cits slides

CITS

Creative & Innovative Thinking Skills

Creative & Innovative Thinking Principles

Session 1

Is there a difference amongst, Crea5ve Thinking, Innova5on and Crea5vity?

Bringing into existence an idea that is new to you. Crea5vity

The prac5cal applica5on of crea5ve ideas. Innova5on

An innate talent that you were born with and a set of skills that can be learned, developed, and u5lized in daily problem solving.

Crea5ve Thinking

Creativity

Are you creative? YES! Being creative doesnt mean being artistic.

The artist is not a different kind of person, but each one of us is a

different kind of artist. Eric Gill

What is Crea5vity?

Crea5vity is defined as the tendency to generate or recognize ideas, alterna5ves, or possibili5es that may be useful in solving problems, communica5ng with others, and entertaining ourselves and others.

Crea5ve solu5ons are more than ideas - they must work in the real world.

What is Crea5vity?

A crea5ve solu5on has three a2ributes: It is new (otherwise it would not be crea5ve).

It is useful, in that it solves the problem (otherwise it would not be a solu5on).

It is feasible, given the messy real world constraints like money and 5me.

Source: hMp://www.fpspi.org/pdf/innovcrea5vity.pdf

Crea5vity

Exper5se

Mo5va5on

Crea5ve Thinking Skills

Three Components of Crea5vity


Exper5se

Technical, procedural, and intellectual knowledge.

Source: hMp://www.fpspi.org/pdf/innovcrea5vity.pdf hMp://mo5va5onfactor.com/wp-content/uploads/2012/11/BoblerUS_jan13.png

Not all mo5va5on is created equal. An inner passion to solve the problem at hand leads

to solu5ons far more crea5ve than do external rewards, such as money. Intrinsic beMer than Extrinsic.

Innovation

Innovation is a new idea, device or process.

It can be viewed as the application of better solutions that meet new requirements, inarticulate needs, or existing market needs.

Types of Innova5on

Involves changing the way business is done in terms of capturing value e.g. HP vs. Dell, AA vs. MAS

Business Model Innova5on

Involves the implementa5on of a new or significantly improved produc5on or delivery method e.g. TPS

Process Innova5on

Involves the introduc5on of a new product that is new or substan5ally improvement e.g. smartphones

Product Innova-on

Similar to product innova5on except that the innova5on relates to services rather than to products e.g. Amazon

Service Innova-on

How do we innovate?

https://hbr.org/2014/11/to-encourage-innovation-make-it-a-competition

http://www.forbes.com/sites/netapp/

2014/09/08/innovate-like-disney/ The key word is CHALLENGE.


It determines how flexible and imagina5vely people approach

problems.

6 Principles of Crea5ve Thinking

Separate idea genera5on from evalua5on Test assump5ons Avoid paMerned thinking Create new perspec5ves Minimize nega5ve thinking Take prudent risk


Separate idea genera5on from evalua5on Postpone evalua5on as late as possible The best way to get ideas is to defer judgment


Test assump5ons What do you see in this picture?

We should test EVERYDAY ASSUMPTIONS

USE the 5Ws Who, What, Where, When, Why

6 Principles of Crea5ve Thinking Avoid paMerned thinking

Experiments: Fold your arms

Then do it the OTHER WAY

Fill in the Blank ___ANY Then fill this Blank ___ENY

Say JOKE 3 5mes aloud

Whats the white part of an egg?

This is called HABIT-BOUND THINKING

Need to break out of the habit and be crea5ve.

Familiarity is the handmaiden of habit.


Create new perspec5ves

When I have arranged a bouquet for the purpose of painting it. I always turn to the

side I did not plan. ~Renoir~

We cant see the forest for the trees.


Minimize nega5ve thinking Most of us are pre-programmed to say NO.

Experiment:

Take 3 mins and list out the nega5ve responses you can think of the last 5me someone asks you to solve a

problem.

Responses Thats not my problem Ive tried but I do not have enough 5me. There is too much work. I have other priori5es. Our system does not cater for

it. It is meant to be like that. I am not interested. Wait he will give us his

answers later. I am too lazy. I am too smart for this.

It will solve itself. I dont know. Wait, I will do it later. Can you give me the answer

instead? You have a beMer answer why

ask me? You can Google it why ask me? It is irrelevant. Lets wait and see. Shrugging your shoulders Roll eyes Silence

Now reverse it and try giving me a posi5ve answer instead!

5 mins starts now.


Take prudent risk

A failure is an opportunity to start over again, But more intelligently.

~ Henry Ford ~

You cant be a creative thinker unless you are a failure J

Which RISK is more serious?

Risk of genera5ng an idea or

Risk of implemen5ng.

Is a stupid idea worse than implemen5ng a bad idea?

To laugh is to risk appearing a fool. To place our ideas, our dreams, before a crowd is to risk their loss. To live is to risk dying. To hope is to risk despair. To try is to risk failure. Only a person who risks is free.


Separate idea genera5on from evalua5on Test assump5ons Avoid paMerned thinking Create new perspec5ves Minimize nega5ve thinking Take prudent risk

Innova5on Ac5vity

BaMle of the Sexes Brain SpliMer

How can you innovate on these items??

Credit card Ironing board and iron Pen Frying pan

Who am I?

What are your capabili5es? How do I perform?

Reader or Listener? How do I learn?

Doing or Talking? Where do I belong?

Find a fit or not to fit? What should I contribute?

Advising or Making Decisions? What are your most deeply held values?

What kind of person you want to see on your selfie? And in what type of work environment can you make the greatest contribu5on?

Who am I? The Felder and Solomon Learning Styles: hMp://www.engr.ncsu.edu/learningstyles/ilsweb.html

ACTIVE REFLECTIVE

SENSING INTUITIVE

VISUAL VERBAL

SEQUENTIAL GLOBAL

Who am I? The VARK system: hMp://www.vark-learn.com/english/page.asp?p=ques5onnaire

Mul5modal

Visual

Aural Read/Write

Kinesthe5c

Creative & Innovative Thinking in Practice 1

Session 2

Crea5ve Thinking Skills

Crea5ve thinking skills determine how flexible and imagina5vely people approach problems.

Crea5ve Thinking Tools

Brainstorming

Attribute Listing

Tools for Creating New Ideas

Effec5ve Team Dynamics Groups

Iden5ty Inclusion Interdependence Interac5vity

Teams Basic units of performance. Specific objec5ve to achieve. Can do beMer than individuals. Flexible and responsive to changing events and demands. Having a deep sense of commitment towards their goals,

growth and success.

Effec5ve Team Dynamics

Belbins 9 Roles

Cerebral Oriented Ac=on Oriented People Oriented Plant

Monitor Evaluator Specialist

Shaper Implementer Completer

Coordinator Teamworker

Resource Inves5gator

Effec5ve Team Dynamics

Brain-storming

Brainstorming

Brainstorming is probably the best-known crea5ve tool.

