Answer To: Implement and monitor environmentally sustainable work practices Q1:List the details of the product...
Bidusha answered on Sep 10 2021
90730/part-1-qihaogvq.docx
Implement and monitor environmentally sustainable work practices
Q1: List the details of the product or service you have chosen to investigate for this assessment task.
Brother MFC-L3745CDW A4 Colour Multifunction Printer
In addition to being able to print in all formats, the Brother MFC-L3745CDW A4 Colour Multifunction Printer also replaces other types of communication equipment such as fax machines, telex machines, etc. With the replacement of many of the existing equipment this saves space and energy, which is beneficial for the environment as well as lowering running costs. On a budget, the printer uses a toner ink.
Q2: When calculating the full cost and savings of your purchase, what should you consider? (List 3 each)
We must consider the following:
· This includes the full cost of the capital asset, including the installation charges.
· Costs of ongoing maintenance and repair
· The cost of modifying a location or existing capital assets.
Q3: What is the ‘payback period’? Explain what it means.
The time it takes for a product's cost of sustainability measures to be compensated by the savings it generates is known as the "payback period".
Q4: Calculate the payback period for the product or service you have investigated.
The payback period for Brother MFC-L3745CDW A4 Colour Multifunction Printer. Is:
Initial Investment
$
Purchase of 5 Brother MFC-L3745CDW A4 Colour Multifunction Printer.
3075.00
Installation and Repair cost
1000.00
Paper
1200.00
Toner
1350.00
Total cost
6625.00
Net Savings
Cost savings on Fax
2000.00
Cost savings on Fax paper
1200.00
Reduced ink and toner
1150.00
Less increased electricity costs
(900.00)
Total Net savings
3450.00
Payback period (6625 / 3450) = 1.9 Years
As a result, after 1.9 years, the firm will begin to generate a profit.
Q5: List two aims of sustainable purchasing or procurement.
The two goals of sustainable buying are as follows:
· To promote innovation in the design and implementation of goods and services in order to obtain more sustainable results.
· Reducing the environmental effect of products and services throughout their lifespan.
Q6: What six steps are recommended in the Sustainable Procurement Guide?
The following six steps are recommended in the Sustainable Procurement Guide:
· Step 1: Determine the needs of the business.
· Step 2: Perform a risk assessment.
· Step 3: Look for and assess other options.
· Step 4: Contract award
· Step 5: Contract management on an ongoing basis
· Step 6: Goods disposal
Q7: List three websites, government departments or other sources you can access for help and information on sustainable purchasing.
The three websites are the following:
1) www.lgnsw.org.au
2) www.environment.gov.au
3) www.ourcommunity.com.au
90730/part-2-fskkdzhx.docx
Manage finances within a budget
· Answer all questions based on the contents and outcomes of the Jackson Hotel operational budget – June quarter.
Q1: List the hotel’s financial commitments under their correct cost category. Name at least two commitments for each category
Variable direct costs: Wages, Goods {food, beverages}
Variable indirect costs: Maintenance, Utilities
Fixed indirect costs: Salaries, rent
Q2: Name the top four cost categories the business has allocated the most funds took in this budget period.
The top four cost categories are:
1) utilities
2) food purchases
3) wages and on-costs
4) beverage purchases.
Q3: Why have significant funds been allocated to these categories?
Discuss their importance to the business and consequences if inadequate funds are allocated.
Funds are allocated in particular areas to market the business and generate items and services for sale, allowing the firm to contribute to revenue and profit generation.
A lack of funding implies losing money and profits and squandering money on unimportant parts while disregarding the key portions that require cash to market the firm and to keep expenses from exceeding revenues, among other things.
Q4: Using the Bistro departmental budget – April.
You are holding a team meeting to discuss the financial targets provided in the organisational and April bistro budgets.
What information do you need to communicate to the team to ensure they understand the targets and goals to be achieved?
· Describe the objectives and answer questions to ensure that everyone understands.
· It is a good idea to talk about why the goals were created.
· It is important that you inform your workers about the items or services that will be marketed, and any applicable external marketing techniques (such as public relations campaigns).
· Talk about ways to save costs, including any cuts or limitations that may exist.
· Assert to your employees the rewards they will receive if they reach their allocated targets.
Q5: What techniques can you use to promote awareness of methods of controlling costs or increasing sales so you can achieve budget targets?
The following techniques can be used:
· Noticeboard: A noticeboard is a great way to keep your workers informed by posting budget copies, information on advertising initiatives, and details on specials.
· Meetings: Attend meetings and explain everything about the goals, finances, and controls in detail.
· Posters: Displaying reminders of cost-saving techniques in crucial locations.
· Wall charts: To help staff track their progress, wall charts can be used to display budget objectives and actual outlet statistics.
Task 2: Calculate variances
· Complete the comparative analysis report for the Bistro departmental budget – April by calculating all missing dollar value and percentage variances.
· Complete the Favourable/Unfavourable column by indicating if the budget results are favourable (F) or unfavourable (UF) for the business.
