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for Q3 i thought that the Mission statement should included something like how they would strive to be the leader for the qualification etc… and then just stated that they needed to included some positive stuff about their Values, Culture and Ethics and that it was missing from Mr Turveys attempt at improving the old MS… then added blabla about the MS being a branding tool if customers believed the MS and that good for employees if they believed the Values etc… all stuff from opentuition slides 🙂 haha…
the part for CSF, was relatively simple… 35 CSF was way to much, should only have one or so… this is where i got confused cos i thought that they might provide the courses for the exams then later realised that its like ACCA, they do the exam admin and regulator side of things but not the courses themselves.. just was strange to have a competitor doing it… so i went back and added that one of main CSFs should be member and student retention etc…and student passmarks.. i think that i didnt do so well on this one, but will get marks for correct defintion of CSF 🙂 similar with KPI part, the ones listed wer not really KPIs internal but instead for overall business performance..
the IR part i put some definitions about the concise communication bit (which is also on the P2 and P2 notes) and then just tried to lamely tie it in with the company..
however, by that stage i was pretty confident that i had already passed..
i just hope that my confidence does not prove to be overwhelming cockiness 🙁TGee, that’s sounds reasonable.
I think you got mendelow justification right, I was slightly different to you but justified different stance on CEO and regulator.
Also theory on stakeholders hoped to grab 3 out of 4 marks going for that.
Q4. ABC costing and variances was a nice question, hoping to get 16-18 out of 25 here, flexing the budget showed the sales performance to be poor, materials and labour variances favourable and a problem with fixed costs budgeting. I mentioned there may have been a step cost that wasn’t budgeted for originally because activity had been higher than previously budgeted. That brought on to section b which was ABC costing and if it was suitable to co. Really nice question, if you knew F5, which for some reason I surprisingly could.
I agree with all the above.
I answered Q1a) i and ii together.
I hope my anwer layout is correct.
I did Q2 and 3 in one hour.No time to think, no time to compose layout and no time to answer without panic.
It started from Q1. Took 30mins to understand the question.I also didn’t think it was as bad at junes, this was my third attempt, so I really hope I have done enough to pass this time.
For part 1c I think I got the wrong end of the stick though at the time when it said how would the stakeholders be managed I went onto talk about the different management ways like collaboration and participation for the staff to involve them to increase morale. Oh well only 6 marks. Could kick myself now.
tallaghthoop,
yeah.. forgot where that stakeholder management Need and Objective part question was nestled in the exam..
but put the usual.. Need is from potential stkholder conflicts due to varying views and needs, possibly causing detriment to achieving org objectives; and Objective of stkholder management is to keep shareholders happy with org strategy while stakeholders are ok with following it… etcetc… (no ‘etcetc’ on the exam though 🙂 )
needs and objectives for stakeholders is similar to previous P1 question on it, spoke about communications and objectives for different stake holders because they could prevent, disrupt or cause reputational damage and ethical issues to consider, also outlined the mend matrix in this section about power and interest to try and nail mark or two
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Q1 was too long, took me 30 minutes to read and really understand the case. heart attack!!
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Very right. Not fair on us
Well, compared to the June exam, it was relatively easier and very time manageable .
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Mmmmm….. Q1 too bulky for me I had left it for last. I ended up writing only half of it. I enjoyed Qs 2 and 3. Plizzzz. 50% I desperately need u…
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I think it was the 6 I’s for that part also. That makes the two of us
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TGee… I thought the objective for q1b was to show that outsourcing was a good idea for the council even before taking into the cost of the upgrade?
I calculated the council revenue at the moment the same as you, I think.
But if it was outsourced, the only revenue the council would see is 10% of the operating profit from GreenmDream. So you had to work out their annual P&L from the information given.
Revenue for GreenDream would come from the $35 charged to each household (35k x 80% that had gardens x 50% that would actually pay the fee), and then they would also receive $30 per tonne for selling to the horticultural industry.
This revenue, less all costs came to about $710k or something.
