Description of impact *
In a strategic educational initiative centred on assessment, students were tasked to apply financial theories to solve real-world problems, enhancing their understanding and demonstrating the economic and societal impact. The assessment involved a detailed analysis of corporate performance. In particular, student applied excel tool extensively to analyse major corporations such as AMP Capital, Woolworths, and Coles, by investigating their financial position with a particular focus on how issues like corporate misconduct (i.e., AMP Capital) and price gouging (inquiries at Woolworths and Coles) impact corporate performance which has a direct impact to the wider community.This practical approach to the curriculum significantly enriched the learning experience, equipping students with essential employability skills like problem-solving, critical thinking, financial data analysis using excel tools, and the critical evaluation of information from various sources to produce corporate valuation report. Students also sharpened their ability to present complex financial data clearly, logically and effectively, showcasing their business acumen skills. The assessment addressed real economic challenges not only improved students' capabilities to address societal issues but also prepared them for professional roles. The skills they acquired are also related to soft skills that are valuable for employability, such as promoting ethical conduct, enhancing diversity, building trust and reputation through better transparency in business operations. These competences collectively improves students’ employability likelihood in the competitive market.
Moreover, the assessment initiative has had a broader social impact. For example, the impending final recommendations from a government-commissioned review on supermarket price gouging are expected to improve transparency, potentially regulate prices, introduce government subsidies to reduce business costs, and enhance market competition during high cost of living crises. These measures aim to alleviate economic hardships for the community by large and boost employment opportunities demonstrating the significant societal benefits.
| Impact date | 1 Sept 2023 → 30 May 2024 |
|---|---|
| Category of impact | Economy impacts, Society impacts, Culture impacts |
| Impact level | Benefit (mid) |