SITXFIN003 MANAGE FINANCES WITHIN A BUDGET– Case study
6
2016 Edition
April
Favourable /
Unfavourable
May
June quarter
Budget
Actual
Variance
Variance
Budget
Budget
$
$
$
%
$
$
Revenue
Food sales
105,120
119,837
14,716.80
14.0%
FAVOURABLE
114,975
328,500
Beverage sales
89,250
96,390
7,140.00
8.00%
FAVOURABLE
91,875
262,500
Total sales
194,370
216,226
21,857
11.25%
FAVOURABLE
206,850
591,000
Cost of sales
Food purchases
40,953
45,048
4095
-10%
UNFAVOURABLE
42,194
124,100
Beverage purchases
27,563
30,043
2,481
-9.0%
UNFAVOURABLE
26,775
78,750
Total cost of sales
68,516
75,091
6,576
-9.6%
UNFAVOURABLE
68,969
202,850
Gross profit
125,855
141,135
15,280
12.1%
UNFAVOURABLE
137,881
388,150
Expenses
Advertising/Promotions
780
624
156
20.0%
FAVOURABLE
962
2,600
Cleaning contractor
1,490
1,490
-
0.0%
FAVOURABLE
1,490
4,471
Small equipment replacement
333
393
(60)
-18.02%
UNFAVOURABLE
333
1,000
Laundry
245
232
13
5.5%
FAVOURABLE
245.00
735
Maintenance
1,493
1,262
231
15.5%
FAVOURABLE
1,493.33
4,480
Printing & stationery
160
195
(35)
(22.0%)
UNFAVOURABLE
160.00
480
Training & seminars
408
653
(245)
(60.0%)
UNFAVOURABLE
396
1,200
Wages & on-costs
85,901
98,771
(12,870)
-14.98%
UNFAVOURABLE
89,345
260,763
Utilities
3,441
3,235
206
6.0%
FAVOURABLE
3,494
10,589
Total expenses
94,251
106,855
-12,604
13.4%
UNFAVOURABLE
97,919
285,857
NET PROFIT
31,604
34,281
2677
8.47%
FAVOURABLE
40,115
102,293
· Don’t forget to round your figures up or down to the nearest whole number.
Task 3: Question and answer
· Answer all questions based on the budget outcomes in the completed April budget comparative report in Task 2 and case study information.
Q1: Are there any significant variances in the sales figures that you should be concerned about? Explain what the results indicate and why you are/are not concerned about them.
Yes, there are substantial data discrepancies since food sales were projected to reach $119,837, but they only reached $105,120. As a consequence, there is a favourable variance, which is a positive indication.
Q2: Are there significant variances in any of the expenses categories that you think should be investigated further? If yes, discuss which categories and why you think they need investigation. If no, discuss why the deviations do not warrant investigation.
The cost of sales expense category should be investigated further. Because food and beverage revenues account for 10% to 9% of total sales. Investigating these is essential since these are types of direct cost and business, thus any difference between them might result in a direct cost rise. The hotel's rising costs will exacerbate the situation.
Q3: Based on your responses to questions 1 and 2, what is your overall evaluation of the budget results? Is the bistro meeting its financial targets?
The hotel's financial objective has to be improved, as the overall variance in nett profit is 8.4%, which needs to be managed. The costs of training and seminars, printing and stationery, and advertising and promotions are the key categories that must be evaluated.
Q4: Which expense category has the most funds allocated to it? Explain why it is important you manage costs in this category carefully.
The majority of the monies have been allocated to food and beverage purchases, as well as salary and expenditures. It is critical to keep expenditures under control since else, the hotel will suffer a loss.
Q5: Using the results and information obtained from the April comparative report, your answers to the previous questions and the background information.
Write a transcript of the outcomes of your report ready to deliver to the bistro staff at the next team meeting.
The transcript should include the following information.
The current status of the budget; is the work area meeting its budget targets, is it on track to meet June quarter budget targets?
Which areas are underperforming or performing better than expected?
What changes, if any, need to be made to help the team meet next month’s budget targets?
An outline of budget targets for May.
Organisational factors that contributed to the setting of these targets.
Is the work area fulfilling its budget objectives, and is it on schedule to achieve the budget targets for the June quarter?
What regions are failing or outperforming expectations?
What adjustments, if any, are needed to assist the team reach the budget goals for next month?
A summary of the budget goals for the month of May.
Organizational variables that influenced the goal-setting process.
90730/part-3-oihow3d0.docx
SITXMGT001 MONITOR WORK OPERATIONS– Case study
Monitor work operations
Case study
Task 1: Delegate tasks
Q1: Why is delegation an important skill for Olivia to learn?
As a time-management approach, it is a great way for her to manage her workload. It is a good fit with motivation theory. Employees want to be challenged and rewarded for their efforts. She has the ability to assign difficult and rewarding jobs. It is a great tool for succession planning. Other people are being prepared for managerial jobs through delegating. As a result, a trusting environment is fostered. In turn, the employees feel respected and appreciated when she gives them responsibility.
Q2: Why do you think Olivia’s supervisors have been unwilling to take responsibility for decision-making when Olivia is present?
Olivia wants her supervisors to take responsibility and make their own decisions, but she discovers that when Olivia is there, her superiors are uninterested in doing their jobs. It is as though she is giving them a lot of instructions and constantly monitoring their work. As she constantly attends every event to support and assist the event's supervisors in control, as well as to aid them with last-minute crises and details.
Q3: Why do you think Olivia doesn’t delegate? Explain your reasons.
I believe Olivia works hard, but she does not delegate some of the job since she works 70 hours a week, is constantly fatigued, and has a limited social life due to the numerous events that occur. She is pleased of herself for believing that if she works hard and long enough, she can help the company meet its growth goals.
Answer questions 4 to 6 based on Olivia’s responsibilities and tasks she performs listed in the case study information.
Q4: What tasks are not suitable for Olivia to delegate?
The following tasks are not suitable for Olivia to delegate:
· Monitors the shift's employees and guarantees that all SOPs and quality assurance
· guidelines are followed.
· Updates the company's standard operating procedures.
· In collaboration with the events director, conducts staff evaluations.
· After an event, checks the time cards of the employees.
Q5: Which of Olivia’s tasks could be completed by others in the management team when she’s...