Module Booklet Course: EDEXCEL BTEC (HND) BUSINESS Group: Ed excel Level Module: Unit 2 – Finance and Funding in the Travel and Tourism Sector Module type: Core Module Code: J/601/1742 Module Credit: 15 Teaching Period: (15+6 weeks) Level: 5 (QCF) Contact Hours: (15*3+6*3 =63) Lecturers: 15 weeks Revision Clinic: 3 week Feedback and assignment guidance: 3 weeks Module Leader: Mr George W. Muwonge Lecturer: Mr George W. Muwonge Start date: 29th September 2014 Day: Monday Time: 18.00 - 21.00 Room: 1301 Term: October 2014 - March 2015 CONTENTS 1. INTRODUCTION, AIMS AND OBJECTIVES 2. MODULE OUTLINE AND TEACHING METHODS 3. READING AND COURSE PREPRATION 4. LECTURE WITH DETAILED COURSE PROGRAMME AND OBJECTIVES 5. ASSESSMENT DETAILS 1. INTRODUCTION, AIM AND OBJECTIVES Introduction The aim of this unit is to help learners acquire knowledge, skills and techniques that will assist with management decision-making processes. The unit looks at the importance of costs, volume and profit for management decision making in travel and tourism and the process and analytical skills needed to understand financial information. Thus the majority of this unit considers financial practices at the micro level, ie within a travel and tourism business. However, it also considers issues at the macro level, ie funding arrangements for tourism project development. The unit is designed for learners working towards a career at the supervisory/management level in the travel and tourism sector. As a result of studying this unit they will gain a basic understanding of financial systems and practices. This unit is not intended to be an in-depth accountancy unit and should be delivered with this in mind. Aim: This unit enables learners to gain understanding of costs, volume, and profit, management accounting information, and sources and distribution of funding in travel and tourism, and gain skills to interpret financial accounts. Key Objectives: Explain the importance of costs, volume and profit for management decision making in travel and tourism Explain how management accounting information is used as a decision-making tool in travel and tourism businesses Interpret financial accounts to assist decision making in travel and tourism businesses Identify Sources and distribution of funding for public and non-public tourism development. Learning Outcomes and assessment criteria: On successful completion of this unit a learner will: 1. Understand the importance of costs, volume and profit for management decision making in travel and tourism Costs: direct costs, indirect costs, fixed costs, variable costs, allocation and apportionment Volume: break-even analysis, economies of scale, diseconomies of scale Profit: pricing methods to achieve a profit eg cost-led, market-led, cost-plus pricing, contribution, absorption, marginal costing, top down, return on investment; reasons for making a profit, definition of profit, type of business; factors influencing profit eg seasonal variations, political environment, economic environment, social environment, current trends, bad debts, planning, staff 2. Understand the use of management accounting information as a decision-making tool in travel and tourism businesses Management accounting information: financial statements, budgets, variance analysis, forecasts, MIS Decision-making tool: comparison with trends, forecasting, investment, raising capital, new products and services, current issues, against set criteria eg profitability, solvency, meeting budgets, meeting objectives 3. Be able to interpret financial accounts to assist decision making in travel and tourism businesses Financial accounts: methods used to interpret financial accounts eg cash flow statement, trading account, profit and loss account, balance sheet of a typical travel and tourism related business Measure financial performance: measure eg current ratio, acid test ratio, return on capital employed, capital gearing, return on net assets, debtors' collection period, creditors' payment period, ratio of administration costs to sales, net profit per cent, gross profit per cent, stock turnover ratio as practised by businesses in the travel and tourism sector 4. Understand sources and distribution of funding for public and non-public tourism development. Sources: role of Department of Culture, Media and Sport eg National Lottery Commission; Office of Deputy Prime Minister eg European Social Fund, Regional Development Fund; sources and disbursement of funding through the Non-Governmental Public Bodies (NGPB) Capital projects: projects eg Tourism Information Points, Interpretation Boards, small scale tourism/environmental improvement with associated interpretation, development of small-scale heritage sites with interpretation and information, integrated footpath development and improvement, integrated bridleways development and improvement, cycle route development and improvement, provision of secure cycle storage, Pedestrian Fingerposts Non-public funding: funding eg debt funding, equity funding and government funding Learning Outcomes and assessment criteria LO1 Understand the importance of costs, volume and profit for management decision making in travel and tourism 1.1 explain the importance of costs and volume in financial management of travel and tourism businesses 1.2 analyse pricing methods used in the travel and