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Jamie Carrahar

Chartered Management Accountant

Category

Managerial Case Study

Fantastic CIMA Pass Rates

CIMA have shared the 2016 pass rates for OT exams and the November Case Study exams, a rather impressive set of results highlighting how prepared students are for their exams.

Well done to students for their hard work and dedication to a challenging professional qualification and bravo to faculty members alike for supporting students towards success!

The blog post reads:

Check out our great pass rates!
By Jackie Durham

Administrator, Editor, Moderator, Staff

19th January 2017

Pass rates for both the Objective Tests and Case Study exams continue to rise. For the November case study, pass rates were: Operational 67%; Management 71% and Strategic 65% . 

We have seen positive pass rates in the OTs across the majority of subjects. The even better news is that pass rates are continuing to rise, particularly across the Management and Strategic level subjects.  

Strong pass rates and the flexibility of the our syllabus and assessments mean students are able to progress much more quickly and achieve the career success they deserve. 

Here are a few highlights:

The subject the highest first time pass rate is E2 at 86% followed by F1 with 77%. 

OT overall pass rates for 2016/ First time pass rates for 2016: 

E1 87% / 77%
P1 68% / 48%

F1 83% / 72%

E2 93% / 86%

P2 72% / 51%

F2 76% / 51%

E3 81% / 65%

P3 77% / 55%

F3 78% / 55%

To view the original article, visit CIMA Pass Rates https://connect.cimaglobal.com/blogs/check-out-our-great-pass-rates

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CIMA Case Study Results Explained

In anticipation of CIMA May 2016 results being announced, CIMA have produced an article to explain the results.

The original article can be found here.

Operational Case Study Exam

 Grade descriptors for Case Study exams
Administrator, Editor, Moderator, Staff
20th June 2016

As part of our efforts to improve your learning experience while studying the CIMA Professional Qualification, we are publishing new “grade descriptors” to help you understand your case study exam results feedback across the competencies. Grade descriptors will be implemented from May Case Study exam results onwards.

How should I interpret my case study exam results?

Up to now Case Study exam results have been communicated with:

1. An overall grade (Pass/Fail)

2. A scaled score between 0 – 150 (80 or above representing a pass)

3. Sectional Feedback (An indication of performance against each of the four competencies and integration)

To pass you need to score 80+ and reach a minimum threshold score for each competency (approximately one third of the total marks available for that competency) and Integration.

The only exception to this is Operational level where the marks available for Leadership and Integration are only a small proportion of those available and so it would not be meaningful to set a minimum threshold. No candidate will fail at Operational level on Leadership or Integration for this reason.

Please note the passing criteria above remain unchanged, it is the feedback we provide on your performance across the competencies which has been improved. So, in terms of your overall grade: 

Pass Fail

Sectional feedback

The sectional feedback looks at how you performed against each of the four competencies (Technical, Business, People and Leadership skills) and Integration. This is all aligned to the CGMA Competency Framework. Reflecting the knowledge and skills employers told us they expect to see from finance professionals, at various levels in their organisations.  The framework is what sets the CIMA Professional Qualification and you as a CIMA student apart from other similar qualifications.

Success in the Case Study exams demonstrates your all round competence and employability. Successfully passing your case study exams gives employers the reassurance of your workplace readiness and that you are equipped with the appropriate skills and abilities to perform well in your role. Whether that’s as a Finance Officer (Operational level), Business/Finance Manager (Management level/CIMA Gateway) or CFO/ Senior Business/Finance Manager (Strategic level).

It’s important that you demonstrate your ability across the four competencies as well as scoring enough marks to pass the case study exam. For each competency you will receive a performance rating from one of three categories as shown below:

Fail-Moderate-Strong

Grade descriptions are a very useful and objective way of describing the standards of achievement likely to have been demonstrated by candidates awarded a particular level of performance.

The new grade descriptors

Grade descriptions are a very useful and objective way of describing the standards of achievement likely to have been demonstrated by candidates awarded a particular level of performance.

For each level of the case study exam (Operational, Management and Strategic), we have developed a set of grade descriptors to map the performance ratings above (Fail, Moderate and Strong against each competency and Integration.

The grade descriptors are based on the skills and/or abilities expected for different roles. They are part of a holistic system which recognises links between categories and progression between levels. Few of you are likely to be “moderate” or “strong” across or even within all competences. Most exam performance will be a mixture of the categories. Your final result will reflect where you sit overall. Remember, a good in depth answer to all parts of the task requirements will hit the competencies and integration and is the best way to prepare to pass.

