12月apm考前沖刺03模型專題

Objective

PARTA–BPR,Valuechain

PARTC–Lean

PARTD–Managementstyle,VFM,Leaguetable,Qualitymodels

PARTE–BSC,Performancepyramid,ABM,VBM,Corporatefailure

Definition

Fundamentalrethinking

Radicalredesign

Processes

Dramaticimprovements

Problems

Significantchangesthataffectstaffwidely

Improvesefficiencybutmayignoreeffectiveness

e.g.reducedinnovationandcreativity

Workerswillstillworkwithinstructuresandsystemsimposedbyothers.

Definition

Thevaluechain‘disaggregatesafirmintoitsstrategicallyrelevantactivitiesinordertounderstandthebehaviourofcostsandtheexistingandpotentialsourcesofdifferentiation.

Afirmgainscompetitiveadvantagebyperformingthesestrategicallyimportantactivitiesmorecheaplyorbetterthanitscompetitors

Activities

Copyright@Lily.Wang

Linkages

Activitiesinthevaluechainaffectoneanother.

Linkagesrequireco-ordination.

Adv

Inventneworbetterwaystodoactivities

Combineactivitiesinneworbetterways

Managethelinkagesinitsownvaluechain

Managethelinkagesinthevaluesystem

Otherconsiderations

Itismeasuringitsperformanceinthosekeyareaswhichcreatevalueforitscustomer.

Needstocompareitsperformanceagainstothers.

Definition

Itsgoalis'togettherightthingstotherightplaceattherighttime,thefirsttime,whileminimizingwasteandbeingopentochange’.

Tosummarise,theleanphilosophy(lean)requirestheorganisationtofocuson:

Continuousimprovement

Increasedproductivity

Improvedquality

Improvedmanagement

LeanMIS–Features

Valueadding

Flexibility

ImprovingtheflowofvaluefromtheMIS

Eliminatingwaste

5Sconcept

Seiri(Structurise,orsort)

Seiton(Systemise,orSimplify)

Seiso(Sanitise,orScan)

Seiketsu(Standardise)

Shitsuke(Self-discipline,Sustain)

Characteristics

Pressuretohitshort-termfinancialtargets

Focusonlongertermperformance

Littleemphasisonfinancialperformance

Lookatnon-financialaspectsinstead

Performance

Short-termfinancialperformanceis

Measuresoflong-term

Non-financialmeasuressuch

measurement

measuredusingROCEorannual

profitabilitymaybeused.

ascustomersatisfaction,

systems

grossprofit

E.g.NPV

employeemoraleorinnovationmaybeused

Advantages

Shouldensureshort-termtargets

Giveflexibilitytogo‘off

Focusoncausesratherthan

aremet

plan’ifjustifiable

effects

Targetsmaybemoremeaningfultostaff

Disadvantages

Short-termism

Resultsmaybedistorted

Stressforemployeesanddifficultworkingrelationships

Lackofflexibility

Stiflesingenuity

Lossofshort-termcontrol

Financialimplicationsofbehaviourmaybeneglected

NFPO的與眾不同

Multipleanddiverseobjectives →Prioritizingobjectives

Non-quantifiablecostsandbenefits&Lackofprofitmeasure →Costbenefitanalysis

Assessingtheuseoffunds&Financialconstrints →VFM

Theimpactofpoliticsonperformancemeasurement

VFM&VFMaudit

Economy–aninputmeasure.Aretheresourcesthecheapestpossibleforthequalitydesired?

Money

Resources–thelabour,materials,timeandsoonconsumed,andtheircost

Effectiveness–anoutputmeasurelookingatwhetherobjectivesarebeingmet.Measurableastheservicesactuallyproduced,andthequalityoftheservices.

Efficiency–herewelinkinputsandoutputs.Impactswhicharetheeffectthattheoutputsofanactivityorprogrammehaveintermsofachievingpolicyobjectives.

Definition

Aleaguetableisachartorlistwhichcomparesoneorganisationwithanotherbyrankingtheminorderofabilityorachievement.