It can be used in most groups, although you will probably have to remind them of the rules.

It is best done using an independent facilitator who manages the process (so the group can focus on the crea5ve task).

Typically, an effec5ve session takes around 30 minutes to an hour.

Brain-storming

Brainstorming

Rules

No cri-cism or debate

Quan-ty over quality

Freewheel

Combine and improve

Brain-storming

Brainstorming

Brainstorming works when people use each other's ideas to trigger their own thinking.

Our minds are highly associa5ve, and one thought easily triggers another.

If we use the thoughts of others, then these will stop us geong trapped by our own thinking structures.

Brain-storming

Brainstorming

Focus on quantity Withhold criticism Welcome unusual ideas Combine and improve ideas

Now, you try: Why are you always late for class??

Attribute Listing

AMribute Lis5ng

Used when a situa5on can be decomposed into a2ributes.

Can be used for both products and services.

Highly ra=onal style.

Suitable for people who prefer analy=c approaches.

Good for differen=a=on situa=ons.

Attribute Listing

AMribute Lis5ng

Works as a decomposi5onal approach, breaking the problem down into smaller parts that can be examined individually.

All things have aMributes which are some5mes overlooked. By deliberately focusing on these, you can find new ways to be crea=ve.

Attribute Listing

AMribute Lis5ng

For each aMribute, ask 'what does this give'?

Seek the real value of each aMribute. It is also possible that aMributes have 'nega=ve value i.e.. they detract from the overall value of the object.

Finally look for ways in which you can modify the a2ributes in some way to increase value, decrease nega5ve value, or create new value.

Example: Pencil

Common attributes material, colour, weight, price,

quality, lead type

Try this out: Ball bearings

Let's say you work for a ball bearing manufacturer and you discover that a flaw in one of the machines has caused the production of 800 million slightly out-of-round ball bearings.

You could ask, "What can I do with 800 million slightly out-of-round ball bearings?

Kids marbles, decoration pieces....

Try this out: Ball bearings But you could also break the ball bearings down into

attributes, such as roundish, heavy, metal, smooth, shiny, hard, and magnetisable.

Then you could ask, "What can I do with 800 million heavy things?" or "What can I do with 800 million shiny things?

What can heavy things be used for? Paperweights, ship ballast, podium anchors, scale

weights What can be done with metal things? Conduct electricity, magnetize them, melt them, and

make tools with them.

Activity: Loopy Logo What to do: Describe what the business does. Come up with a slogan for the business

Stuck on a Deserted Island You have just washed up on a deserted island and

these words represent items that have also washed up.

Think of the most creative ways you could use these items to help you survive. 1. bottle 2. shoes 3. thermostat 4. piano 5. bicycle

Creative & Innovative Thinking in Practice 2

Session 3

Source: hMp://www.storyboardthat.com/userboards/greenferret/six-thinking-hats-example---product-design

Source: hMp://johnkapeleris.com/blog/?p=418

Problem Solving

Framework for Problem-Solving 1. Identifying and Defining the Problem (Problem Analysis)

- surveys, interviews, research, 5 whys, fishbone diagram 2. Gathering Information Related to the Problem

- same as above 3. Generating Alternatives

- brainstorming, 6 thinking hats, lateral thinking 4. Evaluating Alternatives

- SWOT, Delphi, Pareto, Cost-benefit Analysis 5. Selecting a Solution

- same as above 6. Implementing a Solution

- critical path diagram, project organization chart, gantt chart 7. Evaluating the Solution

- surveys, interviews, tracking sheets

What is Problem Analysis?

What is Problem Analysis? Example of a problem: Drugs!!

There are many views: 1. Young people lack the discipline and knowledge to make good

choices 2. Families/Upbringing 3. Community that do not care about the problem 4. Useless government 5. Useless law enforcement

Which is the root cause? Use problem analysis tools such as Five Whys & Fishbone Diagram

to find out.

Five Whys Jefferson Memorial in Washington, DC. Birds were pooping all over it, which made visiting the

place a very unpleasant experience. Attempts to remedy the situation caused even bigger

problems, since the harsh cleaning detergents being used were damaging the memorial.

Five Whys

Five Whys

A decision was made to wait until dark before turning the lights on at the Jefferson Memorial.

Problem solved. Without asking why, what are the solutions that may

have been attempted? 1. Hire more workers to clean the Memorial 2. Ask existing workers to work overtime 3. Experiment with different kinds of cleaning materials 4. Put bird poison all around the memorial 5. Hire hunters to shoot the birds 6. Move the Memorial 7. Close the site to the general public

Criticisms of Five Whys Tendency for investigators to stop at symptoms rather

than going on to lower-level root causes. Inability to go beyond the investigator's current

knowledge - cannot find causes that they do not already know.

Lack of support to help the investigator ask the right "why" questions.

Results are not repeatable - different people using 5 Whys come up with different causes for the same problem.

Tendency to isolate a single root cause, whereas each question could elicit many different root causes.

Fishbone/Ishikawa Diagram


Typical categories are: The 6 Ms (used in manufacturing industry) Machine (technology) Method (process) Material (Includes Raw Material, Consumables and

Information.) Man Power (physical work)/Mind Power (brain work) Measurement (Inspection) Mother Nature (Environment)

Fishbone/Ishikawa Diagram The 7 Ps (used in marketing industry) Product/Service Price Place Promotion People/personnel Process Physical Evidence

Fishbone/Ishikawa Diagram The 5 Ss (used in service industry) Surroundings Suppliers Systems Skills Safety


How to fill up the bones?

Brainstorming A group or individuals crea5vity technique by which efforts are made to find a conclusion for a specific problem by gathering a list of ideas spontaneously contributed by its member(s).

Lateral Thinking

Lateral Thinking Skills

Lateral thinking, is the ability to think crea=vely, or "outside the box" as it is some5mes referred to in business.

To use your inspira5on and imagina5on to solve problems by looking at them from unexpected perspec5ves.

Lateral thinking involves discarding the obvious, leaving behind tradi5onal modes of thought, and throwing away pre-concep5ons.

Source: hMp://www.kent.ac.uk/careers/sk/lateral.htm

Lateral Thinking Quiz

Lateral Thinking

Exercises

Four cars are stopped at a four-way intersec5on as illustrated. At the same 5me and at the same speed,

they all drive forward and con5nue their journeys without colliding.

How is this possible?

They turn LEFT forward!

A sneaky coin trader offers you nine coins.

They appear iden5cal but one is fake and slightly lighter than the others.

Using the balance, how can you isolate the fake coin in just two weighings?

1. Make 3 stacks of 3 coins. 2. Put 2 on the balance. 3. If one is lighter then it has the fake. 4. If scale is balanced means its in the third

stack. 5. Now we know which stack has the fake. 6. Put two coins from this stack with the fake

in the balance. 7. If scale is unbalanced. Then we know which

is the lighter one. 8. If scale is balanced, means third coin not

weighed, is the fake.

