Problem-based approach:
1. Explore the issues
You have a problem to solve as shown in (http://uni.vijay.8ing.com/courses/2013/T3/FAHE11001/wiki/index.php?title=Group_Task_-_Financial_Scenario_Ratio)
Discuss the problem statement in your group and list its significant parts
You may feel that you don't know enough to solve the problem but that is the interesting challenge ahead of you!
Gather the information and learn new concepts, principles, or skills as you engage in the problem-solving process.
2. List “What do we know”?
Define the parameters of the problem.
Think in group “What do you know to solve the problem?” This includes both what you actually know and what strengths and capabilities each of your team members have.
Value and support the perspectives of all team members. Consider or note everyone's input, no matter how strange it may appear: it could hold a possibility!
Do not go for a quick fix. Take the opportunity to reflect and add ideas overnight to support those of you who are reflective learners.
Use the wiki (http://uni.vijay.8ing.com/courses/2013/T3/FAHE11001/wiki/index.php?title=Group_Task_-_Financial_Scenario_Ratio)
to work on the problem. Provide your ideas online. Review everyone’s ideas and consult as you progress towards a solution.
Discuss and distribute the tasks based on your individual strengths and skills.
You take ownership of the problem and derive a fantastic solution.
3. Develop and write out the problem statement in your own words
Ensure that your whole group understands the problem.
To craft a problem statement, have a
Written statement
The agreement of your group on the statement
Feedback on this statement from the teacher
Keep the problem statement on wiki so that you all can revisit and edit as new information is discovered or “old” information is discarded.
4. List out possible solutions
Brainstorm possible solutions
Allocate individual time to research different aspects of the problem
Pose a solution from different perspectives through which an amalgamated solution can be considered.
Research about the possible solutions and think about the limitations i.e. practicality, your team skills and time constraints
Keep a record of all your ideas so that you can continuously revisit and evaluate.
5. List actions to be taken with a timeline
Now think about acting on your solutions.
Make a “do-able” plan to work towards your solution
Analyse the solution and break down the solution into manageable tasks.
Create a sequence that supports working effectively towards the solution.
Make reasonable timelines to complete each task and ensure that everyone agrees on the timelines
Allocate specific tasks to individuals in the group to work more effectively based on individual strengths and limitations. Individuals will then report back to the group.
This approach is authentic, and is the way problems are addressed by organisations in real life.
6. List “What do we need to know?”
This is the time to look at resources you need to derive the solution and justify your recommendation. The resources could be financial ratios formulae digital cheat sheet, concept maps, industry standard ratios etc.
Think about the multimedia/multimodal resources to consult.
Collate your information together and keep it organised online, because your group is going to have to put it all together when you create your presentation.
7. Write up the solution and its supporting documentation and submit it
Prepare the best possible multimedia presentation that is appropriate for your audience.
At a minimum, your presentation should have
A clear statement of both the problem and your conclusion
Summarize the process you used, options considered, difficulties encountered and justify your decisions
Nominate someone from your group who is the expert in this area to present it clearly.
If you don't have answers raised by audience, it is important to acknowledge it and refer it for more consideration.
Ensure that your group’s learning process helps others learn, as you have learned.
8. Review performance
Learning is reflective. There will always be successes to celebrate, and changes to plan.
You reflect on your learning journey, the presentation process and the feedback you received from the audience that will support your learning, personal and academic growth.
You take pride in what you have done well; learn from what you have not done well.
You keep these reflections in your reflective blogs and plan to use these lessons in the future as “life is a continuous learning process”.
1. Explore the issues
You have a problem to solve as shown in (http://uni.vijay.8ing.com/courses/2013/T3/FAHE11001/wiki/index.php?title=Group_Task_-_Financial_Scenario_Ratio)
Discuss the problem statement in your group and list its significant parts
You may feel that you don't know enough to solve the problem but that is the interesting challenge ahead of you!
Gather the information and learn new concepts, principles, or skills as you engage in the problem-solving process.
2. List “What do we know”?
Define the parameters of the problem.
Think in group “What do you know to solve the problem?” This includes both what you actually know and what strengths and capabilities each of your team members have.
Value and support the perspectives of all team members. Consider or note everyone's input, no matter how strange it may appear: it could hold a possibility!
Do not go for a quick fix. Take the opportunity to reflect and add ideas overnight to support those of you who are reflective learners.
Use the wiki (http://uni.vijay.8ing.com/courses/2013/T3/FAHE11001/wiki/index.php?title=Group_Task_-_Financial_Scenario_Ratio)
to work on the problem. Provide your ideas online. Review everyone’s ideas and consult as you progress towards a solution.
Discuss and distribute the tasks based on your individual strengths and skills.
You take ownership of the problem and derive a fantastic solution.
3. Develop and write out the problem statement in your own words
Ensure that your whole group understands the problem.
To craft a problem statement, have a
Written statement
The agreement of your group on the statement
Feedback on this statement from the teacher
Keep the problem statement on wiki so that you all can revisit and edit as new information is discovered or “old” information is discarded.
4. List out possible solutions
Brainstorm possible solutions
Allocate individual time to research different aspects of the problem
Pose a solution from different perspectives through which an amalgamated solution can be considered.
Research about the possible solutions and think about the limitations i.e. practicality, your team skills and time constraints
Keep a record of all your ideas so that you can continuously revisit and evaluate.
5. List actions to be taken with a timeline
Now think about acting on your solutions.
Make a “do-able” plan to work towards your solution
Analyse the solution and break down the solution into manageable tasks.
Create a sequence that supports working effectively towards the solution.
Make reasonable timelines to complete each task and ensure that everyone agrees on the timelines
Allocate specific tasks to individuals in the group to work more effectively based on individual strengths and limitations. Individuals will then report back to the group.
This approach is authentic, and is the way problems are addressed by organisations in real life.
6. List “What do we need to know?”
This is the time to look at resources you need to derive the solution and justify your recommendation. The resources could be financial ratios formulae digital cheat sheet, concept maps, industry standard ratios etc.
Think about the multimedia/multimodal resources to consult.
Collate your information together and keep it organised online, because your group is going to have to put it all together when you create your presentation.
7. Write up the solution and its supporting documentation and submit it
Prepare the best possible multimedia presentation that is appropriate for your audience.
At a minimum, your presentation should have
A clear statement of both the problem and your conclusion
Summarize the process you used, options considered, difficulties encountered and justify your decisions
Nominate someone from your group who is the expert in this area to present it clearly.
If you don't have answers raised by audience, it is important to acknowledge it and refer it for more consideration.
Ensure that your group’s learning process helps others learn, as you have learned.
8. Review performance
Learning is reflective. There will always be successes to celebrate, and changes to plan.
You reflect on your learning journey, the presentation process and the feedback you received from the audience that will support your learning, personal and academic growth.
You take pride in what you have done well; learn from what you have not done well.
You keep these reflections in your reflective blogs and plan to use these lessons in the future as “life is a continuous learning process”.