mgt 284 financial management for kroc centers … mgt 284 j bailey.pdf · mgt 284 financial...

MGT 284 Financial Management for Kroc Centers Spring 2018

Course Information Instructor: Jonelle Bailey, MA BoothUC Email: [email protected] Phone: 847.294.2243 office 847.971.3684 mobile

Duration: May 7 to July 27, 2018 Delivery Mode: Online Credits: 3 credit hours Prerequisites: Admission to Certificate in Kroc Center Leadership Voluntary Withdrawal Deadline: June 29, 2018 Time Extension Application Deadline: July 13, 2018

Course Description This course offers students an opportunity to explore foundational concepts of financial management in Kroc Centers, to analyze the role of Senior Leadership in strategic planning in running a profitable center, and to apply financial management tools to diagnose innovative ways to establish efficiency. This course embraces a perspective of learning at the organizational level of analysis grounded in the premise that Kroc Centers are hybrid sector/social enterprise non-profits with for-profit business models.

Required Textbooks Please see the bibliography section for links to reading material. There are also course related materials listed under course resources on the MyBoothOnline course site. Learning Objectives After successful completion of this course, Learners will be able to:

1. Understand the importance of financial management to Kroc Centers

2. Develop a strategic plan using the nine steps in the strategic planning process 3. Communicate to stakeholders the overarching purpose and value of a Kroc Center in the

community. 4. Understand the role and purpose of Kroc Operating Standards (KOS) in order to provide

appropriate oversight to program and operations personnel. 5. Using the TSA systems students will conduct a feasibility study using the seven steps in

feasibility analysis.

1. “Office hours”

○ There are several modes of communication for participants – Sametime, e-mail, and telephone. The option of contacting me directly for direction is always open. I will be available each business day from 10:00 – 11:00 am CST, if needed.

2. Technical Support

○ For all technical issues related to Moodle, LOTUS, CCMS or the Kroc Standards platform please contact your training facilitator first so that they can troubleshoot and direct you to the appropriate area.

3. Support Services for Students with Disabilities

○ Participants with documented disabilities will receive any and all needed additional

support to ensure that learning objectives are met. Please refer to your HR manual received during New Hire Orientation to reference specific accommodations policies related to associates with Disabilities and contact the HR department directly with any concerns.

○ If you have a disability that will require learning and training accommodations, you need

to do both of the following as soon as possible: 1) contact your designated HR contact who will assist you in obtaining a letter verifying your disability and the accommodations needed, and, 2) set up your learning curriculum with your facilitator to review this letter and discuss what reasonable accommodations can be made.

4. Course Rationale

○ The Kroc Certification was created to prepare Salvation Army Staff with a more comprehensive understanding of a for-profit business model and create succession planning opportunities. When the Kroc Centers were started the centers did not have a playbook or plan to utilize so each center created their own. In an attempt to assist the centers and provide standardization the Kroc Standards were created. The struggle Kroc centers face is the duality of being a non-profit, living up to the Salvation Army mission, and maintaining a profit. How can we meet human needs without discrimination and still make a profit?

○ This course will explore that question and provide participants hands-on applications as to what they can do ensure they are maintaining the mission of the Salvation Army and be fiscally responsible.

5. Teaching and Learning Methods

○ Critical Reading—Regular reading assignments, which include case studies, articles, and journals, selected to explore the dimensions and scope of the Kroc Centers, and the premise as to how these tools will benefit center efficacy.

○ E-Learning—A series of designed e-learning courses with assignments to facilitate participants’ ongoing critical reflection and application of the material to his or her own practice setting.

○ Project Demonstration & Technology Acumen—Individually and in collaboration with fellow new students, analyze case scenarios, develop and submit video and/or audio solutions to assigned task, and interactively present and critique the synthesized submissions.

○ Dialog—Participants will contribute regularly to forums designed to offer participants opportunities to exchange ideas, identify areas of consensus and disagreement among fellow associates, and formulate substantive responses and contributions to inquiry in the training.

○ Feedback—Associates will receive regular feedback on their performance and progress throughout the training.