Your doctor prescribes a course of very expensive medicine. There are two boMles.

You must take one full tablet of A and half a tablet of B. You have taken one tablet each from each boMle.

Before snapping the B tablet in half, you accidentally mix the tablets up

Both tablets look iden5cal. How can you con5nue taking your medicine without

was5ng a single tablet?

1. Snap one of the tablets in half. 2. Put the two halves into two separate bowls. 3. Now snap the other tablet and add one half

to each bowl. 4. So each bowl contains half of A and half of

B. 5. Take another table from boMle A and snap

in half. 6. Add one half of this tablet A in each bowl. 7. Each bowl now has full dose of ( A + A + B)

Three friends contribute $10 each towards a $25 pizza. They give the delivery driver a $2 5p and get $1 change each.

But something weird has happened! Each friend contributed $10 totaling $30.

They received $1 change each so really paid $9 totaling $27. The driver has $2 bringing the total to $29.

Where is the missing dollar?

1. Total cost = 25 + 2 = 27 2. What they paid was (10 1) x 3 = 27 3. There is no missing dollar. 4. But what you read was 27 + 2. 5. Problem is the way they worded it.

One exit leads you home. You may ask only one

ques5on to choose an exit both agents will answer

What will you ask?

You are employees of a failing drinks manufacturing company - StokaCola.

Your jobs are on the line. New products are required which need branding in order to save the company. Some external consultants have been brought in to help the company but the

ideas, the market profiling and the manufacture and marketing of the products is up to the employees.

Genera5ng Ideas

How to Generate New Ideas

Breaking Thought Patterns Connect the Unconnected Shift Perspective Employ Enablers

Source: hMp://www.mindtools.com/pages/ar5cle/newCT_88.htm

Breaking Thought Patterns Challenge assumptions

You want to buy a house but can't since you assume you don't have the money to make a down payment on the loan. Challenge the assumption. Sure, you don't have cash in the bank but couldn't you sell some of your other assets to raise the money? Could you dip into your EPF? Could you find part-time work and earn the cash in six months?

Breaking Thought Patterns Reword the problem

In the mid 1950s, shipping companies were losing money on freighters. They decided they needed to focus on building faster and more efficient ships. However, the problem persisted. Then one consultant defined the problem differently. He said the problem the industry should consider was "how can we reduce cost?" The new problem statement generated new ideas. All aspects of shipping, including storage of cargo and loading time, were considered. The outcome of this shift in focus resulted in the container ship and the roll-on/roll-off freighter.

Breaking Thought Patterns Think in reverse (eg: anti virus)

Instead of focusing on how you could solve a problem/improve operations/enhance a product, consider how could you create the problem/worsen operations/downgrade the product.

Express yourself through different media

Try music, painting, building blocks, clay....

Connect the Unconnected

Use random input Choose a word from the dictionary and look for novel connections between the word and your problem

Mind map possible ideas

Put a key word or phrase in the middle of the page. Write whatever else comes in your mind on the same page. See if you can make any connections.

Connect the Unconnected Pick up a picture

Consider how you can relate it to your situation (eg: encyclopedia)

Take an item Ask yourself questions such as "How could this item help in addressing the challenge?", or "What attributes of this item could help us solve our challenge?"

Shift Perspective

Get someone else's perspective a nine-year old child, customers, suppliers, senior citizens, someone from a different culture; in essence anyone who might see things differently

Shift Perspective

Play the "If I were" game The idea is the person you decide to be has certain identifiable traits. And you have to use these traits to address the challenge. For instance, if you are Tiger Woods, you would focus on things such as perfection, persistence and execution detail.

Employ Enablers Belief in yourself

Believe that you are creative, believe that ideas will come to you; positive reinforcement helps you perform better.

Creative loafing time Nap, go for a walk, listen to music, play with your child, take a break from formal idea-generating. Your mind needs the rest, and will often come up with connections precisely when it isn't trying to make them.

Employ Enablers Change of environment:

Sometimes changing the setting changes your thought process. Go to a nearby coffee shop instead of the conference room in your office, or hold your discussion while walking together round a local park.

Shutting out distractions: Keep your thinking space both literally and mentally clutter-free. Shut off the Iphone, close the door, divert your phone calls and then think.

Employ Enablers Fun and humor:

Have fun!

Critical Thinking

Session 4

Is there a difference between Cri5cal Thinking and Crea5ve Thinking?

Cri5cal Thinking

An unexamined life is not worth living!

- Socrates -

Cri5cal Thinking

What is Cri5cal Thinking? Why think cri5cally? What are the characteris5cs of a Cri5cal Thinker?

What are the barriers to Cri5cal Thinking?

What is Cri5cal Thinking?

Does it mean you have to be nega5ve? Are skilled judgment and observa5on skills required?

A cri5cal thinker is one that has the cogni5ve skills and intellectual disposi5ons needed to effec5vely iden5fy, analyze and evaluate

arguments and truth claims.

Why think cri5cally?

Avoid bad personal decisions. Make informed poli5cal decisions. AMain personal enrichment. Behave morally. Evaluate your own beliefs and develop your belief set. Understand and evaluate the beliefs/posi5ons/arguments

of others. Ul5mately develop a belief system that corresponds to the

way the world is and leads to an ethical and meaningful life.

Cri5cal Thinking for OBU and ACCA For ACCA

Professional Level Most ques5ons require cri5cal analysis and wri5ng To gain the allocated marks, students need to be cri5cal Evaluate, assess, analyse means you need to be able to cri5cally apply the models learnt

For P1 you are expected to be able to exercise objec5vity and professional due competence.

For P3 you need to be able to cri5cally evaluate the scenarios and suggest solu5ons.

Both papers require ethical considera5ons and moral reasoning.

Cri5cal Thinking for OBU and ACCA

For OBU: Evalua5on of informa5on, analysis and conclusions: High level of cri5cal thought shown in the analysis and a rigorous approach to the evalua5on of informa5on.

Presenta5on of project findings: Can engage reader in a professional manner and produce a relevant and coherent project report with appropriate structure.

Most students who missed the A mark is because the work is lacking in cri5cal analysis.

The Cri5cal Thinker Strives for clarity and precision Sensi5ve to the discussed thinking errors Intellectually honest (admits ignorance and limits) Welcomes cri5cisms of beliefs; open to revising basic

beliefs Bases beliefs on facts, not on preference or interest. Thinks independently (doesnt let groups control their

beliefs). Values having true beliefs, not comfortable ones. Intellectual perseverance; will strive for truth even

when it is hard to do.

Cri5cal Thinking Standards

Clarity: Clarity in expression is a sign of intelligence.

Precision: Close aMen5on to detail Accuracy: Informa5on and beliefs are true Relevance: Restricts itself to the point in ques5on

Fairness: Open-minded, impar5al, non-biased


Consistency: Not contradic5ng Hypocrisy: Say and do things differently Irra5onality: Believe in two contradic5ng things.

