Operational and Financial Management

Module title	Operational and Financial Management
Module code	BEM1031DA
Academic year	2023/4
Credits	15
Module staff

Duration: Term	1	2	3
Duration: Weeks			8

Number students taking module (anticipated)	30

Module description

Operational management provides a critical link between design and execution of organisational strategy. As Stephen Case, Chairman and Chief Executive officer of America Online put it, “In the end, a vision without the ability to execute it is probably a hallucination”.

This module will explain the importance of understanding strategic direction and how to contribute to the strategic planning process through the creation and management of operational plans.

You will learn about the knowledge and skills required to create and deliver operational plans, such as the need to set key performance indicators, monitor quality and outcomes against the plan, and how to report on findings.

It will introduce you to tools and techniques to support planning, problem solving and decision making.

The role of operational managers in an organisation includes a need to work with finance colleagues to make appropriate decisions and ensure that revenue, profit and cash meet the needs of the organisation.

This module focuses on finance for managers and explains the importance of being able to understand key financial documents and make effective decisions concerning finance.

It will introduce you to approaches of forecasting, budgeting, financial control and reporting.

Module aims - intentions of the module

The aim of the module is to introduce and consolidate apprentice’s knowledge and learning around operational planning in the context of their workplace. To dissect their own organisations operational plans, consider the KPI’s and targets set and critically review these.

This module will also introduce key concepts around budgeting and data security which should be considered by an operational manager, and encourage apprentices to analyse these in their own organisational context.

Intended Learning Outcomes (ILOs)

ILO: Module-specific skills

On successfully completing the module you will be able to...

1. Consider the principles of operational planning in an organisation, managing change including contingency planning K1.1, K1.4, K1.5
2. Analyse financial forecasting within an organisation K3.1

ILO: Discipline-specific skills

On successfully completing the module you will be able to...

3. Discuss operational planning in line with organisational objectives K1.1
4. Monitor and measure the outcomes of operational planning, sales and marketing, setting targets K1.3
5. Address gaps and weaknesses in operational performance through effective decision making and continuous improvement K1.2
6. Consider data security and effective use of technology in an organisation K1.6
7. Monitor and manage budgets.K3.1, S3.1

ILO: Personal and key skills

On successfully completing the module you will be able to...

8. Manage and lead the delivery of an operational plan
9. Evaluate and manage financial information relevant to own role

Syllabus plan

Masterclass 1:

The concept of operational planning
How operational plans work within the organisation’s own policies and practices
Introducing analytical tools used to prepare the plan
The role of finance in an organisation
The role of forecasting and budgeting in the planning process

Masterclass 2:

Operational objectives and creating performance targets;
Performance monitoring and reporting, including:
Variance, problem and root cause analysis
Principles of Lean Systems Thinking

Using the SIPOC tool (Supplier, Inputs, Process, Outputs, Customer)

Operational resilience and sustainability

Equality, Diversity and Inclusion in context of initiating and managing change

Learning activities and teaching methods (given in hours of study time)

Scheduled Learning and Teaching Activities	Guided independent study	Placement / study abroad
19	131	0

Details of learning activities and teaching methods

Category	Hours of study time	Description
Masterclasses	12	The Masterclasses are designed to run either face to face or remotely to provide the expert led content of the module
Webinars	5	The webinars provide opportunity to dissect and discuss topics
1-1's	2	1-1s are arranged to provide an opportunity for apprentices to check understanding and discuss their assessments
Independent research, workplace activities and applied practice	131	Apprentices will all apply the theory to their own workplace and test out the strategies discussed in a live, applied way. Apprentices will then review, discuss and improve on these approaches.

Formative assessment

Form of assessment	Size of the assessment (eg length / duration)	ILOs assessed	Feedback method
Draft presentations buddy up	5 minutes	1-9	Peer feedback

Summative assessment (% of credit)

Coursework	Written exams	Practical exams
100	0	0

Details of summative assessment

Form of assessment	% of credit	Size of the assessment (eg length / duration)	ILOs assessed	Feedback method
Presentation	100	15 minute voice over powerpoint with 500 word accompanying notes	1-9	Written feedback via ELE
	0
	0
	0
	0
	0

Details of re-assessment (where required by referral or deferral)

Original form of assessment	Form of re-assessment	ILOs re-assessed	Timescale for re-assessment
Presentation	Presentation	1-9	Next re-assessment period

Indicative learning resources - Basic reading

Johnson, Whittington & Scholes (2012) Fundamentals of Strategy
Adair (2010) Strategic Leadership: how to think and plan strategically and provide direction
Atrill & McLaney (2015) Accounting and Finance for Non-Specialists

Indicative learning resources - Other resources

Plan Do Check Act cycle (Deming, 1950s)
Fishbone Diagram (Ishikawa, 1968)
Rational Decision Making (Kepner and Tregoe, 1965)

Key words search

Operational Planning. Budgeting

Credit value	15
Module ECTS	7.5
Module pre-requisites	None
Module co-requisites	None
NQF level (module)	4
Available as distance learning?	Yes
Origin date	25/07/2022
Last revision date	25/07/2022