tourism sector 1.3 analyse factors influencing profit for travel and tourism businesses LO2 Understand the use of management accounting information as a decision making tool in travel and tourism businesses 2.1 explain different types of management accounting information that could be used in travel and tourism businesses 2.2 assess the use of management accounting information as a decision-making tool LO3 Be able to interpret financial accounts to assist decision making in travel and tourism businesses 3.1 interpret travel and tourism financial accounts LO4 Understand sources and distribution of funding for public and non-public tourism development 4.1 analyse sources and distribution of funding for the development of capital projects associated with tourism Programme Specification Accrediting Body: EDEXCEL Course: BTEC HND IN TRAVEL AND TOURISM Unit 2: Finance and Funding in the Travel and Tourism Sector Wk Lecture Schedule Outcome of session Activity/seminar and formative assessment Resources 1 Introduction to the module, Introduction to organisational behaviour Introduction to the module, mode of assessment, awareness of the awarding body, assessment criteria and the mode of assessment. Background of the expectations of the awarding body. Module handbook. 2 1.1 explain the importance of costs in financial management of travel and tourism businesses After completing this session learners are expected to be able to: explain the importance of direct, indirect, fixed and variable costs, allocation and apportionment of overheads. Group discussion, Question and answer, Case study Lecture notes 3 1.1 explain the importance of volume in financial management of travel and tourism businesses (1.1) After completing this session learners are expected to be able to explain the importance of break-even analysis, economies of scale, diseconomies of scale Group discussion, Question and answer, Case study addressing learning outcome 1.1 4 1.2 analyse pricing methods used in the travel and tourism sector (1.2) After completing this session learners are expected to be able to analyse pricing methods to achieve a profit eg cost-led, market-led, cost-plus pricing, contribution, absorption, marginal costing, top down, return on investment; Group discussion, Question and answer, Case study Trail Finder, TUI Travel, Thomas Cook addressing learning outcome 1.2 Power point slides TUI Travel, Trail Finder and Thomas Cook brochures, 5 1.3 analyse factors influencing profit for travel and tourism businesses (1.3) After completing this session learners are expected to be able to explain reasons for making a profit, definition of profit, type of business; analyse factors influencing profit eg seasonal variations, political environment, economic environment, social environment, current trends, bad debts, planning, staff Group discussion, Question and answer, Case study addressing learning outcome 1.3. Power point slides 6 Explain different types of management accounting information that could be used in travel and tourism businesses (2.1) After completing this session learners are expected to be able to explain the different types of management accounting information such as financial statements, budgets, variance analysis, forecasts, MIS Group discussion, Question and answer, Case study addressing learning outcome 2.1. Power point slides Lecture notes 7 Explain different types of management accounting information that could be used in travel and tourism businesses (2.1) After completing this session learners are expected to be able to explain the different types of management accounting information such as variance analysis, forecasts, MIS Discussion and addressing learning outcome 2.1 Power point slides Lecture notes 8 Assess the use of management accounting information as a decision-making tool (2.2) After completing this session learners are expected to be able to assess the use of management accounting information to support decision-making such as: comparison with trends, forecasting, investment, raising capital, new products and services, current issues, against set criteria eg profitability, solvency, meeting budgets, meeting objectives Group discussion, Question and answer, Case study addressing learning outcome 2.3. Case study and power point slides. 9 Explain the methods used to interpret financial accounts of a typical travel and tourism related business After completing this session learners are expected to be able explain methods used to interpret financial accounts such as cash flow statement, trading account, profit and loss account, balance sheet of a typical travel and tourism related business Samples of financial statements for different travel and tourism businesses Group discussion Question and answer, Case study and power point slides. 