ACCA P5真题Word文档格式.docx

1、The question paper begins on page 3.21Boltzman Machines （Boltzman） is a listed, multinational engineering business. It has two divisions, onemanufacturing aerospace parts and the other automotive parts. The company is known for innovation and it allowsits managers much autonomy to run their own divi

2、sions and projects. There has been recent criticism at ashareholders meeting of the executive management for not listening to shareholders concerns and allowing thisautonomy to run out of control. Therefore, the board at Boltzman have decided to create a framework which bringstogether all of the ini

3、tiatives described below.The chief executive officer （CEO） feels that the performance prism may be a suitable model and has asked you to drafta report to the board to explain the model and how Boltzmans existing initiatives fit within it. The initiatives which are running at present are:1.2.An analy

4、sis of stakeholder influence at Boltzman leading to suitable strategic performance measures.A benchmarking exercise of the performance measures from initiative 1 with Boltzmans main competitor,General Machines.3.The introduction of quality initiatives bringing lean production methods to Boltzman.The

5、 CEO also requires your input on each of these initiatives as they are all at various stages of progress:First, a stakeholder analysis has been completed by one of Boltzmans managers （in Appendix 1） but she has goneon holiday and has not written up a commentary of her results. Therefore, the CEO wan

6、ts you to take the informationin Appendix 1 and explain the results and evaluate the suggested performance measures. The CEO has asked thatyou do not, at this stage, suggest long lists of additional indicators.Second, the CEO wants you to use these suggested measures to benchmark the performance of

7、Boltzman againstGeneral Machines. The CEO stated, Make sure that you calculate the measures given in Appendix 1. You should alsoadd two justified measures of your own using the data provided. However, restrict yourself to these seven measuresand dont drown us with detail about individual business un

8、its. A junior analyst has gathered data to use in thebenchmarking exercise in Appendix 2.Third, the company has stated that one of its strategic aims is to be the highest quality supplier in the market place.In order to achieve this, the head of the aerospace division has already started a project t

9、o implement just-in-time（JIT） manufacturing. An extract of his email proposing this change is given in Appendix 3. The CEO feels that thereare some important elements hinted at but not developed in this email. In particular, the CEO wants you to explainthe problems of moving to JIT manufacturing.Req

10、uired:Prepare a report to the board of Boltzman to:（i）Explain the facets of the performance prism and discuss how the three initiatives relate to the facets.（9 marks）（ii） Briefly justify appropriate management approaches to each of the stakeholders and, based on this analysis,evaluate the appropriat

11、eness of the performance measures suggested in Appendix 1. （14 marks）（iii） Benchmark Boltzman against General Machines as suggested by the CEO, evaluating the approach tobenchmarking used. （16 marks）（iv） Explain the problems which will accompany a move towards just-in-time manufacturing at Boltzman.

12、（7 marks）Professional marks will be awarded for the format, style and structure of the discussion of your answer.（4 marks）（50 marks）3P.T.O.Appendix 1Key stakeholdersShareholdersLevel of interestLevel of powerLow institutions have delegatedmanagement to the board and areonly interested in financial r

13、eturnsHigh ability to vote out existingmanagementEmployeesCustomersMedium in a high skill industryemployees are interested in the newopportunities which the market canpresentLow although there is a group ofkey employees in productdevelopment whose skills must notbe lostMedium some of the parts suppl

14、ied High as there are few majorby Boltzman are unique andplayers in the aerospace andspecifically designed for the customer automotive businesses, the loss of acustomer would have a significantimpact on BoltzmanSuppliersMedium Boltzman is one of thelarge customers to many of thecompanys suppliersLow

15、 the suppliers are generallybulk component producers and thereis significant competition forBoltzmans businessSuggested performance measures:Return on capital employedEconomic value addedRevenue growthAverage pay per employeeNet profit marginAppendix 2The figures are drawn from the financial stateme

16、nts for the year to September 2014.Boltzman$mGeneral Machines2014RevenueCost of salesOther costs23,94318,07825,69520,6052,9583,208Operating profitFinancing costsTax2,9072911,882316663718Net income1,9538482013Non-current assetsCurrent assets 16,33516,98817,71617,89310,61811,04311,51511,63026,9538,984

17、9,80128,0319,9619,73929,23129,52310,08310,405Equity Non-current liabilitiesCurrent liabilities9,74410,6298,1688,3318,8589,0354Notes:No of employeesStaff costsRevenue for 2013Product development costs86,6204,73122,5062,68493,9404,91325,4382,630（$m）No. of top 10 biggest potential customers where the b

18、usiness has top tier supplier statusAerospace678AutomotiveA suitable cost of capital for both companies is 11%.The tax rate is 28%.Appendix 3Extract of Head of Aerospaces email on his quality initiative:In order to improve the quality and profitability of our products, we intend to begin by introduc

19、ing a lean approach tomanufacturing.The first step in our move to lean manufacturing will be the introduction of JIT manufacturing. Although this will bea difficult process, the financial rewards in reduced working capital required and a decluttering of the workplaceshould be significant. We will ha

20、ve to consider how this change impacts up and down our supply chain withcustomers and suppliers.5Beeshire Local Authority （BLA） is a local government body which provides a range of services for the area of Beeshirewithin the country of Seeland. Beeshire is a wealthy area within the country with many

21、 tourist attractions. One ofBLAs tasks is to ensure that waste is collected from the homes and businesses in Beeshire. The goal for BLAs wastemanagement department is to maintain Beeshire as a safe, clean and environmentally friendly place where peopleand businesses want to both stay in and return t

22、o. The need for waste collection is linked to public health concerns,the desire to keep the streets clean and attractive and the desire to increase the amount of rubbish which is recycled.BLA is funded through a single local tax and does not charge its residents or businesses separately for most of

23、itsservices, including waste collection. There is no public or political appetite for outsourcing services such as wastemanagement.Waste collection is performed by the workforce using a fleet of vehicles. The waste is either taken to recycling plantsor else to landfill sites for burying. BLA obtains

24、 revenues from all the recycled waste but this only just covers the costof running the recycling facilities. Against a background estimate that waste will increase by 1% p.a. in the future, the national government has orderedlocal authorities, such as BLA, to promote the recycling of waste and has s

25、et a target of 40% of all waste to be recycledby 2015. In order to discourage the creation of non-recyclable waste, the government has imposed a levy per tonneof waste buried in landfill sites and has stated that this levy will rise over the next five years in order to encouragecontinuing improvemen

26、t in the amount of recycled waste.Currently, Seeland is in a long recession and so local authority revenues have fallen as tax revenues reflect the poorstate of the economy. Along with other local authorities, BLA has tried to cut costs and so has focused on financialmeasures of performance. In a re

27、cent, private meeting, the chief executive of BLA was heard to say keep costs undercontrol and we will worry about quality of service only when complaint levels build to an unacceptable level. As oneof the areas largest employers, cutting staff numbers has been very difficult for BLA due to the impact on the localeconomy and the reaction of the residents.The current performance indicators used at BLA are drawn from the existing information systems wit