112?APM?2019?3成為自己的41APM 加分 語法和拼寫問題原則上不影響得 OwnFigureRule(OFR會因為同一個錯誤影響兩次得51APM 4Professionalmarks1mark：Reportheading111mark：Tone,logicalflow,persuasivenessand61APM71APM 論點務(wù)必要有論據(jù)支撐，否則不得“Thereportshouldhavemorenarratives”-0mark“ThereportshouldhavemorenarrativesBECAUSEithelpstodrawattentiononkeyissuesandprovidecomprehensiveinformationwhichmaynotbeexpressedinnumbers.”-1mark81APM 的案例信息不得 背誦的理論定義不得分（除非題目要求“Hehasheardofthe3Es(economy,efficiencyandeffectiveness)butneedsanex ofthesethreeheadingsandhowthislinkstotheworkonCSFsandKPIsalreadyrequested.” 結(jié)合案例信息應(yīng)用理論知識才可得“Non-financialmeasuresareleadingindicatorswhichcanhelptoachievelong-termfuturefinancialperformance.ThiswouldbeusefultoZones,whichhashadexcessivefocusonfinancialobjectivesandinadequatesystemstomeasureandmanageperformanceoftheunderlyingprocessesdrivingfinancialperformance.”92019

相關(guān)知識點補充練習(xí)建Q1

performance Required:Itisnow1SeptemberWriteareporttothechiefexecutiveofficer(CEO)ofArkaigtorespondtohisinstructionsforworkonthefollowingareas:theperformancereportingatArkaig;(11theintroductionofeconomicvalueadded(EVA?);(15theinformationrequestedontheperformancehierarchy;(10thevalue ysispreparedbytheconsultant.(10Professionalmarkswillbeawardedfortheformat,styleandstructureofthediscussionofyouranswer.(4marks)平均得分

(50Q1(i Marking1markperpoint–mustbebasedonscenarioinformationBreakingdownmission–upto2markse.g.identifypriorityofobjectives,pickoutstrategiesAssessmentofwhetherreportmeetsmission–upto11markse.g.Clearstatementofinadequacyformission,addressingelementsofthemission,informationforrelevantdecision-making,illustratedbyrelevantexamplesOtherpoints–upto4e.g.Lackofinformationinthecommentary,dataoverload,generalum11

uEvaluationoftheperformancereportisNOTevaluationofthe“Thereportmainlyprovidesprofit-basedmeasuressuchasnetprofitmargin,revenueandsoon.Revenuehasfallenbutsalesordershaveincreasedindicatinggrownmarketshareswhichindirectlyshowsgoodperformance. 0Marku“Theinformationonimprovedmachinedowntimeshouldbereflectedoncostreductionandincreaseonresearchanddevelopmentcosts.AlltheinformationofcostsarenotgiveninAppendix1.” 0mark “Finally,theappendix1onlyprovideslimitedinformationandlessexternalinformationtoevaluatetheperformanceofArkaig.Thecommentaryex insalldetailedindicatorsbuttheinformationseemslessimportanttoreflecttheperformanceofArkaig.Also,thechoiceofratiosandmetrics ynoroleontheperformance.Moreover,Arkaigdidn’temphasizeitsculturalin Appendix1justmentioned.”0標(biāo)答解 TheprimaryaimofArkaigisto iseshareholderwealthbyprovidingsuitableproductsforitscustomers.Theseproductsshouldhaveanumberofqualities:beworld-class;tailored;usetechnologyinnovatively;showimprovedmachinedowntime;andreduceenergyconsumptionforcustomers.Thisshouldbesupportedbyanentrepreneurialcultureamongtheemployees. Thetailorednatureoftheproductscouldbemeasuredbythecostofindividualdesignforeachinstallationorcustomersurveyresponses. Itishelpfulthatanarrativecommentaryisprovided.However,oftenthecommentarydoesnotgobeyondrestatingthefiguresinthetable.Itshouldprovidethesignificantex nationsforeachofthemajorchangescommentedupon.Forexample,bystatingwhytheROCEhasexceededtheindustryaverage.Q1(i)Evaluatetheperformance u對Mission進行拆解、復(fù)述——Easyu評估業(yè)績報告當(dāng)前所用的指標(biāo)體系是否能能夠反映mission/vision/objectives/CSF逐一分析到world-class,tailoredautomationsolution,technologyinnovation,improvedmachinedowntimeandreducedenergyconsumption，entrepreneurshipculture。如果業(yè)績指標(biāo)缺失或不恰當(dāng)，則應(yīng)該逐一提供有針對性的績效指標(biāo)并給u業(yè)績報告是否提供了充足的信息幫助做戰(zhàn)略規(guī)劃和決策。Strategicnning需要的外部、長期性的信息，如PES、競爭對手、trendysis等。Strategiccontrolling需要benarkbudget等信息。u業(yè)績報告的整體presentation，包括：信息是否過載，結(jié)構(gòu)分類等是否清晰，commentary是否有效地補充了數(shù)字信息的信息。Q1(iiMarkingAmortisationMarketingcapitalisedResearchanddevelopmentcapitalisedAccountingdepreciation1(forre cingwitheconomicdepreciation)Taxpaid1LosttaxreliefoninterestCapitalemployed1(foropeningfigure)Researchanddevelopmentasset1Marketingspendcapitalisedandw/off1WACC1EVA?CommentsonresultEvaluationofEVA?versusROCE–upto5 um15