6. Grading (overall course and individual assignments)

Grade Grading Criteria (# of total points)

A+ 925 - 1000 Superior performance in meeting course objectives

A 850 – 924 Excellent performance in meeting course objectives

B+ 774 - 849 Excellent performance in meeting course objectives

B 699 – 773 Good performance in meeting course objectives

C+ 623 - 698 Average performance in meeting course objectives

C 548 – 622 Adequate performance in meeting course objectives

D 397 - 547 Marginal performance in meeting course objectives

F 396 and below unsatisfactory performance

Course Grading Distribution Total Possible Points

#1 Dialog Forums (12 forums) 300

#2 Feasibility Study Assignment 200

#3 Social Responsibility Assignment 200

#4 Business Plan - Group Project 300

Total 1000

Assignments

Assignments #1 and #2 are both worth 200 points. The assignment #3 is a group project worth 300 points. Weekly Dialog questions are 25 points each. There will be knowledge checks (quizzes) throughout the course, those are to be considered extra credit but are worth 10 points each. The knowledge checks will reflect the reading and should assist you in the assignments for each section. Dialogs: (25 points per forum) this training is designed to be a collaborative learning community using Dialog Forums. Weekly Dialog Questions (WDQs) on topics relevant to the assigned course topics will be assigned by the facilitator, who will open the dialog by posting relevant questions or comments intended to seek reflective comments by the participants. Active participation in the class dialog with timely postings in the forums is important to the efficacy of this training. Participants are to enter their 1st dialog postings by 11 p.m. (in the student’s time zone) Tuesday of each week. The discussion for each topic will close at 11 p.m. on Friday of each week. Participants will be expected to contribute to the responses of at least three other participant postings discussion. Dialog postings should be reasonably brief, e.g., approximately 250-500 words, and contain original ideas and suggestions. Responses to other associates’ posts should extend the conversation and not merely offer a comment of agreement or a descriptive statement. For instance, question assumptions underlying claims or offer additional questions for the group that will enhance learning. The facilitator will actively participate in the dialogs by providing feedback and answering and asking questions. The facilitator will grade each dialog by Saturday of each week.

Letter Grade

Total Points Earned On

Assignment Description

A+ 270 - 300

Superior performance. Models professionalism and exemplary intellectual engagement with the training content. Demonstrates ability to productively identify sources of conflict, tension, and disagreement in ways that motivate and deepen inquiry in the course. Postings submitted on time, allowing ample time for others to comment; three responses submitted to the postings of others.

A 240 - 269 Excellent performance in meeting course objectives

B+ 209 - 239

Excellent/good performance. Consistently expresses an open, attentive, collegial, caring demeanor. Offers comments and questions to facilitate understanding, further development, and clarification of fellow students’ points. Postings submitted on time, allowing others to post responses; follow up comments are brief and not leading to additional learning.

B 179 - 238 Good performance in meeting course objectives

C+ 148 - 178

Average performance. Inconsistent posting; comments lack depth; oversimplifies the issues; and, postings are submitted at last moments, allowing little or no time for follow up discussion.

C 118 - 147 Adequate performance in meeting course objectives

D 57 - 117 Deficient in mastery of course material. Inconsistent posting; postings are submitted at last moments if at all, allowing no time for follow up discussion.

F 56 and below

Unsatisfactory performance. Demonstrates untimely, non-collegial, unprofessional, disruptive, or otherwise rude behavior. Attempts to silence or dominate others during dialog. Offers comments that tend to close dialog or interfere with exploration of an issue’s complexities or ambiguities. Adopts an uncaring demeanor toward others.

Assignment 1: (200 points) this assignment is meant to utilize the readings and discussions up to week 4. You will be working on manpower scheduling, inventory and pricing. The focus of this assignment is to determine the benefit or detractor of food service/events for Kroc Centers and what those might be. All assignments must be submitted by Saturday 11p.m. (in the student’s time zone). Assignments will be graded within two weeks of submission date.

Letter Grade



A+ 185 - 200 Superior performance. Models professionalism and exemplary intellectual engagement with the training content.


B+ 154 - 169 Excellent/good performance. Consistently expresses an open, attentive, collegial, caring demeanor.


C+ 123 - 138 Average performance. Inconsistent; lacks depth; oversimplifies the issues; and, posting submitted at last moments.


D 77 - 107 Deficient in mastery of course material.

F 76 and below Unsatisfactory performance.

