Project Part 1: Strategic Decision-making, and Heuristics
Note: This is Part 1 of the Project Case Study and is due in Unit 4. Part 2 will be completed in Unit 5.
Assessed in this Assignment is course outcome GB519-4: Evaluate the role of heuristics and biases in decision making.
In Project Part 1, you will use CVP analysis and create a balanced scorecard. The various types of financial and non-financial measurements from multiple stakeholder perspectives will be used to give a more balanced view of business performance.
You have the opportunity to conduct research that will enhance your value as an asset to the organization for which you work. Your critical thinking and credibility as a communicator of information are vital, much desired, skills. Recent research conducted by Kaplan University's School of Business and Information Technology establishes that critical thinking and credibility in written communications are the two most important skills needed to meet the demands of the changing global business environment.
Part 1 of the Project, due at the end of this unit, requires you to complete an analysis and evaluation of a manufacturing organization. This evaluation will also provide the foundation for Part 2 of the Project. "The Organization" may be understood and used in three ways:
- You may use your own employer as the basis for the Project - If your employer is a manufacturer, it is appropriate to the Assignment and has the requisite information to support a graduate-level analysis. Use of an organization that is not appropriate may result in a diminished score. If you have any doubts, please contact your instructor for additional guidance.
- Another possibility would be to use a local manufacturing company willing to help you with your Project, even if you are not an employee.
- Next, if you are not employed, or if your employer is not appropriate to the assignment, you may select a different organization. You may use any organization of your choosing, but it must be appropriate to the Project.
NOTE: If you are self-employed or own your own company - it would NOT be an appropriate research subject. You must select another company to meet the requirements of the Project. One method for choosing a company will be to do an on-line search for a company that might interest you; then you may search the company's web-site as the basis for your Project.
A title page with properly formatted APA running head, an abstract and reference pages are required. Review the "APA Template" and the "APA Sample Paper" documents at the KU Writing Center for guidance.
1. Begin with an introduction to the organization. Identify its manufacturing segment. Detail briefly
the products manufactured by your organization, the company's market niche and/or customer base.
2. Identify significant costs in your organization. Some of the mandatory topics to research and present about your organization would include, but not be limited to: (a) costs associated with environmental concerns, (b) cost behavior, (c) prevention costs, (d) appraisal (detection) costs, (e) internal failure costs, or (f) external failure costs.
3. Include a section devoted to Cost-Volume-Profit Analysis (CVP). Review Chapter 3 in your textbook. The level of detail you include in this section is flexible. But, make sure your analysis is related to actual financial data from the company. Suggested metrics would include the contribution margin, Degree of Operating Leverage (DOL), breakeven point, and others. Remember, it is vital that you determine whether or not you will have access to this information BEFORE you start the project. Otherwise, you may not have time to change organizations later during the course.
4. Discuss budgeting considerations. Include the organization's budget process (for example, is it top- down, or bottom-up), the organization's budget variances and discuss management decisions related to budgeting.
5. Based on independent research and additional textbook readings, create a Balanced Scorecard, incorporating all four of the organizational dimensions (financial, customer, internal business (BSC), and learning and growth). Identify 2 or 3 Strategic Objectives (SO), also known as critical success factors (CSFs) for each category/perspective. Then, evaluate and analyze your organization's performance in relation to these critical success factors. (To help you with this part, review the material found on pages 16 and 17 of the textbook. Additionally, read pages 590 to 599 in the textbook in Chapter 11). NOTE: Do not simply cut and paste a BSC collected from an on-line source. Create your own BSC. Exhibit 11.10 on page 599 of your course text demonstrates the proper BSC format.
6. Create (again, the term "create" is very important - do not simply cut and paste a version collected from an on-line source) a "strategy map" for your organization. Your organization's strategy map MUST resemble Exhibit 11.9, seen on page 596 of your textbook. Include an explanation for each element in your strategy map. One thing to particularly note - The BSC and strategy map must be aligned - that is, the SO's must match. Please compare Exhibits 11.9 &
11.10 on pages 596 and 599 in the textbook. Please note that the elements in the BSC & the strategy map are fully coordinated.
7. End with a summary review (A formal "Conclusion" heading and section is required) of the performance evaluation. Use sub-headings to discuss key strengths and weaknesses of the organization and describe recommendations to be made to the current organizational strategy.
Part 1 of the Project should have a minimum of 9 and a maximum of 10 double-spaced pages, and will be evaluated for content, analysis, critical thinking, grammar, spelling, punctuation and formatting. So be sure to proofread and then proofread again! Be certain that you do a "Spell and Grammar" check on your Project paper before it is submitted to the Dropbox.
Include the appropriate use of headings and sub-headings for every section of the project. A good strategy will be to use the assignment rubric as a basic outline for headings and subheadings.
The 9 to 10-page minimum/maximum does not include the required title, abstract and reference list pages. Do not incorporate enlarged type, extra line spaces, extra points at the end of a line, over-sized graphs and charts, or unusual margins to artificially inflate the page length - the score will be significantly reduced if the proper APA formatting for these elements is not applied.