Analyse information and knowledge
Assessment Task Assessment Task 2BSBINM601 Manage information and knowledge Analyse information and knowledge Submission details Candidate’s name Phone no. Assessor’s name Phone no. Assessment site Assessment date/s Time/s The assessment task is due on the date specified by your assessor. Any variations to this arrangement must be approved in writing by your assessor. Submit this document with any required evidence attached. See specifications below for details. Performance objective You will demonstrate the skills and knowledge required to analyse information and knowledge on business issues or problems to aid decision-making. Assessment description Using the simulated business information provided in this task, and in response to a scenario, you will identify patterns or emerging trends, determine the causes and determine their potential effect on the business by using statistical analysis techniques. You will document evaluation processes and adjust management information or decision support systems if necessary to meet information processing objectives. Procedure 1. Read the scenario information provided under CoffeeVille – your brief in Appendix 1. 2. If necessary, review CoffeeVille’s general business information provided in Appendix 1 of Assessment 1 to maintain your understanding of the business and its environment. 3. Review and evaluate business performance data and information in Appendix 2. 4. Review and analyse research data and information in Appendix 3. 5. Respond to Question 1 in Appendix 5 by developing SMART objectives for the analysis processes you plan to undertake to identify causes for the business’s declining sales. Make sure they are consistent with the decision required. 6. Based on the information provided in this assessment and Assessment Task 1, identify and interpret trends and patterns and their causes and effects relevant to the identified business problem. You can use computer software or manual techniques to complete trend and correlation statistical analysis calculations. · You can complete as many trend and correlation calculations as desired to assist in the identification of trends and patterns and their causes or effects. · You must complete a minimum of two trend and two correlation calculations for this assessment. · The results of at least two trend and two correlation calculations must be converted to graphs for visual identification and evaluation of trends or patterns and their causes or effects. 7. Document analysis processes undertaken so far by completing Parts 1 and 2 of the Decision Analysis Report in Appendix 4. Note that additional information will be added to this report in Assessment Task 3. Make sure you use writing styles and conventions appropriate for a management report, including level of formality selected, terminology used and depth of complexity in information provided. 8. Answer the remaining assessment questions in Appendix 5. Specifications You must submit: completed Parts 1 and 2 of the Decision Analysis Report copies of the results gained from at least two trend and two correlation statistical analysis techniques used to assist trend and pattern identification – please attach to the Decision Analysis Report copies of line or scatter graphs developed from the results of at least two trend and two correlation statistical analysis techniques – please attach to the Decision Analysis Report your responses to the questions in Appendix 5. Your assessor will be looking for your ability to: organise, evaluate and critique ideas and information build and maintain understanding of a problem of issue develop and write complex texts using appropriate conventions and writing styles use numeracy skills to interpret complex statistical and researched information gather and analyse data and seek feedback to improve organisational plans and processes use digital technologies effectively to manage business operations for strategic and operational purposes plan and manage activities that have implications for the whole organisation make high impact decisions – analyse input from a range of sources and, where appropriate, drawing on experience. Adjustment for distance-based learners No variation of the task is required. A follow-up interview may be required (at the discretion of the assessor). Documentation can be submitted electronically or uploaded to an LMS for review. Appendix 1 CoffeeVille – your brief Rufus and Emma Belcastran, CoffeeVille’s owners, have approached you for assistance. The business has been profitable and steadily expanding for the last 4 years but recently, expenses have started to climb and sales drop. In the last 3 months they have started to address the issue of rising expenses. In the last 3 months they have started to address the issue of rising expenses by evaluating and updating procedures and work practices in an effort to reduce costs. So far, their efforts have not had a significant impact on expenditure and their sales revenue continues to be below budget forecasts. It’s January 2016 and all four stores are closed