Fluent Essays

A 2,500-word assignment to examine a case study and develop your own ideas and recommendations for the effective operation of the organisation. The case study will be proposed by the tutor and students are required to write, and present, an individual essay evaluating the role of operational and financial management in the case organisation. Students are required to employ a range of analytical techniques, communicate effectively and demonstrate both theoretical and practical understanding of the key issues addressed by the module. mof_assessment_2_2020.docx mof_eca__rubics_2020.docx mof_eca_case_study_2020_updated.doc Unformatted Attachment Preview Teesside University Business School Managing Operations and Finance Assessment 2 (60\%) A 2,500-word assignment to examine a case study and develop your own ideas and recommendations for the effective operation of the organisation. The case study will be proposed by the tutor and students are required to write, and present, an individual essay evaluating the role of operational and financial management in the case organisation. Students are required to employ a range of analytical techniques, communicate effectively and demonstrate both theoretical and practical understanding of the key issues addressed by the module. Detailed requirements are as follow: 1. Critically discuss the role of the Management Accounting in the management process and identify the major differences between the management accounting and financial accounting. Employ appropriate techniques to analyse and explain how different models of costing could be used in operational management. 2. Employ capital investment appraisal techniques in selecting projects and critically discuss the techniques in making investment decisions. 3. Critically discuss the role of Business Plan and Budget in operational management of the case organisation. Recommend the areas of improvement and prepare a new report to illustrate this, using the information provided in the case study. 4. Critically discuss the usefulness of Balanced Scorecard Approach and prepare an example of Balance Scorecard for this organisation. You will be able to demonstrate • a depth of knowledge of the topics, supported by evidence of extensive and relevant reading; • the ability to apply the theories or techniques in practice; • a critical understanding of your topics; • an awareness of topical and other significant developments and • a conclusion that is logically derived and cohesive. Assessment Criteria The attached generic Level 7 University marking criteria will be employed and correct use of referencing format and style are required. A structured feedback sheet will be used to provide comments and advice. MOF Assessment 2 2019-2020 1 of 4 Main Learning Outcomes addressed: 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. Develop a strategic understanding of the impact of a dynamic and challenging resource environment. Develop the ability to select and apply appropriate operational and financial management techniques. Examine the role of financial information in demonstrating accountability and performance. Evaluate and appraise approaches to the management control of operations. Critically apply theoretical perspectives to practical problems. Analyse the role of finance and operations management and evaluate how they impact upon the main functional activities of an organisation and their management. Demonstrate awareness of the legal and professional framework that governs financial management practice. Demonstrate an ability to apply operations and financial models to assist organisational management and control. Successfully apply a range of appropriate approaches to learning. Select and apply appropriate computational skills. Submission date: Submit electronically to the Blackboard by the determined date. Feedback would be provided within 20 working days MOF Assessment 2 2019-2020 2 of 4 Band Generic Criteria 90-100\% An excellent critical and complete demonstration of understanding in all key areas of knowledge relevant to the work and demonstrating an innovative and creative approach. Evidence throughout the work of a sustained ability to synthesise and interpret complex concepts, to make inferences and to provide an original and/or compelling argument and discussion. Excellent structure and immaculate presentation, with cogent use of academic language and grounded in a pertinent and substantial selection of source materials. Excellent use of appropriate analytical and research methods and addresses ethical considerations in an informed and perceptive manner. Exceptional ability to link and critically analyse theory and practice where appropriate. An excellent, critical and systematic demonstration of understanding in all key areas of knowledge relevant to the work. Evidence throughout of the ability to synthesise and interpret complex concepts to provide a compelling argument and discussion. Very good structure and presentation, with confident use of academic language and grounded in a relevant and extensive selection of source materials. Excellent use of appropriate