The Extended Marketing Mix to Deliver Services - Accounting and Finance Assignment Help

Assignment Task:

TASK:

 
Q1: Use the extended marketing mix to deliver services. Imagining yourself as a manager, you will be involved in delivering a service. This may just mean that you engage with others or use a team to develop and deliver a service for internal or external customers. The purpose of this activity is to encourage you to explore how you can improve the way in which you deliver your service using the three additional elements of the extended marketing mix – people, process and physical evidence. In this activity, you will go through the problem-solving approach to identify first an internal or external service that you (or your team) currently deliver and how you deliver it, and then identify what issues/problems you face in doing this. It is likely that there are aspects of your current service delivery that you can identify with the extended marketing mix. If not, you might want to think about a service you have delivered in the past and which aspects, if any, of that service relate to the extended marketing mix. Either way, you should be able to identify a small problem in how you currently deliver a service.
The following table will guide you on how to approach attempting the activity
TABLE:  How I currently deliver a service and how it could be improved
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Q2: Calculate the following TWO Liquidity ratios from the given data 
QUICK RATIO
Let’s assume Kotak’s  Apparel  Store is applying for a loan to remodel the storefront. The bank asks Kotak  for a detailed balance sheet, so it can compute the quick ratio. Kotak’s balance sheet included the following accounts:
Cash: $20,000
Accounts Receivable: $5,000
Inventory: $5,000
Stock Investments: $2,000
Prepaid taxes: $500
Current Liabilities: $15,000
Compute the  Quick Ratio for the bank and analyze the ratio.
2. CURRENT RATIO
Rocky’s  Sports  Shop sells ice-skating equipment to local hockey teams. Rocky is applying for loans to help fund his dream of building an indoor skate rink. . Rocky bank asks for his balance sheet so they can analyze his current debt levels. According to  Rocky’s balance sheet, he reported $100,000 of current liabilities and only $25,000 of current assets. Compute the Current  Ratio for the bank and analyze the ratio  explaining   if  his CA will be covered by his Current Liabilities and if his loan will be approved.  
Q3: Calculate the following Financial Leverage ratios from the given data
· DEBT RATIO
· DEBT TO EQUITY RATIO
1. DEBT RATIO
Gupta’s Cycle Shop is thinking about building an addition onto the back of its existing building for more storage. Gupta consults with his banker about applying for a new loan. The bank asks for Gupta’s balance to examine his overall debt levels.
The banker discovers that Gupta has total assets of $150,000 and total liabilities of $37,000.
Calculate Gupta’s debt ratio and analyze whether the ratio is low or high and will be able to pay back his loans?
2. DEBT TO EQUITY RATIO
ABC Company has $120,000 of bank loans and a $500,000 mortgage on its property. The shareholders of the company have invested $1.4 million. Calculate the debt to equity ratio for ABC Company.
Q4: Activity 8 Identify the main cost drivers in your own organization or department. (Allow 3 hours for this activity.
In Activity  6 ( Finance), you identified your organization’s (or department’s) main indirect costs. This activity requires you to consider the cost drivers of the indirect costs. The purpose is to highlight how an understanding of cost drivers can improve decision-making or cost management, in a context with which you are familiar. 
Identify a decision-making or cost management problem in your/any other organization (or department) which could be addressed by a better knowledge of the cost drivers. Make recommendations as to how, using the appropriate cost driver information, the problem could be solved.
Use Table 8, given below to record your output. Think about each of the various indirect costs you have identified and try to identify the cost driver for each one. Is it the volume of output (number of units of a product or service produced), or some other activity not necessarily related to the volume of output? Having identified the cost drivers, think about how this knowledge could help in making decisions or managing costs and make recommendations accordingly.
