Australian School of Business MBT Program Semester 2 2011

1. Australian School of Business MBT Program Semester 2 2011 Preparing for and Performing in Exams Presented by Dr Louise Fitzgerald

3. Acknowledgement I would like to acknowledge and thank the MBT Program staff and the course coordinators and facilitators in the program who have contributed their wisdom, expertise, experience and materials to this presentation. Dr Louise Fitzgerald Webinar presenter.

4. Webinar Overview Purpose of exams in MBT program Preparing for an exam Performing in an exam What is valued by examiners Question types Model topics, questions and responses – analysis of them Discussion and questions

5. 1 Purpose of exams All learning activities in MBT courses provide opportunities to consider theories, concepts and approaches, to analyse and critique them and to apply them to practical contexts and problems Exams require you to do these things under pressure, created by time limitations Exams are very good indicators of what you have learned and can do

6. Open book exams mainly test: Understanding of course material Ability to use and apply course material to: • Analyse situation or issue • Evaluate situation, theory or debate • Develop solutions to problems and/or make recommendations • Construct a persuasive argument, which synthesises course material and answers the question

7. 2 Preparing for exams involves Revising and understanding important content and skills, as for a closed book exam Preparing, organising your notes so that information, formulas can be referred to quickly and effectively during exam

8. The ‘big picture’ in a course Develop an appreciation and understanding of the main theories, themes, topics, issues Types of practice/ assessment activities and the knowledge and skills they develop What has been emphasised in course by your facilitator, course coordinator The relationships between units, topics, theories Learning outcomes for the course

9. Write up an overview, summary

10. A mind map (mindmapexample.com)

11. Strategies for preparing Review feedback/ marking criteria • How have you performed so far? • Suggestions for improvement from facilitator • Predict questions and types of questions • Past exams, materials provided • Practice answering questions • Under exam conditions • Seek feedback and self critique your responses

12. 3 Performing in Exams Use reading time to read exam paper carefully • Analyse questions: compulsory? Marks; type of answer • Brainstorm ideas; plan answers • Plan time and strategy • Allocate time for each question – be strict with this • Decide which questions to begin with. Start with easiest • Read questions carefully • Good responses are relevant to question • Interpret instructions and follow them

13. 4 What examiners are looking for Demonstrated knowledge and understanding of the course material Skills in analysis, critical reflection, written communication [Graduate Attributes, ASB, UNSW] Relevant answers to questions

14. Question types Multiple choice questions e.g., The type of processing which occurs when data is entered directly into a computer and processed immediately is called: (A) batch processing (B) on-line processing (C) immediate transaction processing (D) online ready time transaction processing Calculations e.g., Financial / Statistical calculations based on formulas Short answer questions E.g., What are business rules? Why are they important to a database designer? Essay questions E.g., to follow

15. Some tips about answering questions MCQuestions: Survey layout and check where/how answers are recorded Read all questions carefully. For each qn, form an answer before looking at options. Read each option before answering. Note how meaning is shaped by modifiers, such as always, never; comparatives e.g., more, same as, least; negatives, e.g., do not include; and double negatives, e.g., not unlikely (the latter has a positive meaning, i.e., it is likely)

16. short answer questions and calculations Short answer questions Analyse question and what it requires Answer concisely, i.e., directly to the point Clearly – setting out is an aspect of this Completely – provide all relevant details Calculations Selecting the right formula Set out working clearly Check work

17. Essay questions are designed to test your knowledge of theory and concepts from a course your application of knowledge to analysing and discussing specific real world business issues and practices Your ability to organise ideas and create a logical argument in a relevant response to a particular problem/question

18. Essay Requirements Analyse the question e.g, Discuss the selection, training and other policies likely to be relevant to the successful management of executives on international assignments. Task word – discuss is different to describe. Need to say why these policies are relevant, how they can best be implemented, advantages and disadvantages, compare different policies and evaluate them Content words – provide the topic. Essay must cover/ be relevant to these topics Limiting words – executives, on international assignments – provide focus or circumstantial aspects of topics in the question Essay structure –introduction (short: state topic, thesis and outline), body (main statement), conclusion (short) -Full sentences and paragraphs, avoiding bullet points -some courses will allow bullet points and less formal essay structure – check with your lecturer for specific requirements

