ELECTRONIC ASSIGNMENT COVERSHEETCourse/Unit Information
Course Extended Diploma in International Business and Strategy
Unit No.
Unit Name Operations and Project Management
Unit code
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Your assignment should meet the following requirements.
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STUDENT DECLARATION
I hereby confirm that this assignment is my own work and not copied or plagiarized. It has not previously been submitted as part of any assessment for this qualification. All the sources, from which information has been obtained for this assignment, have been referenced as per Harvard Referencing format. I further confirm that I have read and understood the Westford rules and regulations about plagiarism and copying and agree to be bound by them.
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LEARNING OUTCOMES AND ASSESSMENT FEEDBACK
Name of the Assessor
Module Code & Title SQA/4010 Operations and Project Management
Module Learning Outcomes
LO1 Critically evaluate how operations management contributes to the competitiveness of an organization.
LO2 Critically evaluate how quality management processes and supply chain networks contribute to achieving the overall strategic objectives of an organization.
LO3 Critically evaluate the information management/systems in relation to the operation management processes.
LO4 Design a project plan for a given business scenario and implement a project.
Assessment Types Marks Marks Achieved
Executive Summary 10
Introduction & OM Quality Practices 20
Operational Strategies & Supply Chain Role 20
MIS & ICT 20
Project Management Tools & Conclusion 20
Presentation 10
Overall Score 100
Overall Grade Click or tap to enter a date.
Summative Feedback:
Overall Feedback on current work with emphasis on how the student can further improve in future.
Internal Verification Report
Internal Verification Done By Date
Assignment Brief
Assessors Decision
The following grading criteria will be applicable for the course, Executive Diploma in International Business and Strategy:
Marks Grade
70 to 100 A – Distinction
60 to 69 B – Merit
50 to 59 Pass
40 to 49 Fail with Resubmit
0 to 39 Fail with Retake
GENERAL GUIDELINES
(Please read the instructions carefully)
1. Complete the title page with all necessary student details and ensure that the student declaration is ticked.
2. All assignments must be submitted as an electronic document in MS Word to the LMS (Use 12 Times New Roman script).
3. All assignments must be submitted with an accompanying Turnitin report.
4. Assignment that is not submitted to the LMS by the prescribed deadline will be accepted ONLY under the REDO and RESIT submission policy of Westford.
5. The results are declared only if the student has met the mandatory attendance requirement of 75% and/or a minimum of 50% under extenuating circumstances approved and ratified by the Academic Director. The student has to repeat the module (with additional fees applicable) if the attendance is below 50%.
6. The assignment should not contain any contents including references cited from websites like www.ukessays.com, www.studymode.com, www.slideshare.net , www.scribd.com.
7. Students can refer Wikipedia as a source of information, but the references cited in Wikipedia must be mentioned.
8. Submit the assignment in a MS Word document with the file name being:
First Name Last Name_ abbreviation of the subject.
Example: John Smith_OPM.
Quick reference Checklist for the Faculty/Instructor to accept/reject the assignment before evaluation:
? Adherence to the deadline of submission date.
? Original cover sheet and format retained.
? Student information and signature intact.
? Font style and size used as instructed.
? Harvard Referencing Style is strictly followed.
Assignment Operations and Project Management
Learning Outcome 1: Critically evaluate how operations management contributes to the competitiveness of an organization.
? PC 1.1: Critically discuss the principles, theories and concepts of Operations Management.
? PC 1.2: Evaluate the impact of productivity, workflow and quality on organizational competitiveness.
? PC 1.3: Critically discuss the integration of core operational strategies with the overall business strategy.
Learning Outcome 2: Critically evaluate how quality management processes and supply chain networks contribute to achieving the overall strategic objectives of an organization.
? PC 2.1: Critically discuss the application of principles, techniques and practices of Quality Management in operations management.
? PC 2.2: Evaluate the critical role of Supply Chain network design in aligning the operations strategy to the overall business strategy.
? PC 2.3: Develop appropriate performance indicators to effect monitoring, control and continuous improvement of company operations.
Learning Outcome 3: Critically evaluate the information management/systems in relation to the operation management processes.
? PC 3.1: Critically discuss how the synthesis of management information systems assist the operations management process.
? PC 3.2: Evaluate the use of wide range of ICT applications in supporting and enhancing the management of operations in organisations.
? PC 3.3 Critically analyse the appropriate methods, requirements and the use of current and emerging technologies for the optimisation of operational processes.
Learning Outcome 4: Design a project plan for a given business scenario and implement a project.