Table 8
Problem identification
Analysis (investigation)
Conclusion to the analysis (results of the investigation)
The the solution, listed as a set of SMART recommendations 
Strengths and weaknesses of the recommendations 
The implications of the solution, if implemented 
Q5: Calculate the following two Liquidity ratios from the given data 
1.  Quick Ratio
 Let’s assume Kotak’s  Apparel  Store is applying for a loan to remodel the storefront. The bank asks Kotak  for a detailed balance sheet, so it can compute the quick ratio. Kotak’s balance sheet included the following accounts:
Cash: $20,000
Accounts Receivable: $5,000
Inventory: $5,000
Stock Investments: $2,000
Prepaid taxes: $500
Current Liabilities: $15,000
Compute the  Quick Ratio for the bank and  analyse the ratio.
2.    Current ratio 
Rocky’s  Sports  Shop sells ice-skating equipment to local hockey teams. Rocky is applying for loans to help fund his dream of building an indoor skate rink. . Rocky bank asks for his balance sheet so they can analyze his current debt levels. According to  Rocky’s balance sheet, he reported $100,000 of current liabilities and only $25,000 of current assets. 
Compute the Current  Ratio for the bank and analyze the ratio  explaining   if  his CA will be covered by his Current Liabilities and if his loan will be approved. 
Q6: Calculate the following Financial Leverage ratios from the given data
· DEBT RATIO
· DEBT TO EQUITY RATIO
1. DEBT RATIO
Gupta’s Cycle Shop is thinking about building an addition onto the back of its existing building for more storage. Gupta consults with his banker about applying for a new loan. The bank asks for Gupta’s balance to examine his overall debt levels.
The banker discovers that Gupta has total assets of $150,000 and total liabilities of $37,000.
Calculate Gupta’s debt ratio and analyze whether the ratio is low or high and will be able to payback his loans?
2. DEBT TO EQUITY RATIO
ABC Company has $120,000 of bank loan and a $500,000 mortgage on its property. The shareholders of the company have invested $1.4 million. Calculate the debt to equity ratio for ABC Company.
Q7: Calculate the following profitability ratios from the given data
1. GROSS MARGIN RATIO
2. RETURN ON ASSETS RATIO
1. GROSS MARGIN RATIO
Assume Jordan’s Clothing Store spent $200,000 on inventory for the year. Jordan was able to sell this inventory for $700,000. Unfortunately, $50,000 of the sales were returned by customers and refunded. Calculate his gross margin ratio and analyze if the ratio is high or low in the apparel industry.
2. RETURN ON ASSETS RATIO
Example
Charlie’s Construction Company is a growing construction business that has a few contracts to build storefronts in downtown Chicago. Charlie’s balance sheet shows beginning assets of $1,000,000 and an ending balance of $2,000,000 of assets. During the current year, Charlie’s company had a net income of $20,000,000. Calculate Charlie’s return on assets ratio and analyze whether it is a healthy return rate or not
Q8: Calculate the following Turnover ratios from the given scenarios.
· Accounts Receivable Turnover Ratio
· Assets Turnover Ratio
1. Accounts Receivable Turnover Ratio
Mini’s Ski Shop is a retail store that sells outdoor skiing equipment. Mini offers accounts to all of his main customers. At the end of the year, Mini’s balance sheet shows $15,000 in accounts receivable, $100,000 of gross credit sales, and $50,000 of returns. Last year’s balance sheet showed $15,000 of accounts receivable. Calculate Accounts Receivable Turnover Ratio for Mini.
Note: First calculate net credit sales and average accounts receivable.
2. Assets Turnover Ratio
Benten’s Tech Company is a tech start-up company that manufactures a new tablet computer. Sally is currently looking for new investors and has a meeting with an angel investor. The investor wants to know how well Benten uses his assets to produce sales, so he asks for his financial statements.
Here is what the financial statements reported:
Beginning Assets: $60,000
Ending Assets: $120,000
Net Sales: $30,000
Calculate asset turnover ratio and suggest if Benten’s start-up will be efficient with the use of assets.
Q9: Find below the  receipts and payments A/c  was prepared by Harris Sports Club for the year ended December 31, 2018:
Harris Sports Club
Receipts and Payments Account
For the year ending 31 December 2018
Receipts $ Payments  
Receiptsb/d 8,600 Supports equipment 
(purchases on Oct 1, 2018) 21,000
Subscriptions:   Electricity 2,000
2017 5,000 Salaries & Wages 7,800
2018 38,000 Exhibition expenses 4,200
2019 1,800 Tournament expenses  5,000
Interest on Investment 1,600 Printing 600
Entrance Fee 4,000 Balance c/d           18.400
  59,000  59,000

Additional Information
Subscription for 2018 received in 2017 – $2,000.