Logical Correctness: Sound and valid reasoning

Completeness: Explores the issue and not done has5ly

Barriers to Cri5cal Thinking

Egocentrism The tendency to see reality as centered on oneself. Self-Interested Thinking: suppor5ng conclusions because they are

in your interest/to your benefit. Your wants and needs are not objec5vely more important than

anyone else's; they certainly dont determine truth. Cri5cal thinking is objec5ve.

Self-Serving Bias: the tendency to overrate oneself. Most people think they are above average; most people are

thus wrong. Cri5cal thinking requires one to be honest about their abili5es.


Sociocentrism Group centered thinking Group Bias: the tendency to see ones own group (e.g., na5on) as

being inherently beMer than all others. Conformism: allowing beliefs to be shaped by outside forces such

as: Groups (Aschs line experiment) Authority (Mailgram's shock experiment)


Unwarranted Assump=ons and Stereotypes Assump5on: a belief without absolute proof. Unwarranted Assump5on: a belief without good reason.

Stereotype: assuming that all people within a group (e.g., sex, race) share all the same quali5es; assuming that a par5cular individual that belongs to a group has certain quali5es simply because they belong to that group.

Hasty Generaliza5on (type of stereotype): drawing conclusions about a large group from a small sample.

Being aware of an unwarranted assump5on does not jus5fy it; but it is the first step in elimina5ng it.


Wishful Thinking Believing what you want to be true (without evidence or despite

evidence to the contrary). This error is quite common

Belief in gossip magazines headlines healing crystals quack cures bomoh, chinese temple communica5on with the dead it wont happen to me beliefs etc.


Rela=vis=c Thinking Rela5vism is the view that truth is a maMer of opinion. Popular because people agree that there is no objec5ve truth in

ethics. Subjec5vism: the view that truth is a maMer of individual opinion;

what one thinks is true is true for that person. Moral Subjec5vism: The view that what is morally right for

person A is what they think is morally right. Cultural Rela5vism: the view that what is true for person A is what

person As culture or society believes to be true. Cultural moral rela5vism: The view that what a culture thinks is

morally right to do, is morally right to do, in that culture.

Exercise

Rela5vist Thinking Assume you are a Cultural Relavist.

Case 1

You are studying culture A & B. B loves war, A is pacifis5c. Culture B conquers Culture A.

If you are a Cultural Relavist in Culture B the view that what is true for a person in Culture B is what the persons culture or society believes to be true.

Can you cri5cise B?

Case 2

You are a member of B and B thinks that pacifism is immoral and embraces enslaving other cultures and enslaves A.

No5ce that, since you belong to B, you cant cri5cize Bs moral values (their accep5ng it makes it right).

Also, you must think it immoral to be a pacifist and yet must also think that the pacifism of those in A is moral (since they approve of it).

That is a contradic5on.

Case 3 The majority in B deems infant sacrifice morally obligatory;

you belong to a minority in B that disagrees. B invades A and forces them to par5cipate in their prac5ces. No5ce that you must both accept and reject infant sacrifice

(you belong to two groups/cultures that have contradictory posi5ons).

No5ce that, with rela5vism, there can be no moral progress. Since there is no objec5ve truth there cannot be progress

to it. If B were to abolish infant sacrifice, they would not be doing

something beMer, but simply changing what is morally right in their culture.

Problems with cultural moral rela5vism:

Rela5vism makes it impossible for us to cri5cize other cultures, even though their customs and values seem to us to be wrong.

Rela5vism makes it impossible to cri5cize our own customs and values.

Rela5vism rule out the idea of moral progress. Rela5vism can lead to conflic5ng moral du5es.

More on Rela5vism The fact that it is hard to discover what is trueeven if it is

impossible to discover what is truedoes not mean that there is no truth or that truth is determined by opinion/consensus. We probably wont be able to discover whether or nor God exists; but

whether he does or not is not determined by opinion/consensus. Something is true if it accurately describes the way the world is; opinion

and consensus do not determine the way the world is, but something can accurately describe the world even if we cant prove that it does.

What an inability to discover the truth entails is that we should be more open-minded and intellectually humble. Given that we cant prove our beliefs true, we should be more open to cri5cally evalua5ng them and hearing the arguments of others.


Standards Clarity Precision Accuracy Relevance Fairness Logical Correctness Completeness

Barriers Egocentrism Sociocentrism Unwarranted Assump5ons

Wishful Thinking Rela5vist Thinking

Exercise Myths of Top 50 Chinese Businesses Are the premises given in line with the

8 Principles of Cri5cal Thinking?

Arguments

Session 5

What is an argument?

Statement: a claim or a sentence that can be viewed as either true or false.

Premises: a statement given in support of another statement.

The Conclusion: the statement that the premises support/prove.

Argument: group of statements, one or more of which is/are intended to prove or support another statement.

What is a statement? Examples:

Red is a color. (physical statement) Abor5on is morally wrong. (moral statement) The Matrix is a beMer movie than Titanic. (evalua5ve statement)

Non-Examples: Does a triangle have three sides? (ques5on) Close the window! (command) Oh, my goodness! (exclama5on)

Statement test: Does it make sense to put it is true that or it is false that in front of it? If so, it is a statement. If not, its not.

Exercise 1: Recognising statements.

Recognizing Statements 1. What 5me is the concert tonight? 2. My feet are sore. 3. Cowabunga, dude! 4. Why is man less durable than the works of his hand, but

because this is not the place of his rest? (William Penn) 5. Harrisburg is the capital of Pennsylvania. 6. Give me a call if you have trouble downloading the file. 7. You'd beMer quit while you're ahead. 8. Sign : Keep off the grass. 9. How unfair! 10. Salt Lake City is a city in Mexico.

Indicators of Premises

Premise indicators Because In view of the fact Given that Seeing that As Due to the fact that Being that

Assuming that For the reason that Inasmuch as As indicated by For The reason being

Indicators of Conclusions

Conclusion indicators Therefore Thus Which implies that Consequently It follows that We can conclude that

So hence It must be that As a result Which means that Ergo

Examples of Arguments The Wall Street Journal says that people should invest heavily

in stocks. Therefore, inves5ng in stocks is a smart move. When Judy drives her car, shes always late. Since she is

driving her car now, she will be late. Because banning assault riffles violates cons5tu5onal rights,

the US government should not ban assault riffles. The war on terrorism must include a massive military strike

on na5on X because without this interven5on, terrorists cannot be defeated. They will always be able to find safe haven and support in the X regime. Even if terrorists are scaMered around the world, support from na5on X will increase their chances of surviving and launching new aMacks.

