FINANCE AND CONTROL IN HOSPITALITY | My Assignment Tutor

1Centre for Contemporary Hospitality and TourismFINANCE AND CONTROLIN HOSPITALITYOPERATIONSASSESSMENT BRIEF SPRING 2021Module Leader: Ewen CrilleyEmail: E.Crilley@derby.ac.ukTelephone: 01332 3305612ASSESSMENT BRIEFComponent 2: EXAMSummary of Assessment Method: An individual examination, to assess students’ ability to applyquantitative methods in relation to food, beverage and event operations, and interpret andevaluate the results.The exam with consist of a number of multiple choice and short answer questions. Thesequestions will carry individual marks and these marks will be added and divided by the total togive you a percentage grade.Component 1: COURSEWORKAssessment Method: In teams of two or three students will analyse opening and closinginventory checks and evaluate the results and submit a written report (max 1500 words)commenting on their findings.Each team consisted of 2/3 students will choose a hospitality related establishment as a casestudy in order to evaluate an opening and closing inventory check on a specific category ofavailable products/ingredients on sale (e.g., drinks, food ingredients, etc.) over the period of onemonth.For example, students focusing on a restaurant could analyse an inventory of bar stock andconsider sales, covers, marketing offers, wastage, control process, selling strategy implemented(e.g., upselling), among other options, and evaluate their findings.The critical analysis of the findings will also include suggestions for improvement usingprofessional terminology, consideration of relevant theories/topics (e.g., yield management, parlevels), and contemporary literature/professional reports/industry examples.Accordingly, your report should:a) offer a detailed presentation of the inventory findings (e.g., create tables with findings),b) reflect on sales, control processes, wastage, popularity of the selectedproducts/items/ingredients,c) reflect on marketing offers, pricing strategy, supplier choices/limitations,d) evaluate all aforementioned elements in order to offer well-justified suggestions to themanagement team of the selected establishment based on findings from each enquiry. Pleaseuse literature and/or professional reports/industry standards to support your statements.Indicative report structure:• Course identification page (unit title, code), title of assignment, students’ mumbersand module leader name.• Table of Contents and Figures with relevant page numbers.3• Introduction –Introduce the topic and inform the reader. Identify the topic, offerdefinitions (e.g., inventory, yield), and narrow to the specific topic underinvestigation. Also, identify the complications (problems) or significance of theenquiry (e.g., inventory). Finally, direct the reader toward the following sections.• Main body: Classify the major issues of the study and analyse them (e.g.,inventory control process, purchasing systems/processes). Present the findingsand analyse them following consideration of related issues (e.g., sales, marketingoffers, etc.). Provide well-reasoned statements at the beginning of the paragraphand then supply evidence for further analysis. It is crucial to make comparisonsand provide justification for your arguments.• A conclusion needs to summarise the findings, concerning the themesinvestigated, as well the importance of any recommendations, along with otherpossible inclusions.• A full reference list (at a minimum 10) in alphabetical order of all sources usedmust be included at the end of the work, including journal articles, books, andonline sources such as industry/government websites.4MARKING GUIDANCE AND GRADING INDICATORS AssessmentCriterion/LearningOutcomesWeight/ValueFirst Class(70-100%)Upper Second(60-69%)Lower Second(50-59%)Third Class(40-49%)Fail(0-39%)CriterionGrade (%)Grade ×WeightDemonstrate knowledgeof key financial conceptsand inventorymanagementKnowledge20%Excellent knowledgeand understandingof key financialconcepts andevidence ofextensive widerreading some ofwhich is fromprimary sources.Demonstrates effectivecoherence of ideas and agood knowledge andunderstanding of keyfinancial concepts. A degreeof evidence of extensivewider reading.Ideas are presented in acoherent manner but aredescriptive in nature.Some evidence of widerreading but key financialconcepts have not beendiscussed in enoughdetail.Demonstrates somecoherence of ideas andsome knowledge andunderstanding of keyfinancial concepts. There isa little evidence of widerreadingDemonstrates limited coherenceof ideas, little knowledge andunderstanding of key financialconcepts. There is inadequateevidence of wider readingAnalyse the recentinventory report of yourchosen case study withappreciation of financialtheory.Criticality20%There is an excellentappreciation andapplication ofrelevant financialtheory andinventory control.There is an in-depthlevel of criticalanalysis regardingthe performance ofthe case study.There is an appreciation andapplication of relevantfinancial management.There is evidence of criticalanalysis of the financialperformance of the casestudy.There is appreciation andapplication of relevantfinancial theory. Evidenceof supported analysis ofthe inventory checks andreports of the case study.There is some appreciationand application of relevantfinancial management andevidence of analysis of thefinancial performance ofthe case study. Youranalysis is mostlyunsupported.There is very limited, or no,appreciation of relevant financialtheory. No evidence of analysis orrecognition of the