考前冲刺21 12 apm模考解析

112ØAPMØ2019Ø341APM OwnFigureRule(OFR51APM 4Professionalmarks1mark：Reportheading111mark：Tone,logicalflow,persuasivenessand61APM71APM “Thereportshouldhavemorenarratives”-0mark“ThereportshouldhavemorenarrativesBECAUSEithelpstodrawattentiononkeyissuesandprovidecomprehensiveinformationwhichmaynotbeexpressedinnumbers.”-1mark81APM “Hehasheardofthe3Es(economy,efficiencyandeffectiveness)butneedsanex ofthesethreeheadingsandhowthislinkstotheworkonCSFsandKPIsalreadyrequested.” “Non-financialmeasuresareleadingindicatorswhichcanhelptoachievelong-termfuturefinancialperformance.ThiswouldbeusefultoZones,whichhashadexcessivefocusonfinancialobjectivesandinadequatesystemstomeasureandmanageperformanceoftheunderlyingprocessesdrivingfinancialperformance.”92019

Q1

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

(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 TheprimaryaimofArkaigisto iseshareholderwealthbyprovidingsuitableproductsforitscustomers.Theseproductsshouldhaveanumberofqualities:beworld-class;tailored;usetechnologyinnovatively;showimprovedmachinedowntime;andreduceenergyconsumptionforcustomers.Thisshouldbesupportedbyanentrepreneurialcultureamongtheemployees. Thetailorednatureoftheproductscouldbemeasuredbythecostofindividualdesignforeachinstallationorcustomersurveyresponses. Itishelpfulthatanarrativecommentaryisprovided.However,oftenthecommentarydoesnotgobeyondrestatingthefiguresinthetable.Itshouldprovidethesignificantex nationsforeachofthemajorchangescommentedupon.Forexample,bystatingwhytheROCEhasexceededtheindustryaverage.Q1(i)Evaluatetheperformance u对Mission进行拆解、复述——Easyu评估业绩报告当前所用的指标体系是否能能够反映mission/vision/objectives/CSF逐一分析到world-class,tailoredautomationsolution,technologyinnovation,improvedmachinedowntimeandreducedenergyconsumption，entrepreneurshipculture。如果业绩指标缺失或不恰当，则应该逐一提供有针对性的绩效指标并给u业绩报告是否提供了充足的信息帮助做战略规划和决策。Strategicnning需要的外部、长期性的信息，如PES、竞争对手、trendysis等。Strategiccontrolling需要benarkbudgetu业绩报告的整体presentation，包括：信息是否过载，结构分类等是否清晰，commentary是否有效地补充了数字信息的信息。Q1(iiMarkingAmortisationMarketingcapitalisedResearchanddevelopmentcapitalisedAccountingdepreciation1(forre cingwitheconomicdepreciation)Taxpaid1LosttaxreliefoninterestCapitalemployed1(foropeningfigure)Researchanddevelopmentasset1Marketingspendcapitalisedandw/off1WACC1EVA™CommentsonresultEvaluationofEVA™versusROCE–upto5 um15

Thebusinesshas$1.32bnofvalueinthelastyear.Thenetoperatingprofitaftertaxmorethancoversthecostofthecapitalusedbythebusiness.1mark u忽略Embeddedrequirement或只说了EVA“TheCEOwantstopresentthisideaatthenextboardmeetingandsoneedsanillustrativecalculationofEVA™alongwithabriefex nationofitsbenefitsasare cementforROCE.“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 nningandcontrollingactivityandillustrativeexamplesum10marksQ1(iii)embeddedu“hewantsyoutoprovidehimwithabriefdescriptionofthenatureoftheinformationrequiredforperformancemeasurementatthesethreedifferentlevelsanduex inhowthisinformationisinfluencedbytheextentofnningandcontrollingactivityateachofthelevelsoftheperformanceuHewantsexampleswhichwouldberelevanttoArkaigtoillustratethesepointsinorderthatthepresentationismademoreconcreteforthedirectors.”uu未提及nningandcontrolling对信息的影响；u写的只是各个层级的活动，而不是信息的性质u没有举例“Tacticallevelisusuallyinthemiddlemanagement,itusuallyfocusontheprocessexecutiveoftheOperationleveldecisionismoreinternalanddailyfocusondaily 0uMarkingGeneralpointsonvaluechainimplicationsanduse–upto3Specificpointsrelatingtotheareasofconcern–1markperrelevantpointInboundlogisticsOutboundAfter-salesserviceHumanresourcemanagementum10marks平均得分

EmbeddedTheCEOwouldlikeyoutoassesstheperformancemanagementimplicationsoftheconsultant’scommentsonthecriticalareasidentifiedforNote:Theareasnotedasnotcriticaldonotrequirecomment.managementimplication Thevaluechainisamodelofbusinessintegrationshowingthewaythatbusinessactivitiesareorganisedandlinked，emphasisingthatitisactivitieswhichcreatevalueandincurcosts.Theremustbeaflowofinformationbetweenthedifferentactivitiesandacrossdepartmentalboundaries.…oldwarehousinganddistributioninformationsystem.ForabusinesssuchasArkaigwhichaimstousetechnologyinnovatively,thiscouldleadtoinefficiencies.Astate-of-the-artsystemwouldbeintegratedwiththeproductionandsalessystemsandwouldallowbetterstockcontrolwithfewererrorsinpickinginventoryandreducedobsolescencewhileimproveddistributioncouldleadtofasterdeliverytocustomerswithreducedcostsoftransportation.分析顾问对after-salesserviceTheconcernregardingafter-salesservicemaybeduetoaninconsistencyinhavinganareawhichgeneratesasignificantamountofrevenuebutwhichrelatesinrealitytothefailureofreliabilityofthebusiness’products.Itwouldbeimportanttoidentifythatcustomers’attitudetoproductreliabilityisnotaffectedandthattheyseethisserviceasnecessary(maybebyben arkingfailurerates/machinedowntimeagainstcompetitors).分析顾问对humanresourcemanagementAlthoughthechainshowshumanresourcesasasecondaryactivity,itisrecognisedasimportanttoachievingtheentrepreneurialcultureatArkaig.Thisculturecanberealisedthroughtherewardsystemwhereemployeesarerewardedbyshareownershiporashareoptionscheme.Itseffectcanbemeasuredthroughimprovedprofitabilityandincreasedinnovation.Q1uEvaluationofcurrentperformancereport：2021MJQ126marksuEconomicvalueadded(EVA)：2020MJQ2b10marksuValue2015JunQ1(v)6Q2