Exercise 2: Iden5fying Premises and Conclusions

Recognising Premises and Conclusions

(1) You have said that you love me and that you cant imagine spending the rest of your life without me. (2)

Once, you even tried to propose to me. (3) And now you claim that you need 5me to think about whether we

should be married. (4) Well, everything that youve told me regarding our rela5onship has been a lie. (5) In some of your leMers to a friend you admiMed that you were

misleading me. (6) Youve been telling everyone that we are just friends, not lovers. (7) And worst of all, youve been secretly da5ng someone else. (8) Why are you doing this? (9) Its all been a farce, and Im ouMa here.

What are not arguments?

Reports - Oil prices dropped today, thus so did gas prices. Unsupported asser5ons - People arent afraid of dying; they are

afraid of not living.

Illustra5ons - Many wildflowers are edible. For example, daises and day lilies are delicious in salads.

Explana5ons Titanic sank because it struck an iceberg. (explana5on) Capital Punishment is wrong because it is murder. (argument)

Condi5onal statements If profits go up then its a good decision to invest

What are good arguments?

In evalua5ng/construc5ng any argument, one should always ask two key ques5ons: Are the premises true? Do the premises provide good reasons to accept the conclusion?

*note: arguments, as we shall use it in this class, does not mean disagreements.

Deduc5on vs. Induc5on Deduc5ve Arguments try to prove their conclusions with

rigorous, inescapable logic. Example: All humans are mortal. Socrates is a human. Therefore, Socrates is mortal.

Induc5ve Arguments try to show that their conclusion are plausible (likely or probable), given their premises: So far, every class, the professor has worn a 5e. Therefore, next class, the professor will wear a 5e.

Difference between Deduc5ve and Induc5ve Arguments

Indicator Words: Deduc5ve: certainly, definitely, this entails that, conclusively

Induc5ve: probably, likely, one would expect, odds are, reasonable to assume Like before, indicators are not perfect. They are not always present, and they can some=mes be misleading. (e.g., The speaker may say it certainly follows but be exaggera=ng, knowing that it only probably follows.)

Validity of Deduc5ve Arguments

Do the reasons support the conclusion? Valid arguments

Premises support the conclusion so that the conclusion follows from the reasons offered.

Invalid arguments Premises do not support the conclusion so that the conclusion does not follow from the reasons offered.


Premise: Anything that is a threat to health should not be legal.

Premise: Heroin is a threat to our health. Conclusion: Therefore, heroin should not be legal.

Is this argument Valid?


Premise: Mr X believes that it is vital for our na5onal security that we develop alterna5ves sources of energy.

Premise: Mr X is the president of our country. Conclusion: Therefore, we should develop alterna5ve sources of energy.

Is this argument Valid?

Syllogisms

An argument form that consists of two suppor5ng premises and a conclusion Premise: All men are mortal. Premise: Socrates is a man. Conclusion: Therefore, Socrates is mortal.

This is a Valid Argument.

Syllogisms

B Mortal

A Men

S Socrates

Common PaMerns of Deduc5ve Reasoning

Hypothe5cal Syllogism modus ponens, modus tollens, chain argument, denying the antecedent, affirming the consequent

Categorical Syllogism Argument by Elimina5on Argument Based on Mathema5cs. Argument from Defini5on

Modus Ponens

If A then B. A. Therefore, B

If I want to keep my financial aid, Id beMer study hard.

I do want to keep my financial aid. Therefore, Id beMer study hard.

Modus Tollens

If A then B. Not B. Therefore, not A

If were in Ipoh, then were in Perak. We are not in Perak. Therefore we are not in Ipoh.

Chain Argument

If A then B. B, then C. Therefore, if A then C.

If we dont stop for gas, we will run out of gas. If we run out of gas, we will be late for the trip. Therefore, if we dont stop for gas soon, we will be late for the trip.

Denying the Antecedent

If A then B. Not A. Therefore, not B.

If Shakespeare wrote the War and Peace, then he is a great writer.

Shakespeare did not write the War and Peace. Therefore Shakespeare is not a great writer.

Affirming the Consequent

If A then B. B. Therefore, A.

If were in Pluto, then we are in the solar system.

We are in the solar system. Therefore we are on Pluto.

Categorical Syllogism

All oaks are trees. All trees are plants. So, all oaks are plants.

Argument by Elimina5on

Either Joe walked to the library or he drove. But Joe did not drive to the library. Therefore, Joe walked to the library.

Argument based on Mathema5cs

8 is greater than 4. 4 is greater than 2. Therefore, eight is greater than 2.

There are four apples on the table. I have eaten three. Therefore, one apple is le on the table.

Argument from Defini5on

Janet is a cardiologist. Therefore Janet is a doctor.

Salma is an aunt. Therefore Salma is a woman.

Deduc5ve Validity A valid deduc5ve argument is an argument in which it is

impossible for all the premises to be true and the conclusion false. In other words: If the premises are true, the conclusion must be true. The conclusion follows necessarily from the premises. The premises provide logically conclusive grounds for the truth of the

premises. The truth of the premises would guarantee the truth of the

conclusion. It is logically inconsistent to assert all the premises but deny the

conclusion. It is impossible for the premises to be true and the conclusion to be

false.

The following arguments are deduc5ve. Determine whether the arguments are

valid or invalid.

If Flipper is a dolphin, then Flipper is a mammal.

Flipper is a dolphin. So, Flipper is a mammal.

If Bigfoot is human, then Bigfoot has a heart.

Bigfoot is not human. So, Bigfoot doesnt have a heart.

Your mother cant be a professional race car driver.

Only men are professional race car drivers, and your mother, obviously, is

not a man.

Frank: Im going to bring my cell phone with me when I take the logic test tomorrow. Whenever I dont know the answer, Ill just call my roommate, Ted. He aced Logic last semester. Maria: Are you crazy? Professor Hardy will never allow you to cheat like that. Frank: Sure he will. I dis5nctly heard him say, No notes or books are allowed during the test, and phone calls, my friend, qualify as neither. Its simple logic. No notes or books may be used during the test; phone calls arent notes or books; so they are allowed. Maria: Clearly, youre going to need all the help you can get.

Deduc5ve Soundness

An argument is sound if and only if it is valid and has all true premises. If that is the case, you are forced to accept the conclusion.

If an argument is valid, but has a false premise, we say that it is a deduc5vely unsound argument.

Since all induc5ve arguments are invalid (their premises dont guarantee their conclusion), all induc5ve arguments are unsound.

Soundness of Deduc5ve Arguments

Deduc5ve Arguments

Valid Invalid

Sound Unsound

The following arguments are deduc5ve.

Determine whether the arguments are sound or unsound.

If Bill Gates is a billionaire, then hes rich.

Bill Gates is rich. So, hes a billionaire.

If the PM plays for the Harimau Malaya, then he is a professional

football player. The PM doesnt play for the Harimau Malaya. So the PM is not a professional football player.

Halloween is always on a Friday. Therefore, the day aer Halloween

is always a Saturday.

Common PaMerns of Induc5ve Reasoning

Induc5ve generaliza5on Predic5ve argument Argument from authority Causal Argument Sta5s5cal Argument Argument from Analogy

Generaliza5on

Men are so unroman5c.

