MBE7022 - Finance, Workforce, Planning and Procurement

Objectives:

On successful completion of the module, students will be able to:
Critically explore different approaches to strategic workforce planning and evaluate how workforce planning and design can influence the effectiveness of operational and organisational performance.
Critically examine organisational resilience and how organisations can adapt in times of crisis.
Critically discuss strategic financial management and its relevance to procurement process and operations management.
Critically analyse organisational strategies of equality and diversity, inclusion and employee well-being.
Provide recommendations for improvements to strategic planning in the areas of workforce planning; strategic finance; organisational resilience; equality and diversity and inclusion in your workplace using relevant theoretical theories, models and concepts to underpins your practical examples.
Critically evaluate and select techniques for operations and supply chain improvement and failure prevention, securing corporate social responsibility and sustainability.

Content:

Within this module, apprentices will analyse approaches to workforce planning and evaluate their effectiveness in developing a diverse, inclusive, resilient and valued workforce that optimises Employees’ skills to the benefit of the organisation. Apprentices will review different procurement strategies; supply chain management and contract management.

In order to gain a broad understanding of workforce planning, apprentices will review literature in the area of strategic human resource management. In order to gain an insight into procurement and supply chain management, apprentices will review literature in the areas of operations management and accounting. The modules have been developed in line with the United Nations Sustainable Development Goals. In particular goal 4 (ensure inclusive and equitable quality education and promote lifelong learning opportunities for all) and goal 9 (build resilient infrastructure, promote inclusive and sustainable industrialization and foster innovation).

Workforce planning
Workforce planning is a core business process which aligns changing organisation needs with people strategy. It can be the most effective activity an organisation can engage in. It doesn’t need to be complicated and can be adjusted to suit the size and maturity of any organisation. It can provide market and industry intelligence to help organisations focus on a range of challenges and issues and prepare for initiatives to support longer term business goals. Topics covered may include, organisational design and development; succession planning; work-life balance initiatives such as flexible working and well-being; recruitment and selection; retention planning; talent management; job design; career planning. Workforce planning should be linked to the organisation’s goals and be part of the strategic business planning process. It offers an important opportunity for senior leaders to engage with and set the agenda for workforce change.

Tools for financial decision making.
Financial Accounting is concerned with the ways in which the financial transactions of a business are recorded and summarised in financial statements. This module provides an introduction to the construction of financial statements and an understanding and evaluation of the principles and concepts on which they are underpinned. Once the principles have been established, the module further develops the practical understanding of the preparation of financial statements and focuses on the preparation, interpretation and limitations of company financial statements and the regulatory framework in which they are prepared. Apprentices will also learn the basic techniques of management accounting.

Apprentices will be introduced to the role of strategic financial objectives for an organisation, and measurement of current and forecast performance, variations in economic and business factors, and alternative financial strategies. They will also review concepts such as long and short term financing for organisations, risk factors and stakeholder requirements, as well as appreciate the importance of non-financial requirements relating to national and overseas procurement, supply chain management and contracts. They will evaluate strategic financial objectives, and their interdependence with, and possible constraints on, corporate strategies.

The module aims to enable the apprentices to use the principles, techniques within the financial, and management accounting fields and to develop students’ financial problem-solving skills in respect of both financial and management accounting issues, and to develop the ability to critically appraise accounting solutions to real world problems. Emphasis will be on developing cognitive skills via the critical analysis, interpretation and evaluation of strategic financial information produced within the organisation.

Operations and Supply Chain Management
Operations and supply chain management is a field of study and business activity that plays an important role in securing long-term profitability, performance excellence and competitive advantage. The module incorporates studies of operations management and strategy, which allow managers to direct, design and manage product and services delivery, establish effective and efficient processes and supply and distribution networks, incorporating resources, information/technology and people perspectives and also quality assurance/control and continuous improvement.
Organisational resilience.
Organizational Resilience is the ability of an organisation to anticipate, prepare for, respond and adapt to incremental change and sudden disruptions in order to survive and prosper. Apprentices will review this topic in relation to workforce planning and procurement.

The knowledge, skills and behaviours assessed by the Senior Leader Apprenticeship for this module are:
K11 Approaches to strategic workforce planning, for example, talent management, learning organisations, group work, workforce design, succession planning, diversity and inclusion.
S9 Drive a culture of resilience and support development of new enterprise and opportunities.
S10 Oversee development and monitoring of financial strategies and setting of organisational budgets based on Key Performance Indicators (KPIs), and challenge financial assumptions underpinning strategies.
S12 Oversee procurement, supply chain management and contracts.
S14 Create an inclusive culture, encouraging diversity and difference and promoting well-being.
B4 Value difference and champion diversity.

Learning and Teaching Information:

The sessions will be organised in 3 8-hour teaching blocks. Lectures will deliver core theoretical frameworks, followed by tutorials and personal exercises for reflection and development. Tutorials will be designed to support learners to be self-directed in additional research and with particular emphasis on research within their own employing organisation.

The module will present apprentices with selected scenarios for basic analysis in order to develop both analytical competence and the ability to identify and apply appropriate techniques in a range of typical situations.

The module will make use of case studies and developing business trends and so the nature of the topics and exercises will vary. Learners will be provided with, and/or directed to, relevant reading and additional questions/ exercises to support their progress through the module material.

Lectures
Hours: 24
Intended Group Size: Cohort

Workshops and seminars
Hours: 16
Intended Group Size: 25-30

Guided independent study
Hours: 160

Further details relating to assessment
Students will be offered formative feedback throughout the module in order to help them to achieve successful coverage of the apprenticeship standard’s KSBs in conjunction with the modules aims and outcomes. This will be done via formal sessions and also via online interactions on the Moodle platform and the use of tools such as email and Microsoft Teams.

Assessment:

Fact File

Module Coordinator - Carl Hartford
Level - 7
Credit Value - 20
Pre-Requisites - NONE
Semester(s) Offered - 7AP7AP7AP7AP

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