How should I use the grade descriptors?

The descriptors at each level are applicable across all variants and case study sessions and they offer a consistent way to feedback on your performance in the exam. Essentially they show you what you are aiming for and will help identify where your performance in an individual competency may have fallen short of the general standard for the level of case study you sat. They are best used in conjunction with the syllabus content and all other study resources available for the case study exams.  When preparing for the exam, you can use them to benchmark your performance and see what you need to achieve to become “exam ready”.

If you have performed strongly across all competencies, the grade descriptors will highlight what you should continue to do and which skills you can build on for future exams.

If you have failed a case study, they will be particularly useful when used in conjunction with other case study resources on CIMAconnect, including the post exam kit for your variant and the “walkthroughs” of real case study answers (available soon) which will illustrate how they can be used to review performance.

Reimagining Retail: 3 Ways Digital Technology is Changing the Way We Shop

An interesting article from Ryan Brady on the future of retail and the impact technology will have on us all. Pay particular attention to the virtual reality software that could help individuals decide on which pair of glasses to purchase or the use of “beacons” to promote eye tests to those passing IC Optical Stores.

Click here to access the original story.

Reimagining Retail: 3 Ways Digital Technology is Changing the Way We Shop

Make no mistake about it—the technology around us is impacting every aspect of our waking lives. We’re living in a time which would make science fiction luminaries the likes of Philip K. Dick blush. With driverless cars on the horizon and drones at our doorstep (literally), our world is undergoing not merely a transformation, but an entire digital reimagining.

We could go into a discussion about how digital innovations are changing every aspect of our lives, but I’d like to touch on how it’s reinventing retail specifically; both for the business owner and the consumer. Here are 3 very exciting technologies that are currently reimagining retail as we know it:

Virtual Reality (VR)

It’s no secret that e-commerce has been a massive (let me re-iterate, massive) game-changer for the retail sector. Large, established corporations are falling by the wayside due to these shifting consumer habits that e-commerce has largely brought about.

But as popular as e-commerce is today, a large number of consumers still prefer to buy in-store. Even Amazon has reverted back to traditional B&Ms. Why? Many shoppers still enjoy the whole ‘experience’ of shopping. It’s both a multi-sensory and social experience that allows shoppers to physically interact with the products before they make a purchase. Indeed, research from TimeTrade Sytems found that 85% of consumers say they prefer to ‘touch and feel’ products in-store before they decide what to buy.

However, virtual reality might soon turn the traditional shopping experience on its very head. Virtual reality is an exciting new area that has huge implications for the future of retail. Imagine donning a VR headset so it feels like you’re actually walking through your favorite store or shopping mall. Now imagine being able to ‘pick up’ and ‘feel’ the store’s virtual products. It could soon become a reality. There is currently much research being conducted on bringing haptics to the virtual world. One company spear-heading the campaign is Gloveone. They have developed virtual reality gloves that allow users to ‘feel’ such sensations as the pattering of raindrops or even the delicate flutter of a butterfly’s wings. This is truly innovative stuff that cannot be ignored.

Even the humble grocery store can’t escape digital’s grasp. Take a look at this ‘virtual’ grocery store in Korea. Shoppers can peruse the virtual aisles (which are really just digital billboards of sorts attached to walls of public places with high foot traffic) and then purchase said items by means of scanning a QR code with a smart phone. The items purchased are then delivered to the customer’s door moments later.

Korean VR grocery store

A Korean shopper peruses the virtual shelves. Image courtesy: lildoremi.org

Another take on virtual reality that deserves a quick mention is the ‘virtual fitting room’. Shoppers can now stand in front of a full-size screen and virtually ‘try on’ articles of clothing without the hassle of dragging them inside a fitting room and (admittedly my least favorite part) putting them back on the clothes hangers afterward. Just check out this video to see the ‘Memory Mirror’ in action:

Internet of Things (IoT)

It’s happening. Almost every single ‘thing’ around us will soon have its own internet connection. What does this mean for retail? Well, a number of things. For starters, beacons will—and are, in many cases—enticing consumers into nearby stores by pinging their smart phone with a coupon code or some other personalized message. There is much debate revolving around the ‘creepiness factor’ of this tech, and whether or not it intrudes on a customer’s personal space. On top of that, Forrester’s Sucharita Mulpuru tells me beacons are the most overrated technology in retail today. Nonetheless, it’s a technology that continues to grow and one we should continue to pay attention to.

image: http://cdn2.business2community.com/wp-content/uploads/2016/03/Sucharita-Quote-cropped-600×334.jpg

Sucharita Quote cropped

Another cool connected thing worth mentioning is the ‘smart’ shopping cart. Living up to its namesake, Accenture’s Chaotic Moon (the same crazy bunch that invented the bio-wearable ‘Tech Tats’) is doing some exciting stuff in the retail space. Blending elements of the IoT, artificial intelligence and biometrics, Chaotic Moon created what they dub the ‘SmartestCart’: a shopping cart that essentially follows you around and helps you navigate the grocery store as you shop. No longer will you have to awkwardly bump into other shoppers as you attempt to read the overhead aisle signage. Another nifty feature is that it allows you to bypass the checkout line when you’re done.

