TASK 1 - PROJECT/REPORT - OBTAIN INFORMATION ON BUSINESS ISSUES
Before you commence this section of the assessment you are to complete the checklist. This is similar to the one being used by your assessor during this assessment. This checklist should be reviewed by you to evaluate your readiness for assessment, and to confirm your understanding of the criteria by which this assessment task will be judged.
Once you feel you have the required skills and knowledge to demonstrate each of the following assessment criteria, you are ready to be assessed. Please speak with your assessor if you feel you are not ready to be assessed before the assessment has commenced.
You may refer to this checklist at any stage PRIOR to the commencement of your assessment. You may not
Performance objective
You will demonstrate the skills and knowledge required to obtain information to identify and analyse business issues.
Assessment description
Using the simulated business information provided in this task, and in response to a scenario, you will source, gather and review data and information and utilise formal and informal networks to identify and analyse business problems and issues.
Procedure
1. Read the scenario information provided under Australian Hardware (your brief in Appendix 1).
2. Review and familiarise yourself with Australian Hardware general business information in Appendix 1.
3. Review and evaluate business performance data and information in Appendix 2.
4. Review and analyse customer and marketing information in Appendix 3.
5. Review and analyse management and staff meeting summaries in Appendix 4.
6. Gather, organise and evaluate the data and information provided in the appendices to identify and analyse Australian Hardware potential business problem/s or issue/s.
7. Test the validity and reliability of data and information you have used to identify and analyse the potential business problem/s or issue/s in Step 6. Check sources of information provided and their credibility and reliability. Determine if any are ambiguous or contradictory.
8. Choose one of the business problem/s or issue/s you discovered in Step 6. Identify types and sources of information required to determine appropriate courses of action and support decision makers for your selected issue or problem.
9. Access and review information available through formal and informal networks relevant to the business problems or issue. Networks could include formal and informal industry networks, internal business networks, social media or internet communities of practice.
10. Prepare a short written report for Rufus and Emma. The report should include the following information.
- A brief description of all the business problems or issues you have identified.
- An explanation of how you reached this conclusion including a description of how the data and information supports your conclusion?
- A list of the types and sources of data and information required to determine potential causes of the problem/s or issue/s and to support decision-making for one of the problems or issues you identified.
- Gather information from at least two sources on your list and briefly describe how they support decision-making. Attach copies of gathered information to your report.
- What processes or techniques were used to test the validity and reliability of data and information you have gathered?
- What data or information was rejected as it was deemed contradictory or ambiguous?
Describe the formal and informal networks that:
- assisted in identifying and analysing the business problem or issue;
- may help establish the causes of the problem;
- or can be used to determine and analyse appropriate courses of action.
- Copies of data and information you have researched (other than those provided in the Appendices) that is relevant to your analysis process and identification of the business problem/s or issue/s should be attached to the report.
- Submit the written report and any research information (if applicable) to your assessor as per the specifications below
Rufus and Emma Belcastran, Australian Hardwares owners, have approached you for assistance. The business has been profitable and steadily expanding for the last 4 years. However, recently expenses have started to climb and sales are dropping. In the last 3 months they have started to address the issue of rising expenses by evaluating and updating procedures and work practices in an effort to reduce costs. So far, their efforts have not had a significant impact on expenditure and their sales revenue continues to be below budget forecasts.
It's January 2016 and all four stores are closed for a summer break. Emma and Rufus are using the down time to assess their business's operational and financial status in preparation for the year ahead.
They have asked you to help them analyse their business and the external environment to identify potential reasons for their declining sales. Initially, they want you to review and analyse their business data and information to determine if there is a cause for their concern - what problem/s or issue/s there are and what information is needed to conduct further analysis to enable decisions to be made.
Australian Hardware - general information
The business
Australian Hardware supplies high quality, hardware and homeware products and services in Melbourne's central business district (CBD). Customers are served by well trained, knowledgeable staff who provide fast and friendly service. It is owned and managed by partners Emma and Rufus Belcastran. They opened their first store in 2009 and have since expanded to four stores in and around the CBD.
Business goals and objectives
- Increase revenue through targeted marketing campaigns.
- Control direct and indirect operational costs.
- Maintain superior product and service standards.
- Establish Australian Hardware brand as an ethically and environmentally responsible company.
- Maintain highly trained and motivated staff.
TASK 2 - PROJECT/REPORT - ANALYSE INFORMATION AND KNOWLEDGE
Before you commence this section of the assessment you are to complete the checklist. This is similar to the one being used by your assessor during this assessment. This checklist should be reviewed by you to evaluate your readiness for assessment, and to confirm your understanding of the criteria by which this assessment task will be judged.
Once you feel you have the required skills and knowledge to demonstrate each of the following assessment criteria, you are ready to be assessed. Please speak with your assessor if you feel you are not ready to be assessed before the assessment has commenced.
You may refer to this checklist at any stage PRIOR to the commencement of your assessment. You may not refer to this checklist whilst you are being assessed.
Performance objective
You will demonstrate the skills and knowledge required to analyse information and knowledge on business issues or problems to aid decision-making
Assessment description
Using the simulated business information provided in this task, and in response to a scenario, you will identify patterns or emerging trends, determine the causes and determine their potential effect on the business by using statistical analysis techniques. You will document evaluation processes and adjust management information or decision support systems if necessary to meet information processing objectives.
