks) • Describe your organisation your work group your role • Words c. 175 • Ensure you mention – Customers – Stakeholders – Your role • Tutor thoughts – Think what is applicable in Weeks 1, 2, 3 – Potential diagrams: Org chart, input/output, system map – Start to reference straight away in text: (BZX 629 Understanding marketing and financial information, p. XY) – Do not lose words here only 5 marks!

Part 1 – Section B (10 marks) • Describe the marketing mix used in

Part 1 – Section B (10 marks) • Describe the marketing mix used in exchanges with ONE stakeholder • Words 250 300 word • Ensure you mention – All 7 P‘s (product, price, place, promotion, people, processes, physical evidence - not in equal detail / if not relevent state why) • Tutor thoughts – Think what is applicable in weeks 6 & 7 – Potential diagrams: BCG matrix, non profit analysis matrix, pricing matrix, distribution channels, communication model, mind map – Use outside material if it supports – Be concise, use diagrams to help

Part 1 – Section C (5 marks) • Identify, analyse and summarise ONE problem

Part 1 – Section C (5 marks) • Identify, analyse and summarise ONE problem relating to the ABOVE marketing mix • Words 250 300 word • Ensure you use several concepts to analyse the issue • Tutor thoughts – Think what is applicable in weeks 2, 4 & 5 – Potential diagrams: All from chapters, force field, multiple cause, fishbone, mind map – Something you can impact (control / influence) – Identify which P, analysis AND conclusion – More words in analysis

Part 1 – Section D (5 marks) • Suggest one OR MORE solutions for

Part 1 – Section D (5 marks) • Suggest one OR MORE solutions for the marketing mix problem • Words c. 175 words • Ensure you use SMART • Tutor thoughts – Potential diagrams: 2 x 2 grids i. e. impact vs ease of implementation, force field, mind map – Really SMART i. e. broken down • Specifically what you will do • Measurements of success AND progress • Achievable (Aligned) in context of role • Realistic in terms of Resources & Time

Part 1 – Section E (25 marks) • Identify, analyse and summarise ONE problem

Part 1 – Section E (25 marks) • Identify, analyse and summarise ONE problem relating to performance measurement in an organisation you know • Words c. 800 words • • A mini TMA Focused on financial part of course Analysis largest section SMART action plan • Tutor thoughts THE opportunity to gain or lose marks Weeks 11 onwards! Needs to show numbers somewhere

Part 1 – Section F (5 marks) • Suggest one OR MORE solutions for

Part 1 – Section F (5 marks) • Suggest one OR MORE solutions for the performance measurement problem • Words c. 175 words • One or more recomendations • Tutor thoughts Bullet point list of recomendations Select 2/3 and state WHY selected SMART action plan

Part 2

Part 2

Part 2 – Portfolio • 12 activities from weeks 15 to 19 • Cannot

Part 2 – Portfolio • 12 activities from weeks 15 to 19 • Cannot include Wk 19 – Act 1 • Tutor thoughts – Include ALL you have done (Max 16) – Ensure you include contents section • Week • Activity • Page number – In the same document – Each their own page

EMA Topic

EMA Topic

Part 1 - FLOW CONSIDER YOUR MIX / PROBLEM & PERFORMANCE MEASUREMENT PROBLEM A.

Part 1 - FLOW CONSIDER YOUR MIX / PROBLEM & PERFORMANCE MEASUREMENT PROBLEM A. Describe your organisation your work group your role B. Describe the marketing mix used in exchanges with ONE stakeholder C. Identify, analyse and summarise ONE problem relating to the ABOVE marketing mix D. Suggest one OR MORE solutions for the marketing mix problem E. Identify, analyse and summarise ONE problem relating to performance measurement in an organisation you know F. Suggest one OR MORE solutions for the performance measurement problem

DIAGRAMS

DIAGRAMS

Diagrams in TMA • Do not just copy and paste diagrams: – Annotate –

Diagrams in TMA • Do not just copy and paste diagrams: – Annotate – Reference

Diagrams in TMA My recent trip to Mc. Donalds Zone of tolerance (Paraduraman et

Diagrams in TMA My recent trip to Mc. Donalds Zone of tolerance (Paraduraman et al, 1991, , p. 42) Adequate Desired Expectations of service level LOW Undesired > 4 min wait Cold food Ignored by staff Dirty restaurant Hot restaurant HIGH Expected < 3 mins wait ✔ Warm food ✔ Friendly staff ✔ Clean restaurant ✖ Good temperature ✔ Desired No wait Hot food Personalised attention Spotless restaurant Air conditioned

Diagrams • Ensure annotation • Ensure referencing • Consider drawing in Power. Point or

Diagrams • Ensure annotation • Ensure referencing • Consider drawing in Power. Point or similar – Export slide as graphic & import – Copy and paste slide from SORTER view – Do a screen shot and import / crop – I do mine as CUSTOM SLIDE SHOW 10 cm x 10 cm