FINM1416 Workshop 1 Assignment
This workshop assignment has two components: an individual component (50%) and a group component (50%). The
individual component is due before the first workshop commences. The group component will commence during the
workshop (see the timetable on Blackboard) where staff is there to help ensure you are on the right track.
The purpose of this workshop is to apply the four different Business Purpose views to a scenario based on a real-
world case. The four business purpose views are discussed in your Module 1 learning materials in your UQ Pressbook
on Blackboard and additional materials are provided as part of Tutorial 1. Use the articles provided in Tutorial 1 for
this workshop assignment.
The Case
Watch the following documentary: GM Recall – The Switch from Hell
(https://www.youtube.com/watch?v=Pwt1Dc2XD6Q).
An article on the case highlights the following:
“One theory for inaction is that GM's management simply thought the replacement was too expensive.
According to an email chain from 2005 unearthed by investigators, GM's managers estimated that replacing
the key ignition-switch component would cost 90 cents per car, but only save 10 to 15 cents on warranty
costs.
When presented with those documents, Barra told Congress that decision was not acceptable. "In the past,"
she added, "we had more of a cost culture, and now we have a customer culture that focuses on safety and
quality."” (https://www.vox.com/2014/10/3/18073458/gm-car-recall)
In preparation for your assessment, make sure you are familiar with all business purpose views and the case,
including any further research on the GM recall.
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Part 1 – Individual component (due 8:00am, Monday 04 March) (50% of mark)
In your learning materials for Module 1, you have come across a video of Milton Friedman on “Self-interest and the
Profit Motive” (also viewable here), where he debates a student about the Ford scandal.
Tasks: Upload a document to Blackboard including the following:
Q1. Short answer: Describe the debate between the college student and Milton Friedman. What did Friedman say
was the principle the student is raising? What is your opinion about this principle? How is this principle relevant to
the GM case? (10 marks)
Q2. Short answer: List 2 key quotes from each of the four authors (i.e., Friedman, Freeman, Hart, Stout, see Module
1 from your UQ Pressbook on Blackboard and Tutorial 1 materials) that best demonstrates their view, and explain
what they mean in your own words (list the two quotes and explain in no more than four complete sentences). (16
marks)
Q3. Short answer: What business strategy would each of the Authors (i.e., Friedman, Freeman, Hart, Stout, see
Module 1 your UQ Pressbook on Blackboard and Tutorial 1 materials) have advised to the CEO of GM when posed
with the question on whether to replace the key ignition-switch component when the fault was known? Make sure
to refer to the case, and whether the strategy is close to what GM did in the past and presently (answer in no more
than five complete sentences per view). (16 marks)
Q4. Short answer: What do you think the CEO of GM should have done with respect to replacing the key ignition-
switch component when the fault was known? (8 marks)
Word limit: 800 words (try to be concise and straight to the point!). Your individual component must be submitted
through both Turnitin and using the Blackboard link. The essay is due at 8:00AM on Monday 04 March 2024.
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Part 2 – Group component (2hr timetable + report due at the same time one week after your
workshop) (50% of final mark)
You will be assigned to a group on Blackboard of 4-6 students. You must attend the workshop you have been
allocated to.
First 10 mins: Introduction to workshop and instructions. Your first task is share and discuss your answers with your
peers. This is a crucial and necessary part of starting your group task.
Remaining workshop time: Review and discuss the different answers of your group members. Then, begin to
brainstorm and write up the answers for your group report (up to 1200 words):
Q1. What business strategy would the four Business Purpose views advise the CEO to adopt? (24 marks)
Q2. How have your views been influenced by other business purpose views and/or other team members? E.g.,
do your individual views of what the CEO should do differ much? Have minds been changed when discussing?
What have you learnt as a group from each other? (24 marks).
This group report must be submitted by only one member of your group through both Turnitin and using the
Blackboard link. The report is due at the same time one week after your workshop.
Marking
Your final score for the workshop will be computed out of 100 marks. Your best three workshops will each count for
15% of your final grade (so that all your workshops in FINM1416 will count for a total of 45% of your course grade).
Marks will be allocated as follows:
Task Marks
Individual component 50
Final report (group component) 50
Total 100