MOCK 1 B ANSWERS- COLLOSAL PDF
| Title | MOCK 1 B ANSWERS- COLLOSAL |
|---|---|
| Author | Anonymous User |
| Course | Strategic Business Leadership (SBL) |
| Institution | Association of Chartered Certified Accountants |
| Pages | 10 |
| File Size | 284.8 KB |
| File Type | |
| Total Downloads | 67 |
| Total Views | 131 |
Summary
MOCK 1 B ANSWERS- COLLOSAL ...
Description
ACCA–SBL StrategicBusinessLeader September2019toJune2020 ColossalEngineering–Mock1(b)
Togainmaximumbenefit, donotreferto theseanswers until you have completed the consolidation test questionsandsubmittedthemformarking.
S BL :STR ATE GIC B U SINE SS L E AD E R
©KaplanFinancialLimited,2019 All rightsreserved.Nopartofthisexaminationmaybereproduced or transmittedinanyformor byanymeans,electronicormechanical,includingphotocopying,recording,orbyanyinformation storageandretrievalsystem,withoutpriorpermissionfromKaplanPublishing. Thetextinthismaterialand anyothersmadeavailableby any KaplanGroupcompanydoesnot amounttoadviceonaparticularmatterandshouldnotbetakenas such.Noreliance shouldbe placedonthecontentasthebasisforanyinvestment orotherdecision orinconnectionwithany advice given to third parties. Please consult your appropriate professional adviser as necessary. KaplanPublishingLimited andallother Kaplangroupcompaniesexpresslydisclaimallliabilityto any person in respect of any losses or other claims, whether direct, indirect, incidental, and consequentialorotherwisearisinginrelationtotheuseofsuchmaterials 2
K AP L ANP U B L ISH IN G
CON SOL ID ATION TE STAN SW E R S
Keyanswertips
Timemanagementiscritical
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You will have four hours (240 minutes) to read and analyse the case study and requirements, plan your approach to answering each of the tasks, and produce full answerstothemall.
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The examiners' recommended approach is that you allocate 40 minutes to RPRT – reading and annotating the case, leaving 200 minutes for planning and writing up youranswers.
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Giventhe20professionalmarksareearnedhowyouwriteyouranswers(ratherthan writing anything extra), this means 200 minutes for 80 technical marks, or 2.5 minutespertechnicalmark.
Usingthereadingtime(RPRT)effectively
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Your objective here is to read and understand the scenario and requirements fully within40minutes.
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Start by reading the requirements, sothat whenyou read through 12or more pages of exhibits, you can evaluate the information and link all pieces of relevant informationtotherequirements.Asyoudothis,startthinkingabouttheimplications ofwhatyouarereading,andmentallycompileabigpicture oftheorganisationand theissuesitiscurrentlyfacing.
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The exam you will be sitting is (currently) paper‐based so you should highlight and annotate those areas of text that you consider to be useful to answering the questions,linkingthemtothedifferentrequirements.
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Weaker candidates annotate far too much, so tryto beselectiveand prioritise issues asyougoalong.
Planninganswers–startbyanalysingtherequirementitself:
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Whatroleareyouadopting?
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Whoisthereportforandwhatdotheywant?
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Whatverbshavebeenusedtoexpresstherequirement?
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Arethereanylimitationsofscopehighlighted?
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Arethereanykeyissuesmentionedthatneedaddressing?
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Areanycalculations,ratiosorotherquantitativeanalysisrequired?
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Doesthequestionlenditselftotheuseofaspecifictheoreticalmodel?
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Whichprofessionalskillisbeingexplicitlytested?
Writingupaplan:
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Set up key headings ‐ these should now be obvious from the wording of the requirementandthechoiceofmodel(ifany).
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Fill in key issues under the headings, firstly from what you remember and then by lookingagainatyourannotationsontheexampaper.
K AP L ANP U B L ISH IN G
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Earningprofessionalskillsmarksasyouwriteupyouranswers
Todemonstrateprofessionalismandearnskillsmarksyouneedtodothefollowing:
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Addresstherequirementsaswritten,takingparticularnotice(again!)oftheverbsused
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Make sure you include the most important, relevant and crucial points relating to the requirement.
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Only make relevant points and try not to include superfluous information or make unsupportedpoints.
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Show deep/clear understanding of underlying or causal issues and integrate or link differentsourcesofinformationfromvariouspartsofthescenarioordifferentexhibitsto makepoints
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Avoidrepeatingpointsalreadymade.
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Showyourabilityto prioritise andmake points ina logical andprogressive way, building arguments rather than using a random or ‘scattergun’ approach to answering the question.
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Structure and present your answers in a professional manner through faithfully simulatingthetaskaswouldbeexpectedoftheperson beingasked to carryit out and alwayshaveaclearstakeholderfocusinmindwhenconstructingtheanswer.
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Demonstrateevidenceof yourknowledgefrompreviouslearningor widerreading and apply this knowledge appropriately to strengthen arguments and make points more convincing.