? PC 4.1: Analyse the principles, practices, methodologies and the tools to develop project specification, schedule, control and evaluation of projects.
? PC 4.2: Evaluate the contribution of Project Leadership during change and management of stakeholders.
? PC 4.3: Implement and manage a project using scheduling tools and project controls.
Assignment Task Report [100 Marks] [5000 Words +/-10%)
This task requires you to prepare a Report with the guidelines provided.
Scenario:
You are acting as the operations and quality consultant for a chosen organization (preferably where the learner is currently working or any other organization of your choice). You have been asked by the board of directors to prepare a report to review the operations and quality management processes in the organisation. You are required to look at the existing supply chain networks, operations management and quality management processes, procedures and systems within the organization, and, evaluate the competitiveness of the organization in achieving key strategic objectives.
It is also imperative to evaluate the information management/ systems in the organisation in relation to such operations management processes.
You should make use of relevant academic literature, theories, current issues, principles and concepts in Operations and Quality Management. You MUST follow the Report format, which should contain the following sections.:
1. The report should have an Executive Summary (A summary of the entire report in no more than one page of A4 paper). [10 Marks]
An overview of your assignment is required here. For example, what are the main themes discussed / mentioned.
2. You should provide a brief Introduction to the chosen organisation and highlight the operations management challenges that the organisation currently faces (Students may firstly or at some point give an overview of the operations of their firm, highlighting as well the firm’s current ops strategy and challenges). You should then critically discuss the application of any three principles in maintaining quality management of the Operations Management practices.(As for discussing the principles in maintaining quality management , this may refer to sound leadership, being customer focussed, being a good communicator, training and promoting a culture of quality promoting kaizen and so on, promoting TQM , rewarding staff for quality excellence See link here for more : quality management principles ).
[20 marks]
TIP :
To afford the reader a more critical insight , the student could outline the challenges in implementing or carrying out these QUALITY MANAGEMENT principles ( in their firm). Other firms can be compared as well). One such challenge is the culture of the organisation. If a quality of culture is absent then there might be difficulty for the leadership to transform the firm into a quality environment. High cost of implementing quality systems could be another challenge.
challenges in implementing ISO Standard
3. Evaluate the impact of productivity,(The impact of productivity for any firm will surely have an impact on its competitiveness. This could be discussed in the context of your firm or any other organisation. A surplus or decline in production must both be managed to meet the market requirements. This must be discussed) workflow (Workflow or the process design of the firm can also affect the operation as well as competitiveness. If there are too many steps in the process , the customer waiting time will be longer than usual. They may then shift to another store. This must be discussed) and quality (Quality issues also affect the competitiveness of your firm. When quality is down, it affects goodwill, profit etc. Explore this discourse in detail in the context of your firm) on organizational competitiveness. Thereafter, critically evaluate the integration of core operational strategies of the organization with its overall business strategies, with a special reference to the role of Supply Chain Network design aligning with the overall business strategy.If there are any changes to the operations strategy, the supply chain network of Tesla will have to be reconfigured since they will now be supplying cars to newer markets. Think about a similar scenario with your firm as the supply chain network will need to ship spares , subassemblies and cars to these markets. They may also have new suppliers within the region to support the business.