Most college students work at least some part-5me.

Most students are below the age of 25.

Induc5ve Generaliza5on

Six months ago I met a farmer from Kuantan and he was friendly.

Four months ago I met a friend from Kuantan and he was friendly.

Two months ago I met a den5st from Kuantan and he was friendly.

I guess most people from Kuantan are friendly.

Predic5ve Argument

Most US presidents have been tall. Therefore, probably the next US president will be tall.

Predic5ons are not certain therefore they are mostly induc5ve.

Argument from Authority

There are snakes in the river. Two of my friends saw one last week.

More Malaysians die of disease related to unhealthy lifestyles, like diabetes and heart disease.

My doctor from IJN told me so.

Causal Argument

I cant log on. The network must be down.

Sta5s5cal Argument

80% of students passed the exam. The lecturer that teaches the paper is probably good.

Argument from Analogy

Habits are like a cable. We weave a strand of it every day and soon it cannot

be broken.

Jeff is from Sunway and he did well in ACCA. Stella is from Sunway and he also did well in ACCA. Tim is from Sunway and he did well in ACCA as well. Dumb Dumb is from Sunway therefore most likely, he

is also going to do well in ACCA.

Induc5ve Strength Strong induc5ve argument: an induc5ve argument the

premises of which, if true, make the conclusion likely or probable. i.e.,: If the premises are true, the conclusion is probably true. The premises provide probable, but not logically conclusive grounds

for the truth of the conclusion. Common form:

Most bs are p. X is a b. Therefore, (probably) X is p.

Example: All recent presidents have been college grads. Therefore the next president will be a college grad.

Cogency

Even if an argument is induc5vely strong, it can s5ll have a false premise and be a bad argument.

Eg: All previous US presidents have worn purple wigs. Therefore, probably the next US president will wear a

purple wig Cogent argument: induc5vely strong argument with true

premises. Uncogent argument: induc5ve argument that is either

weak, has false premises, or both.

The following arguments are induc5ve. Determine whether the arguments are cogent or uncogent.

It tends to be cold in Alaska in January. So, probably it will be cold

in Alaska next January.

In poker, its OK to lie and deceive. Business is like poker.

Therefore, in business its OK to lie and deceive.

Harvard University has been a leading American university for

many years. Therefore, probably Harvard University will be a leading

American University ten years from now.

John F. Kennedy was a Democra5c president,

and he cheated on his wife. Bill Clinton was a

Democra5c president, and he cheated on his wife.

I suppose all Democra5c presidents have cheated on their wives.

Cogency of Induc5ve Arguments

Induc5ve Arguments

Strong Weak

Cogent Uncogent

Example:

Airline company in US diversified into the hotel industry in 2014.

Was the decision to diversify

advantageous to the company?

2013 2014 Profit $1 mil $2 mil The hotel received best employer award in 2014. 1) State posi5on (Conclusion): Yes 2) Premise 1: Analyse data:- Deduc5ve argument do the math 3) Premise 2: Induc5ve argument (IA) - The U.S. hotel industry is

booming, more so than anywhere else in the world, and many in the industry say they expect the good 5mes to keep rolling for a few more years un5l supply catches up with demand. (Hobbs & Toscano, CNBC)

4) Premise 3: IA This is a form of forward integra5on. More profits can be generated, as the company already has the customer base to tap into. Also, would be able to control the quality/total experience associated with the brand.

5) Premise 4: IA -The hotel received award, obviously is doing something right, should con5nue and maybe expand.

Wri5ng Argumenta5ve Essays

Wri5ng Argumenta5ve Essays Good argumenta5ve essays contain the following elements:

Introduc5on Statement of thesis (the claim to be supported) Argument suppor5ng the thesis Assessment of objec5ons Conclusion

Wri5ng Argumenta5ve Essays Introduc=on

Grab the readers aMen5on Provide background of the thesis Include sta5s5cs, compelling quota5ons, opinions of experts, shocking or unexpected claims

Thesis Statement The conclusion of the argument that you intend to present.

Be precise Tui5on is too high vs Tui5on increases for year 2012 at XYZ University is unnecessary for financial reasons.

Wri5ng Argumenta5ve Essays Arguments suppor=ng the thesis

Thesis statement supported by premises that are Clearly stated Sufficiently explained and illustrated Supported by examples and sta5s5cs Expert opinion and other opinions.

Tip: one paragraph for one premise.

Wri5ng Argumenta5ve Essays Arguments suppor=ng the thesis.

Premises If the university has a budget surplus, then a tui5on increase is unnecessary.

The university has had a budget surplus of RM2million every year for the past 5 years.

The university chancellor in an interview on 31 Jan 2010 said that the university has good financial health.

Thesis statement: Therefore, the tui5on increases for year 2012 at XYZ University is unnecessary for financial reasons.

Wri5ng Argumenta5ve Essays Assessment of objec=ons

Necessary to show honest effort to take into account any objec5ons that readers are likely to raise.

Lends credibility as you are being objec5ve and fair. Consider the strongest objec5ons or the most common one.

Wri5ng Argumenta5ve Essays Conclusions

Reiterates the thesis statement. Contains the summary of the argument. Challenges readers to do something about the problem.

The threat of entry is mixed for the automo5ve industry of Malaysia around year 2005. The threat of entry was first low as the barriers of entry were high, because: The need to invest large amounts of financial resources to uphold high fixed costs in car manufacturing and to undergo several months of stringent tes5ng and cer5fica5on in order for the car to be on the road (Whitaker, 2008). In automobiles, it is generally reckoned organisa5ons should be a low-cost producer. Therefore organisa5ons have to enter on a large scale. Running on a small scale will not achieve economies of scale benefits (Grant, 2005). However, it has become moderate now as barrier of entry is lower, because: The protec5on by the Malaysia Government on na5onal automakers through the Na5onal Automo5ve Policy (NAP) has been slowly negated by the ASEAN Free Trade Agreement signed in year 2006. A new NAP was issued on gradual reduc5on of import tariffs, which have reduced the protec5ons for na5onal cars. Refer Appendix 2. Therefore the barriers of entry for the car industry in Malaysia is high but it would eventually be reduced as the new ASEAN agreements are established.

Use of Language Precision

Being exact and accurate Without precision, one cannot be correctly understood. Lack of understanding or misunderstanding hinders discussion, dialogue, and debate.

In fact, misunderstandings are quite oen the causes of disagreements.

Use of Language Lack of Precision

Vagueness Borderline cases Meaning is inexact

Overgenerality Too general; too many things fit the descrip5on of the answer and thus the answer is not useful.

Ambiguity A word is ambiguous when it has more than one common defini5on.

Seman5c Ambigui5es or Syntac5cal Ambigui5es

Iden5fy problems of vagueness, overgenerality, and ambiguity in the

following passages.