19. Model Topics and Responses Sample question and critical response - written by Janis Wardrop, Course coordinator. Sample students texts assessed highly - with analysis

20. [from GBAT9125 Fund’ls of People Manag’t]Point: Organisational Cultures Can’t be Changed:An organisation's culture is made up of relatively stable[1] characteristics. It develops over many years and is rooted in deeply held values to which employees are strongly committed. In addition there are a number of forces continually operating to maintain a given culture (such as mission statements, design of physical spaces [2], myths and stories about the founders).Selection and promotion polices [3] are particularly important devices that work against cultural change. Employees choose an organisation because [4] they perceive their values to be a ‘good fit’ with the organisation.Attempts to change a culture by going outside the organisation to hire a new chief executive are unlikely to be effective[5]. The evidence indicates that the culture is more likely to change the executive than the other way around.Anything less than a crisis [6] unlikely to be effective in bringing about cultural change.

21. Counterpoint: Cultures can be changed – with effort! Changing an organisation's culture is extremely difficult, but culture can be changed. The evidence suggests that cultural change is most likely to take place when most or all of the following conditions exist: a dramatic crisis; turnover in leadership; young and small organisation; weak dominant culture [1]. The following actions may lead to change: new stories and rituals need to be set in place by top management[2]; employees should be selected and promoted [3]who espouse the new values; the reward system needs to be changed to sup[ort the new values [4]; and current subcultures need to be undermined through transfers, job rotation and terminations [5]. Under the best of conditions, these actions won’t result in an immediate or dramatic shift in the culture. This is because in the final analysis, cultural change is a lengthy process – measured in years rather than in months. But cultures can be changed! Adapted from Robbins, et al 2001

22. The essay question Critically evaluate these two different views of organisational culture using the concepts and materials you have encountered in the course to answer the question: Can an existing organisation ever successfully create a ‘new’ organisational culture?

23. A critical response to the first point This would only be the case if the culture was unitarist/imposed/non-organic. But org’ culture is organic, constantly evolving and changing as a result of contextual factors and people (unit 2) Schein’s pyramid ... Artifacts of culture Unit 9, maybe 10 Employees chooses where to apply but employers decide who works there This fits into the ‘organic’ type of model fo culture External environment This covers unit 7, unit 5 and unit 3

24. A critical response to the counterpoint This covers unit 7, unit 5, unit 3 and online discussions Artefacts Unit 9 Unit 11 Unit 8

25. Writing the answer Decide on the argument – ‘can an existing organisation ever successfully create a ‘new’ organisational culture? – yes, no, or maybe Need to support argument with evidence A credit level answer may simply provide support for argument A distinction level response is likely to consider evidence from both sides of argument

26. Pre-reading samples of successful student texts The question (paraphrased from Supply Chain Management GBAT9127): Discuss the causes of the bullwhip effect in supply chain management and to explain how particular strategies such as ‘safe harbour’,’ panic’ and rational decision making relate to the bullwhip effect in supply chain management. Both student texts were assessed as good responses, scoring above 80%.

27. Extract from Response 1 Safe harbor & panic human strategies. - order more than actually necessary to increase their safety stock. - raise higher capital & stock levels - forces suppliers to increase their orders or pay for stock out situations. - with only one level implementing the safe harbor strategy the whole supply chain is negatively impacted. - panic is the other extreme human behavior - empty the stock before the customers’ demand increases. Causes of the bullwhip effect are largely caused by human behavior. The more humans are presented in the beer distribution game, the higher the total supply chain costs are. Other causes of the bullwhip effect are: lack of information exchange (uncertainty with customer order and rate of stock being replenish). This decentralized the demand for information. The lead time of information and material are also key reasons for the bullwhip effect. Underestimating the value of information for customers & suppliers rises the lead time of information and exaggerates the effect of the bullwhip effect. Therefore humans act as obstacles for information flow in supply chains in practice and increase the lead time of information as a consequence of the bullwhip effect