考核知识 non-financialperformanceindicatorsinrelationtocustomersatisfactionBalancedAssessthedifficultiesinusingandinterpretingthecustomersatisfactiondataatVeyatie.(10 AdvisetheboardasrequestedoftheproblemsofimplementingandusingthebalancedscorecardapproachatVeyatie.(15marks)(25EmbeddedEmbedded“Thedatacollectionbeganatthestart20X3andthereisnowdataavailableforyears(Appendix1).Veyatiehasfounditinterpretthisqualitativedataandalsothisdata.SomeboardmembersquestionofQuarterdifficultthetrendsusefulnessproposerevertingbacktoreportingjusttheindicatorswhichtheyareusedQ2(a Marking1markperrelevantpointcovering:subjectivityandcustomerperceptionmeanandaggregatedpletetrendsandseasonalfactorsum10marksQ2(a CustomersownassessmentsofsatisfactionareCustomerstendtousethemiddlescoresandbereluctanttousethehighestandlowestThedatamaynotrepresenttheviewsofawiderangeofcustomers.InterpretthedataThesatisfactiondoesnotindicatewhataspectsthecustomersaresatisfiedordissatisfiedwith.Thenitishardtoknowhowtoimprovecustomersatisfaction.InQuarter120X4,50%ofthecustomersarecomple ysatisfied(ascoreof5and50ofthecustomerarecomple ydissatisfied(ascoreof1).Butthemeanscoreof3indicatesthat,overall,customersaresatisfied,whereas50%ofthemarecomple ydissatisfied.（mean容易被极值影响）Thecalculationofthemedianormodalscoremaybepreferablebecausethisreducesthedistortiontomeanscorescausedbyveryhighorlowscores.（补充新的数据类型如中位数、众数）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，在这个 focusontheselectionofsuitableperformancemeasures（主要切入点：如何选择合适的业绩指标）adviceonhowtorefinetheperformancemeasures（根据发现的问题，提出新的方法，而不是新的指标）Appendix2的使用 不要做：giveadetailedevaluationoftheadvantagesanddisadvantagesofeachperformancemeasureORsuggest ynewmeasures.Q2(b)u评价现有指标，提供新指标0mark“-InternalbusinessprocessesThestockoutpercentageisaboutthebeginningofeachtradingday,butitmaywastelabortodothisjob.Thebetteroneistocollectthestockoutpercentageeveryweekor-LearningandThetotalemployeetrainingdaysincludesthreeparts,itisbettertogivemorespecifictimeoneachpart.Forexample,thesingledaysspentontraininginhandingcustomercomintscanltheboardthatthemostobviousproblemnowisdealingwithcustomers’comints.“Oneofthestrategicobjectives,toincreasethenumberofstores,isnotreflectedatallinthemeasuresselected.Thenumberofdaysspentonthedifferenttypesoftrainingisunclear.Thoughclearlyimportant,staffhealthandsafetytrainingdoesnotdirectlyhelpVeyatieachieveitsstrategicobjectives.Themeasuresselecteddocoverallfour softhebalancedscorecard,butdonotseemtobewellbalancedastherearemoremeasuresinthe thanineachofthes.Also,mostofthemeasuresareinternallyfocused.Financialmeasures,however,arebackwardslookingandmeasuretheresultsofactionstakeninthepast.Itisnon-financialfactors,suchascustomersatisfaction,whichdrivefutureperformanceandwhichwillenableVeyatietoachieveitsstrategicobjectives. lowstockoutpercentagevs.worseninventoryoperatingprofitmarginsvs.numberofemployeetrainingdays,market 的重视和全员参与(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）Q3(a“employeeshouldbekeepinformed.Theyhavethehighinterestbecausetheyreceivesalaryfromthe Becauseofthehighinteresttheycarealotandcanbeusefultotheorganisationinformingpositivelobbygroup.Theymayjoinstoformastronggrouandmovetothehighpowersector.”1markThetrainingcostisnottheappropriatemeasurement.Ifthe paymoreonthetrainingcost,employeecanincreasetheefficacyoftheworkandbefamiliarwithsomenewtechnologyormachine.Butthetrainingcostcantnotdirectlylinktotheemployeetreatment.So,ithinktheminimumhourlywageperemployeeisbetter.Itensuretheeconomicsecurityofeachemployeetobetreatedbetter.解题思路对，评价了trainingcost,建议了新的指标，但解Trainingcostsareprobablynotasuitablemeasureforthemostlylow-skilledwork ,asthemanufacturingprocessdoesnotrequiredahighlevelofskill.(评价现在的指标是否合理）Measuresrelatingtoemployeeproductivitymaybemoreuseful,because,forexample,higherproductivitymayincreasetheirjobsecurity.（给出新的指标并说明理由）Q3(a 无效的performanc