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16-7101 Finance and Marketing

By Joan Hughes,2014-08-25 15:02
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16-7101 Finance and Marketing

MODULE TITLE FINANCE AND MARKETING

    MODULE LEVEL 7

    MODULE CREDIT POINTS 15

    SI MODULE CODE 16-7101

    MODULE JACS CODE

    MODULE AUTHOR / FACULTY N Payne and M Howarth / ACE&S / Engineering / / DEPT. /SUBJECT GROUP Automation and Operations Engineering SG

    MODULE DELIVERY PATTERN (; as applicable or give dates for non-standard delivery) NB "Semester 3" ends on 31 July each year

    LONG (2 semesters) SHORT (1 semester) NON-STANDARD DELIVERY

     Sem 1 & 2 Sem 1 ; Start Date

     Sem 2 & 3 Sem 2 End Date

     Sem 3

    MODULE ASSESSMENT PATTERN (; as applicable - also complete Table A, Section 5,

    below)

    Single Module Mark with Overall Module Pass Mark of 40% ; Single Module Mark - Pass/Fail only Up to Three Assessment Tasks with Pass Mark of 40% for each Task and Overall Module Pass Mark of 40%

     Up to Three Assessment Tasks - Pass/Fail only

     Other

    Overall Module Pass Mark if other than 40% (subject to approval) N/A MODULE INFORMATION (; as applicable - also complete Table A, Section 5

     Is a timetabled examination required for the assessment of this module?

     Is a timetabled examination required for the reassessment of this module?

    Is the module delivered wholly by Distance Learning (ie. not timetabled at SHU)

     Are any staff who are responsible for teaching on this module non-SHU employees? MODULE STATUS (; as applicable to status of module in the context of current proposal)

    ; Unchanged: an existing module, presented as unchanged from previous years Modified: an existing module being modified as a result of this validation, eg. changes to delivery or assessment pattern, title, credit weighting etc

     New: new module to be approved through current validation process

    If status is 'Modified', please give date when Modified Version Available modified version is to be available from from ??/??/??

    Breakdown of Tutor-Led Tutor-Directed Self-Directed TOTAL STUDY notional study (Contact Study Study HOURS for hours by type Hours) this Module

    36 114 150

    OTHER COURSES FEATURING THIS MODULE (please list below)

    M Eng Mechanical Engineering M Eng Electrical and Electronic Engineering M Sc Advanced Engineering Programmes

Indicative Assessment Tasks & 1 task

    100% Coursework Percentage Weightings

    Pre-Requisite Modules None

    1. MODULE AIMS

    To assess the concepts of marketing and financial management in the process of product development in a competitive market place.

    2. MODULE LEARNING OUTCOMES

By the end of the module you will be able to:

    (i) Examine the importance of the marketing and finance functions within engineering

    organisations

    (ii) Examine the function and purpose of management control and information systems

    in relation to the competitive situation of their own organisation. (iii) Evaluate market potential, business growth indicators and critical success factors,

    both financial and non financial within the overall business context and the sectors

    within which the organisation is working

    (iv) Debate the behaviour of groups and individuals as buyers within an organisational

    and individual environment and how this behaviour impacts upon the development

    of marketing strategies

    (v) Critically evaluate the key role of pricing within the marketing mix and the issues of

    relating price, cost, volume and profitability.

    (vi) Critically analyse the process of performance control and management (vii) Examine process of market driven product development and the financial

    implications

    (viii) Use appropriate techniques to support the decision making process. (ix) Critically analyse and compare the difference between profit and cash. (x) Critically analyse and compare the nature of the relationship of an organisation with

    its markets and the impact of marketing on financial performance

    (xi) Demonstrate an understanding of the budgetary control and performance

    measurement systems, both financial and non financial employed by different types

    of organisations.

    3. INDICATIVE LEARNING, TEACHING AND ASSESSMENT ACTIVITIES

    The technical aspects of the two elements of the module will be taught separately but there will be an integrating theme which will relate to the development of sales volume via marketing and innovation strategies, the consequences on financial performance, the issue of price and cost and the issues on managing finance as a consequence of marketing decisions made.

    A combination of teaching methods will be used to deliver this module. Tutors will introduce topics during structured presentation sessions. Case study exercises, syndicate work and student presentations will be used to reinforce the learning process.

50% group project work, 50% individual course work

4. INDICATIVE MODULE CONTENTS

    The relationship between marketing, the development of revenue and the management

    and control of finance and managerial decision making is the central theme for the

    module. The module will review current methods of marketing and financial

    management in an engineering context. It will also consider new developments in the

    areas of control and decision making and the problems associated with applying these

    new methods in engineering.

    The module will specifically cover:

    An introduction to marketing, the role of marketing as a business function and a business

    philosophy

    An introduction to finance, the purpose of, and difference between, financial accounting,

    management accounting and financial management.

    Understanding marketing frameworks, relating markets to organisations and

    understanding the issues arising from marketing management on resource allocation

    The drives for innovation and new product development, product and brand

    management

    Understanding markets and the relationship of products to markets

    Understanding the elements of marketing action and the issues of price and volume on

    profit.

    The control of costs, classification of costs and the problem of overheads

    The decision making process, short term decision making and modelling. The techniques

    employed and their limitations.

    Long term decision making. The techniques employed and their limitations.

    Internal financial control, budgets, and activity based budgeting.

    Performance measurement, financial and non-financial, cash or profit.

FURTHER INFORMATION ABOUT THIS MODULE

; FURTHER / ADDITIONAL INFORMATION IS AVAILABLE TO SUPPORT THIS

     MODULE, INCLUDING ASSESSMENT CRITERIA DETAILING HOW YOUR

     PERFORMANCE IN THE MODULE WILL BE MEASURED, HOW YOU WILL

     RECEIVE FEEDBACK, DETAILS OF LEARNING RESOURCES AND KEY

     READINGS.

; THIS INFORMATION CAN BE FOUND IN THE MODULE HANDBOOK AND

     ASSESSMENT BRIEFS.

; NOTE THAT THIS ADDITIONAL INFORMATION MAY BE SUBJECT TO CHANGE

     FROM YEAR TO YEAR

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