In all your assignments, here are important examples of how to demonstrate the required competencies:
1. To demonstrate quantitative reasoning: Please Use EXCEL for all calculations. Show all your calculations, by using Excel formulas and functions to do all your calculations.If you simply use a financial calculator to get the answers, that does not show us your calculations. And if you simply type out the algebra, like: X = P(1 0.07)5 that does not show us your calculations either, because we have to actually perform the calculation of P(1 0.07)5 in order to check your results. Always use Excel to actually do the calculations, so that Excel will let us see the actual calculations in the viewing window.
2. To Demonstrate critical thinking:
Describe and justify each assumption you have made, Evaluate the information in a logical and organized manner to determine its value and relevance to the problem: Support your conclusions with evidence (such as facts and statistics from reliable sources, quotes from the readings, or a well-reasoned logical argument, or an example from your own experience)
Explain, support and justify every statement you make (for example: don't say "U.S. airlines are inefficient" because (a) it doesn't clarify what you mean by "inefficient" and (b) there is no way to prove that this statement is true or false. It would be better to say "Two of the five biggest U.S. airlines are in Chapter 11, and two more are regarded as weak by Forbes Magazine (issue of 8/12/05)"
Develop well reasoned ideas, conclusions, or decisions, checking them against relevant criteria and benchmarks. Always include a summary conclusion and explain what your work means for Management.
3. We are just as interested in HOW you got your answer (critical and quantitative reasoning) as in the answer itself. Your written communication must demonstrate how well you have grasped the key concepts and applied them to develop well reasoned conclusions or decisions:
If you give a right answer without support, we cannot tell if its just a lucky guess, or genuine understanding plus good analysis.
If you give a wrong answer without support, then we cannot track where you went wrong, and what it is that you do not understand. Then we have no way to guide and support you if you need a little assistance.
Please bear in mind that:
Analyses and conclusions are only as good as the data and assumptions that they are based on;
If you present conclusions or assumptions unsupported by reasoning and explanations, or if you fail to provide sources of the related data, a reader has no basis to accept your presentation as valid;
Without proper support, the reader is likely to disregard your analysis and/or conclusions;
So ALWAYS support all of your numbers or calculations with reasoning, clearly articulated explanations and be sure to provide sources for all of your data.