College harassment policy: Harassment includes language to physical acts which degrades, insults, taunts, or challenges

another person by any means of communica5on, verbal, so as to provoke a violent response, communica5on of threat, defama5on of character, use of profanity, verbal assaults, derogatory comments or

remarks, sexist remarks, racist remarks or any behaviour that places another member of the University community in a state of fear or

anxiety. (From a student handbook (quote is verba5m))

Weather forecast: Cloudy with a chance of rain.

With her enormous boMom exposed to the sky, Ellen watched Titanic slowly sink.

Bri5sh Prime Minister Benjamin Disreali had a standard acknowledgement for people who sent him unsolicited manuscripts for his opinion: Thank you for the manuscript; I

shall lose no 5me in reading it.

Pablo: Who won the long jump at the track meet? Ollie: The guy who jumped the farthest.

Exercise 4: Vagueness, Ambiguity, and Overgenerality

Soundness of Deduc5ve Arguments

Deduc5ve Arguments

Valid Invalid

Sound Unsound

Cogency of Induc5ve Arguments

Induc5ve Arguments

Strong Weak

Cogent Uncogent

Introduction to Research Methods and IT Skills

Session 6

What is the difference between a degree and a professional

programme?

How do you bridge the Gap?

Data Process Informa5on

Informa5on should be

Accurate Complete Cost Beneficial User Targeted Relevant Authorita5ve Timely Easy to use

Types of Data Research

Primary sources Original materials available in document or digital format Examples of which are interview statements and surveys, face to face interview, telephone interview, internet communica5on through email, conduct a survey on specific popula5on, video or recordings and others

Secondary sources Interpreta5ons and evalua5ons of primary sources. Examples: cri5cisms, commentaries, dic5onaries, histories, web site, newspaper ar5cles, journal ar5cles, magazines, textbooks and others

The OBU Research Project PART 1 - Project objec=ves and overall research approach approx. 1,000 words The first part of your Research Report 'sets the scene' It should include the following:

The reasons for choosing your project topic area and choosing the par5cular organisa5on that was the focus of your research work

What you wanted to find out in your research work. i.e. your project objec5ves and research ques5ons

An explana5on of your overall research approach. This should provide the reader with an understanding of the overall framework that you developed to meet your project objec5ves and answer your research ques5ons.

The OBU Research Project PART 2 - Informa=on gathering and accoun=ng / business

techniques approx. 2,000 words The second part of your Research Report should provide more

detail about (i) the informa5on that you have gathered and (ii) the accoun5ng and business techniques you have chosen to apply to this informa5on. It should include the following:

The sources of informa5on from which you have obtained relevant data

A descrip5on of the methods used to collect informa5on, including online access

A discussion of the limita5ons of your informa5on gathering Iden5fica5on of any ethical issues that arose during your informa5on gathering and how they were resolved

An explana5on of the accoun5ng and / or business techniques you have used, including a discussion of their limita5ons.

The OBU Research Project PART 3 - Results, analysis, conclusions and

recommenda=ons approx. 4,500 words The third part of your Research Report should provide a

detailed account of what you have found from the applica5on of your chosen accoun5ng and business techniques to the informa5on that you have gathered. It should include:

A descrip5on of the results you have obtained and any limita5ons Presenta5on of your results in an appropriate form e.g. tables, graphs, pie charts

A cri5cal analysis / evalua5on of your results which includes an explana5on of your significant findings

Your conclusions about your research findings and how well you have met your project objec5ves and research ques5ons

If appropriate, recommenda5ons on specific courses of ac5on to iden5fied individuals within your chosen organisa5on.

Referencing A reference is an acknowledgement of the source of

informa5on that you have used in your research. In the academic world, it is considered good manners, a sort

of scholarly politeness. Acknowledge other peoples ideas Allow the reader of your work to locate the cited references

easily, and so evaluate your interpreta5on of those ideas Avoid plagiarism (i.e. taking other peoples thoughts, ideas or

wri5ngs and using them as though they are your own) Show evidence of the breadth and depth of your reading

In-text Referencing Direct Quota=ons

This is when you copy another authors material word-for-word. You should show the reader that it is a direct quote by placing the material in inverted commas. Tradi5onally, double inverted commas have been used () but it is now acceptable, and preferable to use single inverted commas ().

Chandran (2011) suggests that each year some have es5mated the cost to the country of poor literacy and numeracy skills to be as 10 billion.

In-text Referencing Paraphrasing

This is when you take another authors ideas and put them into your own words. You are s5ll copying someone elses work, so you must reference it. You do not need to use inverted commas when you paraphrase, but you must clearly show the reader the original source of your informa5on.

The effect of low levels of adult numeracy and literacy skills could be cos5ng Britain around 10 billion each year (Chandran, 2011).

Referencing List In text referencing:

By understanding where power lies, the theory can also be used to iden5fy areas of strength, to improve weaknesses and to avoid mistakes (CIMA, 2007).

List of reference (at the end of the Research Project): CIMA (2007). Strategic Analysis Tools. UK: London. [Online]. Retrieved from: www.cimaglobal.com [Accessed on 12 January 2012] - Alphabe5cal Order

Bibliography Bibliography:

It is lis5ng all the materials that have been consulted/ read while wri5ng an essay or a book.

List of Reference: References, on the other hand, are those that have been included in your research project.

How to Reference?

Source: hMp://libweb.anglia.ac.uk/referencing/harvard.htm

The use of Microso Word to Reference.

Source: hMps://www.youtube.com/watch?v=19-E1OCdvbY

Turni5n

Plagiarism Check

Types of Plagiarism

hMp://turni5n.com/assets/en_us/media/plagiarism_spectrum.php

Web Tools for Research

Thinking as an accountant at the strategic level

Session 7

The scope of marke5ng Defini=on of Marke=ng

The management process responsible for iden5fying, an5cipa5ng and sa5sfying customer requirements profitably.

Marke=ng Ac=vi=es 1. Market Research 2. Market Segmenta5on 3. Decide on Target Market 4. Product Posi5oning Perceived Quality vs Price by customers 5. Design of the Marke5ng Mix (4Ps + 3Ps)

Product Price Place Promo5on People, Process , Physical Evidence

Applica5on of strategic theory using thinking skills 1

Session 8

Cri5cal Success Factors

Using Strategic Models cri5cally evaluate the CSF of the following companies Burberry Britannica Encyclopedia Prada Novar5s

Cri5cal Success Factors

Using Strategic Models cri5cally evaluate the the marke5ng strategies of the following companies Soda Stream UnderArmour

Applica5on of strategic theory using thinking skills 2

Session 9

Strategic Op5ons

Using Strategic Models cri5cally evaluate the op5ons that were implemented by the following companies in Malaysia AirAsia McDonalds Sunway TES Perodua Malaysia

Applica5on of data analy5cs in thinking skills

Session 10

Data Analysis

Typical data analysis The financial posi5on of an organisa5on The performance of a business The use of resources: efficiency, economy, effec5veness

Product or market posi5oning Risks Financial impact of projects on company Overall impact of strategy on businesses Opera5onal and resource data over 5me.

