Exam (elaborations)MAC3703
Assignment 2 (COMPLETE ANSWERS)
Semester 1 2024 (663679) - DUE 15 April
2024• Course• Selected Accounting &
Financial Management Techniq
(MAC3703)• Institution• University Of
South Africa (Unisa)• Book•
Management accountingMAC3703
Assignment 2 (COMPLETE ANSWERS)
Semester 1 2024 (663679) - DUE 15 April
2024 ;100% TRUSTED workings,
explanations and solutions. for assistance
Whats-App.......0.6.7..1.7.1..1.7.3.9.........
[DATE]
[COMPANY NAME]
[Company address]
,Exam (elaborations)
MAC3703 Assignment 2 (COMPLETE ANSWERS)
Semester 1 2024 (663679) - DUE 15 April 2024
Course
Selected Accounting & Financial Management Techniq
(MAC3703)
Institution
University Of South Africa (Unisa)
Book
Management accounting
MAC3703 Assignment 2 (COMPLETE ANSWERS) Semester 1 2024
(663679) - DUE 15 April 2024 ;100% TRUSTED workings, explanations
and solutions. for assistance Whats-App.......0.6.7..1.7.1..1.7.3.9.........
QUESTION 1 (20 MARKS) DNF Waste & Environmental Services (DNF) is
an Environmental Management and Waste Management Services
Company that was created in 2008. It is one of the leading waste and
environmental management service providers in South Africa. DNF is a
100% Black woman owned business and is a Level 1 Value Added
Supplier and Exempted Micro Enterprise in terms of the latest BBBEE
Codes of Good Practise. Waste Management services include Onsite
Waste Management, Collection and Recycling, Static and Mobile Buyback
Centres, Call2Action Programme, Oil Recycling and Glass Beneficiation
Environmental Management services include Auditing, Management
Systems Implementation, Assessments & Monitoring and Training. The
founder of the company Ms. Dee recently left the company and Ms. Lee,
her daughter, has since taken over as the company managing director.
Since Ms Dee’s departure, DNF has had a high staff turnover due to
unhappy employees. During Ms Dee’s tenure the employees were allowed
to rate themselves using their own ratings for certain agreed performance
criteria. Management would then assess and review the rating. Ms. Lee felt
that this was not effective as the performance metric as most employees
did not rate themselves on their contribution towards the company’s
financial targets (sales, productivity, profit etc.). She also felt that this was
the reason why profits didn’t grow. Ms. Lee is worried that the company has
been severely impacted by Coved 19, with sales and profits declining by
more than 10%, a declining market share, high staff turnover and a growing
negative attitude amongst employees of the company towards the future
, prospects of the company. She then decided to change the performance
metrics to a more formal approach focusing mainly on key metrics related
to sales and productivity for the company rather than the employee
selected metrics. She also reduced costs including staff salaries by 20% to
stabilise the company. This led to a mass resignations at the company
were employees were not happy with these decisions. They feel
MAC3703/Assignment 2/2024 4 that it is difficult to reach the company’s
sales/financial targets due to the coved impact and that the 20% reduction
in salaries is unfair. Despite the challenges that the company is
experiencing, Ms. Lee is still excited about the growth prospects of the
company as the company is a market leader in Research and development
and very innovative in terms of product development. DNF has a very
strong asset base that can be used for potential investment in capital
projects. The company is also heavily involved in community projects
through their “no child to attend school barefoot” project which is geared
towards assisting the community. The following was noted with respect to
employee behaviours: Ms Dee’s tenure – employees did more than what
was required of them, although not all these tasks resulted in the company
meeting its financial targets. Ms. Lee's tenure – employees feel forced to
pursue financial targets and aren’t happy with this cold approach
REQUIRED:
(a) Contrast and discuss the performance appraisal metrics used by both
Ms Dee and Ms. Lee during their tenure as CEO of the company (6 Marks)
Performance appraisal metrics used by Ms. Dee and Ms. Lee during their tenures as CEOs of
DNF Waste & Environmental Services reflect different approaches to evaluating employee
performance and aligning it with company goals:
Ms. Dee's Tenure:
Self-Assessment with Agreed Criteria: Under Ms. Dee's leadership, employees
were allowed to rate themselves using their own ratings for certain agreed
performance criteria. This approach gave employees autonomy and allowed them to
assess their own performance based on criteria they deemed important. However, it
lacked a standardized evaluation framework, potentially leading to subjective
assessments.
Employee-Centric Evaluation: Employees were empowered to rate themselves
based on their perceived contributions, which could encompass a wide range of tasks
beyond financial targets. This approach encouraged a holistic view of employee
performance, valuing contributions beyond just sales and productivity metrics.
Ms. Lee's Tenure:
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through EFT, credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying this summary from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller tabithamwendwa73. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy this summary for R75,71. You're not tied to anything after your purchase.