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Inaddition to beingclear, factual andconcise,youshouldexpress yourself convincingly, persuasivelyandwithcredibility.
Alwayskeepyoureyeontheclockanddonotoverrunonanypartofanyquestion!
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CON SOL ID ATION TE STAN SW E R S
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Report To:TheChairoftheRiskCommittee From:SpecialProjectsAssistant Date:Today IMF–Risksandtheirmitigation Asrequested,herearemyviewsontheIMFproposalfromaRiskManagementperspective. RISKS Note: Any eight risks, with ‘evaluation’ as required, are sufficient to earn full marks. The followingrisksarepresentedinthesequenceinwhichtheyappearintheExhibit. RisksrelatingtotheIMFproposalhavebeenevaluatedintermsofimpactandprobability asfollows: 1
Integratedmanufacturingmayrestrict(oreliminate)theabilityofWintertoproduce small batches or specialist jobs. Such work may be very lucrative, so revenue and profitmaybelost.HIGHIMPACT,LOWPROBABILITY.
2
ThereplacementofexistingmachinesmayreducetherangeofproductsthatWinter is able to produce. This could lead to Winter turning away potentially profitable orders.HIGHIMPACT,LOWPROBABILITY.
3
Thosemachinesthathavenotyet beenfullywrittendownmaynotbedisposedof for their book value. This would lead Winter to suffer a loss on disposal. LOW IMPACT,HIGHPROBABILITY.
4
Someorallofthemaintenancecostsmaybefixed,particularlythestaffcosts.There may alternatively be termination costs associated with any staff reduction. As a result,theforecastsavingsmaynotberealisedorcostsmayhavebeenomittedfrom thecashflowforecast.HIGHIMPACT,HIGHPROBABILITY.
5
Borrowing from Colossal may turn out not to be as cheap as expected. This may reduce or even eliminate any shareholder value added by the investment. HIGH IMPACT,LOWPROBABILITY.
6
The predicted volume of ‘large batch’ orders may not materialise. Integrated Manufacturingis,bydefinition,not ‘flexible’.Set‐upcostsforsmall batchesmaybe higher than at present, leading to the project failing to deliver the predicted shareholdervalue.HIGHIMPACT,HIGHPROBABILITY.
7
Costleadershipmaynotbeachieved,particularlybearinginmindthelevelofcheap ‘foreign’ competitors. Winter may be drawn into price wars, sacrificing profit and failingtoachievetheforecastreturns.HIGHIMPACT,HIGHPROBABILITY.
8
FFS may not be the best value‐for‐money supplier. This will introduce opportunity costtothecashflows.HIGHIMPACT,HIGHPROBABILITY.
9
FFS may lack the skills and competences to fulfil the order, leading to delays or a completefailuretosupply.HIGHIMPACT,LOWPROBABILITY.
10
ThesuppliersofFFSmayfailtodeliverontime.Thiswouldleadtodelays(whichlose cashflows)and/orcostoverruns.HIGHIMPACT,HIGHPROBABILITY.
11
FFS may lack the competences to develop the control software. The IMF may not functionasanticipated,oratall.HIGHIMPACT,LOWPROBABILITY.
K AP L ANP U B L ISH IN G
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12
Itmaynotbepossibletofullyintegratemachinesfromdifferent suppliers.Thismay leadtodelays,orevenfailureoftheIMF.HIGHIMPACT,HIGHPROBABILITY.
13
FundsmaynotbeavailablefromColossal,andthey mayprohibitWinterfromraising finance,iftheproposaldoesnotmeettheirown criteriaorfitwiththeirstrategyfor Winter. This would lead to cancellation of the project, and all costs incurred being writtenoff.HIGHIMPACT,LOWPROBABILITY.
14
FFSmaynotbeabletoinstalland commissiontheIMFinonemonth. Notonlywill thisdelaycashflows,butitwillalso disruptanyplannedproductionin otherpartsof Winter.HIGHIMPACT,HIGHPROBABILITY.
15
It may not be possible to get the proposal authorised by 30 June, particularly as it requires approval by Colossal. This would lead to disruption and a failure to install andcommissiontheIMFduringAugust.HIGHIMPACT,HIGHPROBABILITY.
MITIGATINGTHERISKS Note:Thefollowingarematchedtotherisks identifiedabove bynumbering.Itwouldalso have been acceptable to ‘pair’ each risk with a suitable method of mitigation. Valid alternativesexist,inmanycases,whichwouldgaincredit.
6
1
If not already done, a feasibility study should be carried out into Flexible Manufacturing, rather than Integrated Manufacturing. The cash flows for the two options should be compared. Flexible Manufacturing would avoid the risk of not beingabletoproducesmallbatches.
2
Forecasts, and the underlying assumptions, should be independently verified. Internal (orexternal)auditorsshouldbeaskedimmediately. This wouldallow usto assesstheprobabilityoftherisk.
