The November Case Study exams are right around the corner! Here are some key points to keep in mind.
The Ops Case Study exam is centred around ‘AmaZZZing Beds’, a leading retailer and manufacturer of beds in the fictional country of Eastland. AmaZZZing Beds sells its products directly to the public in-store and online via their website.
By the numbers
- $174mil Annual Sales
- $80mil Gross Profit
- 1160 Employees
- 120 Showroom Stores
- Number one in the Market
Some of the key concepts and techniques you should be familiar with
- Costing Techniques - including Absorption Costing (used by AmaZZZing Beds), ABC Costing and Marginal Costing
- Various Budgeting Approaches - including Participative Incremental Budgeting (used by AmaZZZing Beds), Rolling Budgets, Zero-based Budgets and Beyond Budgeting
- Relevant Costing
- Risk Management Techniques
- All relevant IAS/IFRS
- Working Capital Management (trade payables, inventory, receivables)
- Environmental Analysis Tools (PESTLE, SWOT & Porter’s Five Forces)
- Operations Management (Porters Value Chain, TQM, JIT & Quality Management Tools)
- Human Resource Management (Recruitment, Selection, Training & Development)
- Sales & Marketing Topics (4P’s, BCG Model, Ansoff’s Matrix, Product Lifecycle)
- Information Technology
- Novel Technologies (Big Data, AI, Internet of Things, Cloud Computing, Data Visualization, Mobile Technologies)
- Corporate Governance, Corporate Social Responsibility & CIMA’s Code of Ethics
- Know the pre-seen backwards
- Read the requirements carefully
- Convert every requirement into a heading on your answer screen
- Jot down bulleted points as your subheadings taking into consideration the possible marks available
- Type in full sentencesunder each sub-heading, with proper explanations. Remember the markers mark what they see and not what you are thinking
- Make a recommendation
- Justifyyour recommendations
- Ensure you manage your time effectively
- Answer the question being asked not the question you’re hoping for – the exam is not a knowledge dump
- When prepping, make sure you have no knowledge gaps in the E1, P1 and F1 syllabuses, especially if you have received exemptions
- Do not click next. If you finish a question with time to spare use the additional time to check your work. You cannot bank time.
- Remember who you are writing for. If the question requires you to write to a non-finance professional do not use financial jargon.
Most importantly stay calm, keep your eye on the time and back yourself. You’ve got this!