for a summer break. Emma and Rufus are using the down time to assess their business’s operational and financial status in preparation for the year ahead. They have asked you to help them analyse their business and the external environment to identify potential reasons for their declining sales. Now that the business issue or problem has been identified, they want you to analyse data and information to determine the potential causes of the issue. You plan to use data and information identified in Assessment 1 and in the Appendices of Assessments 1 and 2, as well as conduct research into potential external environmental factors. You believe using statistical and sensitivity analysis techniques will enable you to identify relationships between data, clarifying potential causes of the business issue. Appendix 2 Coffeeville business data and information Business performance General trends Sales for first 6 months of 2015 are down across all categories and stores. Overall, food sales are down 10%, beverages 12% and catering 17%. When combined with rising expenses, profits are down for the first half of the financial year by 19% After opening a year ago, the 4th store is slowly building customers but is still not performing to forecasted levels. Most of the marketing budget and Emma’s efforts have been focussed there. Productivity has increased with staff able to serve more customers per hour per person. Barista coffee preparation speeds have increased after all barista staff completed an advanced barista course in Jan 2015. Savings made in payroll and cost of goods due to productivity gains has been offset by rising wages and food prices. Payroll expenses Year Payroll expenses as % of total expenses 2009 34.9% 2010 35.3% 2011 34.2% 2013 39.8% 2014 42.1% 2015 45.3% Assessment Task 2BSBINM601 Manage information and knowledge © 2016 Innovation and Business Industry Skills Council Ltd1st edition version: 1 Page 2 of 6 Financial information – Organisation Financial year July 2014–June 2015 July–December 2014 Sales $ July Aug Sept Oct Nov Dec Food sales 285,668 279,805 273,942 262,580 250,078 199,251 Beverage sales 191,199 190,163 189,126 187,054 182,650 179,523 External catering 82,360 83,540 81,980 81,480 77,500 74,370 Total income 559,227 553,508 545,048 531,114 510,228 453,144 Total expenses 482,190 470,934 483,431 451,683 461,746 404,986 Net profit/loss 77,037 82,574 61,617 79,431 48,482 48,158 Jan–July 2015 Sales $ Jan Feb Mar April May June Year Total Food sales 203,894 221,209 238,525 245,476 259,742 262,803 2,982,972 Beverage sales 181,220 185,263 187,263 188,263 189,560 191,208 2,242,492 External catering 57,284 60,926 67,853 68,853 51,853 49,137 837,136 Total income 442,398 467,398 493,641 502,592 501,155 503,148 6,062,600 Total expenses 413,064 421,865 442,733 447,512 464,198 478,630 5,422,972 Net profit/loss 29,334 45,533 50,908 55,080 36,957 24,518 639,628 Financial year July 2015–June 2016 July–December 2015 (actual results) Sales $ July Aug Sept Oct Nov Dec Food sales 231,391 226,642 231,865 227,105 202,563 154,300 Beverage sales 148,065 147,262 153,192 158,323 135,088 129,705 External catering 60,207 60,358 56,476 55,457 52,111 47,597 Total income 439,663 434,262 441,533 440,885 389,762 331,602 Total expenses 373,713 364,780 366,472 374,752 339,093 288,494 Net profit/loss 65,950 69,482 75,061 66,133 50,669 43,108 Jan–July 2016 (adjusted forecast) Sales $ Jan Feb Mar April May June Year Total Food sales 177,388 201,300 224,214 208,655 233,768 233,632 2,552,823 Beverage sales 152,225 163,031 161,046 167,554 170,604 170,175 1,856,270 External catering 46,973 51,178 56,318 57,148 42,779 40,292 626,894 Total income 376,586 415,509 441,578 433,357 447,151 444,099 5,035,987 Total expenses 351,615 375,031 396,039 385,864 414,176 422,459 4,452,488 Net profit/loss 24,971 40,478 45,539 47,493 32,975 21,640 583,499 Budget variance report – All stores Summary of variance results for comparisons of budget to actual income for the period 2011 - 2015 A positive variance indicates the percentage above budget, a negative figures indicates the percentage below budget. Financial year 2011-12 2012-13 2013-14 2014-15 2015-16 Jul-Dec 2011 Jan-Jun 2012 Jul-Dec 2012 Jan-Jun 2013 Jul-Dec 2013 Jan-Jun 2014 Jul-Dec 2014 Jan-Jun 2015 Jul-Dec 2015 Food sales 5% 8% 7% 12% 8% 1% -3% -8% -10% Beverage sales 8% 2% 4% 5% 5% -2% -4% -5% -12% External catering 12% 4% 7% 2% 5% 2% -8% -11% -17% Total income 8% 5% 6% 6% 6% 1% -5% -9% -12% Net profit/loss 7% 4% -1% 6% 6% -4% -5% -11% -13% Financial history by income source *Note: Store 3 opened July 2014, Store 4 July 2014 Food Sales July Aug Sept Oct Nov Dec Jan Feb Mar April May June Total 2013-14 224,580 212,965 208,695 210,589 209,568 189,655 175,250 186,752 198,765 209,632 218,655 225,892 2,470,998 2014-15 357,580 362,937 365,600 355,290 347,868 337,438 301,056 301,475 323,324 307,358 282,052 289,080 3,931,058 2015-16 257,101 251,825 252,027 244,199 225,070 175,341 177,388 201,300 224,214 208,655 233,768 233,632 2,684,519 Beverage Sales July Aug Sept Oct Nov Dec Jan Feb Mar April May June Total 2013-14