Financial Management Honours

4.1 Participants
The course is designed to assist participants in achieving the course objectives previously
stated, while allowing sufficient scope for individuals to achieve personal objectives. Those
invited to join the programme will be selected because it is believed that they have something
to offer to, as well as gain from the course. A candidate who does not provide the expected
input is a drain on the whole programme.
4.2 Working Groups
The class will be divided into groups of between 3 and 5 students. The objective of the
working group is to simulate organisational behaviour. Various people in an organisation will
observe clues to problems and will propose action: in the working group the participant
should develop reasoning and persuasive abilities and also the ability to draw on the
knowledge, experience and perceptions of others in the group. Groups prepare material for
each session of the full class and will also be allocated group assignments. Working groups
normally meet once a week at a time convenient to the group members. Many corporate
finance assignments in practice revolve around teams. The course reflects the new corporate
reality.
4.3 Case Studies
The Programme follows the Harvard Business School approach of making extensive use of
case studies. The objective of a case study is to simulate real financial management
situations. Good case studies will therefore have a certain level of "noise", which is irrelevant,
distracting or misleading information, and also clues to various problems. These relevant
problems then compete for priority. The task of the group is:
• to eliminate the "noise",
• identify the relevant problems,
• rank them in order of priority,
• research the finance theory and literature relevant to these problems,
• identify alternative courses of action,
• propose and motivate the preferred alternative.
Case study work forms the core of the programme. The typical procedure for case study
preparation will be as follows: the individuals in the group will analyse the case and research
material where appropriate. They will then formulate a written solution. They will then meet
in the working groups to exchange, propose and debate their views. A group member will
document its conclusions and supporting arguments. This document is typed, including a
bibliography and is submitted by about noon on the day prior to the class meeting where the
case is to be discussed. Included in the document will be an executive summary (maximum
one page), which may be distributed to the full class at the appropriate time. Each Group can
email me their submission but please set out the worksheets in such a way that it is easy to
print. Always identify your Group in file names.
In addition, a spokesperson will be appointed by the working group to present their views on
the case at the full class meeting. It is mandatory that the functions of spokesperson be
rotated through the working group. However, I will retain the right to call on anyone to open
a case. No other mandatory rules apply to working groups. It is essential that all students
prepare for and participate in each case study. Abdication in favour of the spokesperson will
devalue the quality of solutions and defeat the function of the case. It is critical that all
members are fully prepared as I will call on any student within a group to answer a question.
At the full class meeting a group will be selected and the spokesperson for that group will
present their views. Other groups will also be given an opportunity to present their case.
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