Advantages:

Stimulatescompetitionandtheadoptionofbestpractice

Monitorsandensuresaccountabilityoftheproviders

Performanceistransparent

canbeusedbyconsumerstomakechoices

Betterknowledgeoforganisation’sperformance

Easierdeterminationoffundsprovidedtoorganisations

Disadvantages:

Discouragesharingofresources

Focusonperformancemeasuresratherthanthequalityoftheservice

Costlyandtimeconsuming

Dependsonthequalityofanydata

Cannotmeasurable

Differencesbetweenpublicsectororganisations

Poorrankingmayhaveanegativeimpact

ConflictPIs

Subjectivemeasureswithoutpriority

Costofquality

Sixsigma

TQM

JIT

KaizenCosting

Targetcosting

Costofquality

常見的Qualitycost【Dec2017Q1】：

Preventioncosts:

Traininginqualitycontrol

BuyinghigherqualityrawmaterialsMaintenanceofinspectionequipmentDesignengineering

Processengineering

Appraisalcosts:

Performancetestingoffinalassembly

PerformancetestingofsubcomponentsfromsuppliersInspections

Internalfailure

Costsofre-inspectionafterrepairsarisingfromfinalassemblytestingRework

Externalfailure

RepairsandreplacementsundercustomerwarrantiesCustomerrelationshipmanagement–complainthandlingTransportationcostsperrepairedunit

Sixsigma

Possibility

Fwerthan3.4defectsineveryonemillionunitsproduced

Characteristics

Small,incrementalimprovements

Focusedonthecustomer

Focusonprocess

Linkedtothestrategy

Training,educationandempowerment

Acceptssomefailure

DMAIC

Step1:Definecustomerrequirements/problem

Basic:Minimumthatisacceptable

Satisfiers:Improvethecustomer'sexperience

Delighters:Gobeyondthecustomer'sexpectations

Step2:Measureexistingperformance

Threemeasurementprinciples:

Onlymeasurewhatthecustomerthinksisimportant.

Donotmeasurethingsthatthecustomerissatisfiedwith

Onlymeasurethingsthatcanbeimproved.

Step3:Analysisoftheexistingprocess

Eachelementoftheprocessmaybeassessedintooneofthreecategories.

Valueadding

Necessarysupporttovalue-addingactivities

Nonvalueadding

Step4:Improvetheprocess

Step5:Controltheprocess

TQM&JIT

AimofTQM

Ensurethattherightthingsaredonerightfirsttime.→Preventioncost

Keyprinciplesandcharacteristics

Customerfocus

Identifycausesofdefects

Qualityculture

Zerodefects

Rightfirsttime

Qualitycertificationprogrammes

Costsofpoorquality

Realparticipationbyall

AimofJIT

Just-in-timeisademand-pullsystemoforderingfromsupplierswhichaimstoreduceinventorylevelstozero.

Benefits

Idealstandardforwaste,scrapandrework

Reductionininventorylevels

Easierforafirmtoswitchtobackflushaccounting

Betterqualitycontrol

Assistincostreductionstrategy

Improvedflexibility

Betterrelationshipwithexternalcustomersandsuppliers

Focusonvalueaddedactivities

AimofJIT

Just-in-timeisademand-pullsystemoforderingfromsupplierswhichaimstoreduceinventorylevelstozero.

JITpurchasing

Supplier

Narrowbase;

Closerelationship→Asanextensionofownbusiness;

Qualityclauseincontract(SLA)

Zeromaterialpricevariance(Fixedpurchasingprice,costcontrol)

Frequentandefficientdeliveries

JITproduction(WIP)

Zerodefects

Smallbatchsizes→shortproductionruns,shortset-uptimes

Valuechainmanagement

Empowermenttoemployeeandclearresponsibility

Qualityemphasis

EssentialelementsofJIT

Closerelationshipwithsuppliers

Smallbatchsizes

Cellularmanufacturing(networking,teamwork)

Employeeempowerment

Minimisenon-valueaddedfunctions

Simplification

Disadv

JITpurchasing

Vulnerabletodisruptioninthesupplychain

Difficultiesin:

Choosingsuitablesupplier

Predictingpatternsofdemand

Changingsupplier’soperationandcurrentstrategy

Qualitycontrol

JITproduction

Difficultiesinchangingcurrentproductionmanner

Changesincorporateculture

Others

SupportingbyMIS

Culturechange

Boardcommitments

Changesinperformancemanagementandrewardsystem

Kaizencosting&Targetcosting

Targetcosting

Thetargetcostisanestimateofaproduct’scostwhichisderivedbysubtractingadesiredprofitmarginfromacompetitivemarketprice.