The council would receive 10% of this, so $71k… Which is higher than the $50k profit they are already earning… So it makes sense to outsource, even before the $1.5m upgrade is taken into account.
Am I right?
I think we all came to the same conclusion for the council’s profit before outsoucing but were we told that Green Dream would continue to sell to the horticulture trade or did we have to asume that? I didn’t. Were we told anything about Green Dreams costs? I only skimmed through the question very briefly, too much of it.
Also what did you guys think about the 60% probability of new government who would provide funding, but again not told what this funding might be.
hmm.. haha.. i have no idea right now.. i read it as; a part of the council members that were opposed to the Outsourcing wanted you to do a financial evaluation for them.. so i interpreted it as asking to give a No Outsourcing answer..
but, i may have been structurally wrong..
however, there is also an added cost to the council for cleaning up the other households who would end up dumping their garden waste which would then need to be cleaned up at the councils cost; on top of redundancies etc..so who knows.. i guess we will soon find out what it really was..
joce.. i thought it effectively covered most or many of the 6 Is but if you look at the opentuition P3 slides pack on page 40 (slide120), under CRM you see that 2 or 3 of them are covered but the CRM theme lies around the relationship with the customer
so i would have thought that talking about 6 Is would get most of the marks but that itd have to be tied into the context well..
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Darren01:
I made the assumption that GreenDream would continue to sell.
In the last paragraph, the letter from the council members said about what the costs would be after the upgrade, and specifically said “these costs are assumed to have been used by GreenDream in their calculations”, so I used those.
Thanks Punkin. The information was all over the place, too many if buts and maybes in there for me. Oh well. Good luck all!
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This is just what I remember Darren, I could well be wrong!
I agree though that it was harsh, there were small bits of information all over the place!
in my view part b) was set out really bad, numbers where everywhere it wasn’t clear what and who was doing what, I had council at 50k profit and then 70k profit on the current situation, it did not give greendream costs and the contract said 10% of profit, the financial case for me I sat on the fence and said it was not over whelming because 1) 10% to council was based on profits not revenue, 2) the 50% take up may not be accurate since its free service at the moment, 3) additional financial costs for increased fly-tipping which wasn’t considered.
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TGee… I tried as much as possible.to relate the 6 Is, to the context.. thou I did not include all.the 6 in my ans…. independence I said customer can make orders frm anywhere, interactivity -customer can go back & forth putting items in shopping cart until satisfied, integration…..these are the 3 i included..hey exam pressure is something else. I can’t wait for the results I wish they were coming out this week…so that incase its not in.my favour I start studying for dec exam. Iam desparately waiting… with.my fingers crossed
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Hey guys… I remember in one of the video lectures the tutor said .. there iso no one correct answer in p3… therefore its how we argue it don’t u think? So lets keep calm and wait….
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can anyone tell exactly what topics were tested in the paper? plz
joce.. youre right..
i have a feeling that for the Outsourcing question, that if you argued either way, but your arguments were backed by ample work, that then one might get most marks…
i read that one of the misgivings in previous P3 exams was that people didnt really push their point across hard enuff, so perhaps thise question was designed in such a way to give the possibility for arguing both sides..there was the cost side for the actual public though, and thats y i stuck with the No Outsource… the public could pay about 5bucks to the council annually for 7 years, after which full payback would be achieved with council upgrade, yet with only 50% based on survey paying 35bucks annually to GreenDream like forever plus the redundancies and cleanup of illegal dumpings, i found that a more precise or easier argument could be made for the No cause… however it depends on how the examiner envisaged the question… not up to us at all 🙂
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TGee, sorry but I am not so sure that I agree.
If I remember correctly, the question said to “evaluate the financial case…”, which suggests that listing non-financial arguments for/against won’t score any marks.
Also, I’m sure that the question specifically said “… with reference to the statement that the process should be outsourced even before taking the cost of the upgrade into account”
This is how I remember it, I may be wrong, in which case I will hold my hands up…
When does the paper come out?
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