Procedure
11. Read the scenario information provided under (Australian Hardware - your brief in Appendix 1). 12.If necessary, review Australian Hardware general business information provided in Appendix 1 of
Assessment 1 to maintain your understanding of the business and its environment.
13.Review and evaluate business performance data and information in Appendix 2. 14.Review and analyse research data and information in Appendix 3.
15. Respond to Question 1 in Appendix 5 by developing SMART objectives for the analysis processes you plan to undertake to identify causes for the business's declining sales. Make sure they are consistent with the decision required.
16. Based on the information provided in this assessment and Assessment Task 1, identify and interpret trends and patterns and their causes and effects relevant to the identified business problem. You can use computer software or manual techniques to complete trend and correlation statistical analysis calculations.
- You can complete as many trend and correlation calculations as desired to assist in the identification of trends and patterns and their causes or effects.
- You must complete a minimum of two trend and two correlation calculations for this assessment.
- The results of at least two trend and two correlation calculations must be converted to graphs for visual identification and evaluation of trends or patterns and their causes or effects.
17. Document analysis processes undertaken so far by completing Parts 1 and 2 of the Decision Analysis Report in Appendix 4. Note that additional information will be added to this report in Assessment Task 3. Make sure you use writing styles and conventions appropriate for a management report, including level of formality selected, terminology used and depth of complexity in information provided.
18. Answer the remaining assessment questions in Appendix 5.
You must submit:
- completed Parts 1 and 2 of the Decision Analysis Report 9appendix 4)
- copies of the results gained from at least two trend and two correlation statistical analysis techniques used to assist trend and pattern identification - please attach to the Decision Analysis Report
- copies of line or scatter graphs developed from the results of at least two trend and two correlation statistical analysis techniques - please attach to the Decision Analysis Report
- your responses to the questions 1 -4 in Appendix 5.
TASK 3 - PROJECT/REPORT - MAKE DECISIONS ON BUSINESS ISSUES
Before you commence this section of the assessment you are to complete the checklist. This is similar to the one being used by your assessor during this assessment. This checklist should be reviewed by you to evaluate your readiness for assessment, and to confirm your understanding of the criteria by which this assessment task will be judged.
Once you feel you have the required skills and knowledge to demonstrate each of the following assessment criteria, you are ready to be assessed. Please speak with your assessor if you feel you are not ready to be assessed before the assessment has commenced.
You may refer to this checklist at any stage PRIOR to the commencement of your assessment. You may not refer to this checklist whilst you are being assessed.
Performance objective
You will demonstrate the skills and knowledge required to make timely decisions on identified business issues.
Assessment description
Using the simulated business information provided, and in response to a scenario, you will utilise risk management plans, sensitivity and quantitative analysis techniques and consultation processes to determine acceptable courses of action and make a decision. The decisions must be taken within organisational guidelines and be consistent with its values, objectives and standards. A presentation will be made to Australian Hardware managers detailing options available for potential courses of action and your recommendations.
Procedure
19. Read the scenario information provided under Australian Hardware- your brief in Appendix 1. 20.Review Australian Hardware organisational chart in Appendix 1 to build an understanding of the
business's reporting and command structure.
21. Review, evaluate and analyse information provided about each of the decision options facing Australian Hardware in Appendix 2.
22. Review risk management and business impact analysis information in Appendix 3. 23.Review and analyse City of Melbourne demographic information in Appendix 4.
24. Based on the information provided in this and previous assessments, utilise statistical, sensitivity and quantitative analysis techniques to analyse the viability of options 2 and 3 to determine the most acceptable course of action to resolve the business issue or problem. You can use computer software or manual techniques to complete your analysis calculations.
- You can complete as many types and number of analysis calculations as desired to assist in further analysis and clarification of causes of the business issue identified in Australian Hardware- your brief in Appendix 1 and evaluation of potential courses of action to address the issue.
- You must complete a minimum of one statistical (other than trend or correlation), one sensitivity and one quantitative calculation for this assessment.
- If applicable, the results your statistical calculations could be converted to graphs for visual identification and evaluation of causes or courses of action.
25. Update Part 2 of the Decision Analysis Report you started preparing in Assessment 2. Clearly document the results of additional analysis processes undertaken in this assessment in the Report.
26. Complete Part 3 of the Decision Analysis Report based on the information provided and the results of your research and analysis. When listing positive and negative outcomes, consider their impact on the business as a whole and operation of the individual stores. The events and outcomes described in the business's risk management plans should also be considered.
27. Review Australian Hardware simulated business documentation, including policies and procedures, relating to decision-making and management and employee responsibilities to assist in understanding and managing change within the business. Australian Hardware policies and procedures can be viewed online on Australian Hardware intranet
28. Complete force field diagrams for options 2 and 3 to help you determine which course of action to recommend to Emma and Rufus and assist their decision-making.
29. Complete Part 4 of the Decision Analysis Report by making a recommendation and outlining your reasoning why you have come to this conclusion.
30. Answer the assessment questions in Appendix 5.
31. Arrange a time and place with your assessor to complete your presentation.
32. Present your recommendations to one of the owner/managers of Australian Hardware as per role-play and presentation guidelines provided in Appendix 6.
Attachment:- Assessment.rar