After all is said and done, the strategies and actions must be monitored to ensure that the operation is free from bottlenecks and major disruptions. As we know, a firm may adopt not just one operations strategy, but several.. For example, Tesla’s operations strategy might involve a plan of action to target developing countries with an even cheaper model. This strategy will support the firm’s business (competitive) strategy which might be aimed at capturing this market before other players do. Develop appropriate performance indicators to effectively track monitoring, control and continuous improvement of the company operations.(Performance indicators might include for eg, the use of SPC model as well as establishing KPIs. These can be explored and will assist in letting the business know if it is improving or not. Benchmarking can also be applied) [20 marks]
4. Critically discuss the role of management information systems in assisting strategic goals( Firstly, students are encouraged to define the concept of an MIS system. See helpful link here : Journal on MIS ; Journal #2 on MIS. Students should also make reference to firms that have used it successfully , even referring to the firm of your choice if possible. In the event that you are unaware of your firm’s IT / MIS due to non disclosure online, you are encouraged to discuss ways in which MIS can benefit their operation / strategic goals etc .Since its a discussion, challenges in using such platform can also be mentioned in the firm or otherwise) and operational processes success in your chosen organization (.MIS have been able to streamline business and operations processes by for example, heightening communication and collaboration between both internal and external stakeholders). You should critically evaluate the role of ICT applications in supporting as well as enhancing the operations management in the chosen organization (On the issue of ICT, discuss, through examples, how ICT has supported and improved the firm’s operation ) ; and thereafter analyse the actual requirements, appropriate methods, technologies, including use of Artificial Intelligence, that will help in optimisation of the operational processes of the organization. ( several issues can be discussed here. Culture or a culture that is willing to adapt to new tech is a good start ; capital availability; compatibility with existing platforms , teamwork; management support ; external infrastructure to support the platform – for example internet speed and bandwidth. Feel free to think of other points and expand on it by mentioning the technology that the firm can use. For example , robots to deliver and manufacture )[20 marks]
MIS BENEFITS ; MIS Boosting corporate performance . Drawbacks of MIS ; MIS challenges and solutions.ICT Benefits ; Walmart uses technology ICT Benefits ; Walmart uses
5. Finally, analyse the methodologies and scheduling tools you would like to use to develop the project specifications, schedule, control and evaluation to effectively implement and manage the project successfully. Conclude the report with your final findings and analysis, as well as evaluating the contribution of project leadership to effectively bring about the change and manage all stakeholders’ expectations. [20 marks]
This question isn’t necessarily linked to the rest of the report discussed earlier. However, if you did recognise some operational challenges, a project approach might be able to resolve them. You can also ignore this and come up with a completely new project.
So lets start : to develop a project plan there are several things you can do. So if my project involves the installation of new software I will include or consider the following methodology inclusive of a schedule plan :
? Project objectives ( must be specific to the project. for example, cost, quality, time, performance)
? Organization’s objectives For eg (automating of system for operations efficiency)
? Project scope ( for example : software must be implemented within specified contract time and required quality , or to install , train staff and go live in 6 months. To add, saying ‘why’ and ‘how’ the project goals are going to be achieved)
? Project assumptions ( for example, an early start of the project which can be seen as a positive assumption ; reduced project cost for example, cost of overheads. One negative assumption might be a late start of the project or cash flow challenges)
? Project roles and responsibilities. ( for example, who will be assigned to what. For example, it is expected that a project manager will be appointed, a project engineer and anyone else you see fit. Students must describe their roles as well)Power users are also expected for such installation.Steering committee can be included
? Timeline with Gantt charts as well as a WBS ( with detail month by month or quarter by quarter the progress of the work and what should be done)
? Risk management (make sure to present a risk management template)
? Stakeholder management ( internal and external stakeholders. they must be managed. basically this is all about communicating with all of them)
? Gantt chart
? WBS / PLC
? Project funding
? Other areas can be discussed ( TQM philosophy)
Contribution of project leadership towards successful change management : will address change resistance issues ;it will aid in effectively communicating with all stakeholders, addressing their immediate concerns and so on . Other points can discussed
(students should refer to the project template provided as a guide)
6. Kindly note that you should present the whole report written well in a good format, and which makes good use the Harvard Referencing System (HRS). [10 Marks]
Notes
? Please begin with a Table of content section
? The chosen organization should be FedEx Corporation
? Under section no.2, please provide Introduction of Fedex from the company site itself.
? The document should be Harvard referenced, Font size 12 and Times new Roman.
? Please provide relevant diagrams and illustrations with the appropriate citations (source name/link)
? The links under References in the end, should be in the order the paragraph flows and not A to Z
? I have attached a sample assignment for the expert to get an idea about the expectations. Please do not copy anything from the sample document.
Performance Descriptors
Performance descriptors indicate how marks will be arrived at against each of the above criteria. The descriptors indicate the likely characteristics of work that is marked within the percentage bands indicated.
Assessment Criteria
TASK 1 (70-100%)
Work of an outstanding, excellent & v. good standard (*) (60-69%)
Work of a good standard. (50-59%)
Work of a pass standard. D (40-49%)
Fail E (0-39%)
Fail
Executive Summary, Introduction and OM practices
(30 %)
A critical overview with the help of Executive Summary. Bring out relevant authors, rival theories, and major debates in Operations Management to a very good, possibly excellent (even outstanding) standard. References beyond those identified in session sources. Introduction should explicitly bring out OM challenges faced by the organisation and review three OM principles with a clear brief description of the relevance of such principles in the context of the chosen organisation. A synthesized overview of the Executive Summary, where good use of existing academic work and evaluation of main work is given out coherently. Some review of relevant authors, rival theories, and major debates in Operations Management. Appropriate range of references are utilized.
