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University of Wales BA3 Assignment

Subject: Date Issued: Hand in by: PERFORMANCE MANAGEMENT FRIDAY 12th JULY 2013 WEDNESDAY 20TH AUGUST 2013 at 3.00pm

INSTRUCTIONS TO CANDIDATES:

1. 2. 3. 4. 5. 6. 7.

Assessment Criterion 100% Weighting. Students must submit their assignments with a copy on a floppy disk or CD-Rom (to allow the examiner to check for plagiarism) to the Reception by 3:00 p.m. on 20TH August 2013 at the latest. Assignments without a floppy disk or CD-Rom will not be accepted. No assignments or floppy disks/CDs will be accepted after the deadline and therefore a zero mark will be given to a student who falls into this category. Your assignment must be word-processed in Microsoft Word. All pages should be numbered. You are strongly advised to make a copy of your assignment before submission. Students are assessed anonymously. You should put your student registration number (but not your name) on the front cover and on the top right hand corner of every subsequent page. Please do not include your name anywhere on the document. Policy on Plagiarism: a) The work that you submit must be expressed in your own words. b) Plagiarism, which is presenting the views and/or words of another person as if they are your own is strictly forbidden. c) If you do use quotations from books, journals and or websites then these must be placed inside quotation marks and referenced ideally using the Harvard method. d) If you do cite the views/ideas of another person then you must refer to this person in the main body of the assignment, including the work cited in your bibliography. Cite, in this context means to quote a passage, book or author in support of an argument, etc. e) Copying the work of a fellow student also constitutes plagiarism. It must be pointed out, though, that any student allowing another student to copy part or all of his/her assignment is just as guilty as the plagiariser. You should therefore protect your own work, so as to avoid others copying your work, without you knowledge. f) If you do not observed the above rules then this will lead to an allegation of cheating and, if found guilty, you will incur a severe penalty which may involve having to leave the College. Any repetition of plagiarism in any module will lead to expulsion from the College.

BA Year 3 University Of Wales Performance Management Assignment


Robil Plc is a small oil company selling fuel in and around Yorkshore through its own service stations outlets. The stations use a telephone fuel ordering system and place their orders for the delivery of fuel. Each order is for 150,000 gallons which will be delivered from a central depot on the third day after the order is placed. Every station has storage facility which can hold 250,000 gallon on site. The station will place an order at the end of any day if the stock level held is lower than 100,000 gallons. The central depot charges the station 40 for each delivery. The cost of insurance and other stock holding costs amount to 2 per gallon per night. If there is no fuel and the station is closed the station loses 20 profit from sale of other items like cigarettes, sweets and sandwiches for every 1000 gallons of fuel in lost sales. While studying for your Degree in Accounting and Finance, you are also working parttime as an assistant to the accountant of Quick Deliveries. The accountant has been employed by the company for a long time and has learnt his work through experience. His ability to approach problems from a theoretical point of view or to formulate them for evaluation by applying sophisticated techniques is rather limited. You have helped him in this area more than once in the past using your knowledge gained from your studies and he has openly appreciated your contribution. The accountant has discussed the problem with you and has asked you to advise him to evaluate the effect of continuing with the current policy for the next six months. You studied the past records carefully and compiled the following information. The demand for the past 50 days has been as follows: Demand (Number of Gallons) 000s 50 55 60 65 70 Number days

5 9 16 15 5 50

You have decided to use Simulation to estimate the costs of ordering, costs of carrying and the stock-out costs for operating the new policy. You want to use computer programs and run 1000 periods of 25 days each. Using the random number tables the following 25 numbers are obtained. 97 12 70 52 27 91 08 44 67 19 34 50 03 25 72 09 92 32 05 85. 37 64 23 92 18 You are required to: Task I: Show a simple flow chart to describe the stock control system described in the question. (10 marks) Task II: Using the random numbers given above show the cost of ordering, cost of carrying and the stock-out cost for implementing the policy for a period of 25 days. You should show the workings clearly by showing proper headings and the totals for the costs. (35 Marks) Task III: The following are the results of the average of 1000 runs of 25 day periods each. Interpret the results given. Ordering cost 360 Stock holding cost 2000 Stock-out cost 4600 6960 (5 Marks) To get percentage mark, multiply TOTAL from above by 2 Marks for the assignment = 100%

MARKING CRITERIA BA3 ORGANISATION AND COHERENCE The study must be clearly structured and presented. The introduction must state an aim and explicitly identify the relevant arguments and areas to be addressed. These areas, once identified must be followed up logically in the main body of the study. There must be a firm conclusion of the areas discussed. CONTENT The contents must clearly relate to the area of study, and the learning outcomes being tested Knowledge and understanding must be applied to practice. 40% 10% 0-4 Some attention paid to the structure and organisation/coh erence. Evidence of discussion. 5-7 Good structure, presentation and coherently expressed. Widely discussed. 8-10 Excellent structure, presentation and coherence at an outstanding standard. Evidence of critical discussion.

0-18 Addressed the aims of the area of study with some originality and creativity. Applied to practice. Does not meet all the theoretical learning outcomes.

19-29 Clearly relevant. Original and creative. Application and integration of knowledge to practice. Meets all the theoretical learning outcomes. 6-10 Well-integrated study with clear evidence of critical analysis/synthesis, and evaluation relevant to the area of study. 9-14 Moderate range but depth and complexity appropriate to area of study. 3 Most sources cited using an accepted referencing system.

30-40 Relevance to practice and the module learning outcomes are crystallized within the study. Application of theory to practice, and practice to theory is contextualised appropriately. 11-15 Critical analysis, critical thinking, and synthesis of ideas are clear within the study. Evaluation and integration evidenced throughout. 15-20 Extensive range, depth and complexity, which is appropriate to the area of study. 4-5 All key sources cited. Consistent and accurate use of an accepted referencing system. 8-10 Clearly expressed, articulate and fluent. Spelling and grammar accurate throughout.

LEVEL OF ANALYSIS AND SYNTHESIS There should be a clear critical analysis and synthesis of issues,

15%

0-5 Shows some critical thinking and the beginnings of synthesis and evaluation.

USE OF LITERATURE SHOWING KNOWLEDGE AND UNDERSTANDING The study must demonstrate an appropriate use of academic literature/research, which is appropriate to the study. QUALITY OF REFERENCING All key sources must be cited, and a consistent and accurate use of Harvard referencing system must be maintained.

20%

0-8 Limited use of academic literature/resear ch evidence.

5%

0-2 Main key sources cited. Limited or no use of an accepted referencing system.

CLARITY OF EXPRESSION Areas must be clearly expressed, articulate and fluent. Accurate spelling and grammar.

10%

0-4 Meaning clear. Spelling and/or grammar needs some improvement.

5-7 Articulate and fluent. Good spelling and grammar.