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Hi, I’am going to sit for the exam in the coming sitting. However, I’m still confusing on how to answer the P3 question. For example, when should we draw a diagram to illustrate the model that we are using? when should we explain briefly on the theory of the model in the answer but the question is only asking us to apply the model? I’m really appreciated if you are willing to share your knowledge with me.
The majority of the marks is the application of the models, I passed it well in last sitting using template like,
As………….make your point, this means / this is a strength because………..reasoning
or if its a model like mendelow eg,
As employees have high interest because their jobs are at stake and have low power because they are not unionised and cant influence decision, mendelow states these stakeholders should be kept informed.
This means…….co. should have a strategy to deal……etc etc.
Do not draw unless asked to state it / draw it, very few marks go for stating the model, its application and justifying your decision is where the marks are in my view.
Learn the basic models but more importantly practice past questions. Look at the requirement in each question and do up an answer plan of bullet points what you would say, i.e. strengths / weaknesses – what does it mean for case co., what’s the story in the case? what’s the financial information saying, for example it could be 3 different business units?. Knowing what the question is asking is half the battle. Also know all your F5 stuff back to front.
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