Operational and Financial Management
Module title | Operational and Financial Management |
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Module code | BEM1031DA |
Academic year | 2023/4 |
Credits | 15 |
Module staff |
Duration: Term | 1 | 2 | 3 |
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Duration: Weeks | 8 |
Number students taking module (anticipated) | 30 |
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Module description
Operational management provides a critical link between design and execution of organisational strategy. As Stephen Case, Chairman and Chief Executive officer of America Online put it, “In the end, a vision without the ability to execute it is probably a hallucination”.
This module will explain the importance of understanding strategic direction and how to contribute to the strategic planning process through the creation and management of operational plans.
You will learn about the knowledge and skills required to create and deliver operational plans, such as the need to set key performance indicators, monitor quality and outcomes against the plan, and how to report on findings.
It will introduce you to tools and techniques to support planning, problem solving and decision making.
The role of operational managers in an organisation includes a need to work with finance colleagues to make appropriate decisions and ensure that revenue, profit and cash meet the needs of the organisation.
This module focuses on finance for managers and explains the importance of being able to understand key financial documents and make effective decisions concerning finance.
It will introduce you to approaches of forecasting, budgeting, financial control and reporting.
Module aims - intentions of the module
The aim of the module is to introduce and consolidate apprentice’s knowledge and learning around operational planning in the context of their workplace. To dissect their own organisations operational plans, consider the KPI’s and targets set and critically review these.
This module will also introduce key concepts around budgeting and data security which should be considered by an operational manager, and encourage apprentices to analyse these in their own organisational context.
Intended Learning Outcomes (ILOs)
ILO: Module-specific skills
On successfully completing the module you will be able to...
- 1. Consider the principles of operational planning in an organisation, managing change including contingency planning K1.1, K1.4, K1.5
- 2. Analyse financial forecasting within an organisation K3.1
ILO: Discipline-specific skills
On successfully completing the module you will be able to...
- 3. Discuss operational planning in line with organisational objectives K1.1
- 4. Monitor and measure the outcomes of operational planning, sales and marketing, setting targets K1.3
- 5. Address gaps and weaknesses in operational performance through effective decision making and continuous improvement K1.2
- 6. Consider data security and effective use of technology in an organisation K1.6
- 7. Monitor and manage budgets.K3.1, S3.1
ILO: Personal and key skills
On successfully completing the module you will be able to...
- 8. Manage and lead the delivery of an operational plan
- 9. Evaluate and manage financial information relevant to own role
Syllabus plan
Masterclass 1:
- The concept of operational planning
- How operational plans work within the organisation’s own policies and practices
- Introducing analytical tools used to prepare the plan
- The role of finance in an organisation
- The role of forecasting and budgeting in the planning process
Masterclass 2:
- Operational objectives and creating performance targets;
- Performance monitoring and reporting, including:
- Variance, problem and root cause analysis
- Principles of Lean Systems Thinking
Using the SIPOC tool (Supplier, Inputs, Process, Outputs, Customer)
Operational resilience and sustainability
Equality, Diversity and Inclusion in context of initiating and managing change
Learning activities and teaching methods (given in hours of study time)
Scheduled Learning and Teaching Activities | Guided independent study | Placement / study abroad |
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19 | 131 | 0 |
Details of learning activities and teaching methods
Category | Hours of study time | Description |
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Masterclasses | 12 | The Masterclasses are designed to run either face to face or remotely to provide the expert led content of the module |
Webinars | 5 | The webinars provide opportunity to dissect and discuss topics |
1-1's | 2 | 1-1s are arranged to provide an opportunity for apprentices to check understanding and discuss their assessments |
Independent research, workplace activities and applied practice | 131 | Apprentices will all apply the theory to their own workplace and test out the strategies discussed in a live, applied way. Apprentices will then review, discuss and improve on these approaches. |
Formative assessment
Form of assessment | Size of the assessment (eg length / duration) | ILOs assessed | Feedback method |
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Draft presentations buddy up | 5 minutes | 1-9 | Peer feedback |
Summative assessment (% of credit)
Coursework | Written exams | Practical exams |
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100 | 0 | 0 |
Details of summative assessment
Form of assessment | % of credit | Size of the assessment (eg length / duration) | ILOs assessed | Feedback method |
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Presentation | 100 | 15 minute voice over powerpoint with 500 word accompanying notes | 1-9 | Written feedback via ELE |
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Details of re-assessment (where required by referral or deferral)
Original form of assessment | Form of re-assessment | ILOs re-assessed | Timescale for re-assessment |
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Presentation | Presentation | 1-9 | Next re-assessment period |
Indicative learning resources - Basic reading
- Johnson, Whittington & Scholes (2012) Fundamentals of Strategy
- Adair (2010) Strategic Leadership: how to think and plan strategically and provide direction
- Atrill & McLaney (2015) Accounting and Finance for Non-Specialists
Indicative learning resources - Other resources
- Plan Do Check Act cycle (Deming, 1950s)
- Fishbone Diagram (Ishikawa, 1968)
- Rational Decision Making (Kepner and Tregoe, 1965)
Credit value | 15 |
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Module ECTS | 7.5 |
Module pre-requisites | None |
Module co-requisites | None |
NQF level (module) | 4 |
Available as distance learning? | Yes |
Origin date | 25/07/2022 |
Last revision date | 25/07/2022 |