Saturday, 5 March 2016

The construction of a differentiation matrix - For differentiating the curriculum to meet the learning needs of a diverse learner individual


HSC TOPIC: FINANCE

The construction of a differentiation matrix
Source: Adapted from Len Nixon – Business Studies Teaching Method 3- Autumn 2013 – UTS Handout - Week 2

HSC – Year 12
Business Studies  
Finance
1-role of financial management* 2-influences on financial management*3- process of financial management*4- financial management strategies
Multiple Intelligences and  Bloom Taxonomy
Lower Order – 15 Marks
Middle Order – 25 Marks
Higher Order – 45 Marks
Remember
Understanding
Apply
Analyse
Evaluate
Create
Written
Outcome
Being able to describe business functions and processes in large and global businesses
Understanding of the importance of comparative ratio analysis in achieving and maintaining a competitive advantage
An ability to evaluate the findings and compare the risks involved in domestic and global financial transactions

Activity
Outline and define the financial objectives. Identify data from financial reports referred  to each objective
Outline and justify  the importance of financial ratios in running a large successful businesses
Synthesise aspects of business risks management and the impact on global financial management
Product
A completed table of the summary of financial objectives
An essay 800 words
 A report 1500 words
Visual Spatial
Outcome
To outline procedures of profitability management and its key points  connect to  achieving business’ financial objectives

To be able to explain the interdependence of financial management with the other key business functions and examine areas where conflict between stakeholders could occur.
To recognise, explain, and evaluates management strategies in response to changes in internal and external influences
Activity
Describe and clarify Cash flow and Working capital management
Construct a diagram showing interrelationships of financial management with the other key business functions with narrative details and examples
Create a visual presentation which addresses issues and Government and relevant policies affect/influence a business’s ability to effectively manage its financial decision making
Product
Implement an Exam-time software or an inspiration Mind-maps
E-mind-map/Exam-time or any other  medium of visual presentation
Visual presentation / Preizi / Blog / Website 
Verbal
Outcome
Understanding of Financial risk, financial control, and debt and equity financing
To understand the influence of government and the global market on financial management in one large business
To be able to analyse the financial statements from the annual reports of large global businesses
Activity
Identify and outline the advantages and disadvantages of debt finance
Investigate the role of ASIC and its  influences to businesses
Critically evaluate aspects of business using hypothetical situations in examining key financial ratios
Product
3 minute speech
5 minute speech
9 minute speech


You may like to visit my Google site of Teaching and Learning Business Studies [Secondary Education]

Using Case Study as a powerful tool in learning and teaching Business Studies



Using Case Study as a powerful tool in learning and teaching Business Studies

Case Study – what is it? 

Teaching strategy of using Case Study is defined as a particular instance of something used or analysed in order to illustrate a thesis or principle (Oxford University Press, 2013).  This method refers to teaching a completed story which presents realistic, complex, and contextually rich situations and often involves a dilemma, conflict, or problem that one or more of the characters in the case must negotiate. 

Case Study – Why is it important in Business Studies learning and teaching? 

Advantages of the implementation of Case Study in Business Studies learning and teaching
Using Case Study is crucial in teaching Business Studies. It provides a stimulating and relevant framework for students to apply to problems encountered in the business environment. Students also investigate business planning and use a range of information to assess and evaluate business performance (Board of Studies NSW, 2010).

Carnegie Mellon University (2013) extracted an advice from Professor Paul Lawrence who states that Case Study is “the vehicle by which a chunk of reality is brought into the classroom to be worked over by the class and the instructor. A good case keeps the class discussion grounded upon some of the stubborn facts that must be faced in real life situations.”

Using of Case Study strategy is a formal activity which often runs throughout the lesson. It bridges the gap between theory and practice and between academic and real situations (Barkley et al., as cited in Carnegie Mellon University, 2013).

Case Study is an effective strategy in teaching Business Studies because it fosters problematic knowledge, deep understanding in intellectual quality required by the course set by the Board of Studies NSW. In addition, learning through Case Study fosters intellectual, social and moral development by assisting students to think critically about the role of business and its ethical responsibilities to society (Board of Studies NSW, 2010). Furthermore, teaching Case Study promotes students learning in investigating, synthesising and evaluating contemporary business issues and hypothetical and actual business situations. This provides communicational business, and pushes students to apply mathematical concepts appropriate to business situations in order to achieve the syllabus outcomes.