Introduction should bring out good relevant OM challenges faced by the organisation and review three OM principles with a brief description of the relevance of such principles in the context of the chosen organisation. A reasonable overview of the Executive Summary, where satisfactory summary is given of the whole produced work. There is evidence of engagement with pertinent issues in Operations Management. Key authors & major debates are presented. Evidence of suitable basic reading.
Introduction should bring out satisfactorily OM challenges faced by the organisation and review three OM principles Limited overview of Executive Summary. The work may be an overly descriptive account demonstrating only minimal interpretation, and very limited presentation of the whole summary. No counterarguments or alternative frames of reference are generated or considered.
Introduction is not satisfactorily bringing out OM challenges faced by the organisation and review three OM principles. Confused overview of Executive Summary. Fundamental misconceptions of how to write an Executive Summary. The work is mainly descriptive and shows little or no understanding of summary requirements. Too few references to appropriate literature and no evidence of independent thought and/ or criticality.
Introduction is very sketchy and does not satisfactorily bring out OM challenges faced by the organisation and does not review three OM principles. A description of the relevance of OM principles has not been provided.
Literature Review Analysis & Application of OM strategy, Quality Management & Supply Chain Network Design
(30%)
Demonstrates a clear understanding of literature reviewed from good academic resources, peer reviewed articles and journals. Critical analysis done well in respect to application of OM strategy, Quality Management principles and Supply chain network design frameworks.
Clear evidence of independent thought and very effective use of academic frameworks in order to analyse the case scenario. Demonstrates a good understanding of literature reviewed from academic resources. Good analysis done well in respect to application of OM strategy, Quality Management principles and Supply chain network design Examples of effective use of academic frameworks in order to analyse the case scenario. Examples of sound argument and solid evidence. Demonstrates a satisfactory understanding of literature reviewed from academic resources. Some analysis done in respect to application of OM strategy, Quality Management principles and Supply chain network design. The work explores and analyses issues, but is not strong on application to the case organisation. The work is mainly descriptive, but has achieved all the performance criteria. The work may be an overly descriptive account demonstrating only minimal interpretation of the literature, and very limited evidence of analysis, synthesis or evaluation. Fundamental misconceptions over analysing the case in the context of relevant academic thinking. Limited analysis of a superficial nature only lacks any attempt at analysis, relying on description instead.
Information Management systems in relation to Operations Management (20%)
An ability to successfully synthesize theoretical issues into practice and evaluate the possible implications and role of Information Management systems in relation to Operations Management.. Ideas are presented in a succinct manner and conclusions are well reasoned which have relevance to the scenario. The work demonstrates a willingness to question and to explore issues and to synthesize theoretical perspectives and practical application within chosen case context of role of Information Management systems in relation to Operations Management. Some meaningful well-reasoned conclusions and attention given to lessons learned which have relevance to the scenario. The work demonstrates a competence to explore issues and to synthesize theoretical perspectives and practical application within chosen case context of role of Information Management systems in relation to Operations Management. Some helpful conclusions and acknowledgement of lessons learned. There may be little evidence of an ability to apply theoretical principles to the case scenario or a wider context of role of Information Management systems in relation to Operations Management. Conclusions unrelated to the scenario. Lessons learned either superficial or lacking. No application of theoretical principles to the case scenario or a wider context of brand management and new product development. Conclusions unrelated and confused or illogical and unsubstantiated. Lessons learned either superficial or lacking. Possibly no real attempt to address assignment brief in respect of actual questions asked.
Recommenda-tions & Conclusion
(10%) Well-organised, logical, fully supported by evidence, conclusions clear and arise from results/discussion; practical and feasible, with clear consideration of Artificial Intelligence to analyze operational requirements. Recommendations driven by good deductions from findings. Well-organised, logical, supported by evidence, conclusions fairly clear and arise from results & discussion; practical and feasible, with clear consideration of Artificial Intelligence to analyze operational requirements. Recommendations driven by decent deductions from findings. Reasonably well-organised, logical, generally supported by evidence, conclusions fairly clear and arise from results & discussion; practical and feasible, with un clear or weak consideration of Artificial Intelligence to analyze operational requirements. Recommendations not always driven by good deductions. Poor organisation; gaps in reasoning; some obvious conclusions omitted for the list; other conclusions not especially driven by the findings but from ‘common sense’. No real implications and recommendations weak and incoherent.
