Exam Technique
Paragraph Structure - Pete Beale The Taxi Driving Iguana Lover
Point
What applied point are you making that answers the exact question in some way
Because
Therefore
Explain the implications of the points and why it is significant to the question
True?
Is the point you made true in all circumstances? Very view points are.
Depends on..
What will determine whether or not the point is true
Likely?
Make mature judgements about the likelihood of a particular choice or outcome occurring remember little is certain but some things are more likely than others
In this case
In this case what is actually likely to happen
Most things depend one or more of SCORE ME PFC
Skills of workforce (high skill, low skill temps etc)
Competitors reactions
Operational Flexibility
Rate of change in the market
External factors
Managers skill/experience/management style
Employees reactions
Products and markets
Financial situation (includes gearing, acid test, cash flows and profit levels)
Customer reactions
Decision Tree Evaluation QVC REX (the online shopping bargain hound)
Quant/qual factors
(allows a quantitative decision to be made)
Validity
Of the probabilities and outcomes
Choices/options
(they can be highlighted and clarified)
Risk
(the option with the best expected value might still be considered too risky)
Remember
Try to evaluate in your arguments and your conclusions.
You must explain any evaluation point and apply it!
Do not over simplify multinational businesses as this will not appear mature
Don't describe big bits of the case/data analyse its significance.
General Ways of Evaluation V WET DRIP?
Validity
Of the data (not just who produced it [you are often told who] but is it for the exact same market product, is it out of date, does it really show what it seems to at first glance)
Weigh up
(the arguments in appear somewhat stronger given that x is likely to be the priority etc)
Extent
Size or scope of the problem. How long will it last? How muct have interest rates actually changed
True?
Why might this not be true see above (Avoid will , definitely and MASSIVE )
Depends on
see above apply to context
Run
Short run versus long run issues (do this now, but this later)
In this case
Apply to context what is happening/most important that is significant
Pick one
If the question is not 2 sided identify the most significant factor/biggest problem/benefit etc
? Question the question. 2 main ways of doing this.
1) Suggest that the firm does something different from that suggested (or indeed does something else first).
2) Identify key information (and be specific about what and why you need it) that is required before a full decision can be made.