Case Study - Negative impacts on Business Studies learning and teaching 
As mentioned, Case Study is used as a powerful tool in teaching and learning Business Studies, however, from a different point of view, Stand Ford University(2013) cites Hamel (n.d.) who argued that a qualitative case study is limited as it depends on the sensitivity and integrity of the writer/researcher. The researcher is the primary instrument of data collection and analysis to produce the product [case study]. Both the learners of case studies and the writer/s, need to be aware of biases that can affect the final product because the issues of reliability, and validity are limited. It is also very difficult to draw a definite cause/effect from case studies. Further, the case study ‘has basically been criticised for its lack of representativeness and its lack of rigor in the collection, construction, and analysis of the empirical materials that give rise to this study (Hamel as cited in Stand Ford University, 2013).

Both positive and negative impacts, of the Case Study tool, on learning and teaching, in turns, are extremely important because they indicate actual features in the management of real businesses. This helps both students and teacher/s widen and reinforce business knowledge and critical thinking skills, in authentic and meaningful learning that contribute towards their learning and teaching achievements successfully.

Case Study – How is it implemented in teaching Business Studies?

Depending on the purpose of learning outcomes and teaching contexts, the teacher selects the appropriate case studies.

It is advised that the teacher should apply six steps to implement the teaching strategy of using Case Study (Carnegie Melon University, 2013):



Step 1: students are given the reasonable length of time to read and think about the case. At this stage, questions are raised such as ‘What is the nature of the problem the central character is facing? What are some possible courses of action? What are the potential obstacles?’ should be briefly answered.
Step 2: the teacher summarises and provides some guidelines for how to approach learning outcomes by clarifying how she/he wants students to think about the case, asking students to put themselves in the position as if the student were the presiding judge or a consultant hired by this company. Asking students what they would recommend. In general, the teacher breaks down the story into smaller components that she/he wants students to take in analysing the case. A series of questions should be prepared in advance to enhance this step. At this stage, Low, Middle and Higher order questions should be carefully designed for learning, such as ‘identify the constraints each character in the case’, ‘evaluate the decisions each character made and their implications’, ‘explain what you would have done differently and why’.

Step 3: Students learning through grouped-works of two to four for each group. The teacher monitors them to make sure everyone is involved. At this stage, the differentiated strategy should be applied. The teacher allows each group to work and concentrate on specific tasks. For example, group A works on answering for identifying ‘three potential courses of action and outline the pros and cons of each from a public relations standpoint’, group B might be charged with keeping the others on task and watching the time; group C’s role might be to question the assumptions or interpretations of the group and probe for deeper analysis; and so forth.

Step 4Productive and active Learning- All groups present their solutions /reasoning. Learning solutions are shared, discussed and collected / stored for meaningful and further learning.

Step 5: Reinforced learning – the teacher allows students to ask questions for clarification and to move discussion to higher level. Carnegie Melon University(2013) indicates that ‘one of the challenges for a case-based discussion leader is to guide the discussion and probe for deeper analysis without over-directing’.

Step 6Critical thinking and synthesizing issues adopted and raised. The teacher is to conduct and bring the various strands of the discussion back together at the end of the lesson to make sure all students have learned and understood the case study.

References: 
Board of Studies NSW (2010). Business Studies. Stage 6 Syllabus,pp4,5.

Carnegie Melon University(2013). Case Study. Retrieved 25 November 2013 from

Oxford University Press(2013). Definition of case study in English. Retrieved 19 October 2013 from http://www.oxforddictionaries.com/definition/english/case-study 

Stand Ford University(2013). Tomorrow's Professor Msg.#1013 Strengths and Limitations of Case Studies. Retrieved 18 October 2013 from  http://cgi.stanford.edu/~dept-ctl/tomprof/posting.php?ID=1013




Saturday, 5 December 2015

Typical one-clause sentences


Source of the text from the UTS Newsroom

The text below has typical one-clause sentences. 
THEME
Verb
NEW
The Australian Research Council's 2015 Excellence in Research for Australia (ERA) evaluation
has shown
the continued increasing quality and excellence of UTS’s research

Two-thirds of UTS research

is currently classified
as ‘above world standard’ (ERA ranking 4) or ‘well above world standard’ (ERA ranking 5)
“UTS

has increased
the number of areas classified as ‘well above world standard’, the highest assessment in the broad areas of chemical sciences, environmental sciences, agricultural, veterinary sciences and economics, statistics, macromolecular and materials chemistry, physical chemistry, genetics, biomedical engineering, human movement and sports science and nursing.”
The data
informs
the government’s strategic research investment decision-making process.

===
Notes: In most cases, verbs using within the typical one-clause sentences are relational in the NEW which expresses the most basic relationship of the identification of the THEME.
For example: 
THEME
Verb
NEW
Abortion 
is
the new civilian war dividing and killing America. 




