Service Industries – NBC Institute

CSME – Nov 2019 – L2 – Q1 – Strategic Implementation

Discusses Fitzgerald and Moon’s building block model and applies it to Premier Insurance Plc.’s strategic performance evaluation, recommending new strategies based on the model.

Question

Premier Insurance Plc. (PIP) was incorporated in 2000. It commenced insurance business in 2001. 49% of the company’s equity was held by its foreign technical partners, with the remaining 51% held by Nigerians. The company’s technical agreement required that the technical partners produce the Managing Director while the Nigerian shareholders provide the Chairman and Deputy Managing Director. As a result of this arrangement, Mr. R. Stalwart emerged as Managing Director, Chief E. Acquah as Chairman, and Mr. D. Dede as Deputy Managing Director.

Business Outlook
The company’s premium and investment incomes were rising steadily until 2010. The company’s profits were further buoyed by rental income realized from its heavy investment in real estate. The company also enjoyed significant government patronage due to the strong connection of its chairman, who was a leader of the ruling party.

However, in 2010, the global economic crisis impacted the Nigerian economy, leading the technical partners to reduce their investment from 49% to 10%. This caused Mr. Stalwart to resign as Managing Director. Simultaneously, the loss of government support led to a dramatic drop in income from government and multinational business accounts. These factors, coupled with a slump in the real estate market, led to a significant decline in profits.

Re-organisation
Following the resignation of Mr. Stalwart, the new investors demanded a re-organisation of the company. Mr. Dede was appointed as the new Managing Director with the mandate to evaluate the company’s strategic performance and develop a strategy to improve its market performance.

Required:
(a) Discuss Fitzgerald and Moon’s building block model for analyzing performance management systems in service industries. (12 Marks)

(b) Apply the Fitzgerald and Moon building block model to evaluate the strategic performance of Premier Insurance Plc. (20 Marks)

(c) Summarize the outcome of the evaluation of the performance management system of Premier Insurance Plc. and recommend elements of a new strategy for the company based on the Fitzgerald and Moon building block model. (8 Marks)

Answer

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Tags: Performance Management, Performance metrics, Service Industries, Strategic Reorganization
Level: Level 2

Topic: Strategy implementation
Series: NOV 2019

SCS – March 2023 – L3 – Q5 – Strategy implementation

Uses Fitzgerald and Moon’s performance measurement dimensions to link LCH’s performance assessment to corporate strategy.

Question

Fitzgerald and Moon (1996) provided a framework for analysing performance management systems in service industries like a hospital. They suggested that a performance management system in a service organisation can be analysed as a combination of three building blocks, namely:
i) Dimensions
ii) Standards
iii) Rewards.

Required:
Using Dimensions as a tool for performance measurement, discuss how LCH could link performance assessment to corporate strategy.
(10 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Corporate Strategy, Healthcare, Performance Dimensions, Performance Management, Service Industries
Level: Level 3

Topic: Strategy implementation
Series: MAR 2023

MI – Nov 2022 – L1 – SB – Q1a – Costing Methods

Listing of service industries and corresponding units of cost

Question

Service costing is used in service industries or service departments of a company.
List in a tabular form FIVE examples of service industries and the “unit of cost” that can be used in each industry.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Cost Units, Service Costing, Service Industries
Level: Level 1

Topic: Costing Methods
Series: NOV 2022

MI – Nov 2022 – L1 – SA – Q1 – Costing Techniques

Apportionment basis of floor area cost for various services

Question

Apportionment on the basis of Floor Area can be used for the following costs EXCEPT:
A. Rates
B. Lighting
C. Rent
D. Administration
E. Cleaning

Answer

Find Related Questions by Tags, levels, etc.

Tags: apportionment, Costing, Service Industries
Level: Level 1

Topic: Costing Techniques
Series: NOV 2022

CSME – Nov 2019 – L2 – Q1 – Strategic Implementation

Discusses Fitzgerald and Moon’s building block model and applies it to Premier Insurance Plc.’s strategic performance evaluation, recommending new strategies based on the model.

Question

Required:
(a) Discuss Fitzgerald and Moon’s building block model for analyzing performance management systems in service industries. (12 Marks)

(b) Apply the Fitzgerald and Moon building block model to evaluate the strategic performance of Premier Insurance Plc. (20 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Performance Management, Performance metrics, Service Industries, Strategic Reorganization
Level: Level 2

Topic: Strategy implementation
Series: NOV 2019

SCS – March 2023 – L3 – Q5 – Strategy implementation

Uses Fitzgerald and Moon’s performance measurement dimensions to link LCH’s performance assessment to corporate strategy.