10 Interpret travel and tourism financial accounts (3.1) After completing this session learners are expected to be able to measure financial performance of a travel and tourism business using different measures such as current ratio, acid test ratio, return on capital employed, capital gearing, return on net assets, debtors' collection period, creditors' payment period, ratio of administration costs to sales, net profit per cent, gross profit per cent, stock turnover ratio Group discussion, Question and answer, Case study addressing learning outcome 3.1. Annual reports for Thomas power point slides, 11 Interpret travel and tourism financial accounts (3.1) After completing this session learners are expected to be able to analyse and interpret different travel and tourism financial accounts Practical activity, in class presentation addressing learning outcome 3.1. Question and answer Case study and Annual reports for TUI Travel, Thomas Cook, International Airlines Group, power point slides, 12 (4.1) Analyse sources and distribution of funding for the development of capital projects associated with tourism After completing this session learners are expected to be able to identify, analyse public sources and distributions of funding in travel and tourism such as: role of Department of Culture, Media and Sport eg National Lottery Commission; Office of Deputy Prime Minister eg European Social Fund, Regional Development Fund; sources and disbursement of funding through the Non-Governmental Public Bodies (NGPB) Group discussion, Question and answer, Case study addressing learning outcome 4.1. Case study and power point slides, 13 Identify capital projects associated with travel and tourism and their sources of funding After completing this session learners are expected to be able to analyse capital projects associated with travel and tourism: eg Tourism Information Points, Interpretation Boards, small scale tourism/environmental improvement with associated interpretation, development of small-scale heritage sites with interpretation and information, integrated footpath development and improvement, integrated bridleways development and improvement, cycle route development and improvement, provision of secure cycle storage, Pedestrian Fingerposts Group discussion, Question and answer, Case study addressing learning outcome 4.1. Power point slides 14 (4.1) Analyse non-public sources of funding for the development of capital projects associated with tourism After completing this session learners are expected to be able to use specific examples to analyse non-public funding such as debt funding, equity funding and government funding Group discussion, Question and answer, Case study Power point slides 15 Revision Review of all learning outcomes (LO1 - 4) 16 Assignment support Assignment support and guidance 17 Assignment support Assignment support and guidance 18 Assignment support Assignment support and guidance 19 Assessment and feedback Feedback given to the learner 20 Assessment and feedback Feedback given to the learner 21 Assessment and feedback Feedback given to the learner Recommended text and links: Horner P (1996), Travel Agency Practice, Harlow, Longman. Kotas R (1999), Management Accounting for Hospitality and Tourism, 3rd edition, Thomson Learning, London Owen G (1998), Accounting for Hospitality and Tourism, 2nd Edition, Financial Times / Prentice Hall Adams D (2006) Management Accounting for the Hospitality, Tourism and Leisure Industries: A Strategic Approach, 2nd Edition: Cengage Learning EMEA, Newspapers Various national newspapers have wide coverage of business issues such as The Times, Guardian, Telegraph, and Financial Times Websites www.bized.ac.uk provides case studies appropriate for educational purposes. www.ft.com The Financial Times business sections Wk Session Update Date Signature 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 Lecturer: George W Muwonge Campus: Wentworth house Email: [email protected] Assessment: The module will be assessed meeting all the LO as specified by the awarding body, Ed Excel. Please read the instructions carefully while addressing the tasks specified. Contribution: of the module Outline Details: report approx 4000 words. Details enclosed in the assignment brief. Teaching and Learning Activities The module tutor(s) will aim to combine lectures with tutorial activities. This environment will provide opportunities for the student to understand the course material through case study and text and to apply it in a practical way. The intent is to facilitate interactive class activities, and discussion about the significant role of research in a global and local business environment. 2.3 Teaching Ethos The college's approach towards teaching and learning is simple and effective. The main aim of UKCBC is to assist learners in maximising their potential by ensuring that they are taught clearly and effectively. This will enable students to engage in the learning environment and promote success in both their academic studies and subsequent career. 2.3.1 Methods of Delivery: LECTURES: These will be developed around the key concepts as mentioned in the indicative course content and will use a range of live examples and cases from business practice to demonstrate the application of theoretical concepts. This method is primarily used to identify and explain key aspects of the subject so that learners can utilise their private study time more effectively. SEMINARS: These are in addition to the lectures. The seminars are designed to give learners the opportunity to test their understanding of the material covered in the lectures and private study with the help of reference books. This methodology usually carries a set of questions identified in advance. Seminars are interactive sessions led by the learners. This method of study gives the learner an excellent opportunity to clarify any points of