analytical and research methods and fully addresses ethical considerations. Excellent ability to link and critically analyse theory and practice where appropriate. An excellent, critical and organised demonstration of understanding in all key areas of knowledge relevant to the work. Evidence throughout of the ability to synthesise and interpret diverse concepts to provide a sound argument and discussion. Good structure and presentation, with fluent use of academic language and grounded in an appropriate and comprehensive selection of source materials. Very effective use of appropriate analytical and research methods and consideration of ethical implications. Very good ability to link and critically analyse theory and practice where appropriate. A proficient, clearly stated and analytical demonstration of understanding in all key areas of knowledge relevant to the work. Evidence of the ability to integrate and analyse diverse concepts in a rational and logical argument and discussion. Well structured and clearly presented work, with fluent use of academic language and utilising a relevant and extensive range of source materials. Effective use of appropriate analytical and research methods and consideration of ethical issues. Good ability to link and critically analyse theory and practice where appropriate. An acceptable and substantiated demonstration of understanding in all key areas of knowledge relevant to the work. Evidence of the ability to integrate and analyse diverse concepts in a reasoned and valid argument and discussion. Adequately structured and presented work, with clear use of academic language and reference to a sufficient range of relevant source materials. Adequate use of appropriate analytical and research methods and does address ethical considerations. Effective linking of theory and practice where appropriate. A limited, insufficient and/or inaccurate understanding in key areas of knowledge relevant to the work. Insufficient evidence of ability to integrate and analyse concepts to provide a valid discussion. Unacceptably structured and presented work, with insufficient use of academic language and conventions. A limited range of source materials is used. Limited or ineffective use of analytical and research methods and limited coverage of ethical considerations. Inadequate linking of theory and practice where applicable. A descriptive and/or narrative account, with little critical and/or flawed understanding of key areas of knowledge relevant to the work. Insufficient evidence of ability to discuss fundamental concepts. Unclear and and/or unevidenced argument and discussion. Poorly structured and presented work, with little use of academic language and conventions. A narrow and/or inappropriate range of source materials and analytical and research methods is used. Failure to identify ethical considerations and to link theory and practice where applicable. A weakly descriptive and/or narrative account, with no analytical content and/or significant inaccuracies in understanding of key areas of knowledge relevant to the work. Little or no evidence of research and the ability to discuss fundamental concepts. No awareness of ethical issues. Unclear and unsourced arguments and discussion. Flawed structure and presentation, with negligible attention to academic language or conventions. Some or all source materials are unreferenced and/or irrelevant. Failure to link theory and practice where applicable. 80-89\% 70-79\% 60-69\% 50-59\% 40-49\% 30-39\% 0-29\% MOF Assessment 2 2019-2020 3 of 4 TEESSIDE UNIVERSITY BUSINESS SCHOOL Managing Operations and Finance Assignment 2 Feedback Student Name: Criterion Indicative Weighting \% 25 25 35 15 100 Appropriate calculation Application of the techniques in decision making Evaluation of the techniques Overall presentation, style and bibliography Total*** Mark or N/A \% *** Please see over for broad definition of criteria and note that pass mark is 50\%. Comments Tutor: Signature: Date: This feedback is being given for purposes of advice and guidance and to assist your learning and development in this module. References to standards or marks are entirely provisional and subject to confirmation following University procedures. Only University Assessment Boards are able to issue confirmed, definitive marks” MOF Assessment 2 2019-2020 4 of 4 Assessment Criteria 30-39\% 40-49\% 50-59\% 60-69\% 70-79\% 0-29\% Discussion about the role of management accounting in the management process, including difference between management accounting and financial accounting (15\%) Appropriate calculation of management accounting techniques used for decision making (25\%) Development of performance management tool for organisational decision making (10\%) Evaluation of the management accounting techniques and performance management tool in relation to decision making in the organisations (35\%) Overall presentation, style and references (15\%) (0-4) A weakly descriptive account of the concepts, with inaccuracies. Lacking in understanding of management and financial accounting. (0-7) Significant inaccuracies in the calculations