Assignment 2: (200 points) this assignment is meant to utilize the readings and discussions up to week 4 high lighting the Kroc Standard tool. You will be asked select a Kroc Center location. If you are not currently located at a Kroc Center please reach out to me or someone in your group that is located at a Kroc. You will be reviewing Chapter 2. Community. This week will focus on 2.1 Target Community and 2.3 Community Capacity Building. Please answer the questions in section 2.1 and give suggestions for section 2.3. All assignments must be submitted by Saturday 11p.m. (in the student’s time zone). Assignments will be graded within two weeks of submission date.

Letter Grade











Assignment 3: (300 points) this assignment is meant to utilize the readings and discussions up to week 12. This will be a group project. Each group will need to identify the group lead who will be submitting the project. Each group will be creating a business plan based upon the information learned through out the course. Please divide up the responsibility for each section of the business plan and identify who was the lead for that area. All assignments must be submitted by Saturday 11p.m. (in the group lead’s time zone). Assignments will be graded within two weeks of submission date.

Letter Grade











Course Outline

Week Topic Resources & Reading Activities / Assignments

1 Foundation of Financial Management

Foundation of Financial Management

In Search of the Hybrid Ideal

Discussion 1: introduction Discussion 2: What type of business are we in.

2 Managing Cash Flow & Pricing Strategies

Dittmer Chapter 3: Cost/Volume/Profit Relationships

Marketing strategies

Discussion 3: From your experience what are some key challenges in estimating Cost of Goods in our organization? What are strategies to assist with promotion of a product?

3 Supply Chain Management & Managing Inventory

Dittmer Chapter 12: see resources for sections

Discussion 4: What do you see as key factors in cost control for service? Who would be competitors in the area that would affect sales for the center/cafe etc…?

4 Feasibility Study Food & Beverage Case Study Assignment 1: Manpower, inventory, Pricing: Should we continue food service as it stands? If not what changes should be made? Discussion 5: What are some alternatives to providing food service in the Kroc Centers?

5 Role of Leadership Organization charts, leadership reading TBD

Discussion 6: TBD

6 Review of Systems CCMS, Accounting, Kroc Standards of Operation

Discussion 7: Systems: challenges, benefits, basic access. NOTE: It is suggested to work with your groups this week for those not currently at a Kroc Center to gain insight.

7 Personnel Kroc Standard of Operation Chapter 3 Personnel

Discussion 8: Section 3.3.8, 3.4.3, 3.4.10, 3.4.12 review each of these sections and give a brief explanation (no less than one page single spaced) on why these

are or are not essential for leadership responsibility and staff development.

8 Social Responsibility Kroc Standards of Operation Chapter 2 Community

Assignment 2: chose a community/Kroc Center and answer section 2.1 Target Community and give suggestions for 2.3 Discussion 9: TBD

9 Financial Management Tools Sustainability information Discussion 10: each group will post a discussion on the Sustainability matrix information

10 Impact Statements Sustainability Information Discussion 11: each group will post their Impact statement based upon week 9’s post.

11 Arbitrary Pricing/Budgets CCMS Reports, Membership calculator, program budget worksheets

Discussion 12: TBD

12 Business Plan

Template Defining Objects & Targets ppt

Assignment 3 Group Project: Each group will create a business plan following the template attached.

Please refer to the academic calendar (boothuc.ca under “Academics”) for complete information regarding academic policies.

Letter Grades & Grade Points A+ (4.5) Exceptional performance with evidence of outstanding original thinking, superior organization, exceptional capacity to analyze and synthesize; a superior grasp of the subject matter with sound critical evaluations; evidence of an extensive knowledge base. A final grade of A+ may be awarded only with the approval of the Academic Dean.

A (4.0) Excellent performance with evidence of excellent original thinking, excellent organization, excellent ability to analyze and synthesize; an excellent grasp of the subject matter with sound critical evaluations; evidence of an extensive knowledge base.

B+ (3.5) Very good performance with evidence of original thinking, very good organization, demonstrated ability to analyze and synthesize; a very good grasp of the subject matter; evidence of good critical judgment, a very good understanding of the relevant issues under examination; very good familiarity with the relevant literature.

B (3.0) Good performance with evidence of a good grasp of the subject matter; evidence of critical capacity, good analytical ability, a good understanding of the relevant issues under examination; evidence of good familiarity with the relevant literature.