2.     Unpaid subscription for 2018  – $500.
3.     Fixed assets of the club on January 1, 2018 includes: Club ground – $55,000; Supports equipment – $40,000; Furniture – $6,000.
4.     Depreciation to be charged @10% p.a. on furniture and @ 20% p.a. on supports equipment.
Required: Using above information, prepare an income and expenditure account of Harris Sports Club for the year ended December 31, 2018.
Q10: Identify performance measures used in your own or any other organization and problems arising from their use. (Allow 2 hours for this activity.) 
Reading 1 
Why is performance measurement a necessary part of organizational management? Reading 1, Internal performance measurement discusses why an important role of an organization’s finance function is measuring and reporting the performance of each part of the organization and its manager/s. As you read, think about why it is usually necessary to measure non-financial performance indicators as well as financial performance indicators, and also about how these might conflict with each other. Think also about why a standard of comparison is necessary for meaningful performance evaluation and about the possible difficulties of obtaining an appropriate standard. 
After completing this reading, you should have an understanding of why internal performance measurement is an important part of organizational control and why it is often highly problematic!
Activity 06
This activity requires you to consider (internal) performance measurement in your own organisation. The purpose is to highlight the need for and problems of performance measurement in a context with which you are familiar.
Identify two or three (internal) performance measures that are used in your own organization, or an organization with which you are familiar. When you have selected the performance measures, identify one or more problems that arise as a result of the use of these measures in performance evaluation. The problems you identify may relate to people behaving in undesirable ways in order to meet performance targets. Alternatively, they may relate to the level at which targets are set or the degree to which those held responsible can actually influence the achievement of performance targets.
 Make brief notes (these need be no more than 300 words) in a Word document with the title: TGF 6 (EMA)   – Performance measures and problems arising in my organization.
Q11: Reading  
What are the consequences of an overemphasis on measuring and reporting financial performance indicators? Reading 3, The Balanced Scorecard, discusses the need for a range of non-financial as well as financial performance indicators to ensure attainment of long-term organizational objectives. 
Think about the possibility of introducing an additional measurement perspective, concerned with corporate social responsibility (CSR) issues: climate change, sustainability, and ethical behavior. Organizations are increasingly coming under pressure from both legislation and stakeholder demands to perform in these areas and it is unlikely that they will achieve or maintain competitive advantage without high performance on CSR factors. Consequently, such factors should be reflected in the organization’s balanced scorecard. You should also think carefully, however, about the inherent problems of such a multi-measure approach. 
After completing this reading, you should have an understanding of the need for a range of financial and non-financial performance indicators to facilitate a properly balanced evaluation of performance – and of the problems arising with such an approach!
Activity 7:  Identify critical success factors and key performance indicators for a commercial organization. (Allow 1 hour for this activity.)
 
This activity requires you to identify some of the performance indicators that might be included in a balanced scorecard. The purpose is to provide a practical illustration of the construction of a scorecard, including the importance of linking performance measures to organizational strategy. 
Consider a commercial airline operating a five-perspective balanced scorecard (including a CSR perspective). Identify two critical success factors and associated key performance indicators for each balanced scorecard perspective.
The critical success factors you identify are likely to depend on which market segment the airline is competing in the low price or superior service quality segment. You will need to make an explicit choice of the segment in order to identify the factors that are critical to the airline’s ability to compete successfully.
In considering appropriate critical success factors and key performance indicators remember, also, that a commercial airline is a particularly significant organization in terms of environmental impact! 
Make brief notes (these need be no more than about 400 words) in a Word document with the title: TGF 7(EMA)  – Critical success factors and key performance indicators for airline scorecard.
