OPERATIONS MANAGEMENT WITH FINANCE & MARKETING (APPRENTICESHIP) - 2022/3

Module Overview

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. Learners will take full accountability for their recommendations and be confident in leading and managing complex work programmes.

Module provider

Hospitality, Tourism & Events Management

Module Leader

ASHTON Mark (Hosp & Tour)

Number of Credits: 15

ECTS Credits: 7.5

Framework: FHEQ Level 7

JACs code:

Module cap (Maximum number of students): N/A

Module Availability

Teaching block 1

Prerequisites / Co-requisites

N/A

Module content

• Operations and finance overview


• Operations strategy and operations synergy, evaluating financial and non-financial information


• Business and operational planning, including procurement and supply chain management


• Marketing strategies in light of changing customer demand and trend analysis


• Horizon scanning to delivery high performance and growth


• Challenging current strategies and operational practice


• Developing competitive strategies and entrepreneurialism, challenging financial assumptions underpinning strategies


• Financial strategies, modelling and trend analysis


• Management accounts and investment analysis


• Control and performance measurement, including financial governance and legal requirements


• Performance analysis, evaluation and using key performance indicators to make decisions / allocate resources


• Brand reputation and management

Assessment pattern

Alternative Assessment

N/A

Assessment Strategy

The assessment strategy is designed to provide learners with the opportunity to demonstrate their understanding and application of the core learning outcomes for the module and the full range of knowledge, skills and behaviours identified above. It is designed to draw on the learners experiences 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. 

Summative assessment:

Individual Business Performance Report – 90%

An individual report of 3,000 words evaluating the operational, financial and marketing performance of the simulation business, the actions taken and suggesting alternative solutions.

Individual E-portfolio – 10%

Learners will be required to reflect on the application of their learning in the workplace and produce a short video (5 minutes) to explain what they would do differently in their workplace, given the learning gained from the simulation exercise. What is their strategy for improvement.

Formative assessment

Learners will work regularly in groups and as individuals, participating in classroom or online discussion forums and webinars, to demonstrate their understanding of the subject contents and application. Learners will be required to complete online guided learning activities that demonstrate the ability to analyse key components of organisational strategy. Awareness will be built up by learners being required to lead and participate to share understanding and knowledge of elements of organisational strategy. For example, learners may be required to present online a short presentation containing information from their organisation. Learners will receive peer feedback as well as comments from the academic and industry subject matter experts.

Feedback

Learners will be given formal feedback on their assessments and receive regular, informal feedback on their contribution throughout the module.

Module aims

• 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 learners with the necessary judgement to take decisions about the future of an operation and evaluate their results.

Learning outcomes

Methods of Teaching / Learning

The hours listed within the overall student workload section represent off-the-job learning. The teaching and learning methods incorporate a blended learning approach, centred around the key online learning design principles of – Learner centred; Useful; Engaging; Flexible; Consistent; Supportive and Accessible.

In line with the Apprenticeship Off the Job Training guidance, the teaching and learning undertaken on this module will reflect the following categories of training:

1. Teaching of Theory. (May include lectures, role play, simulation exercises, online learning, research and networking)

2. Practical Training. (May include shadowing, mentoring, industry visits and participation in guided activities to apply the theoretical knowledge, concepts and models in the day-to-day working practice).

3. Learning support and time spent writing assignments and partaking in assessments.

4. Reflective learning and self-evaluation to impart new knowledge, skills and behaviours only. (E-portfolio)

Learners taking this module will cover theoretical aspects with a mix of campus-based sessions, online and self-directed learning activities. Learners will be expected to demonstrate commitment to independent learning and take an active part in any asynchronous activities such as forums, wikis, blogs etc., as well as synchronous activities (i.e. virtual meetings) where appropriate. Participation in these activities, with emphasis on the self-directed learning activities, will be essential to the successful achievement of learning outcomes in this unit.

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

https://readinglists.surrey.ac.uk
Upon accessing the reading list, please search for the module using the module code: MANM476

Other information

Degree apprenticeships are delivered over three teaching blocks:

• Teaching Block 1 - September - December
• Teaching Block 2 - January - April
• Teaching Block 3 - May – August

The planning of this module is underpinned by the Senior Leader Master’s Degree Apprenticeship Standard. Learners who are studying this module as part of an apprenticeship should also refer to the Senior Leader Standards. Studying this module will support learners to produce suitable evidence for their e-portfolio to fully or partially meet specific Senior Leader standards listed below:

Organisational Performance – delivering a long-term purpose

Strategy:

• Understands organisational structures; business modelling; diversity; global perspectives; governance and accountability; the external environment, social, technological and policy implications. (K2)
• Understands new market strategies, changing customer demands and trend analysis. (K3)
• Use of horizon scanning and conceptualisation to deliver high performance strategies focusing on growth/sustainable outcomes. (S1)
• Able to undertake research, and critically analyse and integrate complex information. (S3)

Innovation & Change:

• Knowledge of systems thinking, knowledge/data management, and programme management. (K5)

Enterprise and Risk:

• Understands competitive strategies and entrepreneurialism, approaches to effective decision making, and the use of big data and insight to implement and manage change. (K7)
• Challenge strategies and operations in terms of ethics, responsibility, sustainability, resource allocation and business continuity/risk management. (S7)

Finance:

• Understands financial strategies including scenarios, modelling and identifying trends, application of economic theory to decision-making, and how to evaluate financial and nonfinancial information. (K8)
• Understands financial governance and legal requirements, and procurement strategies. (K9)
• Oversees financial strategies/management, results and setting organisational budgets, and challenges financial assumptions underpinning strategies. (S9)
• Is accountable for decisions based on relevant information e.g. Key Performance Indicators/scorecard. (S10)
• Uses financial data to allocate resources. (S11)

Interpersonal Excellence Leading people and developing collaborative relationships:

Engaging Employees

• Uses personal presence and “storytelling” to articulate and translate vision into operational strategies, demonstrating clarity in thinking and using inspirational communication. (S13)
• Gives and receives feedback at all levels, building confidence and developing trust, and enables people to take risks. (S15)

Personal and interpersonal effectiveness

Leads by Example

• Works collaboratively enabling empowerment and delegation. Acts with humility and authenticity, is credible, confident and resilient. (B2)

Judgement and Challenge

• Demonstrates flexibility and willingness to challenge when making decisions and solving problems. (B4)

Courage & Curiosity

• Is confident and brave, willing to innovate, seeks new ideas and looks for contingencies. (B5)
• Manages complexity and ambiguity, comfortable in uncertainty, and is pragmatic. (B6)

Professional

• Reflects on own performance, demonstrates professional standards in relation behaviour and ongoing development. (B9)
• Advocates the use of good practice within and outside the organisation. (B10)

K – Knowledge                              S – Skills                                               B - Behaviours

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 2022/3 academic year.