financialperformance of the case study.Analyse businessperformance by theapplication of ratios andthe concept of marginalcosting.Application20%There is an in-depthlevel of applicationand understandingof key financialratios and marginalcostings. Detaileddiscussions ofimprovement ofstock managementThere is a depth of evidenceof application andunderstanding of keyfinancial ratios and marginalcosting. Stock result analysisis discussions withrecommendationsSome evidence ofapplication andunderstanding of keyfinancial ratios andmarginal costing, stockresult are evaluationalbeit to a basic level.Although you have appliedthe appropriate ratios andacknowledged marginalcosting, you have shownlittle understanding.No evidence of application orunderstanding of key financialratios or marginal costing.Critically evaluateinventory stock reportand offerrecommendations andbest practice with soundarguments.20%A clear and criticalevaluation of thestock report andreflection of bestpractice usingliterature andpractices. Able toHigh level of criticalevaluation of stock reportand industry practices.Some clear synergiesbetween theory andpractice.A reasonable attempt tocritically evaluate thestock analysis with offerof basicrecommendations.There is little evidence ofevidence of criticalevaluation, limited offer ofrecommendations andbest practice.There is no evidence of criticalevaluation of the inventory casestudy. 5 Evaluationsynergise coherentlybetween theory topracticeWork is presented in aclear and coherentmanner, includingaccurate referencingCommunication20%The work iscommunicated witha high degree ofauthority andreferencing isgenerally accurate.Excellent grammar.The work is communicatedwell and referencing ismostly accurate. Fewgrammatical errors.The work communicatesoverall, but with someerrors. Some referencingis accurate. Somegrammatical errors exist.The work communicatesoverall, but with someerrors. Some referencingis accurate, grammaticalerrors exist.The work is communicated poorlywith a number ofmisunderstandings. Thereferencing contains unacceptableerrors. A poorly presented pieceof work. In adequate referencing.TOTAL GRADE% 6HAND IN DATESCW1 Submission date: Friday 30th April 2021by 23.59hrsEX1 Exam date TBC (between 10th and 19th May 2021)RETURN OF MARKED WORKCW1: Friday 21st May 2021 at 12.00pm (noon)EX1: Friday 28th May 2021 at 12.00pm (noon)Marked work and provisional grades will normally be provided within 15 working days.Feedback will be made available at the submission point.If you do not meet the required pass mark of 40% overall, you will be offered a referralopportunity on the coursework. The referral work must be submitted by TBCRemember if the component failed is a presentation or exam you will be expected to attendUniversity for the referral, it is important to take this into account when planning holidays andwork placements as an absence will result in a non-submission. Non submission for both the firstattempt and the referral opportunity of the assessments will result in you not progressing to thenext level of your studies.You are advised to contact your module leader immediately to discuss the outline and format ofthe work you need to submit.Further information on referrals can be found under section F athttps://www.derby.ac.uk/about/organisation/academic-regulations/EXCEPTIONAL EXTENUATING CIRCUMSTANCESIf serious circumstances beyond a student’s control affect their ability to complete anassessment, they may submit a claim for Exceptional Extenuating Circumstances (EEC). Thismust be accompanied by evidence from a competent professional with knowledge of thecircumstances, and all work done to date, by the original assessment submission deadline. Suchapplications will be considered by an EEC panel.REVIEW OF DRAFT WORKAssessment provision on your degree is a balance between supporting you to achieve a successfuloutcome, coupled with developing personal skills such as self-confidence, self-reliance, takingownership of your work, discursive ability and clarity of ideas. The University of Derby is continuingto lead a shift away from the perception of being in Higher Education to simply ‘pass assignmentsand tests’, focusing more on your subject area and engaging content for developing yourknowledge within your chosen industry.7It is for these reasons that the Centre for Contemporary Hospitality and Tourism has a policy(unless stated in an individual support plan) of not reading draft assignment work prior tosubmission. We believe that this policy will provide a fair level of expectation for everyone toengage in assessment. There is also a question as to whether a module leader can read andannotate all draft work with larger module groups… Put simply, we believe that if it cannot beprovided for all students equally, then it should not be promised.Instead, each module provides you with an opportunity to submit a ‘one-page synopsis’ for allmodule summative assessment at level 4, 5 and 6. Your module leader will give / negotiate anappropriate time and date outside the module learning hours where you can submit and discussyour planned rationale for your coursework.Please note that, as the formative synopsis will be based around your final summative submission,submitting a draft 1 page may allow your work to be identified at the point of marking. Whilst thisin no way impacts upon the grade or marking process, it may impact upon the anonymity of thesubmission.

QUALITY: 100% ORIGINAL PAPER – NO PLAGIARISM – CUSTOM PAPER

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