difficulty with the tutor and simultaneously develop their oral communication skills. CASE STUDIES: An important learning methodology is the extensive use of case studies. They enable learners to apply the concepts that they learn in their subjects. The learners have to study the case, analyse the facts presented and arrive at conclusions and recommendations. This assists in the assessment of the learner's ability to apply to the real world the tools and techniques of analysis which they have learnt. The case study serves as a supplement to the theoretical knowledge imparted through the course work. Plagiarism: Any act of plagiarism will be seriously dealt with according to the colleges and awarding bodies' regulations. In this context the definition and scope of plagiarism are presented below: Plagiarism is presenting someone's work as your own. It includes copying information directly from the web or books without referencing the material; submitting joint coursework as an individual effort; copying another student's coursework; stealing coursework form another student and submitting it as your own work. Suspected plagiarism will be investigated and if found to have occurred will be dealt with according to the college procedure. (For further details please refer to the plagiarism policy and the student code of conduct.) ASSESSEMENT Unit: 2 – Finance and Funding in the Travel and Tourism Sector Learning Hours: 63 Hours. Self-learning hours: 87 hours. Course: HND Business – Level CREDIT VALUE: 15 CREDITS Term: Sept 2013- Jan 2014 Lecturer: George W Muwonge Internal Verifier: Sunita Kotta Learners Name Registration Number Learners Declaration: I certify that the work submitted for this unit is my own: Signed: Hand out Date: Submission Date: The Following Sections to be completed by the assessor: Center Name: UKCBC Center Number: Please note that the assessors signature below denotes conformation that he/she has in no way influenced the outcome of the assessment: Assessors Name: Mr George W Muwonge Assessors Signature: Has the unit been Internally Verified? Y/N Date of verification: Internal verifiers signature: Internal verifiers assignment brief: Due Dates Issue Date Due Task- 1 17/11/2014 Deadline for September 2014 intake where E-Learning will be blocked 18th week of the term 12/02/2015 Due Task- 2 01/12/2014 Due Task- 3 15/12/2014 Due Task – 4 22/01/2015 Outcome Evidence for the criteria to pass. Assessors decision Internal verification decision. (agree, disagree) TASK 1 : You are required to carry out a research as specified in the assignment brief and use supportive materials like books, websites, etc—and give a feedback to the findings on P1.1,1.2,1.3. The answers need to be reflected to the instructions as specified and chosen for the purpose. Answers without application to International Airlines Group (IAG) or Thomas Cook Group Plc will be marked as resubmission. LO 1- Understand the importance of costs, volume and profit for management decision making in travel and tourism P1.1- explain the importance of costs and volume in financial management of travel and tourism businesses using International Airlines Group (IAG) or Thomas Cook as your case study P1.1 (P,M,D) P1.1 (P,M,D) P1.2- analyse pricing methods used in the travel and tourism sector using International Airlines Group (IAG) or Thomas Cook Group Plc as your case study P1.2 (P,M,D P1.2 (P,M,D P1.3- analyse factors influencing profit for travel and tourism businesses using International Airlines Group (IAG) or Thomas Cook Group as your case study P1.3 (P,M,D) P1.3 (P,M,D) Summarized Feedback for Task 1 (Constructive feedback 1.1, 1.2, 1.3, 1.4, Pass merit and distinction.) IV comments towards Task 1 TASK 2 You are required to carry out a research as specified in the assignment brief and use supportive materials like books, websites, etc—and give a feedback to the findings on P2.1, and P2.2 The answers need to be reflected to the instructions as specified and chosen for the purpose. Answers without application to International Airlines Group (IAG) or Thomas Cook Group Plc will be marked as resubmission. LO2 Understand the use of management accounting information as a decision-making tool in travel and tourism businesses P2.1- explain different types of management accounting information that could be used in travel and tourism businesses using International Airlines Group (IAG) or Thomas Cook Group Plc as your case study P 2.1 (P,M,D) P 2.1 (P,M,D) P2.2.– assess the use of management accounting information as a decision-making tool for International Airlines Group (IAG) or Thomas Cook Group Plc P 2.2 (P,M,D) P 2.2 (P,M,D) Summarized Feedback for Task 2(Constructive feedback 2.1, 2.2, 2.3, Pass merit and distinction.) IV comments towards Task 2 TASK 3 You are required to carry out a research as specified in the assignment brief and use supportive materials like books, websites, etc to interpret financial accounts of TUI Travel Plc for the year ended 30th September 2013 —and give a feedback to the findings on P3.1. The annual report and accounts is available at http://tuitravelplc.com. The answers need to be reflected to the instructions as specified and chosen for the purpose. Answers without application to TUI Travel Plc will be marked as resubmission. TASK 3 LO3 Be able to interpret financial accounts to assist decision