Thebusinesshas$1.32bnofvalueinthelastyear.Thenetoperatingprofitaftertaxmorethancoversthecostofthecapitalusedbythebusiness.1mark u忽略Embeddedrequirement或只說了EVA的優(yōu)點,不夠充實“TheCEOwantstopresentthisideaatthenextboardmeetingandsoneedsanillustrativecalculationofEVA?alongwithabriefex nationofitsbenefitsasare cementforROCE.“標(biāo)答解ThemainbenefittoEVA?isitslinktotheoverallcorporateobjectiveof shareholderwealth.ROCEgivesamuchlessdirectlinktoshareholderwealthasitislesscash-likeandmoretiedtotheaccountingassumptionsaroundproducingaprofitfigure.ThebasictestofperformanceissimplesinceforEVA?ifitispositive,thenthebusinessisgeneratingareturnabovethatrequiredbytheprovidersoffinance.ROCErequiresatargetleveltobesetusuallybasedonben arkingtotheindustrysectorandthesettingofthistargetreturncanbesomewhatsubjective.EVA?encouragesinvestmentforthefuture(forexample,inadvertisinganddevelopment)byremovingsuchcostsfromtheperformanceperiodandtreatingthemlikecapitalexpenditure.Thiswillreducethedysfunctionaltemptationformanagementtoengageinsomeshort-termdecision-making,whichcanbeaproblemwiththeunadjustedcapitalemployedfigurefromthefinancialstatementswhichisusedinROCE.ThisisparticularlyrelevanttoArkaig,whereresearchanddevelopmentisasignificantactivity.EVA?isconsistentwithnetpresentvalue(NPV)asbusinesseswithanincreasingpresentvaluewillincreaseEVA?.ThiswillaidcommunicationasNPVisawidelyusedappraisalmeasureforbusinesses.Overall,however,thebetterlinktoshareholderwealthcreationandtheuseofEVA?inavalue-basedmanagementframeworkmaymakethisextracomplexityworthwhilefora MarkingEachlevelofthehierarchy–upto4e.g.ex nationofthenatureoftheinformationneeded,impactof nningandcontrollingactivityandillustrativeexamplesum10marks平均得分Q1(iii)embeddedu“hewantsyoutoprovidehimwithabriefdescriptionofthenatureoftheinformationrequiredforperformancemeasurementatthesethreedifferentlevelsanduex inhowthisinformationisinfluencedbytheextentofnningandcontrollingactivityateachofthelevelsoftheperformanceuHewantsexampleswhichwouldberelevanttoArkaigtoillustratethesepointsinorderthatthepresentationismademoreconcreteforthedirectors.”u不能準(zhǔn)確、全面地描述不同層級所需要信息的性質(zhì)u未提及nningandcontrolling對信息的影響；u寫的只是各個層級的活動，而不是信息的性質(zhì)u沒有舉例“Tacticallevelisusuallyinthemiddlemanagement,itusuallyfocusontheprocessexecutiveoftheOperationleveldecisionismoreinternalanddailyfocusondaily 0uMarkingGeneralpointsonvaluechainimplicationsanduse–upto3Specificpointsrelatingtotheareasofconcern–1markperrelevantpointInboundlogisticsOutboundAfter-salesserviceHumanresourcemanagementum10marks平均得分