Q12: Reading : Performance Indicators
How can the performance of an organization (or organizational segment) be evaluated when it is not possible to assign a monetary value to its outputs (that is, to quantify the benefits it produces)? Reading 4, The four Es: economy, efficiency, effectiveness, and equity, discusses possible approaches to performance evaluation when the profit measure is absent, as in the public sector and not-for-profit sectors. As you read, think carefully about the significance of each of the four Es and also about possible conflicts between them (for example between effectiveness and efficiency). After completing this reading, you should have an understanding of a widely used framework for evaluating value for money performance. You should also have an understanding of how some of the four Es may be achieved at the expense of others, making the overall evaluation of performance difficult! 
Activity 8
Identify performance indicators for each of the four Es (economy, efficiency, effectiveness and equity) for a not-for-profit organization. (Allow 2 hours for this activity.)
This activity requires you to identify appropriate value for money performance indicators for a particular not-for-profit organization: a hospital. The purpose is to highlight some of the difficulties in assessing value for money performance and in particular the conflicts that often arise between the objectives of economy, efficiency, effectiveness, and equity. In measuring performance in the public sector, it is important to consider the resource inputs, the services provided (intermediate outputs), and the impact of these services (final outcomes). Consider, for example, the cancer unit of the hospital that provides services such as chemotherapy to patients. The main inputs, outputs, and outcomes are shown in Table 8.1.. The 4 E’s 
Table 8.1 The Four E’s
Resource Inputs Services provided (=outputs) Impact (=outcomes)
Beds, staff, drugs, laboratory services, clinical equipment, etc.  Chemotherapy sessions, malignancy removed, post-survival treatment Normal lifestyle, quality of life, readmissions, death 
 
In the context of the cancer unit: 
·         The economy is concerned with procuring beds, staff, drugs, laboratory services, and so on at the minimum cost for an acceptable quantity and quality of resource. 
·         Efficiency is concerned with using the minimum amount of resources – staff, drugs, laboratory services, and so on – to provide a specified volume and quality of service, for example, chemotherapy sessions. 
·         . Effectiveness is concerned with whether the treatments provided – chemotherapy, malignancy removal, and so on – are having the desired impact, for example survival, resumption of a normal lifestyle, and so on. 
·         .Equity is concerned with ensuring, for example, that all members of the community have equal access to the services provided.
Identify two appropriate performance indicators for each of the four Es for the hospital’s cancer unit. What possible conflicts may arise between these measures and how could the cancer unit’s managers deal with these conflicts? 
Make brief notes (these need be no more than about 500 words) in a Word document with the title:  TGF 8( EMA) Performance indicators for the hospital cancer unit.
Q13: Part 1 REPORT WRITING
The word limit for the EMA 2500 words. You have two different work-based problems.In this part you are required to identify and analyse a problem related to the marketing mix offered by your/any other selected organisation or work group and a problem related to performance measurement (this is not the same as performance appraisal) in your organisation or work group.
You will need to do the following.
Briefly explain the context of your work and your role within it. If you are not working, then imagine yourself working in the profile of a manager in an organisation. Briefly describe your organisation and your role played in the organisation. ( 5 marks, 250 words)
Identify the marketing mix used by your selected organisation (or your department or workgroup) in its exchanges with one key stakeholder group (e.g. customers)(10 marks, 300 words)
Identify and analyse a problem related to one element of that marketing mix.( 15 marks, 550 words)
Suggest solution(s) for the problem analysed. ( 5 marks, 250 words)
Identifyandanalyseaproblemrelatedtoperformancemeasurementinyourorganisation or another organisation with which you are familiar. (based on TGF Activity 6 in the Module Activities). (20 marks, 950 words)
F. Suggest solution(s) for the problem analysed.( 5 marks, 200 words)
Guidance for the Report: Part 1
 The tasks for this part of the assignment can be answered regardless of the work context. You are required to write a report attempting the above questions.
 The ideas and concepts from B629 need to be used to analyse the problem and inform your recommendations. Use the concepts from across the module and integrate them into the report. The use of those ideas and concepts should be quite explicit. It is recommended that you use a few ideas and concepts from B628 and/or the Manager’s Good Study Guide (available on LMS).