making in travel and tourism businesses P3.1- interpret financial accounts of TUI Travel Plc for the year ended 30 September 2013 focusing on the ratios given in the assignment and showing at least two years performance (comparing 2013 to 2012). P 3.1 (P,M,D) P 3.1 (P,M,D) Summarized Feedback for Task 3 (Constructive feedback 3.1, 3.2, 3.3, 3.4, Pass merit and distinction.) IV comments towards Task 3 TASK 4 You are required to carry out a research as specified in the assignment brief and use supportive materials like books, websites, to analyse sources and distribution of funding for the development of capital projects associated with tourism etc—and give a feedback to the findings on P4.1. The answer need to be reflected to the instructions as specified and chosen for the purpose. Answers without application to specific capital projects associated with travel and tourism will be marked as resubmission. LO4 4 Understand sources and distribution of funding for public and non-public tourism development. P4.1 4.1 analyse sources and distribution of funding for the development of capital projects associated with tourism P4.1 (P,M,D) P4.1 (P,M,D) Summarized Feedback for Task 4(Constructive feedback 4.1, 4.2, 4.3, Pass merit and distinction.) IV comments towards Task 4 Merit grades awarded M1 M2 M3 P1 P2 P3 P4 Distinction grades awarded D1 D2 D3 Resubmit : Any other comments Grade given by the Assessor: Pass Merit Distinction Assessors Signature: Date: IV Grading Check: Comments if any: Agree Disagree Modify grade to IV signature: Date: Students feedback: Student Signature: Date: I assure that this is my work. Any act of plagiarism will be seriously dealt with according to the colleges and awarding bodies' regulations. In this context the definition and scope of plagiarism are presented below: Plagiarism is presenting someone's work as your won. It includes copying information directly from the web or books without referencing the material; submitting joint coursework as an individual effort; copying another student's coursework; stealing coursework form another student and submitting it as your own work. Suspected plagiarism will be investigated and if found to have occurred will be dealt with according to the college procedure. (For further details please refer to the plagiarism policy and the student code of conduct.) ASSIGNMENT TASK 1 LO 1- Understand the importance of costs, volume and profit for management decision making in travel and tourism You are required to carry out a research as specified in the assignment brief and use supportive materials like books, websites, etc—and give a feedback to the findings on P1.1,1.2,1.3. The answers need to be reflected to the instructions as specified and chosen for the purpose. Answers without application to International Airlines Group (IAG) or Thomas Cook Group Plc will be marked as resubmission. P1.1 explain the importance of costs and volume in financial management of travel and tourism businesses using International Airlines Group (IAG) or Thomas Cook as your case study P1.2 analyse pricing methods used in the travel and tourism sector using International Airlines Group (IAG) or Thomas Cook Group Plc as your case study P1.3 analyse factors influencing profit for travel and tourism businesses using International Airlines Group (IAG) or Thomas Cook Group as your case study Task 2 LO2- Understand the use of management accounting information as a decision making tool in travel and tourism businesses You are required to carry out a research as specified in the assignment brief and use supportive materials like books, websites, etc—and give a feedback to the findings on P2.1, and P2.2 The answers need to be reflected to the instructions as specified and chosen for the purpose. Answers without application to International Airlines Group (IAG) or Thomas Cook Group Plc will be marked as resubmission. P2.1 explain different types of management accounting information that could be used in travel and tourism businesses using International Airlines Group (IAG) or Thomas Cook Group Plc as your case study P2.2 assess the use of management accounting information as a decision-making tool for International Airlines Group (IAG) or Thomas Cook Group Plc Task 3 LO 3 Be able to interpret financial accounts to assist decision making in travel and tourism businesses You are required to carry out a research as specified in the assignment brief and use supportive materials like books, websites, etc to interpret financial accounts of TUI Travel Plc for the year ended 30th September 2013 —and give a feedback to the findings on P3.1. The annual report and accounts is available at http://tuitravelplc.com. The answers need to be reflected to the instructions as specified and chosen for the purpose. Answers without application to TUI Travel Plc will be marked as resubmission. 