Sunday, 22 November 2015

HSC Business Studies - Critical Path in Operations Processes


Back to SECTION I
[HSC stands for Higher School Certificate]

Critical Path technique

What is the Critical Path?

The critical path refers to the longest path through the strategy network. In a network diagram, the longest path from start to finish or the path without any slack, and therefore the path corresponding to the shortest time in which the project can be completed (Mosaic Project Service, 2014). This focuses on the route through the network that has only critical activities. It consists of those activities that determine the shortest time for project completion.

In addition, the Business Dictionary (2015) clearly defines that Critical path is 'the longest sequence of activities in a project plan which must be completed on time for the project to complete on due date. An activity on the critical path cannot be started until its predecessor activity is complete; if it is delayed for a day, the entire project will be delayed for a day unless the activity following the delayed activity is completed a day earlier.' 

In a similar view, Wikipedia (2015) states that the critical path method is to calculate 'the longest path of planned activities to logical end points or to the end of the project, AND the earliest and latest that each activity can start and finish without making the project longer.'

There are four main keys that project managers need to consider when implementing the critical path technique/strategy in operations processes:
1.     All activities/tasks involved.
2.     The time that each activity/task will take to complete
3.     The dependencies between the activities
4.     Logical end points [start points] of operations processes. (The relevant activities/tasks [keys 1,2,3  above] have reasonably and logically been arranged) 



Why does the Critical Path technique matter?
In the business world, understanding Critical Path helps the operating/project managers handle complex and time-sensitive operations of all tasks from the starting point to the finishing point of the project. In addition, a deeper understanding of Critical Path allows the project managers to identify the most important tasks in their project; therefore, they can employ suitable resources, costs and timescales that target towards the completion of the projects. 
In HSC Business Studies, the critical path is considered in the Operations Processes section (see the syllabus: the topic of Operations) where students are required to learn the 'dot point' of "transformation processes".  Regarding the critical path questions in the HSC examinations, knowing the technique of how to calculate the figure of dates helps students be confident and save time in their exams. 

The critical path appears in the HSC examinations - Section I : 2012 [Q14]; 2015 [Q13 & Q14], set by the Board of Studies, Teaching and Educational StandardsNSW (BOSTES). At the HSC level, see how to find the total days of the critical path in the HSC 2012 Business Studies exam paper.  


2012-Section I - Question

Answer: 
                                                                                                                                                                 
Scheduling - Explanation in details - for the learning space
 Task D is DEPENDENT on task B, therefore it cannot start until Task B is complete.
 Task H is DEPENDENT on task D, therefore it cannot start until Task D is complete.

 Task I is DEPENDENT on both tasks E and F, therefore it cannot start until both tasks E and F are complete.


At any starting point, if there are two or more simultaneous tasks, the LONGEST sequence or the HIGHEST figure is used as the earliest start time for the task approaching the critical path.

Additionally, the latest time at which any given activity must end, needs to be determined.

A flexible starting point for a task is called a 'float' point. Focusing on a task/activity, the float is the difference between the earliest task time, and the latest task time that this task/activity is permitted to start.         


If the task has no float, then this task is in the critical path. In the example above, the tasks A, C, G, and J are in the critical path. 


PRACTICE 

 At the HSC level, the Critical Path technique is illustrated in another example, referring  to the 2015 HSC Business Studies exam, as below.


  2015- Section I - Question
 Answer 
[Assume the project starts at A and finishes at D]



Monday, 16 November 2015

Our Traditional Day Event

Simple markers


Community Activities - 2015 The School Traditional Day party was organised, for the community Vietnamese language school (Bankstown campus), at this park. 

HSC-FINANCE: Teaching Strategy and Formative Assessment


HSC-FINANCE: Mapping syllabus outcomes against subtopics

HSC-FINANCEBusiness Studies. Syllabus’ Outcomes (BOSTES, 2013, pp 9-10- the student:

                                      H2 evaluates management strategies in response to changes in internal and external influences

                                      H3 discusses the social and ethical responsibilities of management

                                      H4 analyses business functions and processes in large and global businesses

                                      H5 explains management strategies and their impact on businesses

                                      H6 evaluates the effectiveness of management in the performance of businesses

                                      H7 plans and conducts investigations into contemporary business issues

                                      H8 organises and evaluates information for actual and hypothetical business situations

                                      H9 communicates business information, issues and concepts in appropriate formats

                                      H10 applies mathematical concepts appropriately in business situations


The following is a table of mapping the syllabus's outcomes against subtopics for every lesson in teaching and learning Finance within the HSC Business Studies course.

https://sites.google.com/site/lydialeutsbusinessstudies/the-lesson-page


Link to My Google site - HSC Finance

Sunday, 4 October 2015