Assertions little related to evidence, frequently illogical or arbitrary; conclusions if presented are disorganized; alternatives not considered; no real understanding of the need to draw conclusions, implications and recommendations from results.
Presentation (10%)
A balanced, well-structured case, generally coherent in approach. Well-written, well presented and largely free of spelling and/or typographical errors. Breadth of appropriate, current, and relevant references and correct application of the Harvard Referencing Method. A balanced, well-structured case. Overall clear well-written, well presented. Some small repeated errors in grammar. Good application of Harvard referencing system. Breadth of appropriate, current, and relevant references and almost correct application of the Harvard Referencing. Case is cohesive, but may be hindered by inappropriate balance, structure or writing style. Some small repeated errors in referencing or grammar. Current and relevant references and correct application of the Harvard Referencing Method. Whilst some of the characteristics of a pass have been demonstrated, the work does not address the case requirements overall. Possibly lacking in balance, structure or writing style. Some repeated errors in referencing and/or grammar. Limited use of references. Significant failings in case balance, structure or writing style. Repeated possibly significant errors in referencing and/or grammar. Critical failings in case balance. Possibly lacking in coherence is unstructured and/or is badly presented
Tag: operations
Write a 1-page memo to your company’s top management, explaining the implementation process for transferring appropriate Swedish employment practices across your global operations to create a High Performing Global Organization. Be sure to explain why your suggested implementation process works.
Must have references
Assessment CoversheetUnit/s Assessed FNSACC313 Perform Financial Calculations
Assessment Name FNSACC313 Assignment
Type of Assessment
This summative assessment will enable your assessor to make a judgement of competency based on the submission of your completed assessments against the requirements of the unit/s of competency in this module.
Benchmark
The Assessment Benchmark developed for each unit of competency is the evidence criteria used to judge the quality of performance (i.e. the assessment decision-making rules). Assessors use these benchmarks to make judgements on whether competency has been achieved and to determine if you have performed to the standard expected to meet the unit requirements.
Reasonable Adjustment
Where appropriate Monarch Institute will allow flexibility in the way in which each unit is assessed based on the needs of an individual.
Assessment Coding
Assessment of this course is based on competency-based principles.
S = Satisfactory
NS = Not Satisfactory
If you fail to perform satisfactorily for the assessment in the prescribed way you may be assessed as ‘Not Satisfactory’. You are required to be assessed as ‘Satisfactory’ in all assessments for each unit of competency.
Re-assessment
Your assessment can be submitted after you have reviewed the learning materials and practiced enough to feel confident in your resubmission. You have two weeks from your last submission feedback to resubmit. You are re-assessed in only the areas where your assessor has indicated you were initially assessed as NS. It is at the assessor’s discretion to re-assess the entire assessment should an overall understanding not be demonstrated. When you are re-assessed as ‘satisfactory’ after re-submission you will achieve competency for this assessment.
Declaration of Understanding and Authenticity
I acknowledge the assessment process has been explained and agree that I am ready to undertake assessment. I am aware of where to find the assessor’s feedback for the assessment. I am aware of the appeals process, should the need arise. I also understand I must be assessed as ‘satisfactory’ in all parts of the assessment/s to gain an overall competent result for the unit/s of competency. If I am found to be NS after a second attempt, it is at the assessor ‘s discretion whether I may be permitted one final attempt. I am aware that a ‘not competent’ final outcome means I may incur fees for re-enrolment in the unit/s.
I certify that the attached material is my original work. No other person’s work has been used without due acknowledgement. I understand that the work submitted may be reproduced and/or communicated for the purpose of detecting plagiarism. I understand a person found responsible for academic misconduct will be subject to disciplinary action (refer to Student Information Guide).
* I understand that by typing my name or inserting a digital signature into this box that I agree and am bound by the above student declaration.
Student Name*: Date:
Submission instructions:
1. Complete the Declaration of Understanding and Authenticity (above).
2. Once you have completed all parts of the assessment login to the Monarch Learning Management System (LMS) to submit your assessment.
3. In the LMS, click on the link to ‘Submit [assessment name]’ in your course and upload your assessment files. Click save and then click submit assignment
4. Please be sure to click ‘continue’ after clicking ‘submit assignment’.
Assessment Activities
Calculation and Short Answer
Mathematical techniques and methods of calculation
Activity instructions to candidates
• This is an open book assessment activity.
• Students should use a hand held calculator and/or software to perform calculations.
• You are required to read this assessment and answer all questions that follow.
• Please type your answers in the spaces provided.