of accounting techniques. (0-3) Work contains no performance management tool for decision making. (0-10) Extremely poorly structured review showing no effective use of relevant material, neither theoretical nor practice associated with decision making in organisation (0-4) A weakly descriptive and very poorly structured introduction and conclusion. The formatting and referencing didn’t follow stipulated guidelines. (5-6) Insufficient evidence of ability to discuss fundamental concepts. Poor understanding of what is management and financial accounting concepts (6 - 7) A limited, and insufficient understanding of the management accounting and financial accounting concepts. The work displays a weak knowledge base. (7-10) Very weak calculation of accounting techniques. There are lots of errors and miscalculations (10-12) Insufficient management accounting techniques calculations without errors. Hence techniques has limited use for decision making (3– 4) Very weakly developed performance management tool. There are lots of errors within the tool developed. (4-5) A limited understanding of the performance management tool. The work contains a weakly developed model without KPIs as a result of limited knowledge base. (10-14) Very poorly structured review showing no effective use of relevant material, neither theoretical nor practical, associated with decision making in organisation (5 - 6) A very poorly structured introduction and conclusion. The conclusion is not summarising the findings and arguments of the report. The formatting and referencing didn’t follow stipulated guidelines. (7- 9) An acceptable work with some clear and logical explanation of the management and financial accounting concepts, although further development would be beneficial. (12-15) Evidence of some correct management accounting techniques calculations. Hence some good use for decision making. (5 – 6) An acceptable performance management tool development with relevant KPIs and some clear and logical explanation. (14-17) Poorly structured review showing limited use of relevant material, neither theoretical nor practical, associated with decision making in organisation (17-21) Satisfactory review showing some use of relevant material, both theoretical and practical information, associated with decision making in organisation (6 - 7) A poorly structured introduction and conclusion. The introduction is not providing insight to the report. The conclusion is not summarising the findings and arguments of the report. The formatting and referencing didnt follow guidelines properly. (7 - 9) A satisfactory introduction and conclusion. The introduction is providing insight to the report. The conclusion is summarising the findings and arguments of the report. The formatting and referencing guidelines were reasonably followed. (9 -10) Very good discussion about the management and financial accounting concepts. Wellstructured and clearly presented work, with fluent use of academic language of a high standard. (10 -12) Outstanding work with discussion about accounting concepts done to a very high standard, based on strong research and reading. (15-17) Appropriate management accounting techniques calculations to support decision making process and writing up of report. (17-20) A very good and critical engagement with the case study with proper and accurate accounting techniques calculations to build interesting findings. (6-7) Very good performance management tool development and appropriate KPIs with good discussion at a high level academic standard. (7 -8) Outstanding performance management tool development with KPIs done to a high standard based on strong research. (21-24) Very good review showing coherent use of relevant material, both theoretical and practical data, associated with decision making in organisation (24-28) Outstanding review showing coherent use of a wide range of material, both theoretical and practical data, associated with decision making in organisation (9 -10) A very good introduction and conclusion. The introduction is nicely providing insight to the report. The conclusion is clearly summarising the findings and arguments of the report. The formatting and referencing guidelines were followed properly. (10-12) An outstanding introduction and conclusion. The introduction is providing an interesting insight to the report about decision to be undertaken. The formatting and referencing guidelines were followed accurately. 80-89\% (12 – 13)An excellent work that clearly, demonstrated an understanding of what is management and financial accounting. All discussions are relevant to the work based on extensive reading (20-22) An excellent engagement with the case study with error free accounting techniques calculations presented to a high level standard that aided decision making (8-9) An excellent work that clearly, demonstrated an understanding of performance management tool. Work is based on extensive reading with appropriate KPIs. (28-31) Excellent review showing coherent use of a wide range of material, both theoretical and practical data, associated with decision making in organisation (12 – 13) An excellent introduction and conclusion. The conclusion is summarising important findings and arguments regarding decision to be undertaken in the company. The formatting and referencing guidelines were followed correctly. 