Should You Require Participants to Take Quiz 1 and Quiz 2?
We strongly urge requiring students to take the quizzes and counting their quiz scores as part of the final simulation grade. The quizzes were developed to provide you with feedback on each class member’s grasp of the simulation. Both quizzes are open-book, and really are aimed at pushing class members to learn what is going on rather than “testing” them. The questions for both Quiz 1 and Quiz 2 are chosen randomly from a larger bank containing 5 versions of the same 20 questions, so that each participant has a mostly different quiz but is still quizzed on the same 20 topics.
In the links to the quizzes on the Corporate Lobby screen, all participants are provided a description of what the quiz covers, what printouts to have on hand when taking the quiz, and three sample questions, so that they know what to expect when they take a quiz.
Quiz 1. All the questions for Quiz 1 are drawn directly from the 26-page Participant’s Guide. If students have read the Participant’s Guide, highlighted the parts they consider important, and thumb through the Guide to look up the answers they don’t know, they can easily score 80 or higher on Quiz 1. Grades of 90 and higher on Quiz 1 are common. Class members who score 75 or less on Quiz 1 have not read the Guide carefully and are ill-prepared to run their company in an informed manner. We strongly recommend that the deadline for completion of Quiz 1 be set to coincide with the deadline for the first practice decision (or the decision for Year 6 if you are not having a practice decision). Such an “early” deadline spurs class members to immediately digest the Participant’s Guide and get a much-needed grasp of the industry situation, company operations, how sales and market share are determined, what performance targets they are expected to achieve, and how company performance is scored. This helps them off to a good start, both in running their companies and in working with co-managers. When class members score low on Quiz 1 and lack command of how things work, they can’t contribute much to team meetings or be influential in making decision entries — sometimes they end up being ignored by teammates after numerous times of having to explain why their “off-the-wall” suggestions are a “bad idea.” You have the option to schedule Quiz 1 for completion as late as the second real decision round (the decision for Year 7) or, of course, not to schedule it at all. You can preview the questions in Quiz 1 by clicking on the link in the Instructor Support section of your Instructor Center screen. The default time limit for completing Quiz 1 is an ample 45 minutes, but there is a place to extend this limit when creating your schedule of decision rounds and assignments.
Quiz 2. The purpose of Quiz 2 is to prod class members to read the Help pages and gain full command of where the numbers in the reports are coming from and what interpretation should be placed on them. Quiz 2 consists of questions drawn from information provided on a subset of the Help pages and concern the accounting principles used to allocate costs across regions and between entry-level and multi-featured cameras, how to interpret the shifts in exchange rates, how to calculate the financial and operating ratios contained in the each year’s reports, and certain other information pertinent to company operations. Students can make a score of 80 or higher on Quiz 2 simply by following the Quiz 2 instructions to print copies of certain Help pages prior to taking the quiz and then using these printouts to look up the correct answers and find the formulas they need for calculating such things as EPS, ROE, the current ratio, and the operating profit margin. Students who score below 70 on Quiz 2 don’t have strong understanding of how to calculate or interpret the numbers in the company reports and the accounting principles on which the reports are based. You can preview the questions in Quiz 2 by clicking on the link in the Instructor Support section of your Instructor Center screen. Quiz 2 has a default time limit of 90 minutes.
You have the option to schedule the deadline for Quiz 2 to coincide with the deadline for the decision for Year 8 or any year thereafter. It is recommended that the deadline correspond to Year 8 for two reasons. By Year 8 (after 1 or 2 practice rounds and 3 scored decision rounds), co-managers have had ample time to grasp what is going on, what the numbers in the company reports mean, and how they are calculated. Setting a later deadline for Quiz 2 completion simply allows less diligent co-managers to coast along in “shoot from the hip” style — this serves no useful purpose. The more co-managers know about their company and the quicker they know it, the more they learn from the GLO-BUS simulation exercise.
How Much Should the Quizzes Count? We suggest putting a 2.5% to 5% weight on Quiz 1 and a 5% to 7.5% weight on Quiz 2 in determining overall performance scores for each participant. Since both quizzes are “open book”, such weights can easily turn out to be “grade boosters.”
Note: You can compare the scores in your class to the average scores earned worldwide on both quizzes by clicking the GLO-BUS Vital Statistics link that appears near the bottom of the Instructor Resources box on the left side of your Instructor Center screen—the average scores shown are for all quiz-takers worldwide during the specified period.