• Estimated time for completion of this assessment activity: 2 hours
The following questions are based on the material in the textbook -Perform Financial Calculations- by Patrick Lynch
Question 1
Perform the following calculations:
a. 15 + 5 x 5 =
b. (6 + 4) x 2 =
c. (4 + 2 – 1) x 9 =
d. 14 – 4 x 3 =
e. (9 – 7) x 4 =
f. 11 – (– 4) =
g. 36 – (6 + 20 – 30) =
h. 14/6 x 6/28 =
i. 5/4 x 16/30 =
j. 2/5 ÷ 8/9 =
Question 2
Use the order of computational operations rule to help you complete the grid:
8 X ÷ 6 = 12
X – X
+ 4 ÷ = 7
÷ + –
2 + – 5 = 4
= 12 = 12 = 1
Question 3
Perform the following calculations:
( a ) Convert to a percentage:
( i ) 1/5
( ii ) 1/4
( iii ) 3/4
( b ) Convert to a fraction:
( i ) 33 1/3%
( ii ) 80.0%
( iii ) 37.5%
( c ) Convert to a decimal:
( i ) 35%
( ii ) 1/4
( iii ) 60%
Question 4
Find the value of X in each of the following independent expressions:
a. 3X + 7 = 10
b. 5X – 5 = 20
c. (2X) / 4 = 2
Question 5
An item costing $20 is to be marked up by 50%. What is the selling price?
Question 6
An item selling for $130.00 has been marked up at 60% on cost. What was the cost price?
Question 7
The profit margin on an item is 20%. If the item sells for $50 what did it cost?
Question 8
Mary makes a gross profit of 50% on sales. If her Cost of Sales for the month was $30,000, what were total Sales?
Question 9
A clothing retailer marks shorts down to 12% below cost to clear them. The cost to the retailer was $20 per pair. She has 40 pairs of the shorts left.
(a) What is the new selling price of the shorts?
(b) Assuming that all the shorts are sold, what is the total profit or loss that the retailer makes on the total sale? (Be certain to indicate if profit or loss).
Question 10
An item with an initial list price of $100 is discounted by 10% and then later that a discounted price is discounted by a further 20%. What is its new price after all discounts?
Question 11
( a ) A retailer offers a trade discount of 30% and a cash discount of 10%. If a tradesperson pays cash of $315 for goods:
( i ) What was the list price of the goods bought?
( ii ) What is the percentage saved?
( b ) Mo earns a monthly retainer of $1,000 plus 10% on all sales.
( i ) How much will Mo have to sell in a month in order to earn $4,000?
( ii ) What are Mo’s net earnings for the month? Tax is withheld at the rate of 33 1/3%.
Question 12
Ken is offered a choice of two alternative earnings packages:
Package 1 is commission only, at 20% on all sales.
Package 2 is a monthly salary of $1,000 plus commission of 10% on all sales.
( a ) If Ken expects to make monthly sales of $30,000, under which package would he earn more money? (Show your calculations).
( b ) At which monthly sales level would it make no difference which earnings package he chooses? (Show your calculations).
Question 13
( a ) If the GST payable on a computer is 10%, how much tax is payable on a computer with a GST inclusive sale price of $3,300?
( b ) The cost price to the retailer of an item is $4,400. If this figure includes tax of 10%, what is the price before tax of the item?
Question 14
a) Calculate the value in 6 years of an investment of $1,000 earning 7% simple interest per year.
b) If an investment earning simple interest of 6% p.a. is today worth $1,568, what was the initial investment 2 years ago?
c) How long would you need to invest $800 at a simple interest rate of 5% to earn interest of $400?
d) A sum of $1,200 grows to $1,560 after 5 years. What rate of simple interest is this investment earning?
e) What is the value at maturity (future value) of a $2,000 (present value) investment over 120 days at 5% p.a.? (Assume 365 days in a full year).
f) What is the face value (present value) of an investment at 8% p.a., if at maturity (future value) in 180 days it will be worth $10,394.53? (Assume 365 days in a full year).
Question 15
Using compound interest calculations, determine and replace the missing value (indicated by the ‘?’). (You can use a financial calculator, internet calculator, formulae or a spreadsheet).
Present Value Future Value Interest Rate Period (years)
a. $5,000 ? 8% 5
b. $7,000 $14,000 ?% 8
c. $9,000 $18,000 6% ?
Question 16
Ben and Karen disagree on how many years it would take for $1,000 to accumulate to $1,814.02 if it earned 6% p.a. paid quarterly? Ben believes it would take 10.22 years. Karen says it will take only 10 years.