This last example we’ll touch on will appeal to retail store owners. ‘Smart’ digital price tags are a new(ish) technology that can change prices throughout a store with a push of a button. This will not only make it easier to reprice inventory, but will also ensure that the price displayed is the correct price for the product. However, there is also a possibility to change prices that reflect real-time demand—such as during peak evening hours versus the mid-day slump. This is one of the concerns revolving around this technology that, if implemented, would surely destroy consumer trust.

Biometrics

Remember that Philip K. Dick reference I kind of boldly threw out there earlier? Well here’s where we make the connection. Personalized advertising using facial recognition (like from that one scene in Minority Report) may be closer to reality than we think. UK retailer Tesco recently launched ‘digital screens’ that are able to determine a customer’s gender and age in order to deliver personalized advertisements in real-time—making the experience more engaging and relevant for the customer (again, will this pass the ‘creepiness factor’?).

Finally, let’s not forget about payments. Biometrics are finally beginning to influence the check-out process as consumers look for more reasons to ditch their wallets in lieu of a more convenient (and secure) payment option. Right now, fingerprint biometrics seems to be the most popular and intuitive solution, but voice and facial recognition are well on their way.

Technology tends to have a pesky way of exponentially impacting human civilization. The ‘digital disruptions’ we make such a big deal about today will be nothing compared to the disruptions of tomorrow. The retail sector is no exception. The above technologies are just a drop in the bucket—and every day the bucket fills just a little bit more. It’ll be interesting to see, going forward, just how the world of retail will be reimagined in the years to come. And then reimagined again.

This may sting: Google’s new patent describes a smart lens injected right into your eyeball

Wow! I don’t know about you. but I’m the guy who gets incredibly nervous when winter approaches because that can only mean one thing… The flu jab. At least with a flu jab I can look away, for some reason I don’t think there is much scope to look away when having one of these “smart lenses” injected into your eye.

Do you think IC Optical would go this far?

This may sting: Google's new patent describes a smart lens injected right into your eyeball

Google Smart Lens.PNG

Google may be developing smart contact lenses powered by the sun

Yet another article based on the future of smart contact lenses! It is no surprise that renewable energy is on the rise and with such widespread applications in other aspects of life, why not create a smart contact lens powered by the sun…

Google may be developing smart contact lenses powered by the sun

Sony developing smart contact lens that does more than let you see

Keeping with my recent theme of smart contact lenses, here’s another link to demonstrate that Sony are also interested in developing a smart contact lens. This must be a real option for the examiners to explore in your exam!

Sony developing smart contact lens that does more than let you see

Links to other related articles:

A Smart Contact Lens for Glaucoma Patients

Samsung’s ‘Smart’ Contact Lenses Could Give Us Superhuman Vision

Protos Eyewear & 3D Printing

Thank you to Charlotte for sharing this video with me, I do think 3D Printing is a real option for IC Optical to engage in R&D and potentially create competitive advantage by allowing customers to create bespoke glasses in store and leave with them the same day.

Always be prepared to comment on the financial and non-financial aspects of any investment decision.

CIMA Article on the Importance of Verbs

201002-CIMA_Importance_of_Verbs

Here’s an article (albeit a dated article, written before the 2015 syllabus change) however it does provide an interesting insight into the importance of verbs and the link with exam success! Especially when interpreting the requirements.

 

Optimax Lens Surgery – Story of Eddie “The Eagle”

If you haven’t seen the film Eddie “The Eagle”, you should! I loved his sheer determination to succeed, despite all of the odds set against him.

Here’s a video from Eddie the Eagle explaining the difference surgery has made to his performance, 0:45 made me chuckle when he refers to travelling at 75mph on a jump without being able to see where he is going. 1:40 he also mentions how people recognised him for the strong prescription glasses he originally wore and his surprise that people still recognise him without glasses.

Consider the impact of lens surgery for IC Optical from across the E, F and P pillars.

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