3
Disposalvalues(andcosts)shouldbeindependentlyverified,andestimatesupdated. Internal (or external) auditors should be asked immediately. This would reduce the impactoftherisk.
4
AssumptionsshouldbeverifiedbytheHRfunction.Thiswouldallowustoassessthe impactoftherisk.
5
An outline submission should be sent to Colossal immediately. Staff should check investmentauthorisationproceduresandcriteria.This wouldallowustoassessthe impactoftherisk.
6
Forecasts, and the underlying assumptions, should be independently verified. Internal (orexternal)auditorsshouldbeaskedimmediately. This wouldallow usto accuratelyassesstheprobabilityandimpactoftherisk.
7
The Board should confirm whether a cost leadership strategy is desirable. The underlying assumptions should be independently verified. Internal (or external) auditorsshouldbeaskedimmediately.Thiswillallowustodecide whethertoavoid therisk.
8
Thesupplyshouldbe putouttofullcompetitivetendering,asamatterofurgency. Note–thismaydelaytheimplementation,butshouldstill bedone.Thiswouldallow ustoreducetheprobabilityoftherisk.
9
Internal audit should carry out due diligence, on whichever supplier is chosen. Asuitable clause should be included in any supply contract or service level agreement. This would allow us to reduce both the probability (due diligence) and impact(contractterm)oftherisk.
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CON SOL ID ATION TE STAN SW E R S
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Internal audit should carry out due diligence, on whichever supplier is chosen. Asuitable clause should be included in any supply contract or service level agreement. This would allow us to reduce both the probability (due diligence) and impact(contractterm)oftherisk.
11
Internal audit should carry out due diligence, on whichever supplier is chosen. Asuitable clause should be included in any supply contract or service level agreement. This would allow us to reduce both the probability (due diligence) and impact(contractterm)oftherisk.
12
Competitive tendering should favour suppliers offering machines from a single manufacturer,and/orwithprovenintegrationfeasibility.Asuitableclause shouldbe included in any supply contract or service level agreement. This would allow us to reduce both the probability (competitive tendering) and impact (contract term) of therisk.
13
An outline submission should be sent to Colossal immediately. Staff should check investmentauthorisationproceduresand criteria.Thiswouldallowustoreducethe impactoftherisk.
14
Suitableclausesshouldbeincludedinanysupplycontractorservicelevelagreement, covering timescale and damages for late commissioning. This would allow us to reduceboththeprobabilityandimpactoftherisk.
15
Implementation should be delayed until the next factory shutdown. This may be Christmas2018.Thiswouldavoidtherisk.
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MARKINGSCHEME Technicalmarks 3
a
Up to 2 marks for each relevant risk: ½ mark for the risk trigger; ½ mark for the effectonWinter;1markforareasonableevaluationofprobabilityandimpact. (Uptoamaximumof16intotal)
b
Upto2marksforeachrelevantmethodofmanaging ormitigating eachrisk:1 for the mitigation method; 1 for justification. Alternatives should be rewarded, as shouldactionstoavoidrisks.Solutionsshouldbespecificandpractical. (Uptoamaximumof16intotal)
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CON SOL ID ATION TE STAN SW E R S
Professionalskillsmarks Howwellhasthe Notatall candidate demonstrated professional skillsasfollows:
Notsowell
Quitewell
Verywell
3(a)
Thecandidate hasfailedto demonstrateany scepticism regardingthe opinionsand assertionsmade. Thecandidate demonstratedno evidenceof challengingor questioningthe statementsor opinionsofthe ProjectManager.
Thecandidate has demonstrated some,but limited, scepticism regardingthe opinionsand assertionsmade bytheProject Manager.The candidate questionedsome ofthe statements. However,other assertionswere notchallenged.
Thecandidate has demonstrated scepticismofthe opinionsand assertionsmade bytheProject Manager.The challengeofthe Project Manager’s opinionswas reasonably sound.
Thecandidate has demonstrated deepscepticism oftheopinions andassertions madebythe ProjectManager. Thecandidate strongly questionedthe validityofthe opinionsina professionaland justifiedmanner.
0
1
2
4
3(b)
Thecandidate has demonstratedno commercial acumen.The candidatehas merelyrestated theinformation presented,or proposed infeasible solutions.
Thecandidate has demonstrated somecommercial acumen.The candidatehas demonstrateda limited commercial awarenessand somesolutions aretoogeneric orunworkable.
Thecandidate has demonstrated somesound commercial acumen.The candidatehas proposed practical solutionswhich areoccasionally unworkable.
Thecandidate has demonstrated excellent commercial acumen,using theexhibits providedto demonstrate solutionsfor Winter.
0
1
2
4
Scepticismskills inquestioning theopinionsand assertionsmade inthenotes
Commercial acumenskillsin proposing workable solutions
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Notes:
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K AP L ANP U B L ISH IN G...
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