90-100\% (13 -15)An excellent critical and complete demonstration of understanding of what is management and financial accounting concepts based on research and extensive readings (22-25) An excellent error free accounting techniques calculations presented to an exceptionally high level academic standard that aided decision making (9 -10) An excellent logically thought-out KPIs and complete demonstration of understanding of the performance management tool. Work is based on research and extensive reading. (31-35) An Exceptional Excellent review showing coherent use of a wide range of material, both theoretical and practical data, associated with decision making in organisation (13-15) A very excellent introduction and conclusion. The conclusion is summarising ground breaking findings and arguments about the decisions to be undertaken in the company. The formatting and referencing guidelines were followed appropriately. Managing Operations and Finance - ACC4029 CASE STUDY N-Tech UK Ltd is a company, based in Edinburgh UK and established in 2010, that produces smart phones components. It is a relatively small company, with a highly skilled work force. Despite the Brexit quagmire that impacted its supply/distribution chain the company is still profitable due to its excellent products and reputation for customer service. N-Tech UK Ltd has six key departments – Marketing, Customer Support, Finance, Manufacturing, Research and Development, and HR. The company’s Mission statement is to be “Recognised by customers and employees as a progressive, high quality, supplier of innovative mobile products at affordable prices” Key financial targets The CEO, Mr John Stoddart, has recently had a formal strategy meeting with his fellow directors to confirm the Mission Statement, and they agreed to set a Return on Capital Employed of 22\% and a profit before tax of £7.5m as the financial targets for each of the next three years. “With a £200 selling price per unit and a £150 variable cost per unit, we are working flat out as it is on the shop floor, and we need to spend a lot more on product development to make any significant improvements to the product.” The head of the accounting department noted that expanding production facilities will increase the fixed cost to £2,500,000. Manufacturing issues Although manufacturing is generally very efficient, and of a high standard, the Manufacturing Director, Mr Peacock, is anxious to maintain and even improve this performance. He intends to implement a policy that all technical staff involved in direct manufacturing should be qualified to at least NVQ level 4, while their supervisors should be qualified to BSc (Hons) level. To assist with quality improvement. Mr Peacock has introduced a new quality measurement system, and has set a target for defective finished products requiring rectification at a maximum of 3\%. 1 Customer Support NTech UK Ltd reputation with its customers is an important area of focus, hence customer satisfaction survey request is sent to every customer within 4 weeks of a completed sale. The target is for the proportion of customers rating the company as “Excellent” to be at least 85\% or above. As many of the sales are direct to customers, telephone response within the Customer Support team is extremely important. The Customer Support Manager is concerned about the speed of response to telephone calls and would like to introduce an objective of answering all calls within four rings and an automatic call back for every request left by the customers. Employee retention The HR department has been looking very closely at employee retention and is concerned that there is a fairly rapid turnover of skilled production operatives within companies in the Manchester area. The current annual staff turnover is 35\% and the objective, to support the Mission Statement, is to reduce this to 25\% at the first instance while working towards achieving a skilled staff turnover target of 7.5\%. Current Developments Following a heated meeting with the CEO about weaknesses in budgetary reporting and control, the Finance Director was sacked for not providing adequate information and guidance to executive management. The company has taken on a new Finance Director, Mr Lewis Scott, a qualified accountant, who has also recently completed an MSc degree in Business Analysis with specialisation in Managing Operations and Finance. As part of his induction, Mr Scott had discussions with all the key staff and has identified a number of areas of concern. Three areas have particularly worried him. 1. The CEO explained that he is fully aware of the importance of an annual budgetary process and detailed budgetary control, but is having great difficulties in explaining this to his fellow directors, as the overall process at NTech UK Ltd has fallen into disrepute. The CEO would also like to cl ... Purchase answer to see full attachment