Data Analysis

Skills required Choosing the right analy5cal tool

BCG, KPIs, breakeven, financial ra5os Carrying out the relevant calcula5ons Interpre5ng results Exercising judgement to draw conclusions and produce sensible recommenda5ons

Looking beyond what we have Analysing trends Highligh5ng weaknesses or omissions

Data Analysis

Common Problems Resta5ng facts without applying them.

Should be WHY and not WHAT. Use the BECAUSE rule.

Generic answers that are not specific to the issue Be organisa5on and problem specific.

Interpre5ng figures/results in isola5on Should link the figures and results

Data Analysis

Common Problems Focused on narrow range of measures

Should use the balance scorecard not just financial. Failure to use numerical analysis elsewhere

Consider where else can your numbers talk Make good use of your data analysis.

Not clear of the cause and effect The rela5onships between variables have to be clear and evident.

Data Analysis

Considera5ons Informa5on obtained may be aggregated.

More detailed informa5on may be required and is this available? Source of informa5on can be both internal and external.

Benchmarking: Comparisons may be made between Current results vs past results One business unit vs another Industry/ sector informa5on Market leader or compe5tor

Remember to state your assump5ons and limita5ons.

Data Analysis with Cri5cal Thinking Standards

The organisa5on has performed badly.

The organisa5on has performed badly because its profit margin is

not good.

The organisa5on has performed badly because its profit margin has deteriorated from 20% to 15%.

The organisa5on has performed badly because its profit margin has deteriorated from 20% to 15%

since 2013.


since 2013. This is caused by bad business.


since 2013. This is caused by decreasing

revenues.


since 2013. This is caused by decreasing revenues by

10%.

The organisa5on has performed badly because its profit margin has deteriorated

from 20% to 15% since 2013. This is caused by decreasing revenues by

10%. The revenues dropped because of increase in

prices by 10%.

The organisa5on has performed badly because its profit margin has deteriorated

from 20% to 15% since 2013. This is caused by decreasing revenues by

10%. The revenues dropped because of increase in prices by 10% causing the quan5ty demanded

to drop by 30%.

The organisa5on has performed badly because its profit margin has deteriorated from 20% to

15% since 2013. This is caused by decreasing revenues by 10%. The revenues dropped because of increase in

prices by 10% causing the quan5ty demanded to drop by 30%, as the market is price elas5c.


since 2013. This is caused by decreasing revenues by 10%.

The revenues dropped because of increase in prices by 10% causing the quan5ty demanded to drop by

30%, as the market is price elas5c. This is further compounded by an increase in costs

by more than 10%.




30%, as the market is price elas5c. This is further compounded by an increase in costs by more than 10%, contributed mainly by increase

in raw material prices by 40%.




30%, as the market is price elas5c. This is further compounded by an increase in costs by more than 10%, contributed mainly by increase in raw material prices by 10%, which makes up 67%

of the total costs.




30%, as the market is price elas5c. This is further compounded by an increase in costs by more than 10%, contributed mainly by increase in raw raw materials quan5ty by 10% and prices

which makes up 67% of the total costs; reason being higher bargaining power of suppliers.

So what?

Reduce Prices? Find new suppliers?



The revenues dropped because of increase in prices by 10% causing the quan=ty demanded to drop by

30%, as the market is price elas=c. This is further compounded by an increase in costs by more than 10%, contributed mainly by increase in raw materials which makes up 67% of the total costs; reason being higher bargaining power of

suppliers.

Applica5on of thinking skills in ethics

Session 11

Cri5cal Thinking

The means by which we live have outdistanced the ends for which we live.

Our scientific power has outrun our spiritual power. We have guided missiles and

misguided men. - Martin Luther King, Jr. -

Ethical Considera5ons

ACCA Ethical Principles Integrity Objec5vity Professional Competence and Due Care Professional Behaviour Confiden5ality


Threat to Professional Principles Self-Interest Self Review Advocacy Familiarity In5mida5on

Ethical Considera5ons General Ethical Principles

Deontology Behaviour should be based on absolute moral rules

Absolu=sm There is only one set of ethical principles that apply in all situa5ons, at all 5mes regardless of context

Rela=vism A wide variety of acceptable ethical beliefs and prac5ces exist What is ethical will depend on the percep5ons and condi5ons at that par5cular 5me

Egoism Decisions based on self-interest

Pluralism Different views may exist but consensus can be reached


General Ethical Principles U=litarianism

Greatest good for the greatest number of people Universalism

Treat others as we would like to be treated Rights

Decisions made should not disadvantage individuals of their unques5onable claims

Virtues Decisions are based on virtues such as firmness, fairness, objec5vity, loyalty.


Based on the following cases, cri5cally evaluate the ethical dilemma. What are the Ethical Issues? Who are the stakeholders? What are the possible alterna5ves? What are the Ethical Principles involved?

U5litarianism, Rights, Jus5ce What are the Prac5cal Constraints?

Ethical Considera5ons Lo2ery Mania

1. Talk to Jim about the possibility of targe5ng the events toward all frequent players.

2. Meet with Sal and Jim to explain the poten5al nega5ve publicity that may develop from targe5ng minority frequent players.

3. Design an effec5ve event marke5ng plan, and hope that the costs to some minority families will be more than offset by the benefits received from a beMer supported educa5on system.

4. Reconsider her original career choice, and pursue other offers of employment.

Kathy (DCC)

ScoM (North)

Mike (Basic)


Good Credit Reference 1. Kathy could finish the conversa5on with Mike

without any further reference to Norths credit standing.

2. Kathy could aMempt to alert Mike by sugges5ng he research Norths credit performance elsewhere as well.

3. Kathy could clearly warn Mike about the difficul5es North may pose in the near future.


Societal Impacts of Marke=ng 1. Len could present Bobs offer enthusias5cally. 2. Len could present Bobs offer but include a

cau5onary note about similar cases where harm was done to societal structure.

3. Len could pretend to have made the offer to the Punas and tell Mary that the Punas refused the offer.


SNB Annual Conference 1. AMend the conference. 2. AMend the conference but have her own

company pay all of the employees. 3. Discuss the conflict of interest with her boss,

Mary Ann. 4. Refrain from aMending the conference.

What is the issue?

Stakeholders involved?

Legal?

Any laws broken?

Any Codes involved?

Code of Ethics Corporate Governance

IFAC Codes

Transparent?

Do we mind people knowing what we have done?

Fair?

To ALL stakeholders.

Effect?

Adverse? Long Term? Reversible?

So What?

Ethical or not? More informa5on needed?

Seek advise?

cits slides

Documents

crea5ve thinking

principles of crea5ve

crea5ve solu5ons

new idea

new product

product innova5on

new requirements

new perspec5ves