Section A (250 words)
 In section A you can select the organisation you are working in. If you are not working then you can select any other organisation from any industry. E.g. FMCG, Car industry or service industry.
 Provide a very brief description of the organisation selected. This section should contain some information about what the organisation is, what it does, who its customers or other key stakeholders are and what your own role is. Include information about your work group or department if this is relevant to the problems that you have chosen to analyse in the remainder of Part 1.
 The challenge here is to be informative yet concise. Make sure you use your own words; Section B (300 words)
 This part of the question relates to marketing part from B629. It is to test the understanding of marketing concepts and their application to the work presented.
 Describe the marketing mix that the selected organisation (or your department work group) uses in its exchanges with one key stakeholder group (such as a group of internal or external customers). The organisation may well use several marketing mixes for different customer or stakeholder groups. If this is the case, you only need to describe one of these here. Often it will be best to choose a marketing mix with which you are very familiar and where you are involved in the delivery in some way. However, there may be exceptions to this, if another marketing mix lends itself more easily to be described fully in the terms you have studied in B629.
 Describe the marketing mix in terms of all 7Ps (‘elements’ – product, price, place, promotion, people, processes, physical evidence). Provide equal information on each of the elements. In some cases it may be sufficient to explain that a certain element is not very relevant to the overall shape of the marketing mix and why this is so (e.g. internal services may not be specifically priced); you should then make this clear and state why this is so.
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Section C (550 words)
 Identify, analyse and summarise one problem associated with the marketing mix you described in Section (b). This needs to start with a brief identification of the problem, stating the element of the marketing mix to which it relates. This should then be followed by an analysis of the problem, using concepts from B629. Finally, the section
should finish with a brief summary of both the problem and the analysis.
 The analysis should comprise the largest part of this section. Choosing a suitable problem is important, so that you are able to analyse it properly, using relevant module concepts. You should choose one that you have direct experience of and, preferably, some control. It should focus mainly on one applicable element of the marketing mix (i.e. one of the 7Ps). However, many problems may have a bearing on other elements of the marketing mix, too, and your analysis should make this clear.
 Remember to use concepts from B629; so, for example, if you choose to focus on the 'people' element of the extended marketing mix, you need to analyse it specifically with a view on how it impacts customers and marketing, not merely from a people management perspective (the latter is a common cause of poor student performance). It is quite possible to write a good EMA focusing on a people, physical evidence or process issues as long as you remember to analyse this very clearly from a marketing perspective.
Section D (250 words)
Make one or more brief recommendations following directly from your analysis and summary in Section (c). Keep this section short and to the point. You do not need to explain in detail what the implications, advantages or drawbacks of your recommendation(s) are. The recommendation(s) should be realistic and feasible.
Section E (950 words)
 Sections E relate to the financial information part of B629.
 Identify, analyse and summarise one problem relating to performance measurement in the selected organisation. This needs to start with a brief identification of the problem, a longer and more thorough analysis and a very brief summary of both the problem and the analysis.
 The analysis should comprise the largest part of this section. Again, it is important to choose a suitable problem. Make sure you choose the problem in such a way that it can be analysed using concepts from the financial information part of B629, particularly concepts from Week 6. The further guidance on TGF 6 - EMA provided in Module Activities can also help with completing this section. We expect better answers to state the complexities associated with the problem and to identify the relevant module themes.
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Section F (200 words)
 Sections F relates to the financial information part of B629.
 Make one or more brief recommendations following directly from your analysis and summary in Section (e). Keep this section short and to the point. You do not need to explain in detail what the implications, advantages or drawbacks of your recommendation(s) are. However, your recommendation(s) should be realistic and feasible.
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Structure of Part 1:
Provide citations within the text of your EMA and a list of references at the end, as for all B629 assignments.
Poor structure, presentation and referencing can detract significantly from the quality of your work and will result in a reduced mark for your EMA
Word count and penalties
The word limit for Part 1 is 2500 words. The word count for Part 1 of the EMA does not include diagrams, reference list, the cover, table of contents, the summary or appendices, but does include text in tables and in-text citations.Include a note of the word count of Part 1 of your EMA either at the beginning or at the end of your Part 1 report.

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