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Old 01-10-2017, 02:35 PM
actuaryjames actuaryjames is offline
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Default EOM6: Confirmation of the problem?

I am beginning to write EOM 6 exercise and am having a difficult time getting started.

Would I be oversimplifying the "problem" if I stated that it was to create a work plan, or proposal, to incorporate product changes into Blackmore's existing UL pricing model? Is that enough? Or am I missing something?

It almost seems like they are asking for more. It couldn't simply be a one sentence answer, could it?

Thanks for your help!
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Old 01-11-2017, 12:52 PM
immocardo immocardo is offline
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Control Cycle: Define the problem

If that doesn't help, it might help to go reread the define the problem module
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Old 01-11-2017, 02:16 PM
actuaryjames actuaryjames is offline
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Originally Posted by immocardo View Post
Control Cycle: Define the problem

If that doesn't help, it might help to go reread the define the problem module
Thank you for an answer that doesn't help at all. That is like you asking me what your federal income tax bracket is and me answering "read the tax code". Of course I know I can go back and re-read the module, I already have. I was just looking for additional help.
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Old 01-11-2017, 04:44 PM
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NBran NBran is offline
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Quote:
Originally Posted by actuaryjames View Post
I am beginning to write EOM 6 exercise and am having a difficult time getting started.

Would I be oversimplifying the "problem" if I stated that it was to create a work plan, or proposal, to incorporate product changes into Blackmore's existing UL pricing model? Is that enough? Or am I missing something?

It almost seems like they are asking for more. It couldn't simply be a one sentence answer, could it?

Thanks for your help!
You could probably add a little more, but that's the gist of what I wrote. I basically created a couple sentences that acted as an introduction for the memo where I went over everything my memo attempted to communicate. There's a difference between answering the questions in order and writing a memo that flows.
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Old 01-11-2017, 04:50 PM
immocardo immocardo is offline
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Quote:
Originally Posted by actuaryjames View Post
Thank you for an answer that doesn't help at all. That is like you asking me what your federal income tax bracket is and me answering "read the tax code". Of course I know I can go back and re-read the module, I already have. I was just looking for additional help.
If you were working through readings to obtain a tax related credential, that is exactly what I would tell you.

When reading through the Define the problem section of the FAP modules, how did they define the problem?

During Module 6 they outlined the Macro and Micro Model. What was the portion of the Micro model that corresponded to the define the problem portion of the Macro Model? (Define the problem ---> Define Model)

There is a slide in Module 6 that outlines the Micro process. While reading module 6, this micro process seemed particularly important to me, so i personally included that in my EoM 6.

The literal problem is what you defined as your answer, but what are the problems that go with it?

To use an analogy: If I come to you with the problem "How do I move this rock from point A to B"

You could tell me that verbatim for what the problem is, or you could additionally include:

-What tools do I need in order to move this rock?
-Are the tools I have currently adequate to move this rock?
-I may need to move similar rocks in the future, will the tools I build now also work for moving those rocks?
-Is moving this rock ACTUALLY what I want to do? Maybe the underlying goal is actually to have something to sit on, and instead of moving the rock I should just build a stool.

Think about how these questions could translate to the model and the business situation outlined in the module.

To include one final hint:

The final stage outlined in the Micro Control cycle is Consideration of External forces, original business problem and constraints

What is the underlying business problem that is inspiring this problem?

Is the proposed solution (phrased as the "problem" you've outlined) actually solve the business problem?

Could other external forces be causing this problem?


Obviously this goes way beyond the question, but these considerations help tie this first "task" to the rest of your write up
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