評估TC是否能夠解決或提高公司的財(cái)務(wù)業(yè)績表現(xiàn)（June2017Q2）

EvaluateCurrentpricingsystem(側(cè)重在問題上)

IntroductionofTargetcosting(Definition&Adv)

通過分析Targetcosting的每一步來判斷使用它的優(yōu)缺點(diǎn)，以及如何解決:

Determiningthemarketprice

可從數(shù)據(jù)可比性，數(shù)據(jù)可預(yù)測性入手；

Calculatingthetargetcostusingtherequiredprofitmargin

可從desiredprofitmargin是否合理角度入手；

Estimatingtotalcosts

可從生產(chǎn)成本可預(yù)計(jì)性，數(shù)量可預(yù)測性(Fixedoverhead,directcost)入手；

可從研發(fā)成本，以及處置成本等可預(yù)測性入手 Copyright@Lily.Wang

Reducingthecostgap

產(chǎn)品設(shè)計(jì)層面

生產(chǎn)損耗層面

原材料成本層面

內(nèi)部運(yùn)輸成本層面

常見考察形式：

Inter-relationshipbetweenperspectives

EvaluatecurrentKPIsandmakesuggestions

HowtoimproveperformanceusingBSC

Rewardsystem-Settingtarget

Advantages

Internalandexternal

Long-termandshort-term

Financialandnon-financial

strategicinitiatives

Emphasisingprocessesratherthandepartments

Disadvantages

Conflictingmeasures

Selectingmeasures

Expertise

Interpretations

Managementcommitment

Shiftincorporateculture

Emphasisingprocessesratherthandepartments Copyright@Lily.Wang

Steps

Step1:Strategyisdevelopedtomaximisevalue

Step2:Keyvaluedrivers,performancetargetsaredefined

【Generalprinciples】

Basetargetsonkeyvaluedrivers;

Tailorthetargetstothedifferentlevelswithinanorganisation

Linkshort-termtargetstolong-termtargets

FromstrategictoOperational

Step3:Actionplanorbudget

Step4:Performancemetricsandrewardsystemsarecreated

【Generalprinciples】

Tailorperformancemeasurementtothebusinessunit.

Linkperformancemeasurementtoaunit'sshort-andlong-termtargets.

Combinefinancialandoperatingperformanceinthemeasurement.

Identifyperformancemeasuresthatserveasearlywarningindicators.

EvaluatingVBM

Identifiesvaluenotprofit

Forwardlooking

Aligningagentsandprinciples

Focusonshareholdervalueandfuturecashflows

Needforgoodinformation

Redefineperformancemetrics

Culturalchange

Valuingeverythingbutchangingnothing

Definition

→Levelwithdifferentconcerns

→Supporteachother

→Inordertoachievecorporateobjective

→Asetofperformancemeasurescoveringoutputsanddriversofoutputs

→Operational→Strategic[Measure]

Strengths

Itlinkstheperformancemeasuresatdifferentlevelsoftheorganisation

Itmakesclearthemeasuresthatareofinteresttoexternalparties(suchascustomersatisfaction)andthosethatfocusoninternalfactors(suchaswaste).

Drawbacks

Usevitalmanagementtimeandresource.

Measurescouldconflict

Factorswhicharecrucialtosuccessmaybedifficultorexpensivetomeasure.

Concentratesontwomainofstakeholders:customersandshareholders

Culturechange,andmorepressureonemployees

MIS,Rewardsystems,PMsystem

Evaluatingquantitativemodel

Limitations

Whetheritislikelytofailwithinaspecificyearperiod.

Multipliedbyapre-determinedweightingfactor.

Statisticalanalysisofhistoricpatternsandmaynotberelevant

Thepredictionishighlyprobablebutnotguaranteed

Goodpredictionintheshort-term

Financialinformationeasiertobemanipulated

Onlyg