Question

Required:
Using Dimensions as a tool for performance measurement, discuss how LCH could link performance assessment to corporate strategy.
(10 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Corporate Strategy, Healthcare, Performance Dimensions, Performance Management, Service Industries
Level: Level 3

Topic: Strategy implementation
Series: MAR 2023

MI – Nov 2022 – L1 – SB – Q1a – Costing Methods

Listing of service industries and corresponding units of cost

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Cost Units, Service Costing, Service Industries
Level: Level 1

Topic: Costing Methods
Series: NOV 2022

MI – Nov 2022 – L1 – SA – Q1 – Costing Techniques

Apportionment basis of floor area cost for various services

Question

Apportionment on the basis of Floor Area can be used for the following costs EXCEPT:
A. Rates
B. Lighting
C. Rent
D. Administration
E. Cleaning

Answer

Find Related Questions by Tags, levels, etc.

Tags: apportionment, Costing, Service Industries
Level: Level 1

Topic: Costing Techniques
Series: NOV 2022

Question Tag: Service Industries

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CSME – Nov 2019 – L2 – Q1 – Strategic Implementation

Discusses Fitzgerald and Moon’s building block model and applies it to Premier Insurance Plc.’s strategic performance evaluation, recommending new strategies based on the model.

SCS – March 2023 – L3 – Q5 – Strategy implementation

Uses Fitzgerald and Moon’s performance measurement dimensions to link LCH’s performance assessment to corporate strategy.

MI – Nov 2022 – L1 – SB – Q1a – Costing Methods

Listing of service industries and corresponding units of cost

MI – Nov 2022 – L1 – SA – Q1 – Costing Techniques

Apportionment basis of floor area cost for various services

CSME – Nov 2019 – L2 – Q1 – Strategic Implementation

Discusses Fitzgerald and Moon’s building block model and applies it to Premier Insurance Plc.’s strategic performance evaluation, recommending new strategies based on the model.

SCS – March 2023 – L3 – Q5 – Strategy implementation

Uses Fitzgerald and Moon’s performance measurement dimensions to link LCH’s performance assessment to corporate strategy.

MI – Nov 2022 – L1 – SB – Q1a – Costing Methods

Listing of service industries and corresponding units of cost

MI – Nov 2022 – L1 – SA – Q1 – Costing Techniques

Apportionment basis of floor area cost for various services

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CSME – Nov 2019 – L2 – Q1 – Strategic Implementation

Discusses Fitzgerald and Moon’s building block model and applies it to Premier Insurance Plc.’s strategic performance evaluation, recommending new strategies based on the model.

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SCS – March 2023 – L3 – Q5 – Strategy implementation

Uses Fitzgerald and Moon’s performance measurement dimensions to link LCH’s performance assessment to corporate strategy.

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MI – Nov 2022 – L1 – SB – Q1a – Costing Methods

Listing of service industries and corresponding units of cost

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MI – Nov 2022 – L1 – SA – Q1 – Costing Techniques

Apportionment basis of floor area cost for various services

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CSME – Nov 2019 – L2 – Q1 – Strategic Implementation

Discusses Fitzgerald and Moon’s building block model and applies it to Premier Insurance Plc.’s strategic performance evaluation, recommending new strategies based on the model.

You're reporting an error for "CSME – Nov 2019 – L2 – Q1 – Strategic Implementation"

SCS – March 2023 – L3 – Q5 – Strategy implementation

Uses Fitzgerald and Moon’s performance measurement dimensions to link LCH’s performance assessment to corporate strategy.

You're reporting an error for "SCS – March 2023 – L3 – Q5 – Strategy implementation"

MI – Nov 2022 – L1 – SB – Q1a – Costing Methods

Listing of service industries and corresponding units of cost

You're reporting an error for "MI – Nov 2022 – L1 – SB – Q1a – Costing Methods"

MI – Nov 2022 – L1 – SA – Q1 – Costing Techniques

Apportionment basis of floor area cost for various services

You're reporting an error for "MI – Nov 2022 – L1 – SA – Q1 – Costing Techniques"

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