Task
The following collaborative research project requires you work in groups, each consisting of approximately 5 students. Please confirm your group composition with your lecturer.
You and a group of investors are interested in setting up a chain of aged care homes in a number of Local Government Areas in Australia. In order to do this successfully you need to ensure that the regions you choose will support your business over the next 10 years. Your minimum criteria are:
- enough adults who are likely to need aged care
- these adults have the funds to pay for aged care (how you identify that is up to you but you need to document this criteria)
These are the minimum criteria - you should identify some more that you can use in this business decision.
Your task is to prepare a report to be presented to your co-investors which identifies two (2) Local Government Areas in Australia which meet your criteria. Your report should demonstrate how these Local Government Areas meet the minimum criteria above and additional criteria which you have identified. You should also identify additional statistical information that is required before a final decision is made to start building the first aged care centre.
Your report should be professionally presented and contain appropriate references. You can select whether your group will present in a written report or make a Power-point presentation to the class. Doing a presentation to the class is a great way to gain confidence and experience in talking to large audiences. Making presentations and working in teams are important professional skills and are required in Masters level courses.
Rationale
This assessment item asesses the following subject learning outcomes:
- be able to demonstrate problem-solving skills in assessing, organising, summarising and interpreting relevant data for decision making purposes;
- be able to apply decision theory to business situations;
- be able to apply probability concepts to decision making.
The task also provides the opportunity for students to work cooperatively in groups and to communicate the results of their research.