3.1 interpret financial accounts of TUI Travel Plc for the year ended 30 September 2013 focusing on the ratios given below and showing at least two years performance (comparing 2013 to 2012). (a) Current ratio (b) Acid test (c) Return on capital employed (d) Return on net assets (e) Debtors' collection period (f) Creditors' payment period (g) Stock turnover (h) Ratio of administration costs to sales (i) Gross profit as a percentage of sales (j) Net profit as a percentage of sales (k) Capital gearing Task 4 LO 4 – Understand sources and distribution of funding for public and non-public tourism development You are required to carry out a research as specified in the assignment brief and use supportive materials like books, websites, to analyse sources and distribution of funding for the development of capital projects associated with tourism etc—and give a feedback to the findings on P4.1. The answer need to be reflected to the instructions as specified and chosen for the purpose. Answers without application to specific capital projects associated with travel and tourism will be marked as resubmission. 4.1 analyse sources and distribution of funding for the development of capital projects associated with tourism such as the Cross Railway project, Tourism Information Point, small scale tourism/environmental improvement with associated interpretation, development of small-scale, heritage sites with interpretation and information, integrated footpath development and improvement, integrated bridleways development and improvement, cycle route development and improvement, provision of secure cycle storage Assignment Guidelines:  Use a standard report structure, Word-process the report and use Normal script of a proper font size 12.  Produce an academic report, detailing the above issues with a word limit of 4000 to 4500 words.  Complete the title page and sign the statement of authenticity.  The Assignment sheet should be attached in the front.  Submit the document in a folder in the form of a file as well as a soft copy on the submission date.  It should be uploaded on E-Learning platform before the deadline and submitted to -------- and sign the submission form of the college.  Assignments submitted after the deadline will not be accepted unless mitigating and may be entitled for a late fee.  Collusion and Plagiarism must be avoided.  Start each answer on a new page and pages should be numbered. Highlight each question clearly.  Include a Bibliography at the end of the assignment and use a standard referencing as Harvard referencing system.  All work should be comprehensively referenced and all sources must be fully acknowledged, such as books and journals, websites (include the date of visit), etc.  Try to give the page numbers, publishers' details and the year of publication  In order to Pass you need to address all the LO  In order to get a Merit you need to address the characteristics of Pass and then M1, M2,M3  In order to get a Distinction you need to address the characteristics of a Pass, Merit and then Use a common format for the questions, for example:  Introduction (analyze the question.)  Underpinning Knowledge (write about the relevant theory/points)  Applied knowledge(Data Analysis)  Conclusions and Recommendations (summarizing the whole scenario keeping in view pass, merit, distinction criteria.) Student feedback form with the Assessment Grid indicating their pass, merit and distinction: Name: Registration Number: Unit 2: Finance and Funding in the Travel and Tourism Sector Outcomes/criteria: Indicative characteristics Possible evidence Feedback P1. Understand the importance of costs, volume and profit for management decision making in travel and tourism P2. Understand the use of management accounting information as a decision-making tool in travel and tourism businesses P3. Be able to interpret financial accounts to assist decision making in travel and tourism businesses P4. Understand sources and distribution of funding for public and non-public tourism development. As per the assessment criteria specified for pass Do Do Do Task 1 Task 2 Task 3 Task 4 Merit Description: M. Identify and apply strategies to find appropriate solutions. . Relevant theories and techniques have been applied. . Effective judgments have been made. . Complex problems with more than one variable have been explored. . An effective approach to study and research has been used. M2. Select/ design and apply appropriate methods/ techniques. . A range of methods and techniques has been applied. . A range of sources of information used. . The selection of methods and techniques justified. . Complex information/data have been synthesized and processed. .Appropriate learning methods/ techniques applied. M3. Present and communicate appropriate findings. . Technical language accurately used. . A range of methods of presentation has been used. Distinction Description: D1. Use critical reflection to evaluate own work and justify valid conclusion. . Synthesis has been used to generate and justify valid conclusions . The validity of results has been judged . Self-criticism of approach has taken place. . Evaluation has taken place using defined criteria . Realistic improvements have been proposed against defined characteristics for success. D2. Take responsibility for managing and organizing activities. Autonomy/independence demonstrated Substantial activities/projects or investigations have been planned, managed and organized. The unforeseen has been accommodated. The importance of interdependence has been recognized. D3. Demonstrate convergent, lateral and creative thinking Ideas generate and decisions taken Convergent and lateral thinking have been applied Capacity for innovation and creative thought has been used. Receptiveness to new ideas has demonstrated. Unfamiliar contexts have been applied.