Performance Measurement Systems

QUARTER 3 20 2 1 Page 1 of 6 FINAL EXAM QUARTER 3 202 1 School of Business EXAM INSTRUCTIONS Read all the information below and follow any instructions carefully before proceeding. Clearly indicate which question /s you are answering. STUDENT SURNAME: STUDENT FIRST NAME: STUDENT ID: UNIT NAME: COMPLIANCE MANAGEMENT UNIT NUMBER: 200776 NUMBER OF QUESTIONS: There are three sections with a total of 6 questions. Each section has 2 questions. You are required to answer 5 questions of your choice VALUE OF QUESTIONS: The total marks for this examination is 100. Each question is worth 20 marks. You are required to answer 5 questions. The marks will be apportioned to equal 40% of your total marks for the unit. ANSWERING QUESTIONS: Answer questions in the textbox provided, under each question/sub - question. The textbox will automatically resize as you type. The size of this textbox is not indicative of the length of your answer. LECTURER/UNIT COORDINATOR: Dr Rama K. Ramanathan (Lecturer) Dr Prem Samaranayake (Unit Coordinator) TIME ALLOWED: 2 hours and 15 Minutes (includes reading time and submitting through vUWS) TOTAL PAGES: 6 (including cover sheet) RESOURCES ALLOWED Only the resources listed below are allowed in this exam. This is an online, open - book exam, submission via Turnitin on vUWS . QUARTER 3 20 2 1 Page 2 of 6 This page intentionally left blank QUARTER 3 20 2 1 Page 3 of 6 PART A : Quality Management (40 marks) Question 1 a) Q uality is free and as a managed process, can be the source of profit (10 marks) The TQM Journal , vol. 25, no. 6, pp. 659 - b) Assume that you are working as a quality management specialist in your company. The Head of your department, a senior manager with consider able experience, has come across the above - mentioned journal article. He asks you to read it and recommend five important ideas from the article, that can be implemented in your company to improve quality. L ist the five ideas that you have chosen. For e ach idea, explain concisely why i t is impor tant from a quality management and quality improvement perspective . Your answer should not exceed one page. (10 marks) Question 2 a) Explain briefly how the process approach outlined by ISO 9000 incorporates the concept of continuous improvement within its framework. ( 10 marks ) QUARTER 3 20 2 1 Page 4 of 6 Part (b) of this question is from the paper, International Journal of Operations & Production Management, vol. 35 no. 1, pp. 145 - 174 b) It is often pointed out that organizations go in for ISO 9000 certification because of requirements from their business customers. However, experienced practitioners have argued that there are also important internal motives for adopting ISO 9000 . Explain the significance of some of the important internal motives that these practitioners are referring to. (1 0 points) PART B : Risk Management (40 marks) Question 3 a) How does ISO 31000 rank preference when dealing with the treatment of risk ? List these in the order of preference. Elaborate upon the practical meaning of any two of these preferences . Use one example for each of the preferences you have chosen to illustrate your answer. (10 points) Part (b) of this question is based on the paper, 53, no. 22, pp. 6868 - 6887 b) Expla in briefly Source Illustrate each risk through the use of a simple example of your choice. (10 marks ) QUARTER 3 20 2 1 Page 5 of 6 Question 4 a) In a corporate setting, what are the commonest reasons why risk management is not effective. (10 points) Part (b) of this question is based on the paper, Supply Chain Management , vol. 13, no. 6, pp.425 - 434. b) In this paper , Limited resources, skills, and knowledge make small company owners feel vulnerable since they do not have the ability to engage in sophisticated risk management practices men Given these constraints explain briefly how small companies tend to mitigate supply/procurement risk. (10 points) PART C : Performance Management (40 marks) Question 5 a) Explain briefly the thinking behind the development of the Performance Prism for measuring organizational performance. (10 marks ) QUARTER 3 20 2 1 Page 6 of 6 International Journal of Productivity and Performance Management , vol. 63 no.2, pp.148 - 169 . b) can influence the internal process perspective of an organisation. (10 marks ) Question 6 a) Exp lain briefly the difference between traditional and modernistic benchmarking. (10 marks ) Part (b) of this question is based on the paper, internal benchmarking initiatives: an empirical Journal, vol. 16, no. 4, pp. 523 - 542. b) implement benchmarking findings? Explain briefly through the use of simple examples . ( 10 marks ) E ND OF EXAM PAPER