EmbeddedTheCEOwouldlikeyoutoassesstheperformancemanagementimplicationsoftheconsultant’scommentsonthecriticalareasidentifiedforNote:Theareasnotedasnotcriticaldonotrequirecomment.managementimplication 標(biāo)答解Thevaluechainisamodelofbusinessintegrationshowingthewaythatbusinessactivitiesareorganisedandlinked，emphasisingthatitisactivitieswhichcreatevalueandincurcosts.Theremustbeaflowofinformationbetweenthedifferentactivitiesandacrossdepartmentalboundaries.分析顧問對Inboundandoutboundlogistics…oldwarehousinganddistributioninformationsystem.ForabusinesssuchasArkaigwhichaimstousetechnologyinnovatively,thiscouldleadtoinefficiencies.Astate-of-the-artsystemwouldbeintegratedwiththeproductionandsalessystemsandwouldallowbetterstockcontrolwithfewererrorsinpickinginventoryandreducedobsolescencewhileimproveddistributioncouldleadtofasterdeliverytocustomerswithreducedcostsoftransportation.標(biāo)答解分析顧問對after-salesservice的評論，對業(yè)績管理有何影響Theconcernregardingafter-salesservicemaybeduetoaninconsistencyinhavinganareawhichgeneratesasignificantamountofrevenuebutwhichrelatesinrealitytothefailureofreliabilityofthebusiness’products.Itwouldbeimportanttoidentifythatcustomers’attitudetoproductreliabilityisnotaffectedandthattheyseethisserviceasnecessary(maybebyben arkingfailurerates/machinedowntimeagainstcompetitors).分析顧問對humanresourcemanagement的評論，對業(yè)績管理有何影Althoughthechainshowshumanresourcesasasecondaryactivity,itisrecognisedasimportanttoachievingtheentrepreneurialcultureatArkaig.Thisculturecanberealisedthroughtherewardsystemwhereemployeesarerewardedbyshareownershiporashareoptionscheme.Itseffectcanbemeasuredthroughimprovedprofitabilityandincreasedinnovation.Q1uEvaluationofcurrentperformancereport：2021MJQ126marksuEconomicvalueadded(EVA)：2020MJQ2b10marksuValue2015JunQ1(v)6Q2

考核知識 non-financialperformanceindicatorsinrelationtocustomersatisfactionBalancedAssessthedifficultiesinusingandinterpretingthecustomersatisfactiondataatVeyatie.(10 AdvisetheboardasrequestedoftheproblemsofimplementingandusingthebalancedscorecardapproachatVeyatie.(15marks)(25Q2(a Marking1markperrelevantpointcovering:subjectivityandcustomerperception

Embeddedrequirement:“Thedatacollection20X3andthereisnow

beganatthestartdataavailable

ofQuarter3twomeanandaggregated

years(Appendix1).Veyatiehasfound

difficultpletetrendsandseasonalfactorsum10marks平均得分

interpretthisqualitativedataandalsothetrendsinthisdata.Someboardmembersquestionitsusefulnessandproposerevertingbacktoreportingjustthefinancialindicatorswhichtheyareusedto.”Q2(a 標(biāo)答解CustomersownassessmentsofsatisfactionareCustomerstendtousethemiddlescoresandbereluctanttousethehighestandlowestSamplingmethodThedatamaynotrepresenttheviewsofawiderangeofcustomers.InterpretthedataThesatisfactiondoesnotindicatewhataspectsthecustomersaresatisfiedordissatisfiedwith.Thenitishardtoknowhowtoimprovecustomersatisfaction.InQuarter120X4,50%ofthecustomersarecomple ysatisfied(ascoreof5and50ofthecustomerarecomple ydissatisfied(ascoreof1).Butthemeanscoreof3indicatesthat,overall,customersaresatisfied,whereas50%ofthemarecomple ydissatisfied.（mean容易被極值影響）Thecalculationofthemedianormodalscoremaybepreferablebecausethisreducesthedistortiontomeanscorescausedbyveryhighorlowscores.（補充新的數(shù)據(jù)類型如中位數(shù)、眾數(shù)）Itmaybedifficulttoidentifytrends.InafashionretailersuchasVeyatie,theremaybeseasonalandshort-termorcyclicaltrends.（是否可以使用trend Q2(b Marking1markperrelevantpointproblemsofselectingproblemsoftheneedforproblems ingneedforboardandmanagementcollectingandinterpreting–informationsystemuseofillustrativeexamplesfromthemeasuresinAppendix2um15marks

