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Build knowledge in half the time?
4 features. The most important?
Combine content with action
The first step of an effective learning experience is that the
learner acts to gain experience of what is being taught. What sounds
more rewarding – only watching someone talking about financial
decisions, or also make them yourself?
The pedagogy is more effective
when you combine content-based learning with action-based learning by tests, tasks,
issues, questions and decisions giving rise to further actions,
questions, curiosity and interest. Rather than just consuming knowledge
through videos or written content, learners earn on taking actions and experiment
with what they learn to get increased knowledge.
Interaction and immediate FEEDBACK
The program gets you to act in many different ways.
- Before a test, task, question or decision, you can search for knowledge
in teaching materials, as Facts, dictionary and in using calculation tools.
- After a decision, you show the changes and answer to questions.
- You get immediate feedback after each individual action
and are able to correct thoughts and knowledge.
Show the CONTEXT
Especially in number-oriented topics as finance and with complex structures and patterns
the feedback must show the answers in its greater context.
But in videos, teaching and exercise books of today, every exercise is an isolated island
without having the opportunity to show the solution to a calculation and how that affects the business in total
in various reports and key figures.
Thus it is difficult for you too. You need ProfitGames to act and see consequences, contexts and learn.
Structured active spaced learning
How long does a course take? Give it a quarter at a time and reflect.
The learning time is individual but will be much quicker per time spent in ProfitGames.
- But you should spread it over time with a structure.
“Binge" learning is what students do when they cram for a test. It is better to spread the learning over time.
Building new memory cells requires that you shift between activities and rest.
See evaluation of Harvard among others under Method.
Comparative study: Active learning
In a study the Proceedings of the National Academy of Sciences (PNAS) conducted the largest and most comprehensive
review of the effect of active learning on STEM (Science, Technology, Engineering and Mathematics) education.
Students in a traditional lecture course are 1.5 times more likely to fail, compared
to students in courses with active learning.
A graph of how students performed in active learning and lecture
courses: The horizontal axis is the failure rate, and the vertical axis
is the relative number of courses with that failure rate.
Freeman et al, PNAS.
The researchers behind the report in PNAS also point to the need for studies
on which forms of active learning are most effective. A review from 2013 of ten commonly used learning
techniques revealed that the majority only to a very limited
extent strengthens student learning. Of the techniques examined,
only two were judged to have good potential for sustainable learning.
1. One was to distribute active learning over time, distributed practice.
2. The other was test-based learning, practice testing.
They have been proven in recent research in many countries in terms of
1. spaced and
2. test-based learning.
The research is widely known, but not spread to and used in school.
See more about testing and spacing in Method.
ProfitGames is accordingly built on testing through decisions, questions, tasks and scenarios.
Action, feedback, context and reflection
New knowledge is created by
putting experiences to tests repeatedly. Activity always wins over passivity.
When you learned to ride a bike, you proceeded by trial and
error, fell, picked yourself up and tried
again. It was about interactivity and feedback. As an example learning
how to drive a car and finding your way in the traffic requires a
processing of experience. That is learning by doing
and also learning by failing, to be able to do a wrong maneuver
and immediately see the consequences preferably in a simulation.
On the way to a diploma you are confronted with and
decide about events, adventures, decisions, tasks,
quizzes and feedback in right doses. You get immediate
response in report pictures etc. which visualize and put
your experience into its financial context, in a way
which exercise books cannot do.
In a classroom the teacher can instruct and summarize so that the students
find the course "the best I have experienced". Teachers and
teaching materials are to have a clear structure
according to which knowledge is transferred.
Action-based learning means that you take what you learnt and put it into action.
You use your technical skills of the simulation and calculation tools with reports and learning media
both inside and outside courses and games. You shorten the training time and extend the knowledge.
Making it where you are, anywhere, anytime and save the climate.
A popular concept within active learning is gamification, which is related to "game"
and should meet some requirements:
- There are
targets specified in a scorecard.
- You get
immediate feedback, which is a prerequisite for learning.
- You see the end results in a scoreboard
which is built on during the years that your login is active.
- Other key elements include awards as diplomas with the possibility to reach higher levels.
- And preferably a social component that
involves being able to discuss and compare with other participants.
OS! In classic business games as an example, the gamification is the main thing, not the learning.
To use a few more
concepts, our courses are a mix of serious games, simulation
based training, purposeful
games, focused games, beneficial games, interactive based training, problem
based training, case based training, game based training, scenario based
training, competency-based learning and blended learning at teacher-led instruction.
When is the pedagogy most effective?
See the structure
To create long term memory mnemonics it is about creating the structure of
memory cells to put information into to become knowledge. You learn as soon as
possible the fundamental structure of finance by putting your experiences into their right context.
See the patterns in Action-Based learning
Colour and configuration is a recurring theme to facilitate the understanding.
The human brain needs to see patterns. You do it in interaction with reports,
key ratios, profitability charts, cash flow and calculation models.
See the context
You see immediately how a specific action of yours at the level of detail affects the larger context.
Your single decision, not made in clump, affects the company's accounts and key ratios.
Practices and games build on continuously showing
the connection between the detail and the whole in overall images.
You no longer have to
be at famous universities in the United States to get access to their
lectures and instructional videos. They are freely available on the
Internet as MOOCs (Massive Open Online Courses). Although it costs almost a fortune to enroll prestige universities.
They know that quality teaching has to provide much more than MOOCs
having filmed lectures.
Why are MOOCs not enough?
They have an important role, when they have a clear structure with good rhetoric.
But especially in calculation-oriented topics it is about doing and reflecting in structured Active Learning.
These learning styles must be possible here.
Schools and universities that do not meet the requirements will vanish according to some assessors.
According to Confucius: I do and I understand.
- Especially in number-oriented topics as finance with a clear structure.
- Therefore, all experiences must be shown in their context.
Do I have to learn?
Twenty years ago we laid approx. 25 minutes a week on "intentional" learning, mainly courses.
According to a report from the World Economic Forum, many will have to spend much more time learning new competencies.
Around 50% will have to spend 100 hours a year to build new skills and 25% over 400 hours per year.
That is 2 - 10 hours a week
too many spend too much time on social media and mobile phones.
That has lead to that the annual GDP growth for the past 10 years averaged
low 1.5%, while it was 3.5% before.
Productivity has fallen dramatically and that in a time when technology and AI develop fast.
Within 5 years, it is estimated that 40% of our jobs have disappeared or changed.
We simply all need to switch up and spend more time learning to keep us employable.
There is a term called the "5-hour rule
". Many successful people such as Bill Gates and Elon Musk
spend at least 5 hours per week reading, reflecting and experimenting on new knowledge and ideas.
We will all need to apply at least the 5-hour rule.
Research from LinkedIn
shows that those who spend more than 5 hours on intentional learning a week are:
39% more productive.
23% more likely to get additional responsibilities.
47% less stressed.
21% happier at work.
becomes one of our most important competencies in the future.
(Origin Johan Skoglöf)
Trends in the finance function?
Use ProfitGames to meet a changed future.
* Digital transformation is changing entrepreneurship and employability.
- Account coding of business transactions will be taken over by AI in five to ten years.
- In addition to creating accurate financial reporting, there will be more
focus on analysis and change.
* Companies decentralize responsibilities and powers.
- Business education is carried out in the most efficient way.
- Interest will be more focused on analyzing operations in simulations and calculations.
- Many manual processes with risks and errors will be replaced by accurate tools.
* Economics gives you the necessary knowledge you will benefit from your entire life.
- You will be stronger in the competition that is global.