OPERATIONS MANAGEMENT WITH FINANCE AND MARKETING (BLENDED LEARNING) - 2018/9
Module code: MANM461
Learners successfully completing this module will have the knowledge, skills and behaviours to operate in complex, unpredictable and ambiguous contexts. Learners will be able to critically evaluate current operational and financial practices, identify areas of inefficiency and offer appropriate, well researched and informed solutions. The learner will take full accountability for their recommendations and be confident in leading and managing complex work programmes.
Hospitality, Tourism & Events Management
ASHTON Mark (Hosp & Tour)
Number of Credits: 15
ECTS Credits: 7.5
Framework: FHEQ Level 7
JACs code: N210
Module cap (Maximum number of students): N/A
Prerequisites / Co-requisites
All participants must meet the entry criteria for the Programme.
Indicative content includes (Industry Learning Outcomes):
- Operations and finance overview (PDD1)
- Operations strategy and operations synergy, evaluating financial and non-financial information (PDD1)
- Business and operational planning, including procurement and supply chain management (PDD3)
- Marketing strategies in light of changing customer demand and trend analysis (PSC1)
- Horizon scanning to delivery high performance and growth (PDA4)
- Challenging current strategies and operational practice (PDC2)
- Developing competitive strategies and entrepreneurialism, challenging financial assumptions underpinning strategies (PDC2)
- Financial strategies, modelling and trend analysis (PSD1)
- Management accounts and investment analysis (PDD1)
- Control and performance measurement, including financial governance and legal requirements (PDD2)
- Performance analysis, evaluation and using key performance indicators to make decisions / allocate resources (PSD2, PSD3)
- Brand reputation and management (PDG3)
|Assessment type||Unit of assessment||Weighting|
|Coursework||Business Performance Report||45|
|Coursework||Focused Academic Essay||45|
The assessment strategy is designed to draw on the learners experiences through the exercise to build up a picture of the rationale and principles used to manage the business and explain the results achieved. In addition, learners are asked to comment critically on the performance of their business as a whole and identify where alternative actions could have been taken. The final element of the work requires the learner to explore an individual area of theoretical study in greater detail and apply this to the both the simulation and their own company.
Thus, the summative assessment for this module consists of:
Business Performance Report – 45%
An individual report of 2,000 words evaluating the operational, financial and marketing performance of the simulation business, the actions taken and suggesting alternative solutions.
Focused Academic Essay – 45%
An individual academic essay of 2,000 words focusing on one area of theoretical study (operations, finance or management) and applying the appropriate literature to the results of the simulation business along with comparisons to the learner’s own companies results and explain how and why these are in-line with or deviate from the theoretical position and suggest reasons for this behaviour.
E-portfolio – 10% of marks
Learners will be required to reflect on the application of this learning in the workplace. Using reflection and other analytical skills the learners will be required to produce a critical reflection of their learning through the production of a 1,000 word reflection log.
Each week of the teaching block learners will be working in groups during the workshops and will receive detailed feedback on the performance of their hotel and will be given the opportunity to clarify any areas of misunderstanding and test out strategies for improvement. Feedback Learners will be able to receive feedback on the impact and outcomes of their decisions as they progress through the simulation. Learners will also receive written feedback on their final submission within the University’s three week deadline.
- This module aims to provide learners with a systematic understanding of the operational factors that influence the effective, efficient and profitable running of their own organisation. The module will focus predominantly on understanding marketing and financial operations and is designed to complement the module on Strategic Human Resource Management which focuses on the impact of people on operations. The module will use a computer-based simulation exercise to allow learners to experience the dynamics and complex interactions of operations. It also aims to equip learnerswith the necessary judgement to take decisions about the future of an operation and evaluate their results.
|001||Establish an operating strategy for a business operation and translate that into outline operating objectives||CPT|
|002||Demonstrate an integrated and deep understanding of how operational functions interact to control, measure and manage company performance||KT|
|003||To prepare, understand and interrogate/analyse different operational data and financial statements, able to synthesise and draw effective conclusions from financial statements||KC|
|004||Synthesise horizon scanning, trend analysis and other qualitative and quantitative approaches to develop effective market strategies||KCP|
|005||Develop analytical techniques to critique current operational practice and to deliver recommendations for new operational practices||KCP|
|006||Propose and justify future action to return the operation to the desired position||CPT|
|007||Evaluate the results of action taken||KC|
C - Cognitive/analytical
K - Subject knowledge
T - Transferable skills
P - Professional/Practical skills
Overall student workload
Independent Study Hours: 100
Lecture Hours: 10
Methods of Teaching / Learning
The learning and teaching strategy is designed to adopt an integrated teaching, learning and assessment strategy that is intended to develop an independent learning culture within learners that is both challenging and rewarding. Learners will be expected to reflect on their professional knowledge, experience and practice to be able to meet the demands of a Master’s level programme. The teaching strategy will be informed by leading edge research and good practice in operational management. The module will be delivered through a combination of academic staff and leading industry practitioners to ensure that it is both academically rigorous and relevant to current professional practice.
The learning and teaching methods include:
- The use of a business simulation which is a competitive management exercise approximating a real-world environment in which several free-standing organisations are competing for business in a closed, but elastic, economic system.
- Underlying theories, concepts and models will be linked to the computer-based simulation and will be explained through an initial module orientation day including lectures and workshops, then followed up with periodic online activities. These will expand on some of the key underlying principles and issues discovered through the discussion of the simulation exercise.
- The on-line simulation will be run on a weekly basis and learners will be required to share their simulation results and experiences through periodic online discussion forums on SurreyLearn which the tutor will also contribute to. These will allow discussion of the performance of each business and the market place as a whole and the opportunity to clarify any areas of misunderstanding and test strategies for improvement.
- Learners will be required to test and apply their understanding of the concepts through the completion of the assignments which will be guided through a further day of attendance at University where the final simulation results will be explored through presentations from learners and the tutor.
Indicated Lecture Hours (which may also include seminars, tutorials, workshops and other contact time) are approximate and may include in-class tests where one or more of these are an assessment on the module. In-class tests are scheduled/organised separately to taught content and will be published on to student personal timetables, where they apply to taken modules, as soon as they are finalised by central administration. This will usually be after the initial publication of the teaching timetable for the relevant semester.
Reading list for OPERATIONS MANAGEMENT WITH FINANCE AND MARKETING (BLENDED LEARNING) : http://aspire.surrey.ac.uk/modules/manm461
Please note that the information detailed within this record is accurate at the time of publishing and may be subject to change. This record contains information for the most up to date version of the programme / module for the 2018/9 academic year.