最高得分最低得分：0(31%)!Q2(b)embedded atyaOeatyaeAxQ2(b)embedded 要求：problemsofimplementingandusingthebalancedscorecard，在這個 focusontheselectionofsuitableperformancemeasures（主要切入點：如何選擇合適的業(yè)績指標(biāo)）adviceonhowtorefinetheperformancemeasures（根據(jù)發(fā)現(xiàn)的問題，提出新的方法，而不是新的指標(biāo)）Appendix2的使用 不要做：giveadetailedevaluationoftheadvantagesanddisadvantagesofeachperformancemeasureORsuggest ynewmeasures.Q2(b)u評價現(xiàn)有指標(biāo)，提供新指標(biāo)0mark“-InternalbusinessprocessesThestockoutpercentageisaboutthebeginningofeachtradingday,butitmaywastelabortodothisjob.Thebetteroneistocollectthestockoutpercentageeveryweekor-LearningandThetotalemployeetrainingdaysincludesthreeparts,itisbettertogivemorespecifictimeoneachpart.Forexample,thesingledaysspentontraininginhandingcustomercomintscanltheboardthatthemostobviousproblemnowisdealingwithcustomers’comints.“標(biāo)答解Oneofthestrategicobjectives,toincreasethenumberofstores,isnotreflectedatallinthemeasuresselected.Thenumberofdaysspentonthedifferenttypesoftrainingisunclear.Thoughclearlyimportant,staffhealthandsafetytrainingdoesnotdirectlyhelpVeyatieachieveitsstrategicobjectives.Themeasuresselecteddocoverallfour softhebalancedscorecard,butdonotseemtobewellbalancedastherearemoremeasuresinthe thanineachofthes.Also,mostofthemeasuresareinternallyfocused.Financialmeasures,however,arebackwardslookingandmeasuretheresultsofactionstakeninthepast.Itisnon-financialfactors,suchascustomersatisfaction,whichdrivefutureperformanceandwhichwillenableVeyatietoachieveitsstrategicobjectives.標(biāo)答解 lowstockoutpercentagevs.worseninventoryoperatingprofitmarginsvs.numberofemployeetrainingdays,market 的重視和全員參與(changeinTheboardisalreadyscepticalaboutthebenefitsofthebalancedVeyatie’sinformationsystemsarebasicforabusinessofitssizeandfocusjustontheuseoffinancialinformation.Interpretingthemeasuresusedinthebalancedscorecardmaybedifficult,forexample,forqualitativedatasuchascustomersatisfaction,whichVeyatiehasalreadyhaddifficultiesinThecostofimplementingandusingthebalancedscorecardshouldbecomparedtothebenefitsofngso.Q2uNFPI-customersatisfactionreports:2018DecQ1b9marks2018SepQ1(ii)8u2015DecQ4Q3

expectedAssesstheperformancemeasuresshowninAppendix1inrelationtothethreekeystakeholdergroupsasrequiredbytheVC.(9marks)Evaluatewhichpricetheboardwouldchooseforthenewproductbasedontheboard’srevisedattitudetoriskandbrieflycommentonthedrawbacksofthedecisionruleused.(5marks)AdvisetheVCwhichofthetwonewinvestmentprojectsitshouldundertake,includinganevaluationoftheappropriatenessofthenumericaltechniqueused.(11marks)(25Q3(a MarkingEachstakeholder–1markforpower/interestcommentaryupto3marksforadviceonperformancemeasuresum9marks最低得分：0未做）Q3(a“employeeshouldbekeepinformed.Theyhavethehighinterestbecausetheyreceivesalaryfromthe Becauseofthehighinteresttheycarealotandcanbeusefultotheorganisationinformingpositivelobbygroup.Theymayjoinstoformastronggrouandmovetothehighpowersector.”1markThetrainingcostisnottheappropriatemeasurement.Ifthe paymoreonthetrainingcost,employeecanincreasetheefficacyoftheworkandbefamiliarwithsomenewtechnologyormachine.Butthetrainingcostcantnotdirectlylinktotheemployeetreatment.So,ithinktheminimumhourlywageperemployeeisbetter.Itensuretheeconomicsecurityofeachemployeetobetreatedbetter.解題思路對，評價了trainingcost,建議了新的指標(biāo)，但解標(biāo)答解Trainingcostsareprobablynotasuitablemeasureforthemostlylow-skilledwork ,asthemanufacturingprocessdoesnotrequiredahighlevelofskill.(評價現(xiàn)在的指標(biāo)是否合理）Measuresrelatingtoemployeeproductivitymaybemoreuseful,because,forexample,higherproductivitymayincreasetheirjobsecurity.（給出新的指標(biāo)并說明理由）Q3(a 無效的performance“Maybebusinesscanme