28. Comments on Response 1 Demonstrates knowledge and understanding by: Comprehensive use of theory, technical/ specialist terms, e.g. Safe harbor, panic strategies, demand forecast updating, order batching, price fluctuations, rationing and shortage gaming defining, explaining theory, terms; elaborating on how theory works, applies to question Answers question in relevant way by: Relating aspects of theory logically, e.g. Layout, numbering Relating text to question, e.g, ‘causes of bullwhip effect are...’; ‘rational decision making causing bullwhip effect...’ Writes succinctly, note-form/ bullet points, incomplete sentences – and seems to be acceptable

29. Extract from Response 2 The bullwhip effect is caused by the change in the upstream supply generated by a small change in demand downstream in the supply chain. In other words, a small response to demand variables downstream, has the effect of creating a much magnified change upstream resulting usually, in significant overproduction. Forecasting is very often inaccurate. One of the 4 laws of forecasting is that it will be just that, and further, that the longer term the forecasting is developed for, the less accurate it will be. The bullwhip effect seems to happen in response to demand signaling going upstream & the natural, ‘rational’ reaction to this, being to adjust demand to meet this. However, the number of times that this adjustment is made further amplifies its effect. The lead times involved in the various stages of the supply chain also contribute to the effect of the bullwhip. The longer the lead times, the more significant the fluctuations are. Order cycles may even overlap & this creates an even greater surge in demand. Sales patterns contribute to this effect also. Sales quotas need to be met & may be achieved with price incentives and other inducements & this demand push is then signaled upstream. It appears rational for people to want to create some ‘safety stock’ when demand is experienced upstream this way. They do not want to let their customers down & they may decide in this case to produce extra just in case! Better more than less (obviously not the financial manager!) Other reasons for demand surge can be rationing of a very popular product which is in short supply. Customers may over order in hope to receive a reasonable proportion of the order. This demand is inaccurate but it is none the less the best information the manufacturer has & if responded to, continues to exacerbate the problem. ..

30. Comments on Response 2 Writing is more fluent – essay style, complete sentences; Text structure is more clearly developed – introduction answers question Answers question in a relevant way – information is introduced and developed as causes of the bullwhip effect – satisfying and reassuring for examiner Demonstrates knowledge and understanding, e.g. ‘demand downstream, upstream supply, forecasting, sales patterns, safe harbor, panic responses, rational, irrational human behaviour. All terms defined clearly; Not as extensive in use of theory as previous response

31. Example of less effective response The cause of the Bullwhip effect is the change in position from the supplier which is led by the information or order placement of the downstream supply chain. This is why businesses carry safety stock to smooth out this fluctuating area. The problem for suppliers is that it causes either excessive inventory or inefficient production and poor customer service levels. Despite having safety stock, stock outs can and do occur due to poor planning and forecasting, employed by partners in the supply channel. The problems associated with the Bullwhip are greatly enhanced the further up the supply chain you go. The effects are not only to the supply of the product but significantly effect the resources of the business. Result: 10/25

32. Why is this less effective? Too short – does not provide sufficient information to answer question Answer is not supported by theory, concepts Writer demonstrates understanding but response is too general Further ideas – how do you respond to this response? Why do you think the mark is so low?

33. References MBT and EDU, Preparing for Postgraduate Exams. MBT and School of Organisation and Management, Advice for preparing for examinations – tips for preparing for examinations, Previous MBT examination papers and student responses ASB Graduate Attributes, at: http://www.asb.unsw.edu.au/learningandteaching/aboutlearningandteaching/graduateattributes/Pages/default.aspx

34. Follow up Suggestions ASB EDU consultations/resources:http://www.asb.unsw.edu.au/learningandteaching/studentservices/Pages/default.aspxUNSW Learning Centre:http://www.lc.unsw.edu.au/olib.html#3if you are in Sydney individual consultations are available through the UNSW Learning Centrehttp://www.lc.unsw.edu.au/consult.htmlIf you would like to provide feedback or have any concerns, please contact MBT Student services :http://www.student.mbt.unsw.edu.au/ContactUs.html