P5 Exam Technique Workshop 11 February 2016 Examples · 2020-06-17 · 11 February 2016 Examples...

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P5 Exam Technique Workshop 11 February 2016 Examples

Transcript of P5 Exam Technique Workshop 11 February 2016 Examples · 2020-06-17 · 11 February 2016 Examples...

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P5 Exam Technique Workshop

11 February 2016

Examples

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BBBB PROS NETWORK Better security Bluefin departments can share their info in a more secure way, using VPNs and encryption. This will eliminate the need for the USB stick transfer. Backups and software updates can happen more easily. DATABASE Better reporting With a database the school can set up professional templates that improve the quality of the reports E.g. this will fix comparability between departments, like the problem above. Save Time Teachers can focus on their classes instead of doing admin like creating reports from scratch. Higher quality teaching. INTERNET Connectivity This will let the all the schools in the district share info real-time. This means reporting at the district level will be easier, as the manual process of collecting documents, probably by email, then combining them, will be eliminated.

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CONS

New Risks These improvements will expose Bluefin to new risks. E.g. hackers can now attack the school from the internet. Costs These IT projects will be expensive. Does Bluefin have the budget for this? Public sector, might be tough. No expertise Bluefin has no IT competencies; they will need

new IT leadership.

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BBBB PERSPECTIVES CUSTOMER Brand Loyalty H&S is a premium brand and competing on differentiation (Porter) with high prices and high quality. Brand loyalty is critical to their approach. High loyalty means customers will pay higher prices, they will tell their friends, they will purchase again. Awareness Brand awareness means new customers can easily identify H&S by their cool designs or their logos. As they are a premium brand, they must maintain awareness—this is key to getting new customers. E.g. Apple focuses on this with their I Phones, making them seem different than Android. INTERNAL Loyalty Customers will only be loyal to H&S if they produce high quality clothes. They to have high quality production, maybe hand stitching, and excellent purchasing, e.g. high quality leather and zippers. Awareness Brand awareness comes from internal processes like marketing and advertising. H&S needs

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highly stylized ads in the right magazines to keep their image up. Maybe they will also do sponsorship, like having famous actors wear their leather jackets. MEASURES “You get what you measure.” This means that for H&S to be successful and achieve the CSFs above, like loyal customers and high quality productions, they have to choose the right KPIs to measure success. LOYALTY % Customers that re-purchase This will tell H&S if their customers are loyal by how often they repeat purchase. H&S could monitor this through some kind of loyalty program. Brand Awareness Ranking H&S can go to a specialized company who will measure and monitor their brand awareness ranking (maybe through a focus group?). They can benchmark against the competitors. INTERNAL % product returns This is a classic way to measure the quality. Spend on advertising make sure they are maintaining advertising

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PERFORMANCE PYRAMID EXPLAINED

This performance management system considers company needs at different levels of the organization. The main idea is that all the levels of the company are supporting the corporate vision, but have different objectives. E.g. at the top, the board is trying to reach an annual profit target, and at the operational level they are trying to get quality right. This model then promotes creating different KPIs for each level of the organization, linked to specific CSFs. It also looks from the internal and external perspectives. GRAVITON Here we see a listed company competing on differentiation. They produce ‘desirable, fashionable’ clothes and sell at ‘high prices.’ They have well defined CSFs: • Flexibility—they need new designs every few weeks delivered to the stores.

• Excellent supply chain—they need ‘design, manufacturing, distribution’ well-coordinated.

Graviton looks like Zara, the company that started the fast-fashion movement.

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EVALUATION OF SYSTEM The output from this system is the ‘dashboard’. Areas covered well by the dashboard: Financial Perspective We see 3 KPIs, revenue, operating profit, and ROCE. The report is for the board and they will be interested in these highly summarized key numbers, and it goes back several years so they can see a trends. Improvements Graviton is listed, so it would be good to see a KPI directly linked to shareholder value—missing in the dashboard. I would add EVA as a high-level KPI here—this is linked to the mission. We also see revenue growing a lot faster than profit, so margins are dropping. They need to put a focus on growing operating profit instead of sales (it looks like that is happening here), EVA might help this focus. I would also add a KPI that specifically measures dividend as this is a problem for Graviton (divi yield, for example.)

Delivery and cycle time

These cover core systems for Graviton.

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Supply chain has a good focus. We see ‘time-to-market’ and ‘on-time deliveries,’ critical to monitoring how well they do at rolling out new designs every few weeks. Design If Graviton wants to have desirable, fashionable clothes, they need good designs. ‘Awards Won’ seems like a good KPI to measure this and also looks from the external environment. Improvements: ‘Number of new designs per year’ would be helpful here to make sure they are staying innovative. PROBLEMS WITH THE SYSTEM No coverage of quality. This is a key operational level CSF. Graviton is struggling with quality as we see complaints and returns rising. Because ‘you get what you measure, they need to monitor this more closely. I would add KPIs here “# complains” and “# of returns.” No coverage of customer satisfaction Good to monitor-- this industry is highly competitive. Unsatisfied customers will go to competitors, e.g. H&M. No coverage of waste

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This might be useful for some stakeholders and linked to CSR, and linked to efficiency, too.

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