As the financial expert, your organisation requires you to check their calculations for any computation errors and explain who is correct and why.
Tip: Refer examples in Chapter 3.2 of your textbook, Solving for I and N.
Ben and Karen used the following parameters to perform their financial calculations:
Ben used:
i = 6% p.a.
PV = $1,000.00
FV = $1,814.02
Therefore Ben calculated it will take, n = 10.22 years
Karen used:
i = 6% p.a. / 4 = 1.5% per quarter
PV = $1,000.00
FV = $1,814.02
Therefore Karen calculated it will take, n = 40 quarters, that is 40/4 = 10 years.
( a ) Which answer is correct?
( b ) What is the error with the incorrect calculation? Explain why it is wrong.
Question 17
What interest rate is an investment earning if it grows from $2,000 to $2,960.49 in 5 years with interest paid twice per annum?
Question 18
How many years would you need to invest a sum of money at 10% p.a. in order for it to double in value with interest paid quarterly?
Question 19
Given the annual interest rate of 10.00% per annum, what is the effective rate if the compounding period is:
( a ) Monthly?
( b ) Daily? (Assume 365 days in year)
Question 20
( a ) Calculate the repayments on a loan of $18,500 repayable over sixty equal monthly instalments at an interest rate of 6.0% p.a.
( b ) A borrower is making semi-annual repayments of $4,000 on a loan at 9%, the loan being taken over 20 years. How much was the original amount of the loan?
( c ) Find the interest rate at which deposits of $250 at the end of every month for ten years will accumulate to $57,509.67.
( d ) How much should an investor deposit now, to produce an annuity of $10,000 per year, for ten years given an annual interest rate of 9%.
Question 21
You borrow $30,000 to be repaid in equal monthly instalments over 10 years. The interest on the loan is 12% p.a. (1% per month)
( a ) What is the monthly repayment?
( b ) How much would it cost to pay out the loan after 4 years? (Note: The payout figure is the amount owing on the loan, that is, the principal balance.)
( c ) How much interest is saved by paying out the loan after only 4 years?
Question 22
An asset which cost $15,000 on 1st January 2015 has an expected useful life of 10 years and a residual value of $1,000.
( a ) Calculate the depreciation charge per annum using the straight line method.
( b ) What will its written down value be on 30th June 2016?
Question 23
You are the accountant at Grenfeld Pty Ltd. Your firm’s depreciation policy is to depreciate its assets using the reducing balance method of depreciation. An item of plant, which cost $16,000 on 1st July 2015, is being depreciated at 25% per annum.
Calculate the missing values and complete the table:
Year ending Opening
Written Down Value Depreciation Charge (for this year) Closing
Written Down Value
30 June 2016 $ $ $
30 June 2017 $ $ $
Question 24
A business uses its motor vehicles for 200,000 kilometres, at which time they are sold. A motor vehicle costing $30,000 has an expected resale value of $5,000 after 200,000 kilometres.
What is the depreciation charged for a year in which the vehicle travels 90,000km?
Question 25
COSAB produces a product which has a unit variable cost of $8.00 per unit and a fixed cost of $100,000. Each unit has a selling price of $12.00.
Required: Determine the following, assuming 40,000 units are produced and sold:
( a ) Total variable costs
( b ) Total costs.
( c ) Revenue (only) from the sale of 40,000 units
( d ) Profit from the sale of 40,000 units
Question 26
Dell Co. sells its product at a unit price of $80.00, representing a mark-up of 60% on cost.
Required: Calculate the unit cost.
Question 27
Lou has started a new business selling roller blades. Each set of blades will cost $100 and will retail for $150. The annual rent is $5,000.
Required: Assuming that 100 units are sold, calculate and provide the following:
Sales $
Variable Costs $
Contribution Margin $
Fixed Costs $
Profit (Loss)
Note: you must state if profit or a loss $
Question 28
CalcCo sells calculators at a unit price of $60.00. The variable cost per unit is $20.00, with fixed costs of $160,000.