C+ (2.5) Satisfactory performance with evidence of a satisfactory grasp of the subject matter; evidence of critical capacity, demonstrated analytical ability, an understanding of the relevant issues under examination; evidence of familiarity with the relevant literature.

C (2.0) Adequate performance with evidence of an adequate grasp of the subject matter; some evidence of critical capacity, an ability to develop solutions to simple problems found in the material; evidence of familiarity with some of the relevant literature.

D (1.0) Marginal performance with evidence of marginal familiarity with the subject matter and some evidence that critical and analytical skills have been used.

F (0) Inadequate performance with little evidence of even a superficial understanding of the subject matter; serious weaknesses in critical and analytical skills; limited or irrelevant use of the literature; failure to satisfy course requirements. The University College does not use a standard percentage scale to correspond to the letter grade and grade points. If an instructor intends to use a percentage scale, that scale will be included in the course syllabus.

Academic Integrity

It is a serious offence to present a piece of work for course credit as one’s own if the work or a portion thereof was done by some other person (plagiarism). Actions of plagiarism harm both the student and the reputation of the University College. Plagiarism or any form of cheating in examinations or term tests (e.g. crib notes) is subject to serious academic penalty that may include loss of part or all of the marks for an assignment/test, failure in the course, dismissal from the University College, or other serious consequences. Plagiarism or cheating in a course in which a student is cross-registered with the University of Manitoba may lead to disciplinary action by the University according to its policies.

To plagiarize is to take ideas or words of another person and pass them off as one’s own. In short, it is stealing something intangible rather than an object. Obviously it is not necessary to state the source of well-known or easily verifiable facts, but students are expected to acknowledge the sources of ideas and expressions they use in their written work, whether quoted directly or paraphrased. This applies to diagrams, statistical tables and the like, as well as to written material and materials or information from Internet sources. Failure to do so constitutes plagiarism. It will also be considered plagiarism and/or cheating if a student submits an assignment in whole or in part by someone other than him/herself, or copies the answer or answers of another student in any test, examination, or take-home assignment.

At the beginning of their program of study, all students are required to complete the prescribed plagiarism tutorial.

Instructors are required to report all allegations of plagiarism or cheating to the Academic Dean before a grade is assigned. The original assignment is submitted to the Academic Dean.

The Academic Dean will chair a joint meeting of student and instructor to hear both the allegations and the student’s response to the allegations. The Academic Dean will then make a determination whether or not plagiarism or cheating has in fact occurred and decide on appropriate disciplinary measures. The student and instructor will be notified of the Academic Dean’s decision in writing. A copy of the decision will be sent to the Registrar and University College President. The student has the right to appeal the decision of the Academic Dean (see Academic Appeals). Bibliography

● Principles of Food, Beverage and Labor Cost Controls, 7th Edition, Paul R. Dittmer Chapters 3 and 12 posted in MyBoothOnline course site; ISBN 0471397032

o Week 2 - Chapter 3 Cost/Volume/Profit Relationships p. 61 o Week 3 - Chapter 12 Controlling Food Sales p. 267

▪ Goal of Sales Control

▪ Maximizing Profit ▪ Menu Analysis

● Tips to Navigate Financial Crisis (resource for foundation of finance) ● The Fundamentals of Revenue Forecasting (resource for foundation of finance) ● Financial Sustainability for Nonprofit Organizations: A Review of the Literature ● Costs Are Cool: The Strategic Value of Economic Clarity By S. Colby and A. Rubin ● Investopedia.com (for Finance terms) ● PHS Management Training ● In Search of the Hybrid Ideal by Battilana, Lee, Walker & Dorsey

http://www.nonprofitfinancefund.org/fundamental/tips-navigate-financial-crisis

http://pragmaticmarketing.com/resources/the-fundamentals-of-revenue-forecasting

https://www.rand.org/content/dam/rand/pubs/research_reports/RR100/RR121/RAND_RR121.pdf

https://www.rand.org/content/dam/rand/pubs/research_reports/RR100/RR121/RAND_RR121.pdf

https://www.bridgespan.org/insights/library/funding-strategy/costs-are-cool-the-strategic-value-of-economic-cla

http://www.training-management.info/

https://ssir.org/articles/entry/in_search_of_the_hybrid_ideal

mgt 284 financial management for kroc centers … mgt 284 j bailey.pdf · mgt 284 financial...

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