Required:
( a ) Sales breakeven in units
( b ) Sales breakeven in dollars
( c ) Complete the table for the following levels of activity:
Activity (units) 0 1,000 2,000 3,000 4,000 5,000 6,000
Total
Revenue $
Total
Costs $
( d ) In the grid provided, graph the revenues and costs for the respective levels of activity and indicate the breakeven point (be certain to label your graph curves and to mark the Breakeven Point)
You may prepare the grid in Excel and then copy it into the assignment. Or you may prepare the grid manually and then scan it to a PDF document
5-6 pages to complete below. Part Three is already completed (see attached)
Need to create a:
1. Introduction Section (1-2 paragraphs)
2. Conclusion Section (1-2 paragraphs)
3. Part One – Managing Operations (2-4 pages)
4. Part Two – Quality, Process and Location (2-4 pages)
Then combine Introduction Section, Part One, Part Two, Part Three and Conclusion Section into ONE file consisting of 10-12 pages combined (not including Cover and Reference page) to create the comprehensive case study analysis.
OVERVIEW:
Imagine that you are hired into the role of the Operations Manager at the company described in the case study (Nissan). Although there are many issues facing the compa Imagine that you are hired into the role of the Operations Manager at the company described in the case study (Nissan). ny, you have some experience and are well qualified to provide direction in solving these problems. Prepare a cohesive case study analysis for submission as one document.
The project is the creation of a comprehensive case study analysis. You will write a comprehensive analysis of the Nissan case study (see attached) that’s been analyzed throughout the course by addressing the critical elements below.
ASSIGNMENT:
You NEED to do Part One and Two below. Part Three has been already been completed (see attached). Part One, Two and Three need to be combined into one document to create the case study analysis.
Also need to be included is:
1. An Introduction Section: which provides an overview of the company and some of the key challenges that it is facing.
2. Summary /Conclusion Section: that highlights some of your most important recommendations for improving operations at the company
PART ONE: Managing Operations case study analysis, which evaluates how Nissan uses OM functions to provide products and generate value for its customers and how it achieves a competitive advantage using operations management, among other critical elements (Less than 4 pages- no minimum)
I. Generating Value
A. Evaluate how the company in the case study uses operations management functions to provide products and generate value for its customers.
i. Support your claims with examples from the case study or outside sources.
B. Assess how this company achieves a competitive advantage using operations management.
i. Provide examples found in the case study or outside sources to support your reasoning.
C. Compare and contrast service operations and manufacturing operations at the company in the case study.
i. How are they the same?
ii. How do they differ?
iii. How does each of these operations provide value for their customers?
II. Theories and Techniques
A. Compare and contrast the critical path method (CPM) and the program evaluation and review technique (PERT).
i. What types of projects at this company would favor PERT over CPM? Why?
ii. What types of projects at this company would favor CPM over PERT? Why?
B. Explain the steps used to develop a forecasting system.
i. How would these steps be specifically utilized by this company?
ii. What do you predict would be the result of implementing a forecasting system for the top-selling product line at this company?
C. List the major categories of supply chain risk and associated risk reduction tactics.
i. How could the company mitigate exposure to supply chain disruptions caused by natural disasters?
1. For example, consider the 2011 earthquake and tsunami that devastated parts of Japan.
PART TWO: Quality, Process, and Location case study analysis that addresses the typical problems that operations managers face. (Less than 4 pages- no minimum)
I. Theories and Techniques
A. Explain the five steps of the theory of constraints (TOC) process.
i. To what processes might the company in the case study apply TOC?
ii. Why would applying TOC to these processes be advantageous?
B. Describe how total quality management (TQM) principles and tools can be used to improve quality in the latest line of products in the context of the case study.
II. Data Analysis
A. Draw a cause-and-effect diagram that assesses why some of the company’s supply chain partners might have struggled to implement some of the company’s newly developed materials.
i. Summarize your findings from the diagram.
B. Draw a hypothetical process (time-function) map for producing a recently released (within the past two years) product manufactured by the company.
i. As an operations manager, how will you use the value map?
ii. Be sure to include your process map within your case study analysis.
C. Considering the data and options below, determine where the company should locate its new manufacturing plant.
i. Explain why this would be the favorable location.
Factor Weight Mexico City Columbia, SC
Political Risk .25 70 80
Transportation Costs .20 40 90
Labor Productivity .20 85 75
Rental Costs .15 90 55
Labor Costs .10 80 50
Taxes .10 90 50
D. The company believes that it might have some inefficiencies in its inventory management process.
i. Develop an ABC classification system for the following 10 items.
ii. Based on this information, what do you recommend for improving inventory management?
Item Annual Demand Cost/Unit
I5 1750 $10.00
D1 6000 $10.00
A2 3000 $50.00
E9 1000 $20.00
J8 2500 $5.00
C7 1500 $45.00
B8 4000 $12.00
G2 